OKX: licences, security, fees and reviews
Centralized exchange
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Key facts
- Type
- Centralized exchange
- Exchange launched
- 2017
- Country of registration
- Seychelles
- Operator
- Aux Cayes FinTech Co. Ltd.
- Formerly
- OKEx
- Official site
- okx.com
Key facts checked on 28 October 2026 against official sources and regulator registers.
What is OKX
OKX (formerly OKEx) is a centralised cryptocurrency exchange, operated since about 2017 by Aux Cayes FinTech Co. Ltd. of the Seychelles. It offers spot, margin, futures and options trading, DeFi, lending and mining services. Users in the EEA, the US, the UAE, Australia and some other regions are served by separate local OKX companies.
Good to know
- Under OKX's global Terms of Service, futures, options, index trackers and margin lending are offered by the Seychelles company Aux Cayes FinTech Co. Ltd. ↗
- In Singapore, OKX SG Pte. Ltd. provides the licensed digital payment token services, while OKX Financial Pte. Ltd. provides unlicensed and unregulated products such as payment token derivatives and structured products. ↗
- OKX's El Salvador company, OKX Fintech, S.A. de C.V., also gives users in 20 countries of Latin America and the Caribbean, including Argentina, Brazil, Chile, Colombia and Mexico, access to specific products and services. ↗
- In the EEA, OKX Europe limits services for asset-referenced and e-money tokens (stablecoins) that may not comply with MiCA to deposits and withdrawals. ↗
- Not every US state licence of OKX Inc. covers crypto: OKX states that its Louisiana money transmission licence does not cover the exchange or transmission of virtual currency. ↗
- UK: OKX restricts its derivatives, CeFi and P2P services there. On 28 October 2026 the FCA Financial Services Register listed no authorised OKX firm: “OKCoin” and “Aux Cayes” gave no results, and “OKX” returned two firms, “OKX AI” and “THE OKX CRYPTO FIELD”, both marked “Unauthorised”. ↗
- OKX mostly matches users with each other, but in some circumstances companies related to OKX may be the counterparty to trades on the platform. ↗
- Trading fees are set by trailing 30-day volume and are charged in the asset bought: buying BTC with USD costs a fee in BTC. ↗
- According to US prosecutors, from about 2017 to about November 2022 OKX let retail customers open accounts, move funds and trade without completing identity verification (KYC). ↗
- In Australia, the OKX Pay Wallet and OKX Card are issued by a third party, Bano Pty Ltd (AFSL 536984); OKX Australia Pty Ltd acts as its distributor and authorised representative. ↗
Services
| Parameter | Details |
|---|---|
| Spot trading | Spot trading of hundreds of tokens and trading pairs. |
| Derivatives | Perpetual and expiry futures and options, with leverage; availability depends on the region. |
| Margin | Margin trading. |
| Copy trading | Trading bots and copy trading. |
| OTC | OTC trading for large orders. |
| Own token | OKB, included in the proof-of-reserves report. |
Licences and registrations
| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| European Union | OKX Europe Limited (formerly OKCoin Europe Ltd) | Crypto-asset service provider authorised under MiCA on 27 January 2025, including operation of a trading platform and custody; passported to other EEA countries | Malta Financial Services Authority (MFSA) |
| Malta | OKX Europe Limited | Financial institution licence for payment account services (as stated by OKX) | Malta Financial Services Authority (MFSA) |
| United Arab Emirates (Dubai) | OKX Middle East Fintech FZE | VASP licence VL/23/12/003, issued 17 September 2024, active: exchange (incl. derivatives), lending and borrowing, management and investment, broker-dealer | Dubai Virtual Asset Regulatory Authority (VARA) |
| United States | OKX Inc. (formerly OKCoin USA Inc.) | Money services business registered with FinCEN; state money transmitter licences (NMLS #1767779); no service in New York | FinCEN and state financial regulators |
| Australia | OKX Australia Financial Pty Ltd | Australian financial services licence AFSL 379035 (crypto derivatives) (as stated by OKX) | Australian Securities and Investments Commission (ASIC) |
| European Union (Germany listing) | OKX Europe Markets Limited | Investment firm in Malta offering crypto-asset expiry futures (as stated by OKX); listed in BaFin's register as a cross-border investment services provider for Germany, not supervised by BaFin (register entry) | Home-state regulator in Malta; listed by BaFin (Germany) |
