Verdict: OKX is one of the largest global crypto exchanges, known for low trading fees, deep derivatives markets and a regularly published proof of reserves. CoinGecko gave it a Trust Score of 10/10 on 8 November 2026, tracking 303 coins and 916 pairs. Its regulatory picture is mixed: it holds an EU MiCA licence and a Dubai licence, but its global platform is run from Seychelles, and in 2025 that operator pleaded guilty in the US to serving American customers without a licence. Which protections you get depends heavily on where you live.
OKX at a glance
| Item | Details (November 2026) |
|---|---|
| Global operator | Aux Cayes FinTech Co. Ltd. (Seychelles) |
| Launched | 2017 as OKEx (per CoinGecko); rebranded OKX in 2022 |
| Incorporation | Seychelles (CoinGecko); US regional HQ in San Jose, California |
| Key licences | EU MiCA (OKX Europe, Malta), Dubai VARA (OKX Middle East Fintech FZE) |
| Coins / pairs | 303 coins, 916 pairs (CoinGecko) |
| Spot fees | From 0.08% maker / 0.10% taker (regular user examples) |
| Perpetual fees | From 0.02% maker / 0.05% taker |
| Proof of reserves | Yes, recurring zk-STARK reports |
| CoinGecko Trust Score | 10/10 |
Regulation and safety
OKX operates through regional entities with very different regulatory status:
- European Economic Area: OKX became the first global exchange to receive a full MiCA licence on 27 January 2025, through its Malta-based European hub, allowing it to passport services across the EEA. In March 2025 OKX Europe also announced the acquisition of a MiFID II-licensed firm for institutional derivatives, subject to approval by the Malta Financial Services Authority.
- Dubai: OKX Middle East Fintech FZE received a licence from the Virtual Assets Regulatory Authority (an MVP preparatory licence in June 2023; check VARA’s public register for its current licence status).
- United States: OKX relaunched a dedicated US platform and wallet in April 2025, with a regional headquarters in San Jose, migrating users of its affiliate Okcoin.
- Rest of the world: the global platform is run by Aux Cayes FinTech Co. Ltd. in Seychelles. We found no top-tier licence covering that entity, so users served by it rely mainly on OKX’s own policies.
The most serious event in OKX’s history came in February 2025, when Aux Cayes FinTech pleaded guilty in the US to operating an unlicensed money transmitting business. Prosecutors said that despite a formal ban on US users, OKX had served US retail and institutional clients from around 2018 until early 2024. OKX agreed to pay more than $504 million, made up of an $84 million penalty and about $421 million in forfeited fees, and said historical compliance gaps had let a small share of US customers use its international services. Earlier, in 2020, withdrawals were suspended for several weeks while the founder assisted a police investigation in China.
On the positive side, OKX publishes recurring proof of reserves. Its 28th report, released in February 2025 and verified by Hacken using zk-STARK proofs, showed $28.1 billion in primary assets and reserve ratios of 104% for BTC, 102% for ETH, 102% for USDT and 100% for USDC.
Trading fees
OKX classifies accounts as Regular or VIP based on 30-day trading volume (across spot, futures, options and spreads) or asset holdings, and applies the best level you qualify for across all products. The rates below come from worked examples in OKX’s trading fee rules FAQ; your actual rate is shown under “My trading fees” after login and can differ by region.
| Product | Maker | Taker | Note |
|---|---|---|---|
| Spot (regular user example) | 0.08% | 0.10% | BTC/USDT example |
| Perpetual futures (regular user example) | 0.02% | 0.05% | BTCUSDT / BTCUSD examples |
| High VIP tier example | -0.002% (rebate) | 0.025% | Illustrates maker rebates |
| Futures expiry settlement | 0.01% | 0.01% | All users |
Tiers update once a day rather than in real time, and liquidations are charged at your tier’s taker rate. Compared with US-regulated exchanges charging 0.40% or more at entry level, OKX is far cheaper for small and medium traders. Withdrawal fees vary by coin and network.
Products and markets
CoinGecko tracked 303 coins and 916 pairs on OKX in November 2026. OKX is best known for derivatives: perpetual swaps, expiry futures, options and spread trading sit alongside spot and margin. It also offers earn products, copy and bot trading in many regions, and a self-custody Web3 wallet. Independent reviews updated in 2026 put the maximum at up to 125x on the most liquid perpetuals such as BTC-USDT, with lower caps on altcoins, and note that derivatives are restricted or unavailable in countries including the UK, Canada and Hong Kong. Check the contract specifications before trading; leveraged derivatives can lose more than you expect in fast markets.
Platforms and tools
OKX runs a web platform and mobile app with advanced charting, and offers REST and WebSocket APIs. Product availability is geo-fenced: EEA users see the MiCA-compliant offering, US users get the separate US platform, and some products available globally are restricted in those regions.
Deposits and withdrawals
Crypto deposits are the main funding method. Fiat routes depend on your region: cards and third-party on-ramps (typically costing 3% to 6%), P2P trading, free SEPA transfers for EU users and PayPal in the EEA, covering USD, EUR, GBP, AUD, CAD, AED, JPY and dozens of other currencies. Identity verification is mandatory: basic KYC needs an ID and a face scan and caps P2P use at $5,000 lifetime, while advanced KYC with proof of address unlocks full limits. We could not confirm a minimum deposit on an official page. Network withdrawal fees vary by coin and chain.
Who OKX suits
- Good fit: active traders who want low spot and futures fees; derivatives traders who need deep liquidity; EEA residents who want a MiCA-licensed version of a global exchange.
- Think twice: users who want the strongest regulatory protection outside the EU, UAE or US; anyone uncomfortable with the 2025 US guilty plea; beginners tempted by leverage.
Final verdict
OKX combines low fees, deep markets and regular proof of reserves, which explains its top CoinGecko trust rating. Its licences in the EU and Dubai are real improvements, but the global Seychelles entity and the 2025 US plea mean users outside regulated regions should size their exposure carefully. Crypto is volatile, and assets left on any exchange carry custody risk.
Compare OKX with the other top crypto exchanges, or read our Kraken review and Binance review.
FAQ
Is OKX regulated?
Partly. OKX’s European business received a MiCA licence in January 2025 through its Malta hub, and OKX Middle East Fintech FZE was licensed by Dubai’s VARA. The global platform, however, is operated by Aux Cayes FinTech Co. Ltd. in Seychelles, and we could not verify a top-tier licence for that entity.
What are OKX trading fees?
OKX’s own fee FAQ uses 0.08% maker and 0.10% taker for spot and 0.02% maker and 0.05% taker for perpetual futures in its worked examples for regular users. VIP tiers based on 30-day volume or asset holdings pay less, and the exact schedule varies by region.
Did OKX plead guilty in the US?
Yes. In February 2025 Aux Cayes FinTech, the Seychelles operator of OKX, pleaded guilty to running an unlicensed money transmitting business for US customers and agreed to pay more than $504 million in penalties and forfeited fees.
Does OKX publish proof of reserves?
Yes. OKX publishes recurring proof-of-reserves reports using zk-STARK proofs; its 28th report in February 2025, audited by Hacken, showed reserve ratios of 100% or more for BTC, ETH, USDT and USDC.
Can US residents use OKX?
OKX relaunched a separate US platform in April 2025 with a regional headquarters in San Jose, California, onboarding customers in phases. US residents should use that US service rather than the global OKX platform.
Facts compiled on 8 November 2026 from the official website, regulator registers and independent reviews listed in the sources. Fees and conditions change; confirm on the official site before opening an account.