Stoppage of Business

Score

0123456789.01234567890123456789
/10

OKEX

South Korea

|

Stoppage of Business

2-5 years|

Digital Currency License|

MTL License|

Common Financial Service License|

United States MSB License Revoked|

United States MSB License Revoked|

Suspicious Overrun|

High potential risk

Subsidiary OKX

https://okex.co.kr/kr/view

Website

Rating Index
Influence

Influence

A

Influence Index NO.1

United States 7.81

Better than 98.61% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

The WikiBit Score of this exchange is lowered because of too many unresolved complaints!
Influence
A

Licenses

FSA

FSARegulated

Digital Currency License

NMLS

NMLSRegulated

MTL License

CEZA

CEZARegulated

Digital Currency License

FINTRAC

FINTRACExceeded

Common Financial Service License

FinCEN

FinCENRevoked

MSB License

FinCEN

FinCENRevoked

MSB License

Exchange Info

More
Company Name
OKEX
Phone of the company
--
Customer Service Email Address
help@okex.co.kr

WikiBit Risk Alerts

8
Previous Detection 2024-06-16

This Exchange has ceased its operation, and it has been listed in WikiBit's shut down list of Exchange; please be aware of the risk!

The number of the negative comments received by WikiBit have reached 64 for this Exchange in the past 3 months, please be aware of the risk and the potential scam!

The number of this Exchange's nagitive field survey reviews has reached 3, please be aware of the risk and the potential scam!

Website

Genealogy

Social Media

Trade Type

Keywords

Time Machine

White Paper

Related Software

Github

Related Docs

All Corps

New Arrival

Vol Stat

Influence

Yesterday Vol

7 Days

No data

User Reviews

More

11 ratings

Participate in evaluation
Araminah
OKEx: Offers a wide range of crypto and futures trading pairs.
2023-10-19 09:26
5
Mickeyshow
It's a pretty popular exchange, and it offers trading in a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. It's also known for its low fees and its user-friendly interface.
2023-12-21 08:40
2
ENE9211
OKEx's diverse range of trading pairs and futures contracts make it a go-to for those seeking variety. The platform's user-friendly design simplifies complex trading processes.
2023-12-25 07:09
3
Scarletc
OKX offers advanced financial services as well as excellent primers for anyone new to crypto. It boasts an impressive list of services that include flexible borrowing and ways to earn interest on staked tokens.
2023-12-05 22:00
4
Jenny8248
It offers various benefits within the OKEx ecosystem, including fee discounts, token sales, and more.
2023-11-28 23:07
5
Dazzling Dust
OKEx, founded in 2014 by Star Xu, is a prominent cryptocurrency exchange offering a wide range of services, advanced trading features, and its native utility token, OKB, used for various purposes within the platform.
2023-11-14 07:39
2
Alihsan23
I used OKEX App for just few days, well they doing great. it's a nice crypto trading app though
2023-08-23 23:42
7
L_Zulva
best of luck
2023-08-23 20:19
3
Evolution07
Secured
2023-10-29 11:57
2
kia119
a fave of mine
2023-08-24 14:33
6
way.
??
2023-07-03 17:51
0
Aspect Information
Company Name OKEX
Registered Country/Area South Korea
Founded Year 2014
Regulatory Authorities Regulated by FSA, NMLS, and CEZA
Cryptocurrencies Offered Bitcoin, Ethereum, Ripple, Litecoin, and more
Fees the lowest trading volume tier: 0.10% for both maker and taker orders, the highest trading volume tier: 0.02% for maker orders and 0.05% for taker orders
Customer Support 24/7 live chat, email support: help@okex.co.kr, Twitter: https://twitter.com/OKExKR_Official ; Facebook: https://facebook.com/okexkr.official

Overview of OKEX

OKEX is a virtual currency exchange platform that was founded in 2014. However, OKEX was affected by South Korea's new encryption regulations and has ceased operations since April 15, 2021. The exchange is regulated by FSA, NMLS, and CEZA. It offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and more.

It is a versatile trading platform offering up to 100x leverage, allowing traders to potentially maximize profits. It is accessible through multiple platforms including web and mobile, expanding its accessibility. OKEX supports multiple deposit and withdrawal options in both fiat and digital currencies. It hosts educational resources for beginner traders and provides comprehensive 24/7 customer support via live chat, email, and phone.

OKEX's homepage

Pros and Cons

Pros:
  • OKEX offers a wide range of cryptocurrencies which gives users diverse options for trading.

  • It offers maximum leverage options which can potentially increase a user's profits.

  • It hosts multiple trading platforms, providing users convenience.

  • OKEX offers flexible deposit and withdrawal options, making it easier for users to handle their funds.

  • It provides educational resources, assisting users to understand virtual currency trading better.

  • With 24/7 customer support, users can get help any time they need.

Cons:
  • The risk associated with leverage trading is increased due to the maximum leverage options.

  • The platform is primarily focused on virtual currency trading, which might not cater to users looking for diversified trading options.

