3+ best OKX alternatives & competitors in 2023
OKX is one of more than 500 crypto exchanges operating today. It was founded by Star Xu in 2017. OKX is now the fourth largest crypto exchange in the world and sponsors major sports teams such as Premier League side, Manchester City, and the F1 racing team, McLaren.
Compare the cost of trading and available range of crypto markets to learn if you can trust OKX, or whether its better to find the best OKX alternative.
Quick take: best alternatives to OKX 2023
Top 10 OKX alternatives & similar sites
1. eToro. Best for beginners, copy-trading & demo-account
Pros & Cons
We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.
77% of retail CFD accounts lose money.
2. Public. Best for sharing beginner trading ideas
Pros & Cons
We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.
Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.
The fees: Cryptocurrency trades are charged a 2.5% fee per transaction.
3. Uphold. Best for building long term wealth
Pros & Cons
We love Uphold because it’s a regulated and transparent digital asset platform. There are 160+ cryptocurrencies available to hold and trade, along with three fiat currencies; GBP, EUR, and USD.
Uphold’s key features include the ability to schedule transactions to avoid trying to time the market. With a focus on long term wealth building, Uphold also offers the ability to earn rewards of up to 25% on staked crypto, as well as 4% cashback paid in XRP for purchases made with the Uphold card.
The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.
4. OKX. Best for futures and margin trading
Pros & Cons
We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools.
From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.
The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.
5. Nexo. Best for earning interest & rewards
Pros & Cons
We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.
You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest.
The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee.
6. KuCoin. Best social trading altcoin exchange
Pros & Cons
We love KuCoin because it;s a great place for beginners to trade more than 700 altcoins. KuCoin is a social trading platform with 20+ million investors worldwide in 200+ countries.
KuCoin’s beginner zone offers up rewards up to $500 for new users. The rest of the platform has plenty of features for the crypto enthusiast: a staking service to earn money on your stored crypto, an NFT marketplace, and margin trading features to buy leveraged tokens.
The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.
Compare similar apps to OKX
We have assigned each OKX alternative a rating to give you an idea of the overall service each crypto exchange provides. The score, alongside a snapshot of some important features, allow us to quickly summarise OKX’s top competitors.
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How the best OKX alternative was found
We found alternative cryptocurrency exchanges to OKX by reviewing what most closely matched OKX in terms of the business model, licensing & operations, cost of trading, target audience, and crypto markets available.
We ranked each alternative on these factors while taking into account all available user-reviews across services like Trustpilot, Reviews.io, and Sitejabber, to find the services that offered similar apps to OKX.
Here are some more of the features we used to identify the best OKX alternatives.
- Best low fee OKX alternatives. The main cost of using a crypto exchange comes from trading fees or commissions but there may be other fees as well. We considered the overall cost of using a different exchange, including inactivity fees, spreads, and crypto conversion fees.
- Best OKX alternatives for beginners. Beginner-friendly OKX alternatives provide an intuitive app and trading experience that helps you make your first steps in crypto trading. The most important feature it must offer is a free demo account, while features like copy or social trading can be useful as well.
- Best OKX competitors with similar products. We picked out crypto exchanges where the markets and number of digital assets available most closely resembled OKX. Good OKX alternatives offer a large, varied range of crypto products.
- Most secure OKX alternative. All the OKX competitors we recommend are regulated by top tier financial regulators to protect you and your money. We also look for similar apps to OKX that are transparent about their finances and how they store customer funds, whether that’s in hot or cold storage.
- Best OKX competitors with highest user reviews & customer ratings. Real life experience of using a crypto exchange is important. We identified the most popular crypto trading platform by comparing those with the best average ratings and most positive user reviews.
Best low fee alternatives to OKX
You don’t want to switch crypto exchange only to pay more for the service. Here’s how OKX alternatives compare in terms of how they make their money:
Best OKX alternative for beginners
OKX is targeted towards beginners, so any competitor should provide a helpful experience to new users as well. Here is a comparison of beginner-friendly crypto trading features available from OKX’s competitors:
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OKX competitors with similar products
A OKX alternative should allow you to invest into a similar range of digital assets and crypto markets. That way, you can invest in the same crypto coins even if you switch exchanges. Here’s how the competitors compare to OKX:
Most secure OKX alternative
Regulation is important because it offers you financial protection in the event that something happens to the exchange, like a bankruptcy. Here are how the top alternatives fare against OKX in terms of regulatory protection.
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Best OKX competitors with highest user reviews & customer ratings
We gathered data from independent review platforms to show what the experience of using an OKX alternative was like for other people.
This information can be a useful tool to help you decide which cryptocurrency exchange to use, but remember that there are many reasons why someone might have a good or bad experience with a service – and not all of them are the crypto exchange’s fault.
Some users have been unable to work out exactly what withdrawal fees they have to pay, then been hit by a higher cost than expected.
OKX has also been accused of reporting inflated trading volumes in the past, while the founder, Mingxing ‘Star’ XU was questioned by police in 2020, leading to a suspension of withdrawals for a short period.
eToro is a more comprehensive trading platform, with a much wider range of financial products available. It boasts more beginner-friendly features, like the ability to copy other traders and follow the pros.
OKX is specifically a crypto exchange, so you have more freedom to buy, sell, and earn on crypto products, while the trading fees are generally cheaper as well.
Binance has much higher trading volume than OKX, so there is more liquidity and you’re more likely to find someone to take the other side of your trades.
OKX, on the other hand, has a lower minimum deposit so it’s more accessible if you want to trade crypto in small amounts.
Coinbase is better for US users, as its licensed to operate in most US states and is much more transparent thanks to its position as a publicly-traded company.
OKX is largely viewed as a trustworthy exchange, but it did run into some issues in 2020 when users couldn’t withdraw their money.
No, OKX is a legitimate trading platform. OKX’s trading fees are competitive and certainly not a ripoff compared to other crypto exchanges. However, its withdrawal fees have been criticised, as the exchange doesn’t tell you how much you have to pay in advance.
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