Binance vs OKX: EU licences, fees and which to choose

Binance vs OKX used to be a close call between two of the largest crypto exchanges. For EU residents it no longer is: on 23 October 2026 only OKX holds a MiCA licence, through OKX Europe Limited in Malta. Binance has no MiCA licence, withdrew its application in Greece in June 2026, and since 1 July 2026 has limited EU users to withdrawals: no sign-ups, deposits, new spot orders or Earn.

Outside the EU the comparison is closer. Binance offers more coins, a 25% spot fee discount when you pay in BNB, and a SAFU protection fund of 15,000 BTC, but it carries the heavier regulatory record. Below we compare licences, fees with euro examples, futures, products and track record, using each exchange’s official pages as checked on 23 October 2026.

Binance vs OKX: the short answer

For EU residents, OKX wins outright, because it is the only one of the two that can legally serve you. For readers outside the EU, Binance remains the larger exchange by coins listed, while OKX’s verified strengths are its EU licences and regulated futures.

• Choose OKX if you live in the EU, want spot and futures trading in one licensed account, or want free euro bank transfers.
• Choose Binance only if you live outside the EU, the US and other places it doesn’t serve, and you accept its regulatory history.
• Leave Binance if you’re an EU user with funds still there: withdrawals remain open, but nothing else does.

Read our full Binance review and OKX review for each exchange on its own.

Can you use both Binance and OKX in the EU?

No, only OKX. Since 1 July 2026, when MiCA’s transition period ended, only firms authorised under MiCA may provide crypto-asset services to EU residents. ESMA told unauthorised firms to stop onboarding and wind down in an orderly way.

Binance: no MiCA licence, withdrawals only

Binance filed a MiCA application with Greece’s HCMC in January 2026 and set up a Greek holding company for it. It withdrew that application on 24 June 2026, after reports that the regulator was leaning towards rejection, and no Binance entity appears in ESMA’s MiCA register (update of 22 October 2026).

From 1 July 2026 Binance stopped onboarding EU users and suspended deposits, new spot orders and Earn, keeping withdrawals open. Binance left the Netherlands back in 2023, after failing to obtain DNB registration. In October 2026 the Financial Times reported that EU officials were questioning Binance’s use of MiCA’s reverse-solicitation exemption to keep serving some EU customers.

Binance has said it is “not leaving Europe” and will seek MiCA authorisation in another member state; the FT reported France as the likely target. We couldn’t confirm a new application as filed or granted on 23 October 2026. Until one is granted, its regulatory status for EU residents is simple: not licensed.

OKX: MiCA-licensed through OKX Europe

OKX Europe Limited received its MiCA authorisation from Malta’s MFSA on 27 January 2025, covering custody, operating a trading platform, exchange, order execution, placing and reception/transmission of orders. The licence is passported to the other EEA countries, including the Netherlands, Germany, Belgium and Ireland.

OKX operates its EU derivatives through a separate legal entity: a Maltese MiFID II investment firm it bought in March 2025. Dutch users were moved to OKX Europe after a DNB fine for earlier unregistered service.

Outside the EU: regional access and regional rules

Binance operates different regional services under different rules. Binance.com doesn’t serve the US; US residents are served only by the separate Binance.US. New UK sign-ups were paused in October 2023. Binance’s licences page lists three Abu Dhabi entities approved by the FSRA in December 2025.

OKX serves US users through a separate OKX US platform launched in April 2025. UK users get a limited offer, with financial promotions approved by a third party. Regional rules change often, so check which legal entity would hold your account before you sign up.

Binance vs OKX fees

At entry level, spot trading fees are similar: both charge 0.10% taker. The differences are Binance’s BNB fee discount, OKX’s X-Perps condition and euro transfers. One caveat: our OKX fees are for the EEA platform, while Binance’s are for its global platform, because EU users can no longer open new spot orders on Binance.

Spot trading fees and the BNB fee discount

Binance charges 0.10% maker and 0.10% taker on spot. Paying fees in BNB (Binance Coin) cuts that by 25% to 0.075%, and VIP tiers lower fees further by 30-day trading volume or BNB balance. Holding BNB to save fees means your asset holdings include a token whose price can fall.

OKX’s EEA spot trading fees are 0.08% maker and 0.10% taker, as long as you have opened an X-Perps account. EEA VIP tiers start from €100,001 in total assets or by 30-day volume, some pairs such as USDC-EUR trade at zero fees, and the EEA fee table shows no OKB discount.

