OKX review
OKX is a centralized cryptocurrency exchange that traces its lineage to Okcoin, founded in 2013 by Mingxing "Star" Xu, relaunched internationally as OKEx in 2017, and rebranded to OKX in 2022. It offers spot, margin, futures/options trading, staking, an NFT marketplace, and a self-custody Web3 wallet spanning 130+ chains. In February 2025, OKX pleaded guilty to operating an unlicensed money-transmitting business in the US between 2018 and early 2024, paying a $505 million settlement, and relaunched a FinCEN-registered US entity two months later. OKX holds MiCA authorization in the EU, though EEA users cannot trade USDT under that regime, and its Hong Kong virtual-asset license application was withdrawn. It publishes monthly proof-of-reserves reports.
OKX key facts
- Website: www.okx.com
- Category: Centralized cryptocurrency exchange (CEX)
- Founded: 2017 as OKEx; predecessor OKCoin founded 2013 by Star Xu
- Headquarters: San Jose, California (announced global hub, 2025); Seychelles-incorporated exchange entity
- Regulatory status: MiCA-licensed in the EU; FinCEN-registered US entity since April 2025, excluding NY and TX; Hong Kong VASP application withdrawn
- Notable regulatory history: Feb 2025: pleaded guilty to unlicensed US money transmission, paid $505M ($84M penalty plus disgorgement), operating under compliance monitor through 2027
- Products: Spot, margin, futures/options; staking; OKX Wallet (self-custody, 130+ chains); NFT marketplace; copy trading
- Trading fees: Global spot from 0.08% maker / 0.10% taker; US spot 0.20%/0.35%; futures from about 0.02% maker / 0.05% taker
- Supported assets: 300+ cryptocurrencies, 1,100+ pairs on the CEX (CoinGecko); thousands more via the built-in DEX aggregator
- CEO: Mingxing "Star" Xu
- FYI Score: 94.2/100 (ranked #2 of the 48 crypto exchanges we track)
Trading fees
- Global standard spot fees from about 0.08% maker / 0.10% taker outside the EEA, reduced further at higher VIP tiers based on 30-day volume
- US spot fees are notably higher at 0.20% maker / 0.35% taker for regular users
- Futures and perpetuals start lower, around 0.02% maker / 0.05% taker, with volume-based VIP tiers
- No platform fee on P2P trading
Supported assets & products
- 300+ cryptocurrencies and 1,100+ trading pairs on the centralized exchange, per CoinGecko
- Spot, margin, and futures/options/perpetuals trading
- Staking and Earn products, expanded for US users to cover ETH, SOL, ADA and others
- OKX Wallet for self-custody and DeFi access across 130+ blockchains, plus a DEX aggregator, NFT marketplace and Launchpad
Security & regulation
- Monthly proof-of-reserves reports using zk-STARK verification, alongside 2FA and passkey support
- MiCA-authorized in the EU, though EEA users cannot trade USDT under MiCA's stablecoin rules and must use USDC or USDG instead
- Pleaded guilty in February 2025 to operating an unlicensed US money-transmitting business (2018-early 2024); paid $505M combined penalty and disgorgement, with an external compliance monitor through 2027
- Hong Kong virtual-asset service provider license application was withdrawn
Fiat & payments
- OKX Inc. (US) registered with FinCEN as a money services business, operating in 48 states plus Puerto Rico; New York and Texas are excluded
- US derivatives, margin and futures remain unavailable following the 2025 relaunch
- Free ACH deposits for eligible US states; fiat deposit/withdrawal options and fees vary by region
Markets
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Who OKX is for
OKX suits active, derivatives-focused traders outside the US who are comfortable with an offshore-rooted exchange rebuilding its regulatory record. US users access a narrower product through the separately regulated OKX US entity, excluding New York and Texas, with no margin or derivatives trading.
Pros
- Deep liquidity and volume among the largest global exchanges
- Broad product range in one account: spot, derivatives, staking, self-custody wallet, DEX aggregator and NFTs
- Competitive, low derivatives fees and no P2P trading fee
- Monthly zk-STARK-verified proof of reserves
- Now operates a FinCEN-registered US entity and holds MiCA authorization in the EU following its 2025 settlement
Cons
- Pleaded guilty in February 2025 to operating an unlicensed US money-transmitting business from 2018 to early 2024, paying a $505 million combined penalty and disgorgement to the DOJ and operating under an external compliance monitor through 2027
- US users get a materially reduced product: no margin, futures or derivatives, and no service in New York or Texas
- Hong Kong virtual-asset service provider license application was withdrawn
- Fiat deposit and withdrawal fee transparency varies by region
- Exchange entity remains Seychelles-incorporated even as OKX promotes a new San Jose "global hub"
OKX FAQ
Is OKX regulated?
Partially. OKX holds MiCA authorization for the EU and, since April 2025, operates OKX Inc. as a FinCEN-registered money services business in the US covering 48 states plus Puerto Rico (excluding New York and Texas). In February 2025 it pleaded guilty to operating an unlicensed US money-transmitting business between 2018 and early 2024, and its Hong Kong virtual-asset license application was withdrawn.
Is OKX available in the United States?
Yes, through OKX Inc., relaunched in April 2025 after OKX's $505 million DOJ settlement. US users get spot trading and a narrower product set; margin, futures and derivatives remain unavailable, and the service excludes New York and Texas.
What happened with OKX's DOJ settlement?
In February 2025, OKX pleaded guilty to one count of operating an unlicensed money-transmitting business in the US, covering conduct from 2018 to early 2024 including allowing prohibited US customers onto its global platform. It paid $505 million combined ($84 million in penalties, the remainder disgorgement of US-linked fees) and agreed to an external compliance monitor through February 2027.
What are OKX's trading fees?
Outside the US and EEA, standard spot fees start around 0.08% maker / 0.10% taker, dropping at higher VIP volume tiers. US spot fees are higher, at 0.20% maker / 0.35% taker. Futures and perpetuals start lower, around 0.02% maker / 0.05% taker.
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