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
- OpenOcean DEX aggregator (web platform)
- Cross-chain swaps
- Gas fee refunds for OOE stakers.
Our Evaluation of OpenOcean
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
OpenOcean is a high-risk cryptocurrency exchange with the TU Overall Score of 2.4 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by OpenOcean clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker.
OpenOcean provides a convenient and cost-effective solution for cryptocurrency exchange, especially for those seeking favorable rates across multiple blockchains. It's a great platform with a wide range of features for traders who want to maximize their profits while minimizing costs.
Brief Look at OpenOcean
OpenOcean is a decentralized exchange (DEX) aggregator that helps its users find best cryptocurrency exchange options. The platform offers intelligent routing to make trading and token swaps easier and more profitable. OpenOcean provides access to over 30 blockchains for trading derivatives and using cross-chain swaps. OOE, the platform’s native token, allows users to participate in platform governance through a decentralized autonomous organization (DAO), pay fees for certain transactions, and receive discounts on blockchain fees.
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- Best rates for token swaps;
- Support for over 30 blockchains;
- Gas fee refunds;
- Over 1,000 aggregated liquidity sources.
- Some features are still in beta testing;
- Staking is required to receive certain benefits.
TU Expert Advice
Author, Financial Expert at Traders Union
OpenOcean is a decentralized exchange aggregator offering token swaps and derivatives trading with support for over 30 blockchains. Traders benefit from cross-chain swaps and gas fee refunds for OOE stakers, providing a cost-effective trading experience. Additionally, OpenOcean aggregates liquidity from multiple sources, optimizing trade routing and minimizing fees, which may appeal to traders seeking competitive pricing.
However, some features are still undergoing beta testing, and staking is required for certain benefits, which may not suit all users. OpenOcean is not directly regulated by government authorities in the U.S and offers limited direct fiat deposit and withdrawal options, potentially inconveniencing some investors. Due to these drawbacks, the platform may be more suitable for experienced traders comfortable with using crypto without extensive traditional regulatory safeguards.
OpenOcean 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: | OpenOcean DEX aggregator (web platform) |
|---|---|
| 📊 Accounts: | Wallet-only access |
| 💰 Account currency: | USDT, BNB, ETH, etc. |
| 💵 Deposit / Withdrawal: | Crypto wallets |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | Based on a chosen DEX and blockchain |
| 💱 Commission: | Spot: 0,1%-0,1% |
| 🔧 Instruments: | Token swaps and derivatives |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Using a mobile web browser |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Liquidity aggregator with intelligent routing |
| ⭐ Trading features: |
Cross-chain swaps; Gas fee refunds for OOE stakers. |
| 🎁 Contests and bonuses: | No |
OpenOcean aggregates liquidity from multiple DEXs to optimize trade routing and minimize fees and slippage. It supports token swaps, cross-chain swaps, and derivatives trading through integrated exchanges.
OpenOcean Key Parameters Evaluation
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Regulation and safety
With a 6.75/10 score, OpenOcean demonstrates a moderate level of security and regulation. While the platform meets basic safety standards, it may not offer the same level of protection as higher-rated exchanges.
- 2FA
- Cold wallet storage
- Government-regulated
- No successful hacks history
- No facial recognition
- No investor protection fund
- Not U.S regulated
OpenOcean Security Factors
We also compared OpenOcean against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
| OpenOcean | OKX | Kraken | |
| Tier-1 regulation | No | No | Yes |
| Government-regulated | Yes | Yes | Yes |
| Investor protection fund | No | Yes | No |
| 2FA | Yes | Yes | Yes |
| Facial recognition | No | Yes | No |
| Cold wallet storage | Yes | Yes | Yes |
| Successful hacker attacks | No | No | No |
Is OpenOcean a regulated crypto exchange?
OpenOcean is regulated by a government authority, ensuring compliance with national and international standards. However, it does not hold Tier-1 regulation (e.g., in the U.S., UK, Germany, Spain, France, Australia, Singapore, or other jurisdictions with strict financial oversight). While this regulation provides an added layer of security and legitimacy, it may not offer the highest level of investor protection found in top-tier regulatory environments.
OpenOcean is authorized or licensed in accordance with local regulations in the following regions: Finland.
Is verification (KYC) mandatory at OpenOcean?
Yes, KYC verification is mandatory at OpenOcean. You will need to complete the verification process before you can open an account and access the platform's full range of services.
In which countries is OpenOcean available?
