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BingX vs OKX: Comparing Fees, and User Experience

Written by Michael Hayes

Written by:

Michael Hayes

Michael Hayes, a seasoned finance professional, enhanced his expertise by attending executive education programs in Finance at the prestigious Wharton School of the University of Pennsylvania. With a career spanning over 20 years, Michael has gained extensive experience in financial analysis, investment management, and strategic financial planning. His deep understanding of financial markets, coupled with his passion for continuous learning, has made him a trusted advisor in the field

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This article has been reviewed by crypto market experts at SCM to ensure all the content, sources, and claims adhere to the highest standards of accuracy and reliability.

Last Updated on January 23, 2025

  • BingX and OKX are significant players in this arena, each offering distinct features, fee structures, and user experiences.

    In this comprehensive comparison, we will delve into the intricacies of BingX and OKX, evaluating their strengths and weaknesses across critical parameters such as features, fees, and overall user experience.

    Whether you are a seasoned trader or a newcomer, this analysis aims to provide valuable insights to help you choose the platform that best meets your trading needs in 2025.

    Our 2025's Recommendation

    • Upto 150x Leverage for BTC

    •  Supports over 300+ crypto trading pairs

    • Fees starting at 0.075% for futures

    • Strong security features

    BingX vs OKX: Comparative Table

    Feature BingX OKX
    Founded 2018 by an anonymous group of crypto enthusiasts 2017 by Star Xu
    Supported Coins 250+ 350+
    Leverage Up to 150x Up to 125x
    Trading Volume High Very High
    Deposit Methods Bank Transfer, Credit/Debit Card, Crypto
    Bank Transfer, Credit/Debit Card, Crypto
    Withdrawal Fees Varies by coin Varies by coin
    Trading Fees 0.10% maker, 0.10% taker
    0.08% maker, 0.10% taker
    Security Features 2FA, Cold Storage
    2FA, Cold Storage, Multisignature
    Order Types Market, Limit, Stop-Limit, Trailing Stop
    Market, Limit, Stop-Limit, Trailing Stop, Conditional Orders
    User Interface User-friendly, Mobile App
    User-friendly, Mobile App
    Customer Support 24/7 Live Chat, Email Support
    24/7 Live Chat, Email Support
    Sign up Bonus 🔥 Get up to $5000 Sign up Bonus –

     

    BingX vs OKX: Products and Services

    When comparing BingX and OKX, examining each platform’s products and services is essential. Both exchanges cater to different trading needs and provide various features and tools.

    Trading Products

    Feature BingX OKX
    Spot Trading Yes Yes
    Futures Trading Yes Yes
    Options Trading No Yes
    Leveraged Tokens No Yes

    Services and Tools

    Feature BingX OKX
    Staking Yes Yes
    NFT Marketplace No Yes
    Crypto Lending No Yes
    Savings Products Yes Yes

    BingX offers straightforward spot and futures trading, which makes it suitable for standard trading activities. It also provides staking and savings products, making it helpful in earning passive income.

    OKX stands out with its variety, including options trading and leveraged tokens. The NFT marketplace and crypto lending demonstrate innovation and appeal to users interested in a broader range of financial products.

     

    BingX vs OKX: Contract Types

    BingX and OKX offer a diverse range of contract types for cryptocurrency traders. Each platform has its unique features, benefits, and drawbacks.

    • Inverse Perpetual Contracts

    OKX provides inverse perpetual contracts.

    These are settled in the underlying cryptocurrency instead of a stablecoin like USDT. This type allows you to take positions using the base crypto as collateral, which can be advantageous when the price of the cryptocurrency you are trading is rising.

    In contrast, BingX does not offer inverse perpetual contracts.

    • Linear Perpetual Contracts

    Both BingX and OKX support linear perpetual contracts. These are typically settled in stablecoins, such as USDT, making it easier to calculate profit and loss since the collateral is not as volatile as cryptocurrencies.

    • Inverse Futures Contracts

    Inverse futures contracts are available on OKX. Similar to inverse perpetual, these use the underlying cryptocurrency for settlement and margin. This type is suited for traders looking to leverage their crypto holdings for a future date.

    BingX does not feature these contracts.

