Updated Rules checked 2026-10-11
If a regular user (VIP 0) places market orders (Taker) on Binance and on OKX, the fees are exactly the same: 0.1% on spot and 0.05% on USDⓈ-M futures. The real differences lie elsewhere. Binance lets you pay fees with BNB for 25% off spot and 10% off USDⓈ-M futures; OKX has no platform-token discount, but its spot limit-order (Maker) fee is 0.08%, lower than Binance’s 0.1%. Referrals also work differently: on Binance a referral can’t be changed once it’s bound, while on OKX you can submit a switch request. Neither exchange is on the anti-money-laundering registration list of Taiwan’s Financial Supervisory Commission (FSC), and neither offers a direct New Taiwan dollar (TWD) deposit channel.
Choose Binance if you trade a lot of futures, are willing to hold BNB, or want access to more coins. Choose OKX if you don’t want to hold a platform token for a discount, usually buy spot with limit orders, want to trade with grid and other strategies, or already have an account and may want to change referrers later.
The information below was checked against both exchanges’ official pages on 2026-10-11 and is provided for reference.
What’s the difference between Binance and OKX?
| Item | Binance | OKX |
|---|---|---|
| Spot Maker / Taker (VIP 0) | 0.1% / 0.1% | 0.08% / 0.1% |
| USDⓈ-M futures Maker / Taker (VIP 0) | 0.02% / 0.05% | 0.02% / 0.05% |
| Platform-token discount | BNB: 25% off spot (0.075%), 10% off USDⓈ-M futures (Taker 0.045%) | None; OKX states that OKB can’t be used to discount fees |
| Referral code rebate | 20% | 20% |
| Adding a referral code after sign-up | Within 30 days of sign-up, with no deposits or trades, you can add one yourself | Not possible |
| Switching referrers | A referral can’t be changed once established; accounts without a referrer can use an affiliate switch request | You can submit a switch request (automatic review, criteria not public, 30-day cooldown), or be reassigned after 180 days of inactivity |
| Identity verification | New users must complete “Verified” verification before they can deposit and trade | Without identity verification you can’t deposit or withdraw crypto, or buy and sell on C2C |
| Withdrawals from unverified accounts | Older unverified accounts are switched to “withdrawal only”: you can withdraw, cancel orders and close positions | No crypto withdrawals; after verification, the 24-hour withdrawal limit depends on your fee tier |
| Taiwan FSC registration | Not on the FSC’s anti-money-laundering registration list (2026-09-29 list) | Not on the FSC’s anti-money-laundering registration list (2026-09-29 list) |
| TWD deposits | No TWD bank deposits; when checked, the P2P TWD market had no listings | TWD C2C trading stopped on 2024-06-24 |
| Copy trading / grid | Futures copy trading; bots include spot grid, futures grid, DCA, rebalancing, TWAP and arbitrage | Copy trading; OKX lists 11 strategies, including spot and futures grid, martingale and signal strategies |
| Proof of reserves | Merkle tree + zk-SNARKs; users can verify it themselves | Published monthly; report no. 47, September 2026: BTC 109%, USDT 105% |
| Listings (spot coins / perpetual futures) | 507 / 568 | 413 / 500 |
Fee sources: Binance spot fee page, Binance futures fee guide, OKX fee page. Identity verification sources: Binance identity verification guide, OKX guide to verifying an individual account (updated 2026-08-25). Listing counts are the spot coins and USDⓈ-M perpetual futures in trading status, counted with each exchange’s official public API at the time of checking (OKX’s figure includes coin-margined perpetuals); they change as pairs are listed and delisted. Sources for the other rows are given in the sections below.
How much do Binance and OKX fees differ?
