OKX on custody & reserves
8.2/ 35% of the score
Publishes a Merkle-tree proof of reserves monthly with user-verifiable inclusion and a stated reserve ratio, self-attested rather than audited. No loss of customer spot balances on record.
Best Crypto Exchanges · Rank 06 of 8
OKX review
Active traders who want Binance-class depth with a different jurisdiction mix
Last verified August 18, 20264 scored axes
Score8.2
Documented, with gaps
The short answer
OKX scores 8.2 out of 10 and ranks #6 of 8 in the best crypto exchanges table, strongest on cost of trading (9.0) and weakest on regulatory footing (7.0).
The strongest technical product outside Binance: deep perpetuals, a competent on-chain wallet and a proof-of-reserves programme published on a regular cadence. Its regulatory position varies sharply by country and deserves checking before you fund.
Key facts on record
- Founded
- 2017
- Custody model
- Custodial; separate self-custody wallet available
- Proof of reserves
- Published monthly
What the record shows
4 axes, weighted as published in the table’s methodology. Each score below is read from the fact printed under it.
OKX on regulatory footing
7.0/ 25% of the score
Holds licences in Dubai, Singapore, the Bahamas and EU markets; its operating entity pleaded guilty in February 2025 to running an unlicensed money-transmitting business, paying $505m in fines and forfeiture and accepting an external compliance consultant until 2027, and US access is restricted.
OKX on cost of trading
9.0/ 20% of the score
Published maker/taker schedule sits among the lowest of the major venues; perpetual funding published per market per interval.
OKX on market coverage
9.0/ 20% of the score
Large spot and perpetual market count plus an integrated self-custody wallet; fiat access differs by regional entity.
Quick answers
- What is OKX best for?
- Active traders who want Binance-class depth with a different jurisdiction mix. The strongest technical product outside Binance: deep perpetuals, a competent on-chain wallet and a proof-of-reserves programme published on a regular cadence.
- Where does OKX rank among best crypto exchanges?
- #6 of 8, scoring 8.2 out of 10 — documented, with gaps on our band scale.
- What is the weakest part of OKX?
- Regulatory footing at 7.0. Holds licences in Dubai, Singapore, the Bahamas and EU markets; its operating entity pleaded guilty in February 2025 to running an unlicensed money-transmitting business, paying $505m in fines and forfeiture and accepting an external compliance consultant until 2027, and US access is restricted.
Strengths and weaknesses
In its favour
- Monthly proof-of-reserves cadence with verifiable Merkle proofs
- Strong derivatives engine and competitive funding rates
- Integrated self-custody wallet that is genuinely usable
Against it
- Availability and product set differ significantly by jurisdiction
- Support quality drops off outside the highest volume tiers
The best technical product outside Binance
OKX runs deep perpetual markets, a competitive fee schedule and a self-custody wallet that is genuinely usable rather than a marketing tile. For an active trader who wants Binance-class execution without concentrating everything at Binance, it is the obvious second venue.
Reserves published monthly
The proof-of-reserves programme runs on a monthly cadence with user-verifiable Merkle inclusion and a stated reserve ratio. It is self-attested — no outside accounting firm signs it — but the cadence is more frequent than most of the table and the tooling works.
February 2025
The operating entity pleaded guilty to running an unlicensed money-transmitting business, paying $505m in fines and forfeiture and accepting an external compliance consultant until 2027. US access is now restricted. As with Binance's settlement, the failure was in controlling who used the platform rather than in safekeeping balances, but it is a live commitment: a company under a monitor is a company whose product decisions are not entirely its own.
Check your jurisdiction first
Licences in Dubai, Singapore, the Bahamas and EU markets sit alongside restrictions elsewhere, and the available product set depends on which entity you sign up with. Support quality also drops off outside the higher volume tiers, which is a real consideration when the fastest route to fixing a stuck withdrawal is a responsive desk.
Frequently asked questions
Is OKX legal in the US?+
Not for direct retail use. Its operating entity pleaded guilty in February 2025 to running an unlicensed money-transmitting business, paid $505m and accepted an external compliance consultant until 2027; US access is restricted as a result.
How often does OKX publish proof of reserves?+
Monthly, with a published reserve ratio and Merkle-tree inclusion that lets a customer verify their own balance. The figures are self-attested rather than examined by an outside accounting firm.
Is OKX good for derivatives trading?+
Its perpetual markets are among the deepest outside Binance, with funding rates published per market and a competitive fee schedule. Availability of the derivatives product depends on the regional entity that serves your jurisdiction.
How OKX compares
8 services in best crypto exchanges
- 01KrakenUsers who want a regulated venue with a long, boring security record9.2
- 02CoinbaseUS users who want the clearest legal claim on their balance8.9
- 03BinanceTraders who want the deepest book and widest asset list, and accept the perimeter risk8.6
- 04BitstampEuropean users who want a licensed venue and a short asset list8.4
- 05GeminiUsers who prioritise a regulated custodian over trading features8.3
- 06OKXyou are hereActive traders who want Binance-class depth with a different jurisdiction mix8.2
- 07BybitDerivatives traders who want execution quality above all else8.0
- 08Crypto.comUsers who want an exchange, card and app in one account7.6