OKX review: score, licensing and risks

80/100SCORE · BMixed record Grade B, very good

OKX is a large, technically strong exchange that has spent the last two years converting a bad compliance record into a licensed one. It pleaded guilty in the US in 2025 and paid 504 million dollars, and Malta fined its EU unit in 2026. It also now holds a MiCA CASP licence, operates a compliant US platform, and publishes monthly proof of reserves. If you weigh present licensing over past conduct it is a reasonable venue. If you weigh past conduct heavily, it is not.

The facts

FOUNDED: 2017
HEADQUARTERS: Seychelles, operations across Asia and Europe
CUSTODY: Custodial, with a well regarded self custody wallet as a separate product.
MiCA / EEA: Authorised. MiCA CASP licence held in Malta, passported across the EEA. Actively taking on users leaving venues that failed to license in time.
US ACCESS: Yes, through a licensed US platform launched after its 2025 settlement.
PROOF OF RESERVES: Yes. Monthly Merkle tree proof of reserves.
FEES: Around 0.10 percent maker and 0.15 percent taker at entry tier.
ASSETS: 350 plus

How the score breaks down

regulation15/25

security19/25

costs15/15

assets14/15

platform10/10

support7/10

Each dimension is explained on the methodology page.

Where it is strong and where it is not

✓ Strengths

Properly MiCA licensed and expanding in Europe while others retreat
Strong technology and one of the better exchange wallets
Monthly proof of reserves
Now has a licensed US entity

✗ Weaknesses

A guilty plea and a 504 million dollar US settlement in 2025
A separate Maltese AML fine in 2026
Compliance history is recent enough to still matter

Incident history

2025

Pleaded guilty in the United States over more than 5 billion dollars in suspicious transactions and paid a 504 million dollar settlement.

2026

Malta fined its European unit 1.1 million euro over anti money laundering shortcomings.

Our read

The regulatory record is poor but the direction of travel is good: it settled, licensed properly in Malta, opened a compliant US arm, and is now one of the few large venues that can legally serve EEA residents. Score reflects a decent product and improving posture against a genuinely bad recent history.

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RISK WARNING Crypto assets are highly volatile and largely unregulated. You can lose everything you put in. Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.