Say someone trades 200,000 USDT of USDⓈ-M futures and 20,000 USDT of spot each month, all at the official VIP 0 rates:
| Monthly fees (USDT) | Binance | Binance (BNB discount on) | OKX |
|---|---|---|---|
| Futures 200,000, all Taker | 100 | 90 | 100 |
| Spot 20,000, all Taker | 20 | 15 | 20 |
| Total (all Taker) | 120 | 105 | 120 |
| Total (all switched to Maker) | 60 | 51 | 56 |
The fee is the trade value times the rate, for example futures 200,000 × 0.05% = 100 USDT. With limit orders only, Binance comes to 200,000 × 0.02% + 20,000 × 0.1% = 60 USDT and OKX to 200,000 × 0.02% + 20,000 × 0.08% = 56 USDT. With the BNB discount on, Binance’s futures Maker fee drops to 0.018% and spot to 0.075%, for a total of 51 USDT.
If you only place market orders and don’t hold BNB, you pay the same each month on both. If you’re willing to hold BNB, Binance costs 15 USDT less a month, but you carry BNB’s own price swings. If you often place spot limit orders and don’t want to hold a platform token, OKX is cheaper (0.08% vs 0.1%). On both exchanges, futures fees are charged on the position value, not the margin, so the higher the leverage, the more you pay in fees on the same margin; if the price moves against you, the position can also be liquidated and you lose the margin.
The VIP thresholds differ too. Since 2026-07-21, Binance VIP 1 requires holding 5 BNB first, plus meeting one of these: 1 million USD in 30-day spot volume, 5 million USD in futures volume, or 100,000 USD in assets. Once you’re there, the spot Maker fee drops to 0.09% while Taker stays at 0.1% (Binance VIP program update announcement). OKX VIP 1 takes 100,000 USD in assets, or 1 million USD in 30-day spot volume or 5 million USD in futures volume, with no OKB required; spot becomes 0.0675% / 0.08% and futures 0.016% / 0.045%. VIP 1 on either exchange is hard for an ordinary retail trader to reach. Below that volume, limit orders and rebates make more practical sense.
Both exchanges have zero-fee pairs. OKX’s USDC-USDT and PYUSD-USDT spot pairs currently charge 0% Maker and Taker, which makes swapping stablecoins cheap; Binance also runs zero-fee pairs from time to time. Since these trades carry no fee, they earn no rebate either, and OKX also states that these stablecoin pairs don’t count toward 30-day trading volume.
The funding rate on perpetual futures isn’t a fee. Both exchanges state that it’s paid between longs and shorts and the platform doesn’t collect it, and both settle every 8 hours by default, with shorter intervals on some contracts (Binance funding rate guide, OKX perpetual funding fee rules). For full rates, VIP thresholds and withdrawal fees, see Binance fees and OKX fees.
A referral code rebate returns part of the fees you actually paid, and both exchanges calculate it on net fees. The two calculators below both use the official futures Taker rate of 0.05%, and the rebate rates stay in sync with the exchanges.
Calculator: Binance futures (Taker 0.05%)
| Monthly volume | Fees (0.05%) | Auto rebate (20%) | Net fees |
|---|---|---|---|
| 10,000 USDT | 5 USDT | 1 USDT | 4 USDT |
| 100,000 USDT | 50 USDT | 10 USDT | 40 USDT |
| 1,000,000 USDT | 500 USDT | 100 USDT | 400 USDT |
Example at a futures fee rate of 0.05% and the current 20% automatic rebate (rate updated 2026-10-24). Your exchange statement prevails.
Sign up with this site’s Binance referral code and the exchange’s automatic fee rebate is 20%, on both spot (including margin) and USDⓈ-M futures. Binance doesn’t state whether the rebate is calculated on fees before or after the BNB discount.
Calculator: OKX futures (Taker 0.05%)
| Monthly volume | Fees (0.05%) | Auto rebate (20%) | Net fees |
|---|---|---|---|
| 10,000 USDT | 5 USDT | 1 USDT | 4 USDT |
| 100,000 USDT | 50 USDT | 10 USDT | 40 USDT |
| 1,000,000 USDT | 500 USDT | 100 USDT | 400 USDT |
Example at a futures fee rate of 0.05% and the current 20% automatic rebate (rate updated 2026-10-24). Your exchange statement prevails.
