OKX Australia: what can I use in Australia?

What's changing?

If you're an Australian resident, you're currently provided services by Aux Cayes FinTech Co. Ltd. (a Seychelles registered company) (Aux Cayes). As part of our global commitment to compliance with local regulatory standards and to providing local currency support, your OKX experience will soon be provided by entities registered onshore in Australia. Under these changes:

• Digital currency exchange services including fiat services will be provided to you by OKX Australia Pty Ltd;

• Derivatives and margin related products and services will be provided to you by OKX Australia Financial Pty Ltd, provided that you pass a suitability assessment and meet the definition of a wholesale client as set out in the Corporations Act 2001 (Cth);

• Other selected products and services will continue to be offered by the relevant OKX entities as set out in our Updated Terms of Service (to be published on our website closer to 20 March 2024); and

• You'll no longer be able to access certain products and services through Aux Cayes (including derivatives and margin related products and services).
  

What do I need to do?

Commencing from 20 March 2024, users who are identified as Australian residents and who wish to continue to use the OKX platform will be required to complete an identity verification process and agree to the Updated Terms of Service. You'll be required to close any open positions as well as exit any unsupported features.

How can I access derivatives and margin related products?

To access derivatives and margin related products and services, you'll first be required to complete identity verification and transition your trading experience to our Australian entities. Once your account has been verified, you'll have to pass our suitability assessment and demonstrate that you meet the definition of a wholesale client as set out in the Corporations Act 2001 (Cth).

What if I don't complete the sign up process?

If you don't complete the sign up process, your account will enter a restricted mode. Your ability to transact will be limited and you'll only be able to withdraw your assets.

What are the supported products I can access as an OKX Australia customer?

What are the supported tokens I can trade as an OKX Australia customer?

Note: the list of the tokens is for reference only for launch, and not all tokens may be eligible for derivative trading. The tokens offered post launch are subject to change and may not be reflected below.

What if I hold products or tokens currently that won't be supported by OKX Australia after launch?

Before being able to redo your verification process as an Australian customer, you'll need to make sure you only hold products associated with being a non-wholesale customer. This may require you to:

• Close your open positions

• Cancel your open orders

• Stop trading bots

• Unfollow traders in the copy trading function

• Redeem all your Grow products

Important Note: you may continue to hold unsupported tokens, however they'll enter a withdraw only status once you're moved to the Australian service. This means you'll NOT be able to sell the tokens on OKX once the Australian service has gone live commencing from 20 March 2024, only withdraw. Crypto withdrawals have withdrawal fees associated. You may want to consider trading these tokens prior to the live date.