Pros Cons
Wide range of cryptocurrencies offered Increased risk associated with leverage trading
Maximum leverage options Primarily focused on virtual currency trading
Multiple trading platforms
Flexible deposit and withdrawal options
Educational resources available
24/7 customer support

Regulatory Authority

OKEX is regulated by multiple regulatory agencies in different jurisdictions. In Japan, it is regulated by the Financial Services Agency (FSA) under the regulation number of “関東財務局長 第00020号”.

regulated by FSA

OKEX is also regulated by the Cagayan Economic Zone Authority (CEZA) in the Philippines under a digital currency license issued to Okcoin Philippines Technology Co. Ltd. However, the specific regulation number for CEZA is not available.

regulated by CEZA

In the United States, OKEX is regulated by the Nationwide Multistate Licensing System (NMLS) with license number 1767779. The license type is a MTL License issued to OKCoin USA Inc.

regulated by NMLS

These regulatory measures and licenses demonstrate OKEX's commitment to complying with regulatory requirements in the jurisdictions it operates in.

Security

OKEX places a strong emphasis on security to protect users' assets. The platform implements various security measures, including cold storage and multi-signature technology, to safeguard user funds. Cold storage keeps the majority of assets offline, reducing the risk of hacking. Multi-signature technology requires multiple key holders to authorize transactions, adding an extra layer of security.

Furthermore, OKEX has implemented measures to prevent unauthorized access to user accounts, such as two-factor authentication (2FA) and email notifications for login attempts. These features aim to enhance the security of user accounts and protect them from unauthorized access.

Overall, OKEX takes measures to ensure the security of user assets, but users should also practice their own security measures, such as using strong passwords, enabling 2FA, and regularly monitoring their accounts for any suspicious activity.

Trading Market

OKEX offers a wide range of cryptocurrencies for trading. Some of the cryptocurrencies available on the platform include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), and many more. These cryptocurrencies can be traded against different trading pairs, providing users with diverse options for trading and investment.

Cryptocurrency prices are subject to fluctuations on exchanges, including OKEX. The prices of cryptocurrencies can be influenced by various factors such as market demand, trading volume, market sentiment, and external news events.

In addition to cryptocurrency trading, OKEX also offers other products and services. These include futures trading, options trading, spot trading, and margin trading. These products and services provide users with different trading options and strategies to suit their trading preferences and risk tolerance.

Fees

OKEX has a tiered fee structure for trading fees. The fees are based on the user's trading volume within the last 30 days, with higher trading volumes resulting in lower fees. The fees start at 0.10% for both maker and taker orders for the lowest trading volume tier and can go as low as 0.02% for maker orders and 0.05% for taker orders for the highest trading volume tier.

In terms of deposit and withdrawal fees, OKEX does not charge any fees for cryptocurrency deposits. However, withdrawal fees vary depending on the specific cryptocurrency being withdrawn. The fee amounts can be found on the OKEX website under the “Fee Schedule” section.

When comparing OKEX's fees with other exchanges, it is important to consider the specific trading pairs and trading volumes involved. Different exchanges may have different fee structures and fee tiers, making direct comparisons challenging.

Customer Support

Because OKEX is temporarily out of service and its official website is difficult to access, we can only get its email address. For inquiries, please contact help@okex.co.kr.

contact details

Is OKEX a Good Exchange for You?

OKEX is the best exchange in terms of trading diversity. Its wide portfolio includes a variety of trading products such as spot trading, futures contracts, and perpetual swaps. This allows traders a broad range of strategies and potential profit maximization opportunities. If trading diversity is your primary focus, then OKEX undoubtedly stands out in this aspect.

OKEX caters to a wide range of traders, including both beginners and experienced traders.

For beginners, OKEX's educational resources and tools, such as trading guides, video tutorials, and webinars, can be particularly beneficial. These resources help beginners learn about the basics of cryptocurrency trading, including technical analysis, risk management, and trading strategies. Beginners can also take advantage of community support and communication platforms to interact with other traders and gain insights and knowledge from their experiences.

Experienced traders can benefit from OKEX's diverse range of cryptocurrencies and trading options. With a wide selection of trading pairs and products, including futures trading, options trading, spot trading, and margin trading, experienced traders have the opportunity to implement more advanced trading strategies and take advantage of market opportunities. They can also take advantage of OKEX's tiered fee structure, where higher trading volumes result in lower fees, to optimize their trading costs.

OKEX's global presence and support for multiple languages also make it suitable for international traders. Traders from various countries can access OKEX's platform and utilize its services, including customer support in their preferred language.

Overall, OKEX is suitable for both beginners and experienced traders, offering educational resources, diverse trading options, and global accessibility. Traders can choose OKEX based on their individual trading preferences, risk tolerance, and level of experience.

Conclusion

In conclusion, OKEX offers a range of features and services to meet the needs of both beginners and experienced traders. The registration process is straightforward, and the platform provides educational resources and tools to support users in their trading activities. The tiered fee structure is competitive, and users can choose from a diverse range of trading options.

However, there have been reports of challenges such as customer support response times and occasional technical difficulties. Users need carefully consider their individual requirements and preferences before deciding to use OKEX as their chosen exchange.

FAQs

Q: What are the trading fees on OKEX?

A: OKEX has a tiered fee structure based on trading volume, starting at 0.10% for maker and taker orders and can go as low as 0.02% for maker orders and 0.05% for taker orders for the highest trading volume tier.

Q: What is the customer support like on OKEX?

A: OKEX offers customer support through email, live chat, and an online ticket system.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

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