    • COIN-M Futures

    OKX offers COIN-M futures, where the margin and settlement are in the underlying crypto (like BTC or ETH). This contract type benefits those who prefer holding and trading the same cryptocurrency.

    BingX does not provide COIN-M futures.

    • USD-M Futures

    BingX features USD-M futures, which are settled in USDT. This type is user-friendly for those who want to avoid the fluctuations tied to the underlying cryptocurrency.

    OKX also offers similar USDT-settled futures, catering to traders seeking stablecoin-based settlements.

    • Options

    OKX offers a sophisticated set of options contracts, including calls and puts, allowing for strategic trading based on volatility and various market conditions.

    BingX does not currently offer crypto options trading.

    These offerings present various opportunities depending on your trading strategy and risk tolerance.

     

    BingX vs OKX: Supported Cryptocurrencies

    Both exchanges offer a diverse range when examining the supported cryptocurrencies on BingX and OKX.

    BingX

    bingx supported coins

    BingX allows trading over 750 cryptocurrencies, ensuring users have a broad selection.

    • Spot Trading: Over 750 cryptocurrencies available.
    • Futures Trading: Popular pairs include BTC/USDT, ETH/USDT, and XRP/USDT.

    OKX

    okx supported coins

    OKX also provides a wide variety of cryptocurrencies to trade.

    • Spot Trading: Over 400 cryptocurrencies supported.
    • Futures Trading: Key pairs are BTC/USDT, ETH/USDT, and DOGE/USDT.

    Comparison Table

      BingX OKX
    Spot Trading Cryptos 750+ 400+
    Popular Futures Pairs BTC/USDT, ETH/USDT, XRP/USDT BTC/USDT, ETH/USDT, DOGE/USDT

    You can find a variety of options for both spot and futures trading on these platforms.

     

    BingX vs OKX: Leverage and Margin Trading

    When comparing BingX and OKX, leverage and margin trading are vital features. Both exchanges allow you to amplify your positions, thereby increasing potential returns.

    BingX offers a variety of leverage options. For instance, leverage ratios such as 5:1 or 10:1 enable you to control more prominent positions with a smaller investment. This means you can turn $100 into a buying power of $500 with a 5:1 leverage.

    OKX, similarly, provides leverage ratios that can significantly boost your trading capability. A standard leverage ratio here is also 5:1, allowing you to control $5,000 with a $1,000 investment.

    Leverage Comparison

    Exchange Max Leverage Borrowing Power
    BingX 10:1 $1 can control $10
    OKX 5:1 $1 can control $5

    Margin requirements on both platforms ensure that you have adequate funds to cover potential losses.

    If the value of your investment drops below a certain threshold, a margin call is issued. This means you need to add more funds or risk liquidation of your position.

    Liquidation risks are present in both exchanges.

    On BingX, using high leverage increases the risk of liquidation if the market moves against your position. OKX also has similar risks, where high leverage can lead to swift liquidation in volatile markets.

    Margin Details

    • BingX: Requires adequate margin to cover leveraged trades, risk of quick liquidation with high leverage.
    • OKX: Similar margin requirements with high leverage increasing liquidation risks.

    Funding rates are significant as they affect your trading costs. BingX and OKX’s funding rates vary based on market conditions and can influence your overall trading expenses. Always check the current rates on each platform, as they fluctuate regularly.

    You can optimize your trading strategy on BingX or OKX by carefully choosing and managing leverage and margin.

     

    BingX vs OKX: Trading Volume

    When evaluating cryptocurrency exchanges, trading volume is a critical metric. It influences trading efficiency, execution, and slippage.

    OKX generally ranks higher in trading volume than BingX. This is partly due to its earlier establishment and more extensive user base.

    With higher trading volumes, you can expect better liquidity. This ensures quicker order execution and minimal slippage.

    According to various sources, OKX is often featured in the top tiers of exchange volume rankings. High volume means more buyers and sellers are available.

    This reduces the chances of significant price changes when orders are executed.

    Metric OKX BingX
    Founded 2014 2018
    Trading Volume Higher Lower
    Liquidity High Moderate

    On the other hand, BingX has improved its trading volume since its inception in 2018.

