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OKEx Exchange Review

Published

3 years ago

11/05/2020

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Founded in 2017, Okex is a Malta-based cryptocurrency trading company that enables cryptocurrency investors to trade with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and other cryptocurrencies in a secure environment. One can say that Okex is a descendant of the Okcoin exchange founded by Chinese investor Star Xu.

Okex is currently not available in Hong Kong, Cuba, Iran, North Korea, Crimea, Sudan, Malaysia, Syria, the United States [including all U.S territories like Puerto Rico, American Samoa, Guam, Northern Mariana Islands and the U.S. Virgin Islands (St.Croix, St. John and St. Thomas)], Bangladesh, Bolivia, Ecuador, and Kyrgyzstan.

Here are some features that make Okex stand out.

Spot trading
Margin trading;
Future contract;
Perpetual swaps; and
Integrated storage folder.

Mobile Support

If you’re looking for an exchange platform that can be used as a downloadable client on a desktop and as an application on a mobile phone, Okex fills that space for you. It can be downloaded in the Apple Store and the Google Play Store. It can also be used as a download client on Windows and Mac.

Deposit Method

The exchange platform has different deposit methods depending on the location. Options include:

Crypto Discussion Group

Transfer
Alipay system
Credit and debit cards
Transfer assets from another trading platform or external wallet to the Okex trading platform

They accept payments in various currencies such as BTC, ETH, LTC, BCH, OKB, ETC, and USDT.

They also accept payments from customers or investors through their trusted partners (such as Koinal, Indacoin, and Banxa).

Trading View

Different trading platforms have different trading views and it is impossible to choose the best overall trading platform. It all depends on what is best and most convenient for you. Below are images of the trading view of the Okex exchange:

Trading Fees

OKEx uses the maker-taker fee schedule to promote more orders and liquidity. Therefore, the maker fee is lower than the taker fee. Maker and taker fee starts at 0.10% and 0.15% respectively.

Maker Fee: Payable when the trade order does not immediately match the order in the order book.
Taker Fee: Payable when the trade order immediately matches an existing order in the order book.

OKEx also has a VIP program to reward users who trade with them frequently. Users who have more OKEx Token-OKB and have a high transaction volume for 30 days can gradually get more discounts from makers and takers. Higher-level VIP’s, in particular, can even receive discounts from the maker fee.

Affiliate Program

Okex also rewards customers who invite their friends to trade on the platform through the invitation program. If a friend you invite successfully trades on the platform, you will receive an amazing 30% commission.

Security

Okex implements a secure cold wallet security program. This means that most of their funds are stored offline in cold environments. This means that it is protected from hackers. They keep a limited percentage of their coins on servers in a “hot” environment to meet the demand for withdrawals/deposits.

When it comes to exchange infrastructure, they use GSLB (Global Server Load Balancing). This means they have many servers around the world to ensure that the servers are up and running and managing transaction requests.

The OKEX insurance fund supports all transactions that cannot be liquidated at a price higher than the bankruptcy price. The fund is supplemented by the initial margin that the liquidated trader needs at the start of the transaction.

OKEX has fully encrypted communication. So when you send information to them, they are sent securely. This includes all personal documents and passwords.

This is also helpful because it can help you determine if you are on a phishing site. If you don’t see the padlock in your browser or SSL certificate, it means that you are not on the right website and should leave immediately.

Usually, the best security starts with the trader. Therefore, OKEX offers many tools that users can use to protect their accounts.

The most common is two-factor authentication with a telephone. There are two possibilities. The first is using SMS authentication and the second is using Google Authenticator.

Another very striking tool is the anti-phishing tool. Basically, this is the code that is sent in every email they send you. If you don’t recognize the code, it means that the email is from an illegal sender and you can take the necessary measures to protect your account from illegal messages.

Conclusion

The OKEx platform offers various tools and trading avenues to meet the investment needs of all levels. Beginners and professional cryptocurrency traders will find something useful on OKEx.

Its user interface has been carefully designed and offers many different trading options and views that both experienced traders and beginners will appreciate.

Overall, OKEx Exchange offers many advantages that traders both new and old can appreciate and benefit from.

To register on OkEk click on this link and your registration would be completed within a few minutes.

Contact OKEx team:

Come discover OKEx exchange and join the growing community!

Download OKEx Trading App on Google Play

Download OKEx iOS Trading App on App Store

Learn more about OKEx on their official website and blog

Telegram: https://t.me/OKExOfficial_English

Medium https://medium.com/okex-blog

Reddit: https://www.reddit.com/r/OKEx/

Twitter: https://twitter.com/OKEx

Facebook: https://www.facebook.com/okexofficial/