Sign up with this site’s OKX referral code and the exchange’s automatic fee rebate is 20%, on both Maker and Taker trades. OKX has no platform-token discount, so the rebate is calculated directly on the net fees you actually pay.
How do Binance and OKX referral code rebate rules differ?
The official cap on the invitee’s rebate is the same on both: Binance states that up to 20% can be shared with the invitee on spot and margin, and futures has also been capped at 20% since 2025-10-25; OKX states that the invitee’s rebate rate ranges from 0% to 20%. With the same rate, the differences are in the rules:
| Rule | Binance | OKX |
|---|---|---|
| Calculation basis | Net fees (after market-maker rebates) | Net fees |
| Markets covered | Spot (including margin) and USDⓈ-M futures | Spot and futures (the affiliate rules list spot, futures and options) |
| Duration | No term stated for spot; futures runs 12 months from opening the futures account (no such limit if the referrer’s commission rate is 30% or more) | No term stated officially for the invitee’s rebate |
| VIP limits | Stops at VIP 3 or above, resumes when you drop back to VIP 2 or below | Monthly cap at VIP 5 and VIP 6; no rebate at VIP 7 or above |
| Payout | Converted to USDC every hour and paid to your spot account within 6 hours | Payout timing for the invitee’s rebate isn’t stated separately |
| Trades with no rebate | Zero-fee pairs | Fee-free coins, fees covered by rebate cards or futures trial bonuses, special rates |
| Adding a referral code later | Within 30 days of sign-up, with no deposits, no trades and no referrer, you can add one on the referral binding page | Can’t be added or changed once the account is created |
| Changing referrers | Not possible if you already have a referrer; accounts with no referrer and trading history can have an affiliate start a switch request (under 5,000 USD in trading volume in the 90 days before submitting, 150,000 USD within 30 days after) | Submit a switch request; the system reviews it automatically, the criteria aren’t public, requests must be 30 days apart, and it’s only available in some regions. Or, after 180 days of inactivity, log in through a new affiliate’s link |
Binance’s rules come from the Binance Referral Pro FAQ, the Binance affiliate program beginner’s guide and the Binance Referral Pro update announcement; OKX’s rules come from the OKX affiliate FAQ, the OKX affiliate rules and the OKX referral program guide.
For futures traders, the thing to watch most closely is the 12-month term on Binance’s futures rebate: a year after you open the futures account, the futures rebate may stop. OKX doesn’t state a term, and its VIP limits don’t start until VIP 5, so high-volume traders have more room to keep their rebate. The other difference is what happens after sign-up. Binance only has a 30-day window, before any deposit or trade, for adding a code, while OKX doesn’t allow adding one at all. Both have switching channels, but the conditions differ a lot; for details, see switching your Binance referral code and switching your OKX referral code.
Neither exchange accepts deleting your account and opening a new one as a way to change referral codes. Binance states that if you close an account and open a new one for referral benefits, or reuse the same identity details, the new account’s commission may be terminated. OKX states that deleting your account and re-registering to use a referral code may be treated as a violation, and that registering multiple accounts or using someone else’s identity details also breaks its rules. To change referrers, use the official channels above.
Do Binance and OKX both require identity verification? What should users in Taiwan know?
On both exchanges you need to complete identity verification to use the platform normally. Binance states that all new users must complete “Verified” verification before using products such as deposits and trading; older accounts that haven’t completed it are switched to “withdrawal only”, which leaves withdrawals, order cancellation, closing positions and redemptions. For the daily withdrawal limit after verification, Binance asks users to check the “Identity Verification” page. OKX states that users who haven’t completed identity verification can’t deposit or withdraw crypto, or buy and sell on C2C; after verification, the 24-hour withdrawal limit depends on your fee tier (OKX identity verification FAQ). OKX also states that each account can be registered with only one identity document. For the documents each exchange requires, the verification steps and review times, see the Binance KYC guide and the OKX KYC guide.