OpenOcean complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: Botswana, Tanzania, United Republic Of, Zimbabwe, Namibia, Ethiopia, Jamaica, Zambia, Hong Kong, Afghanistan, Trinidad and Tobago, Brunei, Nepal, Serbia, Somalia, Cameroon, Rwanda, Slovenia, Eswatini, Croatia, Mongolia, Burma, Montenegro, Cambodia, Taiwan, Mozambique, Madagascar, Dominican Republic, Albania, Mauritius, Puerto Rico, Cote d'Ivoire, Laos, Macedonia, Papua New Guinea, Costa Rica, Luxembourg, Malta, Ecuador, Bahamas, Haiti. For the most up-to-date information on regional availability, please contact OpenOcean support.
Is OpenOcean available in the USA?
OpenOcean is not available in the USA due to regulatory restrictions. In some cases, access might differ by state, so we recommend confirming details with the platform’s support or checking the official website for the latest updates.
You may also consider the top 3 exchanges that are available in the USA and rank highly based on our methodology: OKX, Kraken, Crypto.com .
OpenOcean commissions and fees
OpenOcean received a 7.75/10 score for its trading fees. While OpenOcean is not the cheapest crypto exchange, the fees remain reasonable and competitive within the market.
- Spot fee below industry average
- No deposit fee
- Withdrawal fee may be applied
- P2P fee applied
What are OpenOcean trading fees?
We analyzed OpenOcean’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
OpenOcean trading fees vs competitors
| OpenOcean | Nexus Trade | Paxful | Industry average | |
| Spot, maker fee (%) | 0,1 | 0,22 | 0 | 0.15 |
| Spot, taker fee (%) | 0,1 | 0,22 | 0 | 0.194 |
What are OpenOcean deposit and withdrawal fees?
| Deposit fee, % | 0 |
| Withdrawal fee, % |
Does OpenOcean offer P2P trading?
No, OpenOcean does not support P2P transactions. However, you can explore the best alternatives in our dedicated list of top P2P exchange platforms, offering a variety of secure options for peer-to-peer transactions.
Deposit and withdrawal
OpenOcean received a 2/10 rating for its deposit and withdrawal services. OpenOcean offers limited funding options and may charge fees, which could be inconvenient for many users.
- Many cryptocurrencies for deposits and withdrawals
- No deposit fees
- No PayPal option
- Withdrawal fee applies
Deposit and withdrawal options
OpenOcean supports the following deposit and withdrawal options: Crypto.
OpenOcean Deposit and withdrawal options vs competitors
| OpenOcean | OKX | Kraken | |
| Bank transfers | No | No | Yes |
| Bank card | No | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| PayPal | No | No | Yes |
What is OpenOcean minimum deposit?
The minimum deposit at OpenOcean is 1 USD/USDT or 0 BTC. The minimum trade size is 1 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
OpenOcean minimum deposit vs competitors
| OpenOcean | OKX | Kraken | |
| Minimum deposit, USD or USDT | 1 | 10 | 10 |
| Minimum deposit, BTC | 0 | 0,0005 | 0,0001 |
| Minimum trade amount, USD/USDT | 1 | 0,00001 | 1 |
Does OpenOcean support fiat money?
OpenOcean does not support fiat currencies; only cryptocurrencies are accepted.
Investment Options
OpenOcean offers earning opportunities for both active crypto traders and passive investors.
Available passive income options:
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Liquidity Providing. By adding liquidity to pools on OpenOcean, users earn a 0.15% share of a trading fee on each trade.
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OOE staking. Traders can stake OOE to earn rewards and gas fee discounts. To participate in the program, it is required to stake OOE 8,000.
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Liquidity Mining. Users earn OOE by providing liquidity to certain pools, such as OOE/BNB or OOE/ETH. The program started on July 12, 2021.
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Gas Fee Refund. OOE stakers can receive partial refunds on gas fees up to $1,000 per month for transactions on Ethereum, BNB Chain, Polygon, Fantom, and Avalanche.
-
Dollar-Cost Averaging (DCA). This passive strategy allows users to regularly invest fixed amounts in cryptocurrencies, regardless of their price. This reduces market fluctuation risks and provides average asset price. DCA on OpenOcean operates with no cancellation fees and minimal gas fees.
OpenOcean helps its users streamline their cryptocurrency experience, providing efficient trading, attractive rewards, and seamless access to a diverse range of assets.
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.
Partnership program from OpenOcean
OpenOcean does not offer any referral or partnership programs to retail traders.
Contacts
| Official site | https://openocean.finance/ |
|---|
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