OKCoin Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- Proprietary trading terminal with extended functionality on the charts, from fiat only US dollar, high level of protection of user data, insurance fund
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- Proprietary trading terminal with extended functionality on the charts, from fiat only US dollar, high level of protection of user data, insurance fund
Our Evaluation of OKCoin
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
OKCoin is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 4.76 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by OKCoin clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The OKCoin crypto exchange offers simple and convenient functionality for buying and selling cryptocurrencies. There are many crypto-to-crypto and crypto-to-fiat pairs based on the US dollar. An individually customizable investment portfolio in combination with a profitable referral program allows you to receive significant passive income. Commissions are below average for the segment. The high level of security of the platform is noted, and both the hot and cold methods of storing cryptocurrencies are used here.
Brief Look at OKCoin
The OKCoin exchange is a cryptocurrency trading platform with extensive investment opportunities. You can trade Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), TRON, and dozens of other cryptocurrencies. Of the fiats, only the US dollar is represented. The investment system is a regularly updated list of deposits in affiliate projects with interests of up to 14%. The user forms his own investment portfolio. The exchange has its own trading platforms in two versions — web and mobile. Leverage of 1:3 is available for margin trading. There are several options for depositing and withdrawing funds, including bank cards and accounts. The crypto exchange is characterized by high-level security for users’ data protection. An extensive and extended verification is required.
- the simple and intuitive interface of the trading terminal;
- margin trading with leverage is available;
- all major cryptocurrencies are traded on the exchange;
- convenient investment system with a customizable portfolio;
- terminal charts have many built-in tools;
- negative balance prevention is in effect;
- security is provided by SSL and AES encryption;
- has three active regulatory licenses.
- the platform is presented in two languages only — English and Chinese;
- the only fiat is the US dollar.
TU Expert Advice
Financial expert and analyst at Traders Union
The OKCoin crypto exchange is well known in Europe and Asia. It was founded in 2014 and is headquartered in Hong Kong and China, but the company also has physical offices in the U.S., Malta, Singapore, Japan, and Korea. There are three licenses, all valid: FinCEN NMLS No. 1767779; FINTRAC No. M20929749; and the Central Bank of the Netherlands No. C88193. The company acts transparently, and no fraudulent incidents have been registered.
The cryptocurrency exchange's proprietary trading terminal is typical, but it has several serious differences from its counterparts. The first concerns the extended functionality for charts, where, in addition to a variety of indicators and markers, there are additional tools, for example, a reversal of Fibonacci levels. For an experienced trader, the terminal allows you to implement any strategy with high efficiency.
In general, the interfaces of the site and terminal are characterized as intuitive and convenient for beginners. There are no educational guides or programs, but there is a constantly updated section with news and analytics. Another feature of the exchange is the availability of an investment program with a customizable portfolio. For most contracts, interest payments are daily. In this regard, the exchange can be recommended for cooperation for beginners, experienced crypto traders, and investors.
OKCoin Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Proprietary platform |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, USD |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | US$1 |
| ⚖️ Leverage: | 1:3 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, USD |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | Proprietary trading terminal with extended functionality on the charts, from fiat only US dollar, high level of protection of user data, insurance fund |
| 🎁 Contests and bonuses: | Traders Union’s rebates service |
The OKCoin crypto exchange has set a minimum deposit of just $1, which is convenient for novice traders. Moreover, if you deposit funds in cryptocurrency, then there is no minimum deposit. You may deposit any amount of cryptocurrency from your other wallets. For margin trading, a leverage of up to 1: 3 is set, which allows you to increase the potential profit from trades, but at the same time increases the risks. Contact the technical support service - by phone and e-mail. The main trading conditions are presented in the table below:
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Commissions and fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 0.15% per order | Yes, for fiat |
Of the restrictions on the amount of deposit/withdrawal, there is only a limit on the daily withdrawal of funds. For fiat, the limit is USD 5,000; for crypto, it is ₿16 (or the equivalent in another cryptocurrency). The table below shows a comparison of the commission conditions of several leading crypto exchanges:
| Broker | Average commission | Level |
|---|---|---|
|
$0.1 | |
|
$20 | |
|
$0.1 |
Investment Options
The OKCoin crypto exchange offers an extensive investment program. In the corresponding section of the site, the offers of the affiliates of the platform are published. These are business representatives who use cryptocurrencies for their own purposes. When they need significant investments in new projects, they use the funds of the investors on mutually beneficial terms. The offer includes the following parameters:
deposit coin;
contract protocol;
brief description of the contract;
term of the deposit;
interest rate to be paid.
If the investor is interested in the offer, he can open it and read the extended information. After the investor has chosen the offer, he reserves a deposit in his account. The minimum and maximum sizes of the deposit are determined by a specific contract. The term of the deposit is most often flexible, only for some contracts, it is fixed.
The flexible term means that the investor can withdraw the deposit (or part of it) at any time. The recalculation of interest is made under the new incoming conditions during the working day.
An investor can choose several contracts at once, and there are no restrictions. However, each contract requires the investment of a certain value of coins because there is no automatic conversion. This means that the specified coin must be on the investor's multi-account in an amount sufficient for the minimum deposit.
The list of offers from affiliates of the OKCoin crypto exchange is constantly updated. The interest rate can be up to 14%. For offers with the best rate, the deposit period is usually fixed. This means that before the expiration of the specified contract period, the investor cannot use his deposit.
Please take into account that some offers are subject to refunds in a different currency. For example, you may make a deposit in STX and receive interest payments in BTC.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
OKCoin’s affiliate program:
OKCoin offers two programs for affiliate earnings - "Refer a friend" and "Affiliate promotion". They can be activated simultaneously. Here are the terms of the “Refer a Friend” program:
After registration and verification in your personal account, a personal affiliate link will be available to you. Each user who comes to the platform through it can bring you income.
The user who comes using your link needs to register and go through verification. Then he needs to make a deposit in any currency, in an amount equivalent to at least 100 US dollars.
After your affiliate makes trades for a total volume of at least $100, both of you will receive a one-time payment of $10.
The "Affiliate Promotion" program differs in that each user you invite will bring you not a one-time income, but a perpetual one. The income you receive from an affiliate is a percentage of the trading fees charged by the crypto exchange. The percentage depends on the affiliate's trading volume and can reach 30% of his commissions.
The "affiliate promotion" is unlimited, and you can have an unlimited number of referrals, and each of them will bring you income while trading on the platform. Please note that bonus payments for the “Refer a Friend” and “Affiliate Promotion” programs are carried out in Bitcoins. Bonus funds are credited within a day after the conditions are met.
User Satisfaction