| France | OKCoin Europe Limited (now OKX Europe Limited) | MiCA crypto-asset service provider authorised in Malta, allowed to serve France under the freedom to provide services; listed services include custody and operation of a trading platform (AMF white list, 28 October 2026) | Autorité des marchés financiers (AMF) white list; home regulator MFSA |
| Spain | OKX Europe Limited | Listed in the CNMV's official registers as a crypto-asset service provider (register entry, checked 28 October 2026) | Comisión Nacional del Mercado de Valores (CNMV) |
| Singapore | OKX SG Pte. Ltd. | Digital payment token services under Singapore's Payment Services Act 2019 (as stated by OKX) | Monetary Authority of Singapore (MAS) |
Status in the United States and the United Kingdom
- On 24 February 2025, according to the US Attorney’s Office for the Southern District of New York, Aux Cayes FinTech Co. Ltd, the Seychelles company that operates OKX, pleaded guilty to one count of operating an unlicensed money transmitting business. US Attorney’s Office, SDNY, 24 February 2025
- As part of the plea and sentencing, OKX agreed to pay more than $504 million in penalties. The prosecutors said that from about 2018 until at least early 2024 it served US customers despite its own policy barring them. US Attorney’s Office, SDNY, 24 February 2025
- OKX Inc., the group’s US company, is listed in FinCEN’s Money Services Business Registrant Search with a San Jose, California address; its latest registration form was received on 2 October 2026 (searched 28 October 2026). New York is not among the states listed. FinCEN MSB Registrant Search
- In the UK, no OKX group company appeared on the FCA Financial Services Register on 28 October 2026 in searches for “OKX”, “OKCoin” and “Aux Cayes”. FCA Financial Services Register
- Under the UK money laundering regime, cryptoasset businesses must register with the FCA before offering in-scope services in the course of business carried on in the UK. FCA, cryptoasset AML/CTF regime
Checked on 28 October 2026 against regulator registers and the text of the law.
Proof of reserves as of October 2026
| Asset | Reserve ratio |
|---|---|
| BTC | 110.0% |
| ETH | 100.0% |
| USDT | 105.0% |
| USDC | 101.0% |
Method: Monthly self-published report: user balances proven with a zk-STARK zero-knowledge proof and Merkle tree, compared with on-chain wallet holdings; part of the reserves is held with third-party custodians, which OKX says must be verified with those custodians; open-source verification tool. ↗
Security and audits
- Most assets are held offline in cold wallets; a portion stays in hot wallets for withdrawals.
- Transactions require multiple signatures and approvals; hot wallets use an in-house semi-offline multi-signature system.
- Every transaction passes multiple layers of risk checks, with withdrawal address whitelists and dynamic limits.
- Cold-wallet private keys are generated on offline devices, encrypted with AES and kept in vaults, with backups in separate locations.
- Cold-wallet assets are spread across many addresses, each with a cap on how much it can hold.
Fees
| Parameter | Details |
|---|---|
| Spot maker | 0.08% for regular users of OKX Europe; base fees differ by region |
| Spot taker | 0.10% for regular users of OKX Europe; base fees differ by region |
| Spot maker (US) | 0.20% for regular users of OKX US |
| Spot taker (US) | 0.35% for regular users of OKX US |
| Spot (UAE) | 0.40% maker, 0.60% taker for regular users of OKX Middle East |
| Spot (Australia) | 0.70% maker, 0.70% taker for regular users of OKX Australia |
| Spot (Brazil) | 0.10% maker, 0.40% taker for regular users on BRL pairs (OKX Brazil fee schedule) |
| Spot (Singapore) | 0.10% maker, 0.20% taker for regular users on OKX's Singapore fee schedule |
| Fee tiers | Tier set by trailing 30-day trading volume in USD, recalculated daily at 00:00 UTC+8; regional or country-specific pricing may vary with the user’s residence or location |
Who can use it
- Verification: Identity verification is required to use the services, including a government-issued photo ID and proof of residence.
- No or limited service in Afghanistan, Canada, Cuba, Hong Kong, Iran, India, Japan, Malaysia, Nepal, North Korea, Syria, Uzbekistan, Crimea, Donetsk, Luhansk and US territories; OKX US does not serve New York; some products restricted in Australia, Brazil, the UK and others.
