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Dec 28, 2017 Alexy Exchanges Views: 195

OKEx

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18th Floor, Menara TA One 22, Jalan P. Ramlee 50250, Kuala Lumpur Malaysia
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API

https://www.okex.com/intro_apiOverview.html

Company Name

okex co ltd

Date founded

Feb 28, 2014

Founder Name

Star Xu

Name

OKEx

Location

Hong Kong, China

Address

18th Floor, Menara TA One 22, Jalan P. Ramlee 50250, Kuala Lumpur Malaysia

Languages

Chinese, English, French, Russian, Spanish, Vietnamese

Risk Management Tools

Yes

Copy-trading

No

Fees

https://www.okex.com/pages/products/fees.html

Deposit methods

Bank wire, Bitcoin, Litecoin, Ethereum, Monero

Maximum deposit

None

Maximum withdrawal

None

Minimum deposit

0.0001 BTC

Minimum withdrawal

None

Supported crypto currencies

Bitcoin, Ethereum, Ethereum Classic, Litecoin, Monero

Supported fiat currencies

Chinese Renminbi Yuan, United States Dollar

Two-Factor Authentication

No

Multi-factor Authentication

No

Secured By SSL

No

Google Play
Windows Phone

No

Mobile version

Yes

24/7 Online Support

Yes

Contact phone

+852 5808 5768

Contact email
Withdrawal methods

Bank wire, Bitcoin, Litecoin, Ethereum, Monero

Max Leverage

No

Spreads

1.00

Demo version

No

Market
Price
Open 24H
Range 24H
Vol. 24H
% CH
Market
Type
Price
Quantity
Total
Id

Overview

Okex is a multi cryptocurrency exchange among the top five exchanges in CoinMarketCap. Okex was originally based in China but later moved its operations to Hong Kong due to the Chinese government ban on trading of ICO tokens. Okex was launched in 2017 by a Chinese company known as OkCoin. Okchain runs a BTC exchange and has a mobile consumer lending and payment application. OkCoin focuses purely on buying and selling cryptocurrencies and ICO tokens while Okex offers a more sophisticated offering that has more in common with traditional financial securities exchanges. It is one of the few cryptocurrency exchanges allowing a stand-alone desktop platform. They have over 100 cryptos, its tools and option are designed to suit both newbies and experienced users. Funds can be deposited through cryptocurrencies, bank transfers, Alipay and Wechatpay.

Okex has their utility tokens which can be used to settle trading fees on the exchange platform. Users can pay for exclusive services like dedicated customer support and enhanced API rate limits. They have future trading which is one of the primary services of exchanges you need to keep in mind.

Features

  1. Verification: Okex multi support include web platform, mobile app, and API. Okex has two levels of verification. The first verification requires users to submit their name, birth certificates, national ID, nationality and proof of residence. The second verification requires a bank statement in addition to the 1st stage requirements. After completing the 2nd verification daily withdrawal limit increases to 50,000 USD for individual accounts and 500,000 USD for corporate accounts.
  2. Margin trading: Okex has margin trading available, due to cryptocurrencies being highly volatile, margin trading is limited at 20:1 leverage. Okex also offers future trading for BTC, ETH, and EOS with a weekly and monthly contract available. For future contracts, leverage margin trading is also available. Through margin trading, users can maximize their profits 10×/20× leverage.
  3. Fees: Okex charges low fees which are tied based on average 30 days trading volume and users overall activities. Fees are set per tier; Marker fees start from 0.15% while taker fees are 0.2%. Trading limits for unverified accounts are set to 1000 BTC per day. There is no limitation set for buying and selling, and all you have to do is choose the corresponding currency for buying and selling. Okex allows deposit in BTC, LTC, ETH, ETC, BCH, XRP, and XEM. Withdrawals are available in BTC, LTC, ETH, ETC.
  4. Security: Okex has good security, and have a good cyber security architecture of the best standards in the industry. A limited amount of funds is stored in hot wallets to ensure daily activities while the majority are stored in a cold wallet. Off-site backup is set up, and it's under constant monitoring and security as it stores encrypted private key paper documents. The private key holders and individuals who can retrieve the encrypted key are not the same people. The private key does not have contact with the internet or USBs. In 2017 some users complained of their accounts been hacked and funds being stolen, but the suggestion of security level being insufficient was refuted, and Okex claimed this to be the failure of the users. New guidelines were issued to users concerning account and wallets security. The company behind Okex has operated for a long period and had never put users in jeopardy.
  5. Customer Support: Okex offers good online customer support. The support is available through a phone line, email, ticketing, and several messaging apps and social media channels. They also do have a wide range of FAQ. Feedback on Okex customer support has a mixed reaction, and some users have complained online about slow response rate or failure to resolve the problem.

 

Conclusion

Okex is a well-backed exchange with significant global ambitions. It offers many cryptocurrencies and low trading fees. It is a branch of OkCoin which ceased future trading and shifted its users to the new Okex exchange. The fact that it supports CNY as the only fiat currency shows it is still oriented to the Chinese market. You can also trade BTC LTC and other cryptos with leverage.

Screenshots
Pros & Cons
  • Leveraged trading and future trading available
  • A wide variety of cryptocurrencies users can choose from
  • A simple and straightforward trading interface
  • A large trading volume
  • Competitive trading fees
  • Good security
  • Only supports CNY as fiat currency
  • Only for experienced traders and beginners should be cautious
  • Many cryptos which could confuse beginners
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