OKX Review

Looking to dive into the world of crypto but not quite sure which platform to trust with your money? 

You’re not alone. 

With countless exchanges out there, finding one that ticks all the boxes, including security, low fees, a great range of coins, and a sleek interface, can feel like hunting for a needle in a digital haystack.

OKX is a global crypto platform, but is it the right fit for British investors? 

In this OKX review UK, we’ll walk you through everything you need to know from features to fees, pros to potential pitfalls, so you can decide if OKX deserves a spot on your crypto radar.

Pros and Cons

Key Takeaways

Let’s zoom in on the essentials. Here’s a quick snapshot of OKX at a glance:

• 🏆 Regulation: Not FCA-regulated; based offshore in Seychelles
• 🔒 Investor protection: Cold storage, 2FA, real-time monitoring
• 💼 Financial assets: 300+ crypto assets, including NFTs and stablecoins
• 🌐 Markets: Crypto, DeFi
• 💻 Account types: Standard user and volume-based VIP tiers
• 💲 Fees: Maker: 0.08%, Taker: 0.10% (with discounts via OKB token)
• 💰 Minimum deposit: Depends on your chosen crypto
• 📈 Platform: Web, mobile app, trading bot, and OKX Wallet
• 📧 Contact: 24/7 live chat, and help centre

Is OKX Safe?

OKX isn’t overseen by the FCA, which puts it outside the protections UK investors might be used to. That said, most funds are held in cold storage, and account security follows the usual standards—two-factor authentication, phishing protection, and system monitoring. It’s not a substitute for local regulation, but it’s more structured than some offshore platforms.

OKX has kept a low profile when it comes to security incidents: no major breaches, no public failures. It won’t offer the guardrails of a UK-regulated exchange, but users who know what they’re doing can still operate safely here, as long as they’re taking proper precautions.

Available Financial Products

Now, here’s where OKX really starts to shine. Unlike many exchanges that focus only on the basics, OKX dives deep into the full crypto ecosystem.

You’ll find spot and margin trading, but OKX also offers futures and options, crypto lending, and access to a sleek DeFi hub through the OKX Wallet. You can stake your assets, earn yield, and even browse NFT collections, all under one roof.

👉 Read here for more information on the best brokers for trading options!

As of this writing, certain OKX products are not available for UK users, such as crypto derivatives, OKX Earn, and crypto loans. 

From high-liquidity altcoins to new token launches, OKX caters to both casual traders and those hungry for advanced tools. If you’re exploring Web3, this exchange gives you a front-row seat.

Account Types and Fees

Accounts are free to open, and everyone starts with access to the core platform. Higher-volume traders are moved into different tiers over time, which come with lower fees and a few added perks like faster support.

Here’s a quick fee breakdown:

• Spot fees: 0.08% maker / 0.10% taker
• Crypto deposits: Free (unless you deposit fiat, which will be taxed via third-party payment providers)
• Withdrawals: Vary depending on asset

Compared to many UK competitors, OKX is one of the most cost-effective platforms around if you trade regularly or hold OKB.

That’s why the low fees definitely count as a major plus.

Trading Platforms

OKX offers a clean, intuitive trading interface that feels modern without being overwhelming. On the web, you’ll find advanced charts (powered by TradingView), one-click trading, and deep order books.

If you prefer mobile, you should know the app is top-tier: fast, full-featured, and available on both iOS and Android. You can trade, stake, and monitor your portfolio on the go.

The OKX Wallet takes things to the next level. You can access DeFi protocols, connect to dApps, and manage NFTs, all in a single tap.

👉 Read here for more on the best trading platforms

Customer Service

Support matters, especially when your money’s involved. Fortunately, OKX delivers. You get:

• 24/7 live chat
• A robust Help Centre

And if you prefer social media, OKX has active Telegram and X (formerly Twitter) channels, among others, with helpful communities.

Research and Education

If you’re new to crypto or just keen to learn more, OKX’s learning hub is invaluable. Expect clear explainers, industry news, and real-time market updates.

Another perk is that it has varied guides and content ranging from beginner guides to more sophisticated trading strategies. Perfect for brushing up your knowledge without falling down a YouTube rabbit hole.

Who is it for?

For UK users looking beyond the usual exchanges, OKX offers plenty of depth. It handles everyday crypto trading just as well as more advanced tools like DeFi and staking, without layering on unnecessary cost.

OKX doesn’t support UK bank transfers and isn’t covered by local regulation, which will be a dealbreaker for some. But if you’re already comfortable navigating the crypto space, it offers more range than most platforms in its class.

FAQs

What is OKX?

OKX is a heavyweight in the crypto exchange world. It is a crypto trading platform that handles everything from basic spot trades to more advanced markets like futures and options. It supports hundreds of tokens, with tools that stretch beyond trading into DeFi, staking, and on-platform wallets. The company operates out of the Seychelles, though its reach is global.

OKX doesn’t fall under UK regulation, which sets it apart from platforms registered with the FCA. That won’t suit everyone, but it hasn’t stopped it from building a user base in the UK, drawn in by lower fees, strong functionality, and a growing reputation for security.

How to open an OKX account in 5 steps

Opening an account on OKX is refreshingly simple:

1. Access the website
2. Click “Sign Up” and fill in your details
3. Create a secure password
4. Complete identity verification (passport/photo ID, proof of address (utility bill))
5. Deposit crypto or use a fiat gateway to get started
6. You’ll be trading in minutes. And yes, the platform is just as slick on mobile.

Is OKX legal in the UK?

Yes, it’s legal to use in the UK, though OKX isn’t FCA-regulated.

Can I deposit GBP directly?

Not directly, you need to use third-party services or deposit crypto.

Is OKX better than Binance?

OKX has lower fees and better DeFi tools, while Binance offers easier fiat options in the UK.