OK Exchange (OK exchange) is an Iranian crypto exchange that started operating in 1396 and provides cryptocurrency buying and selling services to users inside the country. The company was formed through the collaboration of a group of specialists and enthusiasts in blockchain and today, in addition to fast crypto swaps, it also offers users a professional market and margin trading. Buying with Toman and access to services via the website and app are the platform's main features.

The legal owner of OK Exchange is Amatis Dadeh Pardaz Mehr Iranian Company ; this is the same name you see when making a bank payment to the exchange. In the terms of service, the company is referred to by the shorter name «Amatis Iranian».

OK Exchange's offices are located in Bahar Street, Tajrish, Tehran and Janbaz Square, Mashhad , but the exchange has not specified which one is the headquarters. These offices do not accept in-person visits from users; to follow up on account issues or other requests, you need to use the exchange's support channels.

In Tir 1400, OK Exchange received the «Knowledge-Based Type 2» designation; this designation appears both on the exchange's licenses page and in the company profile on the specialist outlet Rahe Pardakht. Keep in mind that knowledge-based status relates to the company's technological activity and is not, by itself, a license to buy and sell crypto or a guarantee that users' assets will be repaid. Membership in trade associations has the same limitation; for example, a membership certificate does not mean the exchange's reserves are supervised by a financial authority.



OK Exchange has a history of membership in the Iran Fintech Association under number 214. The published certificate for this membership was valid until 15 Mordad 1404 and has now expired; therefore, confirming the exchange's current membership requires a renewed certificate or an inquiry with the association.

User experience forms another part of OK Exchange's credibility picture. In Google Play reviews, some users have complained about withdrawal delays, deposit problems and the way support responds. These complaints point to issues worth considering before choosing an exchange, although judging each case also requires knowing the cause of the problem and the outcome of the follow-up. A single negative review does not prove fraud on its own; having a known name and legal identity does not answer all of these complaints either.

According to figures released by the company, OK Exchange has more than two million users. Supporting over 700 cryptocurrencies, the exchange offers users a wide range of choices. These figures come from the exchange itself, and it is unclear how many of these customers still trade or hold a balance in their accounts; so two million customers does not necessarily mean two million active traders.

At the time of review, the OK Exchange app on Google Play also had over 500 thousand downloads and a rating of about 3.6 out of 5 . These numbers give a picture of the app's downloads and user experience, but they do not show the number of customers, the security of assets or the exchange's financial strength. Store figures and ratings may also change over time and depending on the region where they are displayed.

OK Exchange's position among Iranian exchanges cannot be determined from these numbers alone. Such a comparison requires information such as actual trading volume and the number of active users over the same time period. For OK Exchange, no independent, transparent data is available to confirm its national ranking or total daily trading volume.

One of OK Exchange's concrete measures to protect accounts is making two-factor authentication mandatory for withdrawals as of 29 Shahrivar 1404 . Since then, users must enter a one-time password from apps such as Google Authenticator instead of an SMS code to confirm withdrawals. This feature can also be enabled for logging in; in that case, someone who has your password still needs the two-factor code to log in.

Note that disabling this feature comes with a 24-hour suspension of Rial and crypto withdrawals; a restriction that removes the chance of an immediate withdrawal after security settings are changed. Alongside account protection, OK Exchange runs a «bug bounty» program for receiving vulnerability reports. Security researchers can report technical weaknesses through this channel and, if the report is accepted, receive a reward under the program's terms.

In Mehr 1400, OK Exchange also unveiled an internal fund called the «Asset Insurance Fund» to provide backing for protecting users' assets. However, to understand the extent of this protection, the fund's balance, compensation terms and coverage cap need to be clear. At present, though, no public audit report on the fund's balance and ability to cover losses has been published.

Does OK Exchange have a history of fraud?

So far, no final ruling or official judicial notice proving fraud by OK Exchange has been published in public sources. Some users complain about withdrawal problems and how support responds; complaints that should be assessed based on the details of each case and the outcome of follow-up. These complaints alone do not prove fraud, but the absence of a court ruling does not mean full endorsement of the exchange's performance or a dismissal of user complaints either.

Another issue that may cause confusion is scams using the OK Exchange name . In Tir 1403, the exchange warned about the misuse of its name and logo in fake links and apps.

What was the OK Exchange user data leak in 1402?

In Shahrivar 1402, news of access to OK Exchange users' identity images raised concerns about the exchange's data security. In response, OK Exchange acknowledged that a number of the images had become public and explained that a glitch in the technical process during the migration of the identity photo database had caused it. The company's technical team also apologized to users for this failure.

In the same notice, the exchange stressed that the problem was limited to the archive of identity images and that users' assets and trades were not affected. What has been confirmed about this incident is the exposure of some users' images ; the available evidence does not prove theft of crypto or a breach of the exchange's wallets. Even so, protecting identity verification documents is also part of the exchange's security responsibility, and this incident should be taken into account when assessing OK Exchange's track record.

A wide variety of cryptocurrencies is one of OK Exchange's standout features. Support for more than 700 cryptocurrencies alongside instant swap, a professional market and margin trading lets users choose the trading method that suits their needs. That said, the number of coins isn't the whole story; the buy and sell prices, the networks available for withdrawal and the market depth of each cryptocurrency also affect the cost and quality of a trade.

On the security side, mandatory two-factor authentication for withdrawals and a vulnerability reporting program are among this exchange's strengths. On the other hand, a history of leaked ID images and complaints from some users about withdrawals and responsiveness should also be considered in assessing it. The table below puts these strengths and points to consider side by side.
 

To choose between OK Exchange and other Iranian exchanges, comparing a specific trade is more practical: how much does buying the same amount of a cryptocurrency cost on each exchange, and with what fees and conditions can it be transferred to a personal wallet? Features such as an app and two-factor authentication exist on other platforms too; the final cost, access to the network you need, and the quality of withdrawals and issue resolution are more precise criteria for choosing.

OK Exchange, operating since 1396, offers users reasons to choose it, including a wide variety of cryptocurrencies and features such as two-step withdrawal verification. However, a past leak of identity images and uncertainty about the backing of its asset protection fund weigh on any assessment of its trustworthiness. If you plan to use this exchange, check the fees and withdrawal conditions for the cryptocurrency you want, and test the buying, withdrawal and support response process with a limited amount. Going through these steps yourself, alongside the company's track record and security measures, will give you a clearer picture of how well OK Exchange fits your needs.