Their registration status in Taiwan is the same. The list in the Securities and Futures Bureau’s section on businesses and persons providing virtual asset services, updated 2026-09-29, shows 11 companies that have completed anti-money-laundering registration, and neither Binance nor OKX is on the FSC’s list. In practice, this means that if a dispute arises with either exchange, Taiwan’s Securities and Futures Investors Protection Center and Financial Ombudsman Institution don’t apply (FSC statement of 2022-11-23), and if your account is frozen or withdrawals are restricted, you can only follow the platform’s terms. The FSC’s plan of 2026-08-04 also says the Travel Rule is expected to extend to transfers between domestic and offshore providers by the end of 2027, after which the process for moving crypto from a domestic platform to an offshore exchange may change.
For TWD deposits and withdrawals, neither exchange offers direct TWD bank deposits. On 2024-06-07 OKX announced that from 2024-06-24, users in Taiwan could no longer buy and sell with TWD on C2C, while C2C in other currencies and crypto deposits and withdrawals were unaffected (OKX announcement on removing C2C trading in Taiwan). Binance’s P2P menu includes TWD, but when I checked, the Binance P2P TWD market had 0 USDT buy and 0 sell offers. The workable route is the same for both: buy USDT with TWD on a registered domestic platform (such as MAX or BitoPro), then transfer it to the exchange; withdrawing works the other way around.
As for the apps, when checked, both were available on the Taiwan App Store: the Binance app (developer Binance Switzerland AG) and the OKX app (developer OKX Inc.). Both exchanges’ websites and help centers have Traditional Chinese versions.
What are Binance and OKX each best at?
Binance’s strength is scale. When checked, it had 507 spot coins and 568 USDⓈ-M perpetual futures in trading, more than OKX on both counts, so people who want to trade small-cap or newly listed coins have more choice. The BNB discount is also a way to save that only Binance offers.
- Copy trading: Binance copy trading lets you follow futures lead traders, and you can also apply to become a lead trader yourself.
- Trading bots: the Binance trading bots page lists spot grid, futures grid, DCA, rebalancing, TWAP and arbitrage.
- Earn and new tokens: Simple Earn, plus the Launchpad token launch platform.
OKX’s strengths are strategy trading and on-chain tools. Its official strategy trading guide lists 11 strategies, more types than Binance’s bots page lists, and its signal strategy can take TradingView signals and place orders automatically. OKX also has a standalone Web3 wallet.
- Strategy trading: spot grid, futures grid, futures martingale, smart arbitrage, spot martingale, DCA, signal strategy, iceberg, TWAP, smart portfolio and arbitrage orders (OKX strategy trading overview, updated 2026-09-01).
- Copy trading: OKX copy trading lets you follow traders, and OKX also recruits lead traders.
- Web3 wallet: a non-custodial multi-chain wallet where you keep your own private keys, and no identity verification is needed to use it; if you lose your seed phrase, your assets can’t be recovered (What is the OKX Web3 wallet).
- Other: options (VIP 0 Maker and Taker both 0.03%), Simple Earn and Jumpstart.
How do Binance and OKX compare on proof of reserves and security record?
Both exchanges publish proof of reserves, and their methods are similar: they take a snapshot of user balances, put it into a Merkle tree, then compare it with the on-chain wallet assets the exchange discloses, and users can check for themselves that their account was included. Binance’s proof of reserves page uses zk-SNARKs; OKX uses zk-STARK.
- OKX: the OKX proof of reserves page states that reports are published monthly. September 2026 was report no. 47, and the page shows BTC 109%, ETH 101%, USDT 105% and USDC 100% (viewed 2026-10-11).
- Binance: the Binance proof of reserves page takes a snapshot once a month. The latest is the 2026-10-01 00:00 UTC snapshot, showing BTC 100.35% and USDT 103.88% (viewed 2026-10-12).
