Under the OKX name sit two quite different products: a centralised exchange and a self custody wallet. This review is about the exchange, which attracts people looking for spot markets, advanced trading tools and a regional service suited to where they live. European customers are served by a company in Malta, while Turkey has its own local OKX service. Keeping these pieces apart matters, because the global trading menu and the wallet's token list describe two separate experiences.

At a glance

  • Founded: 2017, under the earlier name OKEx.
  • Headquarters: The global business is based in the Seychelles, with regional hubs such as Malta for Europe.
  • Regulation and licences: OKX Europe Limited is authorised under MiCA in Malta; other regional companies hold their own permissions.
  • KYC requirement: You must verify your identity to use the centralised exchange.
  • Supported countries: Several regional services, including one for the EEA and a separate OKX TR for Turkey.
  • Number of cryptocurrencies: 350+ advertised globally, with smaller or different lists in each region.
  • Fiat deposits: EUR via SEPA for eligible European accounts, plus local bank or card options where available.
  • Mobile app: The OKX app gives access to the exchange; the wallet runs as a separate product.

Sign up and KYC process

To open an exchange account you provide personal details, an accepted government ID and, where required, a face verification step. The country you select sets your regional terms and the documents you will be asked for. Even though the OKX Wallet can be used without identity checks, the trading account cannot, and having both inside one app does not change that.

If you live in the EEA, your contract is with OKX Europe Limited, and its MiCA permissions cover a defined list of crypto services rather than everything the wider group promotes. Customers in Turkey deal with OKX TR, which has its own sign-up process and banking links. Switching the language of the app only changes how it looks; it does not place you in another regulatory region or widen the services you are allowed to use.

Fees

Globally, the standard spot schedule starts at 0.08% for makers and 0.10% for takers. These are reference figures for the global platform, not a price list for European or Turkish accounts, where regional schedules and qualification rules apply. Higher volume tiers carry different rates, and temporary pair promotions should not be confused with the normal schedule.

Each OKX tool has its own cost logic. A spot trade is charged an execution fee, while a leveraged position can also run up borrowing or funding costs. Buying with a card or through a quoted conversion is priced within that purchase flow. Withdrawal fees vary by coin and chosen network, so a low trading commission says little about what it costs to move funds to your own wallet.

Supported assets and features

The exchange offers the major coins, stablecoins and a curated selection of smaller tokens. The wallet, by contrast, connects to a much wider range of onchain assets. Adding the two together would overstate what you can trade from a verified exchange balance; finding a token in the wallet does not mean OKX runs a spot market for it.

Eligible users on the global platform can combine spot trading with trading bots and more complex market products. A bot simply places orders according to the settings you choose; it does not turn a strategy into a sure profit. Europeans should check the EEA product pages rather than global derivatives promotions. If your main goal is buying crypto with euros, the bank deposit method, the local coin list and the spot interface matter far more than the full international range.

Security

OKX offers account authentication tools and publishes proof of reserves, which lets customers check whether the exchange liabilities included in the report are backed. That report covers the centralised exchange only; it is not a security guarantee for every token or app you can reach through OKX Wallet.

The difference affects who is responsible for what. On the exchange, OKX holds custody and handles withdrawals. In the self custody wallet, safety depends on your own keys and recovery phrase, and connecting to outside applications adds smart contract risk. If you are choosing OKX for centralised trading, judge the exchange's protections and regional custody terms on their own, without assuming the wallet ecosystem adds to them.

Pros

  • A mature exchange interface with spot trading and automation tools.
  • A named, MiCA authorised company for eligible customers in the EEA.
  • Local services can offer funding options better suited to each region.

Cons

  • Global fee figures do not reflect every regional account.
  • It is easy to confuse the exchange and wallet coin lists when comparing.
  • Some advanced global features are not offered in Europe or other regions.

Verdict

OKX suits traders who want a well developed platform and are happy to pick the regional service that applies to them. It is most convincing when the local account already has the coins and deposit method you need, without relying on global advertising. Compare the exchange and the self custody wallet separately, then decide based on the spot markets and costs of your own account.