    While it does not match OKX, it still offers a competitive trading environment. Lower volume could mean potential slippage for large orders, but competitive fees and an improving user base counter this.

    If you prioritize liquidity and trading efficiency, you might favor an exchange with higher trading volumes like OKX. BingX, while not as high in volume, can still offer viable trading conditions depending on your requirements.

     

    BingX vs OKX: Futures Trading Fees and Rewards

    Analyzing the fee structures and reward systems of BingX and OKX can provide insights into the profitability and incentives for traders. This includes examining trading fees, potential discounts, and bonuses.

    Fee Structure and Reward System

    bingx fees

    BingX uses a tiered fee system, meaning fees decrease as VIP levels increase.

    For typical users, BingX charges a 0.05% taker fee and a 0.02% maker fee for crypto futures trading. As you move up to VIP 5, fees decrease to a 0.03% taker fee and a 0.006% maker fee.

    okx fees

    OKX also uses a tiered fee system but with different rates. For example, the maker fee for USDT settlements is typically 0.02%, with a taker fee of 0.075%.

    These rates can be further decreased based on your trading volume and the amount of OKB tokens you hold.

    Both platforms offer bonuses and discounts.

    BingX offers lower fees for higher trading volumes and loyalty rewards. OKX provides fee reductions for holding its native OKB token and conducting larger trades.

     

    Trade Fee and Deposit/Withdrawal Fee Comparison

    When comparing trading fees, BingX generally offers lower taker fees, especially for higher-tier users, which can be attractive if you frequently execute market orders.

    OKX tends to have slightly higher fees but offers competitive rates for those holding OKB tokens and trading large volumes.

    Both BingX and OKX maintain competitive structures for deposit and withdrawal fees. BingX charges minimal to no deposit fees and a small withdrawal fee depending on the cryptocurrency.

    OKX has varying withdrawal fees depending on the asset but typically maintains lower withdrawal fees for common cryptos such as Bitcoin and Ethereum.

    Deposit fees are usually non-existent, which is standard across most crypto exchanges.

    Using specific examples, if you were to trade $10,000 worth of Bitcoin futures on BingX at a VIP 1 level, you would pay $5 in taker fees.

    On OKX, for the same trade volume and token holdings, you might pay about $7.50, depending on the specific discounts applied.

     

    BingX vs OKX: Deposits & Withdrawal Options

    When evaluating the deposit and withdrawal options for BingX and OKX, it’s essential to consider how these aspects impact your overall trading experience.

    Supported Currencies:

    • BingX: Supports a variety of cryptocurrencies like BTC, ETH, and USDT for both deposits and withdrawals.
    • OKX: Offers a wide array of cryptocurrencies, including BTC, ETH, USDT, and many more.

    Payment Methods:

    • BingX: Primarily focuses on cryptocurrency payments but also supports fiat deposits via bank transfers and credit cards.
    • OKX: Supports multiple payment methods, including cryptocurrencies, bank transfers, credit cards, and third-party services like PayPal.

    Processing Times:

    • BingX: Crypto deposits are usually processed within minutes, while fiat deposits can take 1-3 business days. Withdrawals generally take less than 24 hours.
    • OKX: Crypto deposits also process quickly, often within minutes. Fiat deposits may take 1-2 business days. Withdrawals are typically processed within 24 hours.

    Minimum and Maximum Amounts:

    • BingX: Minimum deposit thresholds are low, making it accessible for new traders. The maximum amounts vary depending on the payment method used.
    • OKX: Also maintains low minimum deposit requirements. Maximum deposit and withdrawal limits can vary based on your account verification level.

    Feature BingX OKX
    Payment Methods Cryptocurrencies, Bank Transfer, Credit Card Cryptocurrencies, Bank Transfer, Credit Card, PayPal
    Processing Times (Deposits) Crypto: Minutes, Fiat: 1-3 days Crypto: Minutes, Fiat: 1-2 days
    Processing Times (Withdrawals) Within 24 hours Within 24 hours
    Minimum Amounts Low Low
    Maximum Amounts Varies Varies

    Convenience, speed, and cost are crucial factors in choosing between BingX and OKX. Both platforms offer swift crypto transactions, with slightly varied options and processing times for fiat transactions.