As for major incidents, each exchange has a record of a hack or a withdrawal suspension, and both have reached plea agreements with the US Department of Justice:
- Binance hack, 2019-05-07: hackers obtained a large number of users’ API keys and 2FA codes and withdrew 7,000 BTC from the hot wallet (about 2% of Binance’s BTC holdings). Binance announced that its SAFU user protection fund would cover the full amount and user funds would not be affected (Binance security incident announcement).
- Binance guilty plea, 2023-11-21: Binance admitted to violating the US Bank Secrecy Act and other charges and agreed to pay more than 4 billion USD; founder Changpeng Zhao (CZ) also pleaded guilty and stepped down as CEO (US Department of Justice press release).
- OKX withdrawal suspension, 2020: OKX (then named OKEx) suspended crypto withdrawals in October 2020 and announced they would resume by November 27. It set aside 20% of its futures and perpetual fee revenue over the seven weeks from October 16 to December 4 as compensation rewards, and users with net assets above 10,000 USDT also received fee rebate cards worth 100–1,000 USDT (OKX compensation announcement).
- OKX guilty plea, 2025-02-24: Aux Cayes FinTech, which operates OKX, admitted to operating an unlicensed money transmitting business and agreed to pay more than 504 million USD in penalties and forfeiture (US Attorney’s Office for the Southern District of New York press release).
Proof of reserves only reflects the assets at the moment of the snapshot; it isn’t deposit insurance. Whichever exchange you use, consider moving coins you won’t trade for a long time to a wallet you control yourself. Hacks, withdrawal suspensions and regulatory records for 13 exchanges are collected in exchange safety records.
Binance or OKX: which should you choose?
- Beginners who mainly buy spot: choose OKX. You don’t need to hold a platform token, and its 0.08% Maker fee is already lower than Binance’s 0.1%; reserve ratios are listed monthly right on the official page, which makes them easier to check.
- High-volume futures traders who often place market orders: choose Binance, provided you’re willing to hold BNB. The USDⓈ-M futures Taker fee drops from 0.05% to 0.045%, and there are more perpetual futures to choose from. Keep in mind that Binance’s futures rebate has a 12-month term.
- If you want to trade with grid, signal or other strategies, or often use an on-chain wallet: choose OKX. It lists 11 strategies and has its own non-custodial Web3 wallet.
- If you just want the lowest fees: if you’re willing to hold BNB, choose Binance; spot at 0.075% and futures Taker at 0.045% is the lowest VIP 0 combination of the two. If you don’t want to hold BNB, choose OKX if you often place limit orders; with market orders only, the two cost the same.
- If you already have an account and may want to change referrers later: OKX is more flexible, since you can submit a switch request; on Binance, once a referral is bound it can’t be changed.
- If regulatory compliance in Taiwan matters to you: neither exchange is on the FSC’s registration list. Use a registered domestic platform for TWD deposits, withdrawals and long-term holdings, and use an offshore exchange when you need futures or more coins.
Many traders open accounts on both, trade on whichever has lower fees and keep the other as a backup, so they still have somewhere to trade if one of them suspends withdrawals or goes down for maintenance.
Still weighing other exchanges? If you trade a lot of futures and are also looking at Bybit, see Binance vs Bybit and OKX vs Bybit; to compare OKX with exchanges known for copy trading and low fees, see Bitget vs OKX and OKX vs MEXC. Each exchange’s fees, rebates, proof of reserves and restricted regions are covered in full in the Binance review and the OKX review.
How do you transfer from Binance to OKX, and what does it cost?
There is no internal transfer between the two, so USDT has to go out as an on-chain withdrawal: first go to the deposit page on the receiving exchange, choose USDT and a network and copy the address, then go to the withdrawal page on the sending exchange, choose the same network and paste it. The sending exchange charges the withdrawal fee, a fixed amount per withdrawal no matter how much you send. According to the Binance deposit and withdrawal fee page and the OKX withdrawal fee page as of 2026-10-12, the cheapest networks open on both sides are:
- Binance → OKX: use Optimism or Avalanche C-Chain, 0.04 USDT each (minimum withdrawal 3 USDT and 5 USDT respectively). Binance’s Plasma costs only 0.012 USDT, but OKX labels Plasma as USDT0 and Binance doesn’t, so check the contract address on the deposit page first.
