What Has Changed?
If you're an Australian resident, your OKX services are transitioning from Aux Cayes FinTech Co. Ltd. (Seychelles-registered) to locally regulated entities:
- Digital Asset Exchange (including fiat services): Provided by OKX Australia Pty Ltd.
- Derivatives & Margin Products: Offered by OKX Australia Financial Pty Ltd (subject to suitability assessment and "wholesale investor" status under the Corporations Act 2001).
- Other Services: Remain with relevant OKX entities (refer to Terms of Service).
👉 Learn more about OKX's global compliance
Required Actions for Australian Users
Starting 20 March 2024, users must:
- Complete identity verification.
- Agree to updated Terms of Service.
- Close all open positions in unsupported features.
Accessing Derivatives & Margin Products
To enable these services:
- Complete KYC and switch account to Australian entity.
- Pass a suitability assessment proving "wholesale investor" status.
Consequences of Non-Compliance
Unverified accounts enter restricted mode:
- ✅ Asset withdrawals allowed.
- ❌ Trading disabled.
Available Products for Australian Users
| Feature Category | Specific Feature | Standard Users | Verified Wholesale Investors |
|---|---|---|---|
| Buy/Trade Digital Assets | Spot Trading | ✔️ | ✔️ |
| Fiat Services | AUD Deposits/Withdrawals | ✔️ (Personal only) | ✔️ (Personal only) |
| Derivatives | Perpetual Contracts (20x Leverage) | ✘ | ✔️ |
| Margin Trading | Spot Margin (10x Leverage) | ✘ | ✔️ |
| Advanced Tools | API Access | ✔️ | ✔️ |
Supported Tokens in Australia
Note: Token availability may change. Derivatives eligibility varies.
| Major Tokens | Meme Coins | DeFi Tokens |
|---|---|---|
| BTC, ETH, SOL | DOGE, SHIB | UNI, AAVE |
| ADA, DOT, XRP | PEPE, FLOKI | LINK, COMP |
👉 Full token list on OKX Australia
Handling Unsupported Tokens
After the transition (20 March 2024):
- Unsupported tokens enter "withdraw-only" status.
- Cannot be sold on-platform; withdrawals may incur fees.
Action Required:
- Close all positions in unsupported tokens.
- Cancel pending orders and bots.
FAQs
1. How do I verify as a wholesale investor?
Complete KYC and pass the suitability assessment via OKX Australia's compliance portal.
2. Can I still use VPN to access non-Australian OKX services?
No. Australian regulations require strict geo-compliance. VPN usage violates OKX's Terms of Service.
3. What happens to my existing derivatives positions?
All positions must be closed before 20 March 2024. Open positions will be force-liquidated.
4. Are AUD deposits insured?
OKX Australia operates under AUSTRAC regulations, but digital assets aren't covered by government deposit insurance.
5. How long does the KYC process take?
Typically 1-3 business days. Delays may occur if additional documentation is required.
6. Can businesses open accounts?
Yes. Business accounts for AUD services are coming soon (Q2 2024).