History
| Date | Event |
|---|---|
| 2017 | Aux Cayes FinTech Co. Ltd., doing business as OKEx and OKX, has operated the exchange since at least 2017, according to US prosecutors. |
| November 2022 | First proof-of-reserves report published. |
| March 2023 | Proof of reserves moved to zk-STARK zero-knowledge proofs. |
| 13 October 2023 | OKX SG Pte. Ltd. became the contracting party for licensed services in Singapore for users registering from this date. |
| 17 September 2024 | Dubai's VARA issued OKX Middle East Fintech FZE a VASP licence. |
| 27 January 2025 | OKCoin Europe Ltd (now OKX Europe Limited) authorised by the Malta Financial Services Authority as a crypto-asset service provider under MiCA. |
| 24 February 2025 | Aux Cayes FinTech Co. Ltd. pleaded guilty in the Southern District of New York to operating an unlicensed money transmitting business and agreed to pay more than $504 million. |
| 1 April 2025 | Malta's FIAU imposed an administrative penalty of €1,054,269 on OKCoin Europe Limited (now OKX Europe) for anti-money-laundering breaches found in a 2023 examination. According to the FIAU notice of 3 April 2025, the penalty was not yet final and could be appealed. |
| 28 July 2025 | France's AMF struck off OKX France Technology Company Limited SAS, registered as a digital asset service provider (PSAN E2023-106) since 12 December 2023, after it ceased activity. |
| 31 October 2025 | OKCoin Europe Ltd changed its legal name to OKX Europe Limited, according to its LEI record. |
| 19 February 2026 | OKX Fintech, S.A. de C.V. became the contracting party for users in El Salvador, and through its Argentina branch for users in Argentina, who registered from this date. |
| October 2026 | 48th monthly proof-of-reserves report published. |
Risks and caveats
- Under OKX's global Terms of Service, which cover users of Aux Cayes, OKX Bahamas, OKX Brazil and OKX Singapore, user assets are pooled and not covered by deposit protection or deposit insurance; in a shortfall they may not be fully recoverable.
- In February 2025 the OKX operating company Aux Cayes FinTech Co. Ltd. pleaded guilty in the US to operating an unlicensed money transmitting business.
- In April 2025 Malta's FIAU imposed a €1,054,269 administrative penalty on OKX's EU company, then OKCoin Europe, for anti-money-laundering breaches; according to the FIAU notice of 3 April 2025, the penalty was not yet final and could be appealed.
- Services, fees and the contracting company differ by country, and several countries are restricted.
- OKX's global terms are governed by the laws of England and Wales; disputes go to HKIAC mediation and then arbitration seated in Hong Kong, and claims may be brought only individually, not as class actions.
- OKX US accounts are not covered by FDIC, NCUA or SIPC protection, and in the EEA crypto-assets are outside investor compensation and deposit guarantee schemes.
About the company
- Legal entity
- Aux Cayes FinTech Co. Ltd. (Seychelles) for users outside regions served by a local OKX company
- Founded
- About 2017
- Regional companies
- OKX Europe Limited and OKX Europe Markets Limited (Malta), OKX Middle East Fintech FZE (Dubai), OKX Inc. (US), OKX Australia Pty Ltd and OKX Australia Financial Pty Ltd (Australia), OKX SG Pte. Ltd. and OKX Financial Pte. Ltd. (Singapore), OKX Serviços Digitais Ltda. (Brazil), OKX Fintech, S.A. de C.V. (El Salvador, with an Argentina branch) and OKX Bahamas FinTech Company Limited (the Bahamas), among others
- Formerly
- OKEx
- Own token
- OKB
- Legal entity (US)
- OKX Inc., a Delaware corporation, formerly OKCoin USA Inc.
- Formerly (EU company)
- OKX Europe Limited, renamed from OKCoin Europe Ltd with effect from 31 October 2025
Official links
- Website: www.okx.com/en-ae/about
- Fees: www.okx.com/en-eu/fees
- Proof of reserves: www.okx.com/en-ae/proof-of-reserves
- Terms of use: www.okx.com/en-ae/help/terms-of-service
- Licences: www.okx.com/en-us/help/us-licenses
- Security: www.okx.com/en-ae/wallet-security
Questions and answers
Is OKX regulated?