     

    BingX vs OKX: Native Token Usage

    BingX and OKX have native tokens that serve various purposes within their ecosystems.

    BingX Native Token:

    • Token Name: Often referred to as the BingX token (BXT)
    • Usage: Provides trading fee discounts, access to exclusive features, and participation in community governance
    • Utility: BXT tokens can be staked, giving users additional incentives and rewards for contributing to the network’s security

    OKX Native Token:

    • Token Name: OKB
    • Usage: Reduces trading fees, provides access to special events, token sales, and various promotions
    • Utility: Used in decentralized finance (DeFi) products, including lending, borrowing, and participating in Initial Exchange Offerings (IEOs)

    Fee Discounts:

    • BingX: By holding BXT tokens, users can receive lower trading fees, making transactions more cost-effective.
    • OKX: OKB holders benefit from reduced transaction fees, one of the primary incentives for holding the token.

    In-Exchange Utility:

    • BingX: BXT can unlock higher-tier account privileges and features within the platform.
    • OKX: OKB is also utilized to access exclusive investment opportunities and vote on critical decisions affecting the exchange’s future.

    Both exchanges significantly benefit their native token holders, enhancing user experience and engagement within their respective platforms.

    The strategic use of native tokens by BingX and OKX underlines their commitment to creating a robust trading ecosystem.

     

    BingX vs OKX: KYC Requirements & Limits

    Regarding KYC (Know Your Customer) requirements, BingX and OKX take different approaches, affecting your experience regarding privacy, security, and accessibility.

    BingX stands out as a non-KYC crypto exchange. You can deposit, trade, and withdraw without any identity verification. This provides a higher level of privacy and quicker access to trading. However, there are specific limits for unverified users:

    • Deposit Limit: Unlimited
    • Withdrawal Limit: Lower compared to verified accounts
    • Trading Limit: Lower compared to verified accounts

    OKX requires KYC for enhanced security and higher limits. While you can perform some actions without verification, undergoing KYC unlocks higher limits and additional features. Here are the verification levels and procedures:

    1. Basic Verification:
      • Documents: Email or phone number verification
      • Deposit Limit: Unlimited
      • Withdrawal Limit: Limited
    2. Advanced Verification:
      • Documents: Government-issued ID, selfie
      • Deposit Limit: Unlimited
      • Withdrawal Limit: Higher limits compared to unverified accounts
      • Trading Limit: No restrictions

    The KYC procedures on OKX may take a short time but significantly increase security and reduce the risk of fraud. Both exchanges balance privacy and security, depending on your priorities.

    Using these details, you can decide which platform aligns with your personal and trading security preferences.

     

    BingX vs OKX: User Experience

    When assessing the user experience of BingX and OKX, it’s vital to consider multiple aspects such as platform interfaces, mobile app experiences, and feature accessibility.

    Platform Interfaces

    bingx ui

    BingX offers a clean and modern web interface.

    Navigation is intuitive, making it easy to find critical features like spot trading, futures trading, and copy trading. To learn more,c heck this BingX tutorial.

    OKX also provides a user-friendly interface but tends to have more options and configurations, which might overwhelm beginners.

    okx ui

    Mobile Apps

    Both platforms have robust mobile apps available for iOS and Android. BingX’s app is highly rated for its responsive design and smooth performance.

    You can quickly execute trades and check market updates.

    OKX’s app offers a comprehensive suite of tools, giving you access to various trading options. It might come across as feature-rich, potentially adding complexity for those new to trading.

    Ease of Use

    BingX is known for its straightforward approach. Beginners find it easier to start with BingX due to its simplified navigation and clear instructions.

    OKX, being a larger platform, provides more complex functionalities suitable for seasoned traders. You might experience a steeper learning curve with OKX. To know more, check this OKX futures trading tutorial.

    Speed and Functionality

    Both exchanges prioritize speed and stability.

    BingX offers quick load times and efficient trade execution. OKX is equally fast but offers more advanced analytical tools and trading features.

    If you seek depth, OKX might align better with your needs.

    Design

    BingX focuses on a minimalist design aesthetic. Its color scheme and layout are designed to reduce clutter, enhancing your focus on trading.