OKX’s X-Perps condition

OKX’s lower trading fees come with a condition. Without an X-Perps (derivatives) account, EEA spot fees are 0.20% maker and 0.35% taker, more than three times the taker rate. You don’t have to trade futures to qualify, only to open the account, so read the X-Perps terms first.

Worked example: €100 and €1,000 spot buys

Here is what a market (taker) order costs at entry rates, as trade size × fee rate.

These are competitive trading fees on both, and on a €1,000 buy the gap is 25 cents at most, unless you skip OKX’s X-Perps account. For EU readers the table is academic: you can’t place a new spot order on Binance anyway.

Futures fees

Futures fees are close. Binance charges 0.02% maker and 0.05% taker on USDⓈ-M futures for regular users, with 10% off when paid in BNB. OKX’s X-Perps cost 0.02% maker and 0.05% taker on the regular tier. Opening and closing a €1,000 position with market orders costs €0.50 + €0.50 = €1.00 on either, or €0.90 on Binance paying in BNB. We didn’t verify margin trading fees or margin fees (interest) on either exchange.

Deposit fees, bank transfers and withdrawal fees

OKX wins on euros. SEPA deposits and SEPA withdrawals are free on OKX (your bank may charge), card buys cost 1.99%, and euro bank transfers are limited to verified EEA residents. Your first withdrawal needs proof that the bank account is yours.

Binance’s EUR deposit and withdrawal fees couldn’t be read, because its fee pages load dynamically and EU deposits are suspended. For crypto, Binance listed 0.00002 BTC to withdraw Bitcoin on the Bitcoin network on 23 October 2026, and OKX charges from 0.000015 BTC. Both move with network conditions.

Futures trading and margin trading

OKX is the only one of the two that offers derivatives trading to EU users, and it does so under a MiFID licence. Binance offers futures, margin and copy trading on its global platform, but EU users can’t use its derivatives.

What EU users can trade on OKX

OKX launched spot margin for EEA customers in December 2025, with up to 10x leverage on BTC and ETH against USDC. In April 2026 it added X-Perps: MiFID-regulated futures with a five-year expiry and up to 10x leverage, for retail and institutional clients. For intermediate and advanced traders in the EU, that combination of spot and futures trading in one licensed account is the main reason to pick OKX.

What Binance offers outside the EU

Binance’s global futures market includes USDⓈ-M futures at 0.02% / 0.05%, plus margin trading and copy trading, for eligible users outside the EU. These products reflect the global platform, not anything open to EU residents, because of the regulatory restrictions that now apply to Binance in the EU.

Liquidation costs

Liquidation is the main risk in the derivatives markets. If losses eat through your margin, the exchange closes your position and the margin is gone, so check each exchange’s liquidation costs before you trade. Experienced traders size positions so a normal day’s move can’t wipe them out.

Crypto trading products: coins, pairs and extras

Binance lists more coins: roughly 500 assets on its global platform, with 13 fiat currencies including EUR, USD and BRL. OKX’s EEA list is about 270 coins, approximated from the 272 assets with EUR pairs in its public API, with EUR and PLN as fiat. Both cover the major trading pairs; Binance has more of the smaller crypto assets.

Copy trading, staking and trading bots

Binance offers copy trading, staking and margin on its global platform, which reflects what non-EU users get. OKX serves copy trading and Earn pages on its EEA site, but we haven’t verified their exact scope for EU users. We don’t compare trading bots or other crypto trading features here, because we couldn’t verify either exchange’s current bot line-up for EU users. Treat copy trading as high risk: copying a trader copies their losses too.

Cards and other trading options

OKX launched the OKX Card, a Mastercard, in Europe in January 2026. We couldn’t verify Binance Card availability. Both offer an API and other advanced tools for traders who want to automate orders; OKX’s advanced trading tools are the ones EU users can actually reach.

Binance and OKX security, reserves and regulatory history

Both have serious records, but Binance’s is heavier. Binance pleaded guilty in the US in 2023 and agreed to pay about $4.3 billion; OKX’s operator pleaded guilty in 2025 and agreed to pay about $504 million. Both publish proof of reserves.

Proof of reserves and Binance’s Secure Asset Fund

Binance publishes Merkle-tree and zk-SNARK proof of reserves and states it holds user assets 1:1. Its SAFU user-protection fund, Binance’s Secure Asset Fund for Users, was converted to 15,000 BTC (about $1 billion) in February 2026, and Binance says it will top it up if it falls below $800 million.

