TLDR
- OKX launched X-Perps for eligible retail and institutional traders across all 30 EEA countries.
- The product offers five-year expiry crypto futures with funding rates and up to 10x leverage.
- Traders can use EUR, USD, and major crypto assets as collateral in one unified account.
- European users must pass an appropriateness test before trading X-Perps on OKX.
OKX has launched X-Perps in Europe, a MiFID-regulated crypto derivatives product with up to 10x leverage. The product is open to eligible retail and institutional traders. It is available across the European Economic Area.
The rollout extends OKX’s regulated business through its Malta-based MiFID unit. X-Perps are five-year expiry crypto futures. They use funding rates to keep prices close to spot markets.
MiFID rollout reaches the EEA
OKX said the service is now live in all 30 EEA countries. The company tied the launch to its regulated growth plan in Europe. It also adds a new derivatives option for local traders.
The move follows OKX’s March 2025 purchase of a MiFID-licensed entity in Malta. That deal gave the exchange a route to offer derivatives across the bloc. The firm said X-Perps was built to meet MiFID rules.
Europe now has MiCA, MiFID, and related investor protections. Still, regulated crypto derivatives choices have stayed limited for many users. OKX is using X-Perps to enter that space.
Contract design and trading setup
X-Perps launch with pairs tied to BTC, ETH, ADA, DOGE, PEPE, LTC, PUMP, SOL, XRP, and SUI. OKX said more pairs may follow later. The company is also reviewing other high-demand products.
The contracts offer up to 10x leverage for eligible customers. Traders can post EUR, USD, and major crypto assets as collateral. They can do that without settlement delays from forced conversion.
OKX said the product uses its global matching, liquidity, and risk systems. It also uses a unified account with multi-asset and multicurrency modes. Users get advanced orders, charting, mobile access, and API support.
Market data and Europe demand
OKX said derivatives still drive most crypto trading activity. The company cited 2025 crypto derivatives volume of nearly $86 trillion. It said derivatives made up about 79% of global crypto trading.
CoinGlass ranked OKX second in crypto derivatives during the first quarter of 2026. Its reported volume reached $2.19 trillion for the quarter. Binance led the period with $4.9 trillion, according to CoinGlass.
OKX said many European traders had used offshore venues in past years. Others had no local regulated option for similar products. The exchange said X-Perps was designed for that market gap.
User safeguards and access rules
European users must pass an appropriateness test before trading X-Perps. OKX said the test checks user knowledge and trading experience. The company is also adding multilingual learning material for local users.
Those resources cover leverage, margin, and liquidation thresholds. OKX also offers negative balance protection and continuous exposure monitoring. The company said these tools support risk control on the platform.
OKX said the launch is backed by its Proof of Reserves framework. The company publishes those reports each month. CEO Erald Ghoos said, “With X-Perps, we’re extending our proven derivatives offering into a regulated European framework.”





