The OKEx exchange is a leading crypto currency exchange that allows you to buy and sell various crypto currencies. The exchange was founded in 2014 and has been backed by venture capital funds such as Giant Network Group, Longling Capital, Ceyuan Ventures, Qianhe Capital Management, eLong Inc and VenturesLab (co-founded by block-chain investor Tim Draper) with millions of dollars in investments.
Originally trading under the name OKCoin and changing its brand name to OKEx in May 2017, OKEx, originally focused on serving the Asian market, has since expanded to serve customers in over 100 different countries. As part of this expansion strategy, the OKEx site has been translated from Chinese into English and has only recently been expanded to serve customers outside China.
OKEx currently has the second highest volume of crypto-currency exchange in the world and is not far from battling Binance for first place. This means that some of the crypto currency markets offered by OKEx are the largest in the world. As the exchange expands its customer base outside Asia, we expect the exchange to continue to grow and put increasing pressure on Binance to gain market share.
The company was originally based in Hong Kong. However, in April 2018, the OKEx exchange confirmed that it would be relocating to Malta. The OKEx CEO explained that Malta is not only a block chain friendly country, but there are also stricter rules regarding anti-money laundering standards. The exchange was open and said that these standards are important to protect their customers and that this was an important motivation for the move. This means that if you are looking for a stock exchange that is preparing for tighter regulation of the crypto currency, OKEx might be the right one for you.
OKEx stock exchange review: Important facts
If you decide to do a crypto currency exchange, of course you need to know the specifics of the exchange. Then you can decide for yourself. We've gone through all the hard stuff to make sure you don't have it too, and have summarized all the important points in a short summary:
Cryptographic access: Over 100 different crypto-currencies are available on the exchange.
Second largest exchange: In terms of trading volume, OKEx is the second largest crypto currency exchange in the world.
To which countries is OKEx delivered? The exchange accepts most countries from Asia and Europe. Currently the exchange has customers from over 100 different countries.
Regular currency deposits: Unlike exchanges such as Binance, OKEx allows regular currency deposits via bank transfer, Alipay and WeChat Pay.
Can you use a credit card on the OKEx exchange? No, the exchange does not support credit card payments.
Where is OKEx located? The OKEx exchange is currently located in Hong Kong. However, they will move to Malta shortly
High liquidity: The problem with small exchanges is that the number of sell orders could be very low. This means that if an investor wants to buy crypto currency worth even $500, this could change the price. High liquidity means that investors can buy their chosen crypto currency in one go and at the same price. OKEx has the second highest liquidity in the world and this makes buying crypto currencies there easy.
Supported devices: The exchange already has MAC and Windows clients available for download. Mobile apps for iOS and Android devices are coming onto the market. However, these are still in the closed BETA test phase.
Trading leverage: The OKEx exchange offers up to three times the leverage for crypto currency trading.
OKEx exchange trading fees & payout limits
Most people will not trade more than 600 Bitcoin in 30 days worth 600 Bitcoin trading volume. This means that the vast majority of crypto-currency investors using the exchange will remain at level 1. Tier 1 trading fees are:
Market trading: 0.15% producer fee and 0.2% participation fee.
Futures trading: 0.03% producer fee and 0.05% participation fee.
24 hour payout limit: 100 Bitcoin
- Gain access to over 100 different crypto currencies.
- In terms of trading volume, OkEx ranks second after Binance.
- Usually venture capitalists are quite smart and obviously think that they have supported a great exchange.
- OkEx offers special trading features like x3 leverage, margin and futures trading.
- The exchange has been trading for four years and is well established.
- A simple interface makes trading relatively easy.
- The crypto-currency commentator Sylvain Ribes believes that up to 93% of the stock exchange turnover is fake.
- Futures, margin and leveraged trading are advanced products. We do not believe that they should be made available to beginners.
- Email customer support responses could be faster.
Ultimately the choice is yours. The OKEx exchange certainly has strong support from venture capitalists and has one of the largest selections of crypto currencies on the market. It also offers customers more features than other exchanges, so this should make the exchange more attractive to experienced crypto traders.
If you want to start trading on OKEX click here.
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