OKX review
- Fiat currencies
- 1
- Supported assets
- 87
Our verdict
One of the world's largest exchanges has launched in Australia, with more than 80 assets on offer.
OKX is a feature-rich exchange that offers trading of over 80 cryptocurrencies with markets that cater to both beginners and experienced traders. You can trade on the spot market or instantly swap any crypto for another. It also offers derivative trading for verified wholesale clients.
In addition to trading regular cryptocurrencies, there's a multi-chain NFT marketplace and a Bitcoin Ordinals market. You can use the demo trading mode if you want to gain experience without risking real money.
Despite its wide range of features, the platform is surprisingly intuitive to use and easier to navigate than many other similar-sized exchanges.
In addition to the exchange, the OKX offers an extensive crypto wallet that can be used with a smartphone or browser.
The wallet is quite impressive and aimed at use with Web3 apps, DeFi and NFTs. There is support for DeFi limit orders on Ethereum and it has support for 60+ networks and even supports Bitcoin BRC-20 tokens – both of which are rare for a Web3 wallet.
You can buy cryptocurrency with AUD via PayID, bank transfer, credit or debit card which is handled by a third-party provider and deposited into your OKX account. Australian users can trade 170 spot trading pairs (across 87 tokens), including 70 AUD pairs.
Customer support options include a chat bot and live chat.
Pros
-
Straightforward exchange interface. The exchange feature on OKX is uncomplicated. Simply choose the fiat currency you want to make a purchase with and then select the crypto you want to buy.
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Educational resources. OKX features tutorials, trading ideas and analysis under its “Learn” tab.
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Over 80 cryptos available. Trade 80+ tokens on more than 170 pairs, including 70 AUD pairs, as well as NFTs and ordinals.
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AUD bank deposits and withdrawals. You can add and withdraw funds directly from your bank account with no fees.
Cons
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Poor customer service reviews. On Trustpilot, more than half of OKX customer service reviews are 1 out of 5.
Details
Product details
| Product Name | OKX |
| Fiat Currencies | AUD |
| Cryptocurrencies | BTC, ETH, XRP, BCH, EOS, LTC, ADA, TRX, USDT, ETC & 77 more |
| Deposit Methods |
Bank transfer Credit card Cryptocurrency Debit card |
| Trading Fee | 0.500% |
| Deposit Fees |
AUD: None Bank transfer: None Cryptocurrency: None Network fees may apply |
| Withdrawal Fees |
Bank withdrawal: None Other AUD withdrawal options: Fees vary Cryptocurrency: Fees vary |
Ratings breakdown: How we scored OKX
| Supported cryptocurrencies | ★★★★★ |
| Transferring money or assets | ★★★★★ |
| Fees and costs | ★★★★★ |
| Ease of use | ★★★★★ |
| Customer service | ★★★★★ |
| Features | ★★★★★ |
| Trustworthiness/security | ★★★★★ |
How we rate our crypto exchanges and platforms
Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology for more information.
Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.
About OKX
OKX was founded by Star Xu in 2017 and now operates crypto exchanges in a number of countries around the world. It has offices in Singapore, Hong Kong, the UAE, the Bahamas and Australia.
OKX supported assets
OKX supports over 86 cryptocurrencies, but some notable assets are missing. Namely, BNB, Lido Staked Ether and Wrapped Bitcoin, which are in the top 20 cryptos by market cap. In total, 17 of the top 20 cryptos are available on OKX.
Popular assets on OKXOKX fees review
Deposit and withdrawal fees
| Transaction type | Fee |
|---|---|
| Deposit funds | AUD: None Bank transfer: None Cryptocurrency: None Network fees may apply |
| Withdraw funds | Bank withdrawal: None Other AUD withdrawal options: Fees vary Cryptocurrency: Fees vary |
OKX deposit methods
- Bank transfer
- Credit card
- Cryptocurrency
- Debit card
How to sign up on OKX
Before you can get started trading on OKX, you'll have to go through a Know Your Customer (KYC) verification process (which usually involves proof of identification).
- Get started
Visit OKX's site. After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your OKX account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on OKX.
About the OKX app
The OKX app is very similar to the desktop website in both design and functionality. You trade cryptocurrencies across a range of markets and access the same extra features as the desktop exchange.
In addition to the exchange, the OKX offers an extensive crypto wallet that is part of the OKX app. The wallet is extensive, with excellent Web3 integrations, DeFi and support for NFTs. You can use it with 60+ networks including Ethereum, Bitcoin, Layer-2 networks and OKX's own OKB Chain.
The wallet app can even be connected to a hardware wallet for added functionality and security.
You can easily switch between the exchange and wallet using a button at the top of the app, which changes the menus and interface. 
| App store | Rating | Total reviews |
|---|---|---|
| Google Play | 4.5 stars | 358.2k reviews with 5m downloads |
| Apple Store | 4.7 stars | 13.7k reviews |
Is OKX safe?
Regulation. OKX Australia Pty Ltd is an AUSTRAC-registered and locally incorporated entity. It offers derivatives through OKX Australia Financial Pty Ltd, an AUSTRAC-registered entity that holds an Australian Financial Services (AFS) licence.
Verification process. Users are not required to pass a Know-Your-Customer (KYC) check in order to use the exchange, although there are certain limits placed on users until they upload photo ID and pass a KYC check. Without passing KYC you should be able to deposit cryptocurrency and trade, as well as make AUD purchases up to a maximum of $5000 USD.
Security features. OKX has a 9/10 trust rating from CoinGecko and a Grade-A security rating from CER, a security auditing firm that specialises in crypto exchanges. OKX holds a portion of funds in cold storage and operates a reserve fund called OKX Risk Shield.
Proof of reserves. OKX publishes monthly proof of reserve snapshots which can be used to independently verify that it has enough funds to cover user assets.
Keeping your crypto secure
All centralised exchanges, including OKX, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $149 |
Price (USD) $49.99 |
See more of the best crypto wallets
OKX customer support
OKX customer support is available via live chat, as well as an AI chat-bot and help centre articles.
Alternatives to OKX
Your reviews
James Finder
Editor
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