Learn more about TU’s methodology
- $1
- OpenOcean DEX aggregator (web platform)
- Cross-chain swaps
- Gas fee refunds for OOE stakers.
Our Evaluation of OpenOcean
Learn more about TU’s methodology
OpenOcean is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.1 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 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.
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.
How we tested OpenOcean
Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
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.
We've identified your country as
US
We have thoroughly analyzed all companies legally providing trading services in your country and created a ranking of the best ones. Our analysis highlights companies that offer optimal working conditions, uphold a strong reputation, and consistently receive the highest number of positive reviews from traders on our website.
Explore the 5 top-rated companies in
US :
- 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 Verdict
Chief Analytics Officer
OpenOcean is a decentralized exchange aggregator offering token swaps, cross-chain swaps, and derivatives trading across over 30 blockchains. The platform delivers a web-based interface and intelligent trade routing, aiming for competitive pricing and low slippage. Users can access trading with a minimum deposit of $1 via crypto wallets, and benefit from passive income opportunities such as OOE staking and liquidity provision. OpenOcean charges a 0.1% spot trading fee and provides partial gas fee refunds to qualifying OOE stakers, making it attractive for cost-conscious and active cryptocurrency traders seeking diverse blockchain access.
However, a notable drawback is the lack of Tier-1 regulation, as OpenOcean is only government-regulated in select jurisdictions and lacks the investor protection fund provided by leading exchanges. Other disadvantages include withdrawal fees, non-support for bank payment methods, mandatory staking for certain benefits, and some features remaining in beta. OpenOcean may not be suitable for those prioritizing top-level regulatory protection, fiat funding, or fully mature feature sets, but could appeal to crypto traders comfortable with wallet-only platforms and focused on multi-chain functionality.
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 |
| 💼 Copy Trading: | 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
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.
- Government-regulated
- No successful hacks history
- Cold wallet storage
- 2FA
- Not tier-1 regulated
- No facial recognition
- No investor protection fund
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 | Kraken | OKX | |
| Tier-1 regulation | No | Yes | No |
| Government-regulated | Yes | Yes | Yes |
| Investor protection fund | No | No | Yes |
| 2FA | Yes | Yes | Yes |
| Facial recognition | No | No | Yes |
| 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.
Is OpenOcean available in the USA?
Yes, OpenOcean is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.
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 | CoinMetro | Industry average | |
| Spot, maker fee (%) | 0.1 | 0.22 | 0.1 | 0.15 |
| Spot, taker fee (%) | 0.1 | 0.22 | 0.2 | 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
- No Google Pay option
Deposit and withdrawal options
OpenOcean supports the following deposit and withdrawal options: Crypto.
OpenOcean Deposit and withdrawal options vs competitors
| OpenOcean | Kraken | OKX | |
| Bank transfers | No | Yes | No |
| Bank card | No | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| PayPal | No | Yes | No |
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 | Kraken | OKX | |
| Minimum deposit, USD or USDT | 1 | 10 | 10 |
| Minimum deposit, BTC | 0 | 1 | 5 |
| Minimum trade amount, USD/USDT | 1 | 1 | 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:
-
Liquidity Providing. By adding liquidity to pools on OpenOcean, users earn a 0.15% share of a trading fee on each trade.
-
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.
-
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.
-
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/ |
|---|
Articles that may help you
