Pros and Cons of OKX App: A Comprehensive Review (2024)

Out of all the cryptocurrency exchanges out there, there are particular aspects of OKX that make it stand apart from its competitors and have led to it being placed as a top exchange in select categories in our Top Exchanges article, while also being firmly cemented as a top 10 exchange according toCoinGecko.

The OKX mobile app is one of those aspects and one of the reasons why OKX is utlized by millions of users worldwide, receiving overwhelmingly positive reviews across app stores and review sites alike.

OKX is not only designed beautifully, but the app comes equipped with a user-friendly interface and advanced features. The OKX app has gained immense popularity among traders, but, is it really worth investing your time and money in? In this comprehensive OKX app review, we will uncover the pros and cons of the mobile app and help you make an informed decision. From the security measures to the trading fees, we will analyze every aspect of this popular trading app to give you a clear understanding of what it has to offer.

So, whether you're a seasoned trader or a complete newbie, read on to discover everything you need to know about the OKX app and whether it's the right choice for you.

As this OKX app review is only covering the mobile app, if you are considering using OKX, you may want to check out our detailed OKX review, where we do a deep dive into all the features, functions, fees and more.

In addition, we also have articles that dive into other aspects of the OKX Exchange:

• OKX Trading Bots: Automated Trading on OKX
• OKX Earn: Earn interest while Hodling at OKX
• OKX Lending: Crypto Lending Made Easy!
• OKX Wallet: The Portal to Web3
• OKX Security: Is OKX Safe?
• How to Sign-Up on OKX
• OKX NFT Marketplace

Note: Users located in the US and UK are not supported.

OKX App: Pros

When it comes to cryptocurrency trading, OKX App has a lot to offer. Here are some of the pros of using the OKX App:

1. Beautiful Design and Layout

Okay I know, the aesthetics of a crypto trading app shouldn’t be the first thing on the list, but I’m a sucker for pretty things. I mean, come on, just look at the design. Serious kudos to the design team and artists behind the platform, the app is nearly as nice as the Exodus wallet:

While many of you reading this may not care much for “style points,” I know I would rather use an app packed with eye candy over something that looks like a Nintendo emulator straight out of the year 1998.

• User-friendly interface

One of the major advantages of the OKX app is its user-friendly interface. The app is well-designed in terms of drop-down menus and icon placement, making it intuitive and easy to navigate. Whether you're a beginner or an experienced trader, you will find it fairly straightforward to use the OKX app and find your way around. The app is available for both iOS and Android devices, and you can download it from the App Store or Google Play.

• Advanced trading features

The OKX app comes with a range of advanced trading features that make it possible for traders to manage their portfolios. The app allows you to set stop-loss orders, limit orders, and take-profit orders. You can also use the app to trade on margin and to access a range of trading tools, indicators, and crypto-centric products aside from trading, some of which will be covered later on.

The range of advanced trading features can also be considered a con for new users, in the interest of full transparency, we will elaborate on this in the next Cons section.

• Wide range of cryptocurrencies

OKX App supports a wide range of cryptocurrencies (over 200 cryptocurrencies and 400 trading pairs), including Bitcoin, Ethereum, Litecoin, and stablecoins. This makes it easy for traders to diversify their portfolios and take advantage of different market conditions. The app also supports a huge range of fiat currencies (50+), including USD, EUR, and GBP and more.

• Low fees

OKX is among the lowest-fee exchanges in the space, offering similar rock-bottom fees competing with the likes of Binance and KuCoin.

• Web3 Wallet

Users can access and explore the Web3 universe with the help of the decentralized multi-chain wallet known as OKX Web Wallet. It is a digital wallet that gives users access to over 1,000 DApp protocols and features, including multi-chain and cross-chain DEX, yield farming, NFT marketplace, and DApp discovery, as well as the ability to store any digital assets that are exchanged through the exchange.

