OKX exchange profile

Profile of OKX: exchange information, markets and recorded details on GradeMarket.

OKX is one of the world's largest cryptocurrency exchanges, offering competitive trading fees and a comprehensive suite of advanced trading tools. Its spot trading fees start at 0.08% maker and 0.10% taker, while futures fees are as low as 0.02% maker and 0.05% taker. According to OKX's official Terms of Service, Iran is listed as a restricted jurisdiction. If you're looking for a major exchange with deep liquidity and a broad ecosystem—from a Web3 Wallet to DeFi services—OKX is a strong contender. However, it is officially unavailable to users in Iran.

The $504 Million Penalty That Proved Even Industry Giants Aren't Immune to U.S. Regulators

In February 2025, the U.S. Department of Justice announced that OKX had pleaded guilty to operating an unlicensed money-transmitting business and agreed to pay more than $504 million in fines and forfeitures.

According to reports by CoinDesk and The Block, investigators found that despite publicly claiming not to serve U.S. customers, OKX had assisted certain American users in providing false information to bypass identity verification controls. Authorities alleged that more than $5 billion in suspicious transactions had been processed through the platform in this manner.

The case resulted in one of the largest anti-money laundering (AML) penalties in cryptocurrency industry history. Following the settlement, OKX committed to a comprehensive overhaul of its compliance program.

Key Features

• Extremely high liquidity, consistently ranking among the world's largest exchanges by trading volume
• Eight-tier VIP program with maker rebates available at the highest levels
• Up to 40% trading fee discounts for users holding the OKB token
• Integrated Web3 Wallet, DeFi access, and NFT marketplace
• Support for spot, margin, futures, and options trading within a single platform

Fees and Costs

For spot trading, the base fee is 0.08% for makers and 0.10% for takers.

For futures and perpetual contracts, fees drop to 0.02% maker and 0.05% taker.

Users who achieve higher monthly trading volumes or hold sufficient amounts of OKB can qualify for VIP status, where maker fees may even become negative, allowing traders to receive rebates.

Security and Trust

OKX regularly publishes Proof of Reserves, helping users verify that customer assets are fully backed.

The exchange has not experienced a major security breach resulting in customer fund losses. However, the February 2025 enforcement action highlighted that OKX's greatest challenge has been regulatory compliance rather than technical security. Under its agreement with U.S. authorities, the exchange will remain under the supervision of an independent compliance monitor through 2027.

Support for Iranian Users

According to OKX's official Risk Disclosure and Compliance Policy, Iran is explicitly listed as a restricted jurisdiction. Due to international sanctions, the exchange does not provide services to Iranian users.

Even if someone registers using a VPN or another method to mask their IP address, the Know Your Customer (KYC) process typically verifies the issuing country of identity documents, preventing users with Iranian identification from completing verification.

While these policies could change in the future, OKX is currently not an officially accessible or reliable option for Iranian users.

Pros and Cons

Pros

• Excellent liquidity and deep order books
• Competitive futures trading fees, especially for VIP users
• Comprehensive ecosystem including Web3 Wallet, DeFi services, and NFT marketplace

Cons

• Officially restricts users from Iran under its AML and sanctions policies
• Paid a $504 million regulatory settlement over unauthorized U.S. operations
• Platform can feel overwhelming for complete beginners

Compared with Competitors

In terms of futures trading fees, OKX is broadly comparable to Binance and Bybit, and at certain VIP levels it can even be more cost-effective.

Its greatest competitive advantage is the breadth of its ecosystem. Few exchanges integrate a Web3 Wallet, DeFi services, NFT marketplace, and options trading as seamlessly as OKX.

However, for Iranian users, exchanges that do not officially classify Iran as a restricted jurisdiction are generally more practical choices.

How to Sign Up in Three Steps

1. Register on the official OKX website or mobile app using a valid email address or a non-Iranian phone number.
2. Upload valid non-Iranian identity documents to complete the KYC verification process.
3. Once your identity has been approved, fund your account and begin trading.

Frequently Asked Questions

Does OKX work for Iranian users?

No. Under OKX's official policy, Iran is listed as a restricted jurisdiction.

What are OKX's trading fees?

At the base tier, spot trading fees are 0.08% maker / 0.10% taker, while futures trading fees are 0.02% maker / 0.05% taker.

Is OKX safe?

From a technical security standpoint, the exchange has no history of major hacks resulting in customer fund losses. However, in 2025 it paid a substantial regulatory penalty for violations related to anti-money laundering compliance.

Final Verdict and Rating

• Security: 7/10
• Fees: 8/10
• Persian-language Support: 1/10

OKX is an excellent platform for experienced traders seeking high liquidity, advanced trading tools, and a broad crypto ecosystem. However, because it officially restricts users from Iran, it is not a practical choice for Iranian residents.

This review is based on information available as of 2026. Exchange policies, fees, supported jurisdictions, and regulatory status may change over time. Always verify the latest information on OKX's official website before creating an account.