About Okex
Briefly About OKX
OKX, formerly known as OKEx, functions as a globally-operating centralized cryptocurrency exchange, extending its services to users across 150 countries.
History
Established in 2013 as an integral component of the blockchain technology company OK Group, OKX transformed in 2017 when it evolved into a standalone exchange, headquartered in Seychelles. This transition was spearheaded by its founder, Star Xu. Under his leadership, OKX has steadily grown into a prominent player in the cryptocurrency sector, leveraging its foundation within the OK Group to deliver innovative services to its users.
As a result of rebranding in 2022, its name was changed and it got many new important features - its own blockchain, token, decentralized cross-platform wallet, and other features, which helped it minimize regulatory concerns.
OKX now positions itself as the “gateway to Web3,” including OKX DEX, a built-in web wallet with private key protection, an NFT marketplace, and other progressive solutions.
Assets Available
50 cryptocurrencies are available for spot trading, forming 650 pairs, including but not limited to USDT, USDC, DAI, EURT, BTC, ETH, and OKB (OKX's token).
Spot market traders on OKX can fulfill orders at current market prices and open limit orders. To start trading, they need to transfer cryptocurrency from their main account to a trading account through the Assets section. To choose the needed trading pair, enter the ticker in the search bar or click on it on the left side of the screen.
Is Leverage Available?
Margin transactions with up to 10X leverage are available. The maximum possible leverage is 125X and can be used in trading derivatives, futures, and perpetual swaps. Options on BTC, ETH, and other assets are also available.
Users may choose among four account modes: Simple (activated by default), Portfolio Margin, Single-Currency Margin, and Multi-Currency Margin.
Founders
Mingxing Xu, widely recognized as "Star," is the visionary founder of OKX, formerly OKEx, and a main figure within the OKCoin corporate structure, which falls under the umbrella of the renowned OK Group. With its roots in China, the company was initially established in 2013 as part of the thriving blockchain landscape.
A highly accomplished Chinese businessman, Mingxing Xu brings a solid educational background to his entrepreneurial endeavors, holding a degree in Applied Physics from the prestigious Beijing University of Science and Technology. His leadership extends beyond OKX, as he currently serves as the CEO of OK Group.
The day-to-day operations of OKEx are managed by Jay Hao, who serves as the Chief Executive Officer. Under their combined leadership, OKX continues to play a central role in shaping the trajectory of the cryptocurrency exchange industry, blending innovation, strategic vision, and a commitment to excellence.
Fees
Transaction costs start at 0.10% and decrease as trading volume grows. For standard users, the commission is calculated based on the amount of OKB (utility token) in their accounts. The fees for experienced traders depend on their trading volume over the last 30 days.
Access Restrictions
OKX operates in 150 countries, offering more than 300 types of assets and over 500 pairs. Despite the platform is not available in the USA market, its user base has exceeded 50 million, and its daily volume of spot trades reaches $650 million.
OKX follows international standards and regulations aimed at preventing money laundering and financing of terrorism. Following the requirements of some jurisdictions, the exchange does not serve clients from countries such as Belgium, Iran, Cuba, the USA, and Japan.
The exchange has a valid VDA license in Dubai and aims to obtain a similar license in Hong Kong, which could expand its global presence and attract new clients.
CEO of OKX