The OKX Web3 wallet is quite an innovation of its own, which is why we have a dedicated OKX Web Wallet Review where we explore it in depth.

• KYC Security

It's important to minimise the risk of fraud on a cryptocurrency exchange. Therefore, all users will need to undergo KYC and identity verification to reach higher limits and certain functions.

You can find more information about theOKX KYC levels and limits from their support site.

Cons of the OKX App

While OKX App has many advantages, there are also some drawbacks.

Here are some of the cons of using the OKX app:

• Limited payment options

This is probably the largest drawback to OKX is the fact that there is no fiat offramp, meaning no swapping for fiat and withdrawing to a bank account. If you are needing an exchange with full banking support, I would recommend Binance, Kraken, Coinbase, or Bitget.

Though the fiat support for buying crypto is impressive, a downside is that all crypto purchases are made with a bank card, or through third-party intermediaries, some of which charge higher-than-average fees. Typically, when it comes to exchanges, getting your money onto an exchange is cheapest when the exchange can facilitate direct bank deposits or connections to bank accounts. OKX lacks this feature which is why many crypto users will still use an exchange like Crypto.com, Kraken, or Binance to deposit funds, then simply transfer crypto to OKX to take advantage of the exchange.

• Full-featured platform

As mentioned in the Pros section, the OKX app has a huge selection of advanced crypto trading products and features available, which can be a double-edged sword.

While the OKX app is user-friendly and beginners can quickly get the hang of it, the fact that OKX is suitable for advanced traders as well as features a huge range of crypto products means that there are plenty of functions, features, and entire areas of the app that new traders may find overwhelming, making it not the most beginner-friendly crypto trading app.

The app can feel quite confusing for new users with all sorts of features and settings that many of us will never use. If you are looking for a simple no-frills crypto app, I would recommend SwissBorg or Kraken as being the most beginner-friendly.

Fortunately though, to try and combat this, users can easily switch between Lite, Web3, and Pro modes to help make it easier for new users not needing all the bells and whistles.

OKX App User Experience

The user experience with the OKX app is generally positive among the community according to reviews and Twitter/Reddit statements. After using the app myself, I found the app to be well-designed and easy to navigate. While I don’t typically use mobile apps for frequent trading due to the small screen and lack of additional monitors and research tools, (I go into more detail on why traders don’t use mobile apps in our Coinbase Review), the app does have a suitable range of trading tools and features that make it easier for traders to manage their portfolios on the go.

I found the app served its purpose well of being able to keep an eye on your portfolio, manage open positions, and for the odd time you do need to place a trade while away from a computer. The app also gives users the ability to:

• Trade Spot, Margin, and Derivatives
• Access Lite and Pro versions on the same app
• Buy crypto with card
• Access the P2P exchange
• Access Earn to benefit from DeFi and earn passive income on your crypto.
• Utilize OKX Trading Bots
• Get crypto insights and alerts on the go
• Use the analysis feature to view the profit and loss (PnL) performance trend for your portfolio over a daily, monthly, or self-selected period. Users can gain insights to help manage investment portfolios in the areas of finance, data analytics, pool mining, and cryptocurrency wallets.

However, I should mention that some users have reported issues with the app's stability, and trade execution, particularly during times of high trading volume. These complaints are not common and may have had something to do with the trader’s network connection as opposed to the app itself, and I have never personally encountered any connectivity issues.

I have had issues with frequent redesigns of the apps where certain features and functions have moved or disappeared. One of my favourite features was that there used to be Satoshi giveaways for daily logins and a simple betting feature where you’d bet Satoshis whether you thought the price of BTC would go up or down in the next 24 hours. Those features disappeared without warning, which was a bummer, so I would also warn about not becoming too attached to some functions of the app as they may randomly disappear one day 😡

Security Measures of the OKX App

OKX takes security seriously, the app has a range of security measures in place to protect users' funds. The app uses two-factor authentication (2FA) and passwords to secure user accounts, takes advantage of mobile biometrics security, and also has a range of other security features, such as SSL encryption and cold storage for user funds.