OKX operates through regional companies. Regulator registers list OKX Europe Limited as a MiCA crypto-asset service provider authorised in Malta and OKX Middle East Fintech FZE as a VARA licensee in Dubai; OKX Inc. holds US state money transmitter licences, and residents of Australia are served by OKX Australia. OKX's Terms of Service name further local companies, for example in Singapore, Brazil and El Salvador. Users in regions without a local OKX company contract with Aux Cayes FinTech Co. Ltd. in the Seychelles.
Does OKX publish proof of reserves?
Yes. OKX publishes a monthly self-produced report using zk-STARK proofs; the October 2026 report showed reserve ratios of 110% for BTC, 100% for ETH and 105% for USDT.
What are OKX's fees?
Spot fees depend on the region: regular users pay 0.08% maker and 0.10% taker at OKX Europe, 0.20% and 0.35% at OKX US, and 0.40% and 0.60% at OKX Middle East.
Has OKX faced enforcement action?
In February 2025 Aux Cayes FinTech Co. Ltd., which operates OKX, pleaded guilty in New York to operating an unlicensed money transmitting business and agreed to pay more than $504 million. In April 2025 Malta's FIAU imposed a €1,054,269 administrative penalty on OKX's EU company for anti-money-laundering breaches; according to the FIAU notice of 3 April 2025, the penalty was not yet final and could be appealed.
Is OKX available in the US?
US residents of approved states are served by OKX Inc. under separate terms; it does not serve residents of New York, American Samoa, Guam, the Northern Mariana Islands or the US Virgin Islands.
Which OKX company would I have a contract with?
It depends on where you live: OKX Europe Limited in the EEA (OKX Europe Markets Limited for expiry futures), OKX Inc. in the US, OKX Australia in Australia, OKX Middle East Fintech FZE in the UAE, OKX SG for licensed services in Singapore (OKX Financial for unlicensed products such as payment token derivatives), OKX Serviços Digitais in Brazil, OKX Fintech, S.A. de C.V. for users in El Salvador and, through its Argentina branch, in Argentina who registered from 19 February 2026, and OKX Bahamas for users in Mexico who registered between 16 November 2022 and 28 August 2023 and for institutional users registered from 29 August 2023. Users in regions without a local OKX company contract with Aux Cayes FinTech Co. Ltd. in the Seychelles, which also offers futures, options and margin lending.
Is OKX available in the UK?
OKX restricts its derivatives, CeFi and P2P services in the United Kingdom. On 28 October 2026 the FCA Financial Services Register listed no authorised OKX firm: searches for “OKCoin” and “Aux Cayes” returned no results, and “OKX” returned two firms, “OKX AI” and “THE OKX CRYPTO FIELD”, both marked “Unauthorised”.
Are funds on OKX insured or protected?
No. OKX's global Terms of Service say user assets are pooled and not covered by deposit protection or deposit insurance; OKX US accounts are not covered by FDIC, NCUA or SIPC, and in the EEA crypto-assets are outside investor compensation and deposit guarantee schemes.
Sources
- OKX — About us
- OKX — Proof of Reserves
- OKX — Terms of Service
- OKX — Terms of Service (EEA)
- OKX — Terms of Service (US)
- OKX — Risk and Compliance Disclosure
- OKX — Fee schedule (EU)
- OKX — Fee schedule (US)
- OKX — Fee schedule (Australia)
- OKX — Security of funds
- US Attorney's Office SDNY — OKX pleads guilty (24 February 2025)
- OKX — U.S. Licenses
- OKX — Fee schedule (UAE)
- ESMA — Interim MiCA register of crypto-asset service providers
- VARA — Public register
- FIAU Malta — Administrative measure publication notice, OKCoin Europe Limited (published 3 April 2025)
- GLEIF — LEI record of OKX Europe Limited
- BaFin — Company database, OKX Europe Markets Limited
- AMF — White lists (listes blanches)
- AMF — Struck-off digital asset service providers (PSAN radiés)
- CNMV — Entity information, OKX Europe Limited
- FCA — Financial Services Register search
- OKX — Fee schedule (Brazil)
- OKX — Fee schedule (Singapore)
- FinCEN MSB Registrant Search
- FCA Financial Services Register
- FCA, cryptoasset AML/CTF regime
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