Key Takeaways:
- OKX expanded X-Perps to Magnificent 7 stocks, SPY, QQQ, gold, silver and oil
- EU retail traders can trade with up to 10x leverage using crypto margin
- Volumes surged 447% since May 1 as clients migrated from offshore platforms
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OKX launches 10 stock and commodity perps for EU retail traders
OKX rolled out perpetual futures tied to 10 major US equity and commodity benchmarks for European retail customers, bringing