    OKX, while also visually appealing, packs more information onto the screen, which might require you to spend more time navigating through various sections.

    Table Comparison

    Feature BingX OKX
    Ease of Use Beginner-friendly Better for experienced users
    Mobile App Responsive, user-friendly Feature-rich, more complex
    Design Minimalist, clean Informative, detailed
    Speed Fast, efficient Quick, comprehensive

    Selecting between BingX and OKX largely depends on your trading experience and your need for advanced tools.

     

    BingX vs OKX: Order Types

    Understanding the range of order types available can significantly enhance your trading experience on BingX and OKX. Both platforms offer various order types to help you execute your trading strategies and manage risks effectively.

    Market Order:

    • BingX: Executes immediately at the current market price but without price control.
    • OKX: Provides similar immediate execution, which is ideal for highly liquid markets.

    Limit Order:

    • BingX: Allows you to set a specific price, offering control over the execution price.
    • OKX also lets you set a price, making it useful in less volatile markets.

    Stop Order:

    • BingX: Triggers a market order when a specified price level is reached.
    • OKX: Offers stop-loss and take-profit to help reduce risks and secure profits.

    Conditional Order:

    • BingX: Executes only when specific conditions are met, providing flexibility.
    • OKX: Similar functionality enabling advanced trading strategies.

    Post-Only Order:

    • BingX: Ensures your order is added to the order book without immediate execution, preventing taker fees.
    • OKX: Likewise, ensures your order is placed as a maker, thus avoiding taker fees.

    Reduce-Only Order:

    • BingX: Ensures your positions can only be reduced, preventing accidental increases.
    • OKX: Prevents the execution of orders that could increase your position size, only reducing it.

     

    BingX vs OKX: Security Measures & Reliability

    • Security Measures

    BingX prioritizes security, employing features like 100% margin reserves and bank-grade custody solutions. The platform also provides multiple layers of protection to ensure the safety of user funds.

    OKX, similarly, emphasizes security. It utilizes advanced encryption technology and cold storage for most user assets. Additionally, OKX offers multi-signature wallets and two-factor authentication (2FA) to enhance account security.

    • Reliability

    BingX has established itself since its founding in 2018 and has built a reputation for reliability. The exchange supports many cryptocurrencies and provides a stable trading environment.

    OKX, operating since 2017, has had a more prolonged presence in the market. This extended tenure generally translates to trust and reliability among its users. OKX has also consistently updated its security protocols to maintain a safe trading platform.

    • Incidents & Resolutions

    While both exchanges emphasize security, they have had to deal with issues in the past. Any incidents were addressed swiftly with transparent reporting and enhanced measures to prevent future occurrences.

    You can rely on BingX and OKX to adhere to stringent security practices to protect user data and funds.

     

    BingX vs OKX: Insurance Fund

    When evaluating BingX and OKX, the insurance fund is a critical element to consider.

    BingX: BingX has established an insurance fund to protect traders from potential losses. This fund is a safety net, ensuring users’ funds are secure in extreme market conditions or unforeseen risks.

    OKX: OKX also offers a robust insurance fund. It is designed to manage large-scale liquidations and protect traders from significant losses. This fund aims to give users a higher degree of confidence when trading on the platform.

    Key Differences

    • The inception of Funds: BingX’s insurance fund was initiated shortly after the platform’s launch in 2018. OKX’s insurance fund has been operational since its founding in 2017.
    • Funding and Allocation: Both platforms allocate a portion of their trading fees to maintain and grow their respective insurance funds.
    • Coverage Scope: Each platform provides detailed information on the coverage and management of their insurance funds. BingX and OKX ensure that their insurance funds are transparent and sufficient to cover extreme market volatility.

    Considerations

    • Reliability: Both BingX and OKX use their insurance funds to reinforce the reliability and trustworthiness of their platforms.
    • User Assurance: Having an insurance fund in place is a significant factor for users, as it offers an additional layer of protection.

    Understanding the insurance fund of BingX and OKX helps you make a more informed decision about which platform best meets your security and risk management needs.

     

    BingX vs OKX: Customer Support

    Several factors come into play when comparing customer support between BingX and OKX. Both exchanges offer different levels of service with distinct strengths and weaknesses.

    BingX provides customer support through multiple channels. These include live chat, email, and social media. You may find that their live chat option is responsive, often providing quick resolutions to queries.

    Support Channel BingX OKX
    Live Chat Yes Yes
    Email Yes Yes
    Social Media Yes No
    Phone Support No No

    OKX also supports users via live chat and email. However, users have reported delays in responses and a lack of multilingual support, primarily limited to Chinese.

    For those who prefer social media interactions, BingX offers support on platforms like Twitter and Facebook, making it easier for you to get assistance.

    Response Time is another crucial aspect. BingX generally offers quicker responses on their live chat than OKX. Delays in customer service responses can be frustrating, especially when dealing with urgent trading issues.

    Language Options: BingX caters to a global audience with multiple language options in customer support. OKX, on the other hand, has faced criticism for its predominantly Chinese-speaking support team, which might limit accessibility for non-Chinese speakers.

    Your experience with customer support may vary between BingX and OKX, but if you prioritize quick and multilingual service, BingX might be the better option.

     

    BingX vs OKX: Regulatory Compliance

    When comparing BingX and OKX regarding regulatory compliance, it’s essential to consider their adherence to laws and ethical standards.

    BingX

    BingX was founded in 2018. As a newer player, BingX has proactively complied with various regulations.

    • Licensing: BingX has sought licenses in multiple jurisdictions to ensure it operates within the legal framework.
    • Audits: Regular independent audits are conducted to maintain transparency.
    • Challenges: Despite efforts, BingX has faced scrutiny in some regions, highlighting the complex nature of global compliance.

    OKX

    OKX was founded in 2017 and is based in Belize.

    • Licensing: OKX has obtained several international licenses, including areas with stringent regulatory environments.
    • Certifications: OKX holds various certifications that demonstrate its compliance with industry standards.
    • Controversies: OKX has encountered regulatory challenges, particularly in regions with evolving crypto laws. These issues emphasize the need for constant adaptation.

      BingX OKX
    Founded 2018 2017
    Licensing Multiple jurisdictions Several international licenses
    Audits Regular independent audits Regular audits
    Certifications Various industry certifications
    Challenges Regional scrutiny Regulatory challenges in different regions

    Compliance with regulations is a critical aspect when choosing a cryptocurrency exchange. You can make a more informed decision by understanding the regulatory landscapes for BingX and OKX.

     

    Conclusion: Is BingX Better Than OKX?

    For those who prioritize reliability and longevity, OKX might be the better choice. Established in 2017, OKX has a longer track record in the market.

    This can be appealing to traders who value stability and a well-established reputation.

    If you are looking for lower fees, BingX stands out.

    With withdrawal fees below the industry average, it offers a cost-effective option. For instance, the Bitcoin withdrawal fee at BingX is 0.00035 BTC, which is 15.75% lower than the average.

    Beginners may find BingX more user-friendly. Its interface is designed to be accessible, making it easier for those new to cryptocurrency trading.

    Seasoned traders may prefer OKX for its extensive features. With a comprehensive range of trading types and deposit methods, it caters to more complex trading strategies.

    Both exchanges support a wide variety of cryptocurrencies.

    Your choice might depend on the specific cryptocurrencies you plan to trade.

    Consider your trading style, experience level, and specific needs when choosing between these exchanges.

    Whether you prioritize lower fees, user experience, or a long-standing reputation, both BingX and OKX offer valuable features tailored to different types of traders and investors.

    Our 2025's Recommendation

    • Upto 150x Leverage for BTC

    •  Supports over 300+ crypto trading pairs

    • Fees starting at 0.075% for futures

    • Strong security features

    Compare BingX and Phemex with other major exchanges

    About the Authors

    Michael Hayes, a seasoned finance professional, enhanced his expertise by attending executive education programs in Finance at the prestigious Wharton School of the University of Pennsylvania. With a career spanning over 20 years, Michael has gained extensive experience in financial analysis, investment management, and strategic financial planning. His deep understanding of financial markets, coupled with his passion for continuous learning, has made him a trusted advisor in the field