- OKX → Binance: use Aptos, 0.0012 USDT (minimum withdrawal 2 USDT). OKX has no BEP20 for USDT, and it labels Plasma, Arbitrum One and Polygon as USDT0.
On the commonly used TRC20, both charge 1.5 USDT, far more than the networks above. Fees can change at any time, so go by the amount shown on the withdrawal page before you confirm, and make sure the receiving exchange’s deposit page offers the same network; if you pick the wrong network, the funds may not be recoverable. For every network’s fee and minimum withdrawal at 13 exchanges, see USDT withdrawal fees compared.
FAQ
Which has lower fees, Binance or OKX?
With market orders only, they’re the same: 0.1% on spot and 0.05% on USDⓈ-M futures. Binance with the BNB discount on is the cheapest, while OKX is cheaper if you don’t hold a platform token and often place spot limit orders. Paying fees with BNB on Binance brings spot to 0.075% and futures Taker to 0.045%; OKX’s spot Maker fee is 0.08%, against 0.1% on Binance without the discount.
Can I use Binance and OKX at the same time?
Yes. They’re separate companies, so you just sign up and verify your identity on each. The thing to watch is entering the referral code when you sign up on each one: OKX doesn’t let you add one after sign-up, and Binance only allows it within 30 days of sign-up before any deposit or trade. Moving coins between them is an ordinary on-chain transfer, and you pay the network fee for the withdrawal.
Should people in Taiwan use Binance or OKX?
In Taiwan the two are on similar footing: neither is on the FSC’s anti-money-laundering registration list, and neither offers direct TWD deposits, so it comes down to what you trade. Choose Binance if you trade a lot of futures and are willing to hold BNB; choose OKX for spot and strategy trading. For TWD deposits on either, you first buy USDT on a domestic platform and transfer it over; OKX stopped TWD C2C on 2024-06-24.
Which is safer, Binance or OKX?
Both publish proof of reserves and both have had major incidents, so neither can be called absolutely safe. OKX’s official page lists its September 2026 ratios directly (BTC 109%, USDT 105%); Binance lost 7,000 BTC in a 2019 hack, which its SAFU fund covered in full. Both have reached plea agreements with the US Department of Justice. If a dispute arises in Taiwan, neither is covered by the domestic dispute resolution mechanisms.
Which gives a bigger referral code rebate?
The official cap on the invitee’s rebate is 20% on both; the difference is in the rules. Binance’s futures rebate lasts only 12 months from opening the futures account and stops at VIP 3 or above; OKX doesn’t state a term, and the rebate only ends at VIP 7 or above. For this site’s current rates on both exchanges and the calculators, see the “at a glance” table and the fee calculators above.
To sign up directly, see Binance referral code and OKX referral code; rate details are in Binance fees and OKX fees; if you already have an account, the switching rules are in switching your Binance referral code and switching your OKX referral code. The actual fees on each exchange after the rebate are compiled in actual fees after referral code rebates; for other exchanges’ referral codes and rebates, see the crypto exchange referral code roundup.
Sources: this article was checked against both exchanges’ official pages from 2026-10-11 to 2026-10-12. Fees are based on the Binance spot fee page, the Binance futures fee guide, the Binance VIP program update announcement and the OKX fee page; rebates and switching on the Binance Referral Pro FAQ, the Binance affiliate program guide, the OKX affiliate rules and the OKX referral program guide; identity verification on the Binance identity verification guide and the OKX identity verification FAQ; Taiwan registration status on the Securities and Futures Bureau’s “virtual asset service providers” section; reserves on the Binance proof of reserves page and the OKX proof of reserves page; and major incidents on the Binance security incident announcement, the OKX compensation announcement and the US Department of Justice press releases on Binance and OKX. USDT withdrawal fees are the figures on both exchanges’ official fee pages on 2026-10-12.