A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of OKEx consists of four parts: general information, fees, deposit methods and security.
OKEx is a cryptocurrency exchange based in Hong Kong. Many other exchanges also come from Hong Kong, including the immensely popular KuCoin and Binance. Other Hong Kong exchanges include Bit-Z, Gatecoin and BitFlip.
This exchange is regularly one of the top 5 exchanges in terms of trading volume, meaning that the cryptocurrency orders executed here are worth a significiant amount of money (rarely below 1 billion USD per day). This exchange thus offers extreme liquidity which is very advantageous for all investors trading here.
US-investors may not trade on this exchange. So if you are a US-investor and want to trade at OKEx, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges. Don’t be too sad though, there are many other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
OKEx Trading fees
The trading fees for takers charged by this exchange are 0.20%. This fee is slightly below the industry average. The industry average is arguably around 0.25%. OKEx also offers a slight discount for the makers in the trades, setting the fee for them at 0.15%.
OKEx Withdrawal fees
When it comes to OKEx’s withdrawal fees, they have no fixed amount. On their website, they state:
“Withdrawal fee varies from token to token. You may increase your fee to reduce the confirmation time.”
When we traded on this exchange, our withdrawal fee was a staggering 0.004 BTC. This is way above average in the industry. One should consider whether OKEx has a strong offering to investors in other respects that outweighs the disadvantage of this higher withdrawal fee.
Here, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.
OKEx’s security score is D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
Liquidity is something very important for all exchanges, cryptocurrency exchanges but also regular stock market exchanges. The above exchange does indeed have great liquidity. However, the following cryptocurrency exchanges are also regularly among the cryptocurrency exchanges with the absolutely best liquidity in the world: