OKX Referral Code: DEFAULTREF
Fee Discounts + Signup Rewards

What OKX offers

OKX is one of the three largest cryptocurrency exchanges in the world by derivatives trading volume, serving tens of millions of users across more than 100 countries. Founded in 2017 as OKEx, the platform rebranded to OKX in 2022 to reflect its evolution beyond a pure exchange into a comprehensive Web3 platform encompassing trading, DeFi, NFTs, and on-chain infrastructure.

Unlike many exchanges that provide only a trading venue, OKX has built an interconnected product suite where each component reinforces the others. A single OKX account gives you access to centralized spot and derivatives markets, a non-custodial multi-chain wallet, a DEX aggregator routing orders across hundreds of decentralized sources, an NFT marketplace, and a suite of earning products — all from one interface.

Unified Trading Account

Capital efficiency through consolidated margin: The OKX Unified Trading Account (UTA) is the platform's signature feature for active traders. Rather than segregating spot, margin, futures, and options into separate sub-accounts with isolated margin pools, the UTA merges everything into a single account where all positions share a combined margin base. Unrealized gains in a long BTC futures position can immediately offset margin requirements for a short ETH options position, reducing overall collateral requirements without any manual fund transfers.

OKX DEX aggregator

Best on-chain prices across 400+ DEXes: The OKX DEX aggregator, accessible directly from the OKX Web3 wallet, sources liquidity from over 400 decentralized exchanges spanning more than 20 blockchains. When you execute a swap, the aggregator splits your order across multiple liquidity pools to minimize slippage and find the optimal route. Supported chains include Ethereum, BNB Chain, Solana, Arbitrum, Optimism, Base, Polygon, Avalanche, and many more.

OKX Web3 wallet

Self-custody across 80+ networks: The OKX Web3 wallet is a non-custodial browser extension and mobile wallet that gives you full control of your private keys while connecting to the broader DeFi ecosystem. It supports over 80 blockchains, provides in-wallet access to the DEX aggregator, enables NFT viewing and trading across multiple marketplaces, and connects to any dApp through WalletConnect. Unlike keeping assets on the centralized exchange, funds in the Web3 wallet are held entirely by you.

NFT marketplace

Multi-chain NFT aggregation: OKX operates a cross-chain NFT marketplace that aggregates listings from OpenSea, Blur, LooksRare, and other major platforms. You can browse, buy, and list NFTs across Ethereum, Solana, BNB Chain, and other supported networks from a single interface. The marketplace supports batch purchases and offers zero-fee listing for OKX users, making it competitive with standalone NFT platforms.

OKX referral code DEFAULTREF

Reduce your costs from the first trade: Entering referral code DEFAULTREF at registration reduces your trading fees immediately. For traders who plan to use OKX's full product suite — spot, futures, options, and on-chain DeFi — the cumulative fee savings from using DEFAULTREF compound quickly across all activity types.

How to apply the referral code

1. Open OKX through the referral link Navigate to okx.com/join/DEFAULTREF. The referral code DEFAULTREF is embedded in the URL and will be pre-populated in the referral code field on the registration page. Do not close or navigate away from this page before completing signup — otherwise the code may not attach to your account correctly.
2. Create your account with email or phone Enter your email address or mobile phone number and choose a strong password. OKX will send a verification code to your contact method. Enter the code to confirm your account. At this point, referral code DEFAULTREF is permanently linked to your new OKX account and the fee discount will be applied going forward.
3. Complete identity verification OKX supports multiple KYC tiers. Basic account access (Level 0) requires no documentation and allows limited trading. Level 1 KYC (government ID) unlocks higher withdrawal limits and access to fiat on-ramp services. Level 2 KYC (facial recognition + address verification) provides the highest limits and access to advanced features. Most traders complete at least Level 1 to access the full range of deposit and withdrawal options.
4. Fund your account and start trading with discounted fees Deposit cryptocurrency directly to your OKX funding address, use the P2P marketplace to purchase crypto with local currency, or add funds via bank transfer or card where available in your region. Once funded, transfer to your trading account and open your first position on any of OKX's 350+ markets. Your fee discount from code DEFAULTREF is active on every trade from this point forward.

OKX fee structure

OKX uses a tiered fee schedule based on two variables: your 30-day trailing trading volume and the amount of OKB (OKX's native token) you hold in your account. Higher volume and more OKB held both independently reduce your fees, and the effects stack. Using referral code DEFAULTREF adds a further reduction on top of your tier rate from day one.

OKB holdings discount

Holding OKB in your OKX account qualifies you for fee reductions that compound with your volume tier. For example, holding 500 OKB reduces spot taker fees by roughly 10% from the base rate, while holding 2,000+ OKB unlocks a significantly larger reduction. Combined with the referral code DEFAULTREF discount and a higher volume tier, professional traders can bring effective spot taker fees well below the 0.10% headline rate.

Futures and perpetuals fees

OKX perpetual swap base fees — 0.02% maker and 0.05% taker — are already among the lowest in the industry for a top-tier centralized exchange. The maker fee of 0.02% means providing limit order liquidity on OKX is cost-efficient even for strategies that rely on frequent order placement. At VIP tiers, maker fees drop to zero, and OKX's market maker program offers additional rebates for qualifying institutional liquidity providers.

OKX Unified Trading Account explained

The Unified Trading Account is the architectural centerpiece of OKX's offering for serious traders. It fundamentally changes how margin is managed across a portfolio of positions, moving from isolated sub-accounts to a single, unified margin pool. This design has important practical implications for anyone running multiple simultaneous positions across different asset classes.

Cross-margin mode

Shared margin across all positions: In cross-margin mode, your entire account balance acts as collateral for all open positions simultaneously. If one position incurs an unrealized loss and approaches liquidation, profits from another position in the same account automatically provide additional margin support. This is particularly valuable during volatile market conditions when isolated margin accounts might liquidate positions that would otherwise recover.

Portfolio margin mode

Risk-based margin for sophisticated strategies: Portfolio margin mode uses a risk model that assesses your entire portfolio's net exposure rather than applying flat margin rates to each position independently. For traders who run hedged strategies — for example, long spot BTC against short BTC futures — portfolio margin recognizes that these positions partially offset each other and calculates a lower overall margin requirement than cross-margin or isolated modes would. This is OKX's most capital-efficient account mode and is designed for professional and institutional traders.

Multi-currency collateral

Use multiple assets as margin: The UTA supports multiple currencies as collateral, not just USDT or USDC. BTC, ETH, and other major assets can be held in your trading account and applied as margin for derivative positions. OKX applies a haircut to non-stablecoin collateral to account for price volatility, but this feature lets you maintain long spot exposure while simultaneously trading derivatives — without needing to convert everything to stablecoins first.

Options trading within the UTA

BTC and ETH options in the same account: OKX lists European-style options on BTC and ETH alongside its perpetual and quarterly futures products. All of these instruments sit within the same Unified Trading Account, allowing options traders to hedge with spot or futures positions without moving funds between sub-accounts. The UTA's margin calculations account for options delta and vega exposure when determining overall portfolio risk.

OKX vs Binance vs Bybit

OKX, Binance, and Bybit consistently rank among the top five centralized exchanges by derivatives volume. Each platform has distinct strengths. Understanding these differences helps you determine which best fits your trading style before using a referral code to sign up.

OKX's primary competitive advantage over Binance is its more sophisticated Unified Trading Account with full portfolio margin support and its broader Web3 infrastructure. Binance has the deepest spot market liquidity and the largest user base globally. Bybit's interface is particularly well-regarded among perpetuals traders. All three offer referral codes — for OKX, use DEFAULTREF at okx.com/join/DEFAULTREF.

The OKX ecosystem

OKX has evolved from a pure derivatives exchange into a platform that spans the full spectrum of cryptocurrency activity — from centralized spot trading to fully decentralized on-chain DeFi. Each component of the OKX ecosystem is integrated into a unified experience accessible from a single account, making it one of the most comprehensive platforms available to individual crypto traders and investors.

OKX Exchange

The core trading venue: The OKX centralized exchange supports spot trading across 350+ pairs, perpetual swaps with up to 125x leverage on BTC, quarterly and bi-quarterly futures, and European-style options on BTC and ETH. Market depth on major pairs rivals any venue globally, and the matching engine handles over 100,000 orders per second. Institutional users can access the exchange via FIX API and REST API with co-location services available for latency-sensitive strategies.

OKX DEX and Web3 wallet

On-chain execution at CEX convenience: The OKX Web3 ecosystem — wallet plus DEX aggregator — is one of the most developed on-chain product suites attached to a centralized exchange. The wallet supports 80+ blockchains, the DEX aggregator integrates 400+ exchanges, and the combined interface provides a seamless path between off-chain capital and on-chain DeFi yield strategies. Users can hold centralized exchange assets and DeFi positions within the same OKX interface without switching between apps.

OKX Earn

Yield products for idle assets: OKX Earn offers a range of yield-generating products including simple earn (flexible savings), DeFi staking, structured products, and on-chain staking for proof-of-stake assets. ETH staking through OKX provides liquid staking tokens (LSTs) that can be used as collateral in the UTA or deployed in DeFi protocols. Yield rates vary by asset and lock-up period, with flexible products available for users who want to maintain liquidity.

OKX Jumpstart

Early access to new token launches: OKX Jumpstart is the platform's launchpad for new cryptocurrency projects. It gives existing OKX users the opportunity to participate in token sales and staking events for newly listed projects before they reach the open market. Participation typically requires holding a minimum amount of OKB and completing KYC. Jumpstart has historically been a source of early token access for OKX's most active users.

X Layer (formerly OKC)

OKX's own EVM-compatible Layer 2: X Layer is OKX's Ethereum-compatible Layer 2 blockchain, built using Polygon CDK and powered by the OKB token for gas fees. It provides fast, low-cost smart contract execution for DeFi applications and NFT protocols, with direct connectivity to the OKX exchange ecosystem. X Layer represents OKX's infrastructure play in the Layer 2 competition, positioning the exchange at the center of its own blockchain ecosystem alongside Binance's BNB Chain and Coinbase's Base.

OKB token

OKB is the native utility token of the OKX platform. Unlike many exchange tokens that function primarily as speculative instruments, OKB has a clear and active utility within the OKX ecosystem — most directly, as a mechanism for reducing trading fees. OKB was originally issued on Ethereum as an ERC-20 token and later migrated to serve a broader role across OKX's growing product suite.

Fee discount mechanism

Hold OKB, pay less in fees: The OKX fee discount system is tiered by OKB balance. Holding as little as 100 OKB qualifies you for a nominal discount, while holding progressively more OKB — at thresholds of 500, 1,000, 2,000, and above — unlocks increasingly larger fee reductions on both spot and futures trading. These discounts stack multiplicatively with your volume tier and the referral discount from code DEFAULTREF, meaning a combination of sufficient OKB holdings, moderate trading volume, and the referral code produces the lowest possible fee rate.

OKB on X Layer

Gas token for OKX's Layer 2: On the X Layer network, OKB serves as the gas token for transaction fees, similar to how ETH functions on Ethereum or BNB on BNB Chain. As X Layer's DeFi ecosystem grows, demand for OKB as a gas asset creates additional utility beyond the exchange fee discount use case. DeFi protocols deployed on X Layer increasingly accept OKB as collateral and liquidity mining reward.

OKB governance

Participation in OKX ecosystem decisions: OKB holders have input into certain governance decisions within the OKX ecosystem, including votes on Jumpstart listings and X Layer protocol parameters. While OKX as a centralized exchange does not operate a fully decentralized governance model in the way that on-chain protocols do, OKB's governance utility gives token holders a degree of influence over ecosystem direction beyond the pure fee discount function.

OKB buyback and burn

Deflationary supply mechanism: OKX conducts periodic OKB buyback and burn events using a portion of exchange revenue. This reduces the total circulating supply of OKB over time, creating deflationary pressure on the token supply. The burn schedule and amounts are published by OKX and provide transparency into the economic relationship between exchange revenue and OKB supply reduction. Historically, OKB buy-and-burn events have corresponded with periods of increased exchange activity.

About OKX

OKX was founded in 2017 as OKEx, a derivatives-focused cryptocurrency exchange that quickly established itself as one of the largest venues for Bitcoin and Ethereum futures trading globally. The platform was created by Star Xu and launched with backing from the OK Group, a Chinese technology holding company with existing investments in the cryptocurrency space through OKCoin.

From OKEx to OKX: the 2022 rebrand

A new identity for a broader platform: In January 2022, OKEx officially rebranded to OKX. The name change was more than cosmetic — it signaled the company's intention to position itself not just as a crypto exchange but as a full-spectrum Web3 platform encompassing DeFi, NFTs, on-chain infrastructure, and the emerging metaverse. The rebrand coincided with accelerated development of the Web3 wallet, DEX aggregator, and X Layer blockchain, reflecting OKX's strategic bet on bridging centralized and decentralized crypto activity.

Regulatory evolution and global operations

Expanding regulated operations worldwide: Following the 2021 suspension of services for mainland Chinese users in response to regulatory pressure, OKX restructured its operations and regulatory strategy. The company obtained licenses in the Bahamas, Dubai (UAE), and several other jurisdictions, establishing regulated entities to serve users in those regions. OKX has since expanded its compliance infrastructure, launched KYC programs across all major markets, and pursued additional regulatory approvals in key financial centers including Europe and Southeast Asia.

Proof of Reserves

Publicly verifiable 1:1 asset backing: Following the collapse of FTX in late 2022, OKX implemented a Proof of Reserves (PoR) system that allows any user to independently verify that OKX holds at least 1:1 backing of all user-deposited assets. The PoR uses Merkle tree proofs, which allow individual users to verify their specific account balance is included in the reserve attestation without revealing the balances of other users. OKX publishes monthly PoR reports covering BTC, ETH, USDT, USDC, and other major assets.

Market position

Consistently top three by derivatives volume: OKX has maintained a top-three position among all global cryptocurrency exchanges by derivatives trading volume since at least 2020. Its perpetuals and futures products for BTC and ETH are among the most liquid in the world, with consistently tight bid-ask spreads even during high-volatility market conditions. The platform's combination of deep liquidity, sophisticated margin tools, and the fee reduction available through referral code DEFAULTREF makes it a compelling choice for traders of all sizes.

Frequently asked questions

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