OKX publishes monthly reserves reports using a Merkle tree and zk-STARK proofs. Its 48th report (October 2026 snapshot) showed $29.4 billion in primary assets and a BTC reserve ratio of 110%. OKX publishes no insurance fund figure.

A Merkle tree lets you verify inclusion of your own balance in the snapshot. A proof of reserves doesn’t show every off chain liability, such as loans the company has taken, so it’s one check among several. Neither exchange publishes a cold-storage share.

Security incidents

In 2019 hackers stole 7,000 BTC (about $40 million) from a Binance hot wallet; Binance covered the loss from its SAFU fund. OKX suspended crypto withdrawals from 16 October to late November 2020 while a private-key holder assisted a police investigation in China, and temporarily suspended its DEX aggregator in March 2025 after misuse by the Lazarus group.

Binance’s regulatory record

Binance’s regulatory compliance record is the longest in this comparison. DNB fined it €3.3 million in 2022 for serving Dutch customers without registration, and it left the Netherlands in 2023. The same year it withdrew a BaFin custody licence application in Germany, paused UK sign-ups, and pleaded guilty in the US to anti-money-laundering and sanctions violations; founder Changpeng Zhao also pleaded guilty and stepped down as CEO. In 2025 the SEC dismissed its civil lawsuit, and Zhao was pardoned in October 2025. In 2026 Binance withdrew its MiCA application and wound down EU services.

OKX’s regulatory record

In February 2025 Aux Cayes FinTech, OKX’s global operator, pleaded guilty in the US to operating an unlicensed money transmitting business and agreed to pay about $504 million. Malta’s FIAU fined OKX’s European arm about €1.1 million in April 2025 for AML breaches found in 2023, and DNB fined Aux Cayes FinTech €2.25 million for serving Dutch customers without registration from July 2023 to August 2024. In March 2026 Intercontinental Exchange, the NYSE owner, took a stake in OKX at a reported $25 billion valuation.

Account security

Robust security measures on the exchange side don’t help if your password leaks. Turn on two factor authentication with an authenticator app, use a withdrawal-address allowlist if the exchange offers one, and keep long-term holdings in a wallet you control. Good account security is the one part of the risk you fully control.

Moving from your Binance wallet to OKX

If you’re one of the Binance users in the EU, withdrawing is the only route left, and it still works. Here is a withdrawal route to a licensed exchange; it works the same way for any MiCA-licensed exchange, not only OKX.

Coins that OKX doesn’t list for EEA users can’t be deposited there. Check OKX’s list before you withdraw, or send those coins to a wallet you control.

Who should choose Binance and who should choose OKX

Choose by where you live first. For EU readers that settles it.

Choose OKX if

• you live in the EU and want a MiCA-licensed exchange with spot, margin and futures in one account;
• you want free SEPA deposits and withdrawals;
• you’re moving funds out of Binance and want a similar range of trading tools.

Choose Binance if

• you live outside the EU, outside the US and in a country Binance serves;
• you want the larger coin list and a BNB fee discount;
• you accept a regulatory record that includes a $4.3 billion US settlement.

Choose neither if

• you’re a beginner who wants a simple app for small euro buys; an app-first exchange may suit you better;
• you don’t want an account tied to derivatives to get OKX’s lowest spot fees.

Other crypto exchange options for EU readers

Binance’s EU exit leaves EU readers choosing among licensed exchanges. If OKX’s interface or the X-Perps condition doesn’t suit you, compare it with an app-first rival in OKX vs Crypto.com or a long-standing EU-licensed exchange in Kraken vs OKX. If you’re weighing Binance against other offshore names, Binance vs KuCoin explains why KuCoin’s Austrian licence isn’t operating yet either.

How we built this Binance vs OKX comparison

We’re an editorial team, and we didn’t open accounts for this comparison. On 23 October 2026 we checked both exchanges’ fee pages and public APIs, licence pages, proof-of-reserves pages and ESMA’s MiCA register (update of 22 October 2026). Figures that change often, such as withdrawal fees, carry that date. Statements from the exchanges, such as Binance’s SAFU top-up pledge, are labelled as claims. Our scoring follows our methodology. Nothing here is financial advice; crypto-assets can lose all their value.