The OKX approach to security and cold storage solutions is actually one of the most robust I’ve seen in the industry and I have long been impressed by the security measures and protocols in place. I won’t go into detail here as we cover it in our dedicated OKX review. You can also take a look at their multi-pronged approach to security on theirSecurity Page.

Comparison with Other Trading Apps

Compared to other cryptocurrency trading apps, the OKX app has some advantages and disadvantages. When compared to Coinbase, the OKX app has a far wider range of cryptocurrencies and more advanced trading features. However, Coinbase has better customer support, benefits from a stronger reputation, is regulated, and is more beginner friendly.

A note on Coinbase though, it is great for beginners, but I have found it quite common for many traders to “outgrow” Coinbase and move onto an exchange such as OKX, Bitget, or Binance to access the lower fees and more trading functionality, as well as a better selection of crypto products like staking, earn, crypto borrowing, lending, and more.

When compared to Binance, the OKX app has better security measures and access to the Web3 Wallet, but Binance has a wider range of payment options and better fiat on and off-ramp support. You can learn more about Binance and why it is crowed as “The King of Exchanges” in our Binance review.

The comparison to SwissBorg is an easy one, as these two are cut from a very different cloth. SwissBorg might be the easiest to use and one of the most unique crypto apps around. SwissBorg is not suitable for trading with technical analysis, as there is no charting functionality, but the platform aggregates low-fee swaps from many leading exchanges to provide users with simple one-click trading. SwissBorg is also more of a crypto wealth management platform as opposed to a trading exchange like OKX. You can learn more about it in our SwissBorg review.

OKX App Customer Support

OKX app customer support is pretty good, not great, not bad. Some users report slow response times, though I cannot say I found the support times too terrible. I have used OKX in the past and found their support to be adequate, and for the purpose of this review, I tested their support response times over a span of 3 days, messaging in at different times of the day with a mix of simple and complex answers.

I found I received responses within a minute or two in most cases, with some of the more complex questions taking over ten minutes so they could track down the answer. The quality of the support wasn’t great as it was mostly just generic responses and links to the self-help section. The support wasn’t “wow-worthy” like with exchanges such as Kraken, but if I were grading it, I’d give it a solid B minus.

How to Get Started With the OKX App

Getting started with the OKX app is easy. Simply download the app from the App Store or Google Play, and create an account. OKX require KYC for all trading levels, but if you already have an OKX account for the web platform, you will be able to log in with those details and not need to go through KYC again.

Once you've done that, you can start buying and selling cryptocurrencies on the app. Here are those steps broken down:

1. First thing you will need to do iscreate an account. This can be done with your phone number, email, Telegram or Google account.

2. Once you have an account, on the main page you will be able to buy, sell, or convert your crypto as well as access the areas where you can earn, check the markets, access the wallet, and explore rewards and educational resources.

3. The OKX app supports buying crypto with a card directly from your mobile. All you need to do is click the “buy” button which is accessible on multiple screens, select the crypto to buy and enter your card details to complete the purchase. The funds will be automatically deposited into your account.

Converting crypto is the easiest way to swap assets once you have your account funded. Simply hit the “Convert” button as you can see in Step 2 and select the assets you want to exchange.

If you want the ability to set limit orders, access derivatives, and spot trade, you can hit the “Trade” icon from Step 2 and that will take you to the order interface:

Other than buying and selling, you will also find options to navigate to savings, OKX Earn, loan, jumpstart, learn, send, and get technical support.

OKX App Fees and Charges

As mentioned earlier, OKX is one of the lower fee exchanges out there, with the highest fees traders needing to pay being 0.1% per trade. These fees can be made even lower depending on tier level which is determined by 30-day trading volume and asset/OKX token holdings. Here is a look at the OKX fee structure to give you an overview of trading fees:

OKX App Review: Final Verdict