OKX exchange review
A powerful exchange with a Web3 ecosystem — but KYC is mandatory.
Bitfa rating: 4.1 out of 5
OKX at a glance
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OKX review
OKX is one of the world's largest exchanges, with a complete Web3 ecosystem, its own wallet and advanced trading tools. The platform is high quality, but as with Bybit, KYC is mandatory and Iranian users are not officially accepted.
Bitfa does not recommend OKX to Iranian users, and this review is for information only. For similar features without the risk of being blocked, turn to Bitfa's no-KYC partners.
History of OKX
OKX (the 2022 rebrand of OKEx) is one of the world's largest exchanges, with a Web3 ecosystem and a powerful wallet. Like Bybit, it requires KYC and does not officially support Iran.
Is OKX suitable for Iranian users?
OKX fees
| Spot fee | 0.08% / 0.1% |
|---|---|
| Futures fee | 0.02% / 0.05% |
OKX pros and cons
✔ Pros
- Very high-quality platform and app
- Web3 ecosystem and a powerful wallet
- High liquidity
✖ Cons
- Mandatory KYC
- Iranian users not officially accepted
- Risk of asset freezes for Iranian users
🔍 This review is based on real testing by the Bitfa team (sign-up, deposit, trading and withdrawal with our own money) and is updated whenever the exchange's conditions change.
Step-by-step guide to signing up on OKX
Go to the exchange's website
Use the sign-up button on this page to go to the exchange's official website.
Create an account
Sign up with your email and enter the email verification code; choose a strong password.
Identity verification (KYC)
Upload the identity documents the exchange requires and wait for approval.
Deposit and start trading
Fund your account with USDT and place your first trade — ideally with a small amount.
Is OKX good for trading? (Bitfa's verdict)
For Iranian users, OKX isn't a safe option because of its mandatory KYC, and this review is here only to give you a full picture of the market. Safe alternatives: LBank, Toobit and WEEX.
Sign up on OKXOKX FAQ
Can Iranian users use OKX?
Officially, no; KYC is mandatory and Iran isn't on the list of supported countries.
What is the best alternative to OKX?
For Iranian users, LBank and Toobit, with strong futures and no mandatory KYC, are more sensible alternatives.
Reviews of the top Iranian and global exchanges
⚠️ Risk warning: trading cryptocurrency, especially leveraged futures, carries high risk and may result in the loss of your capital. This page is for information only and is not investment advice. Some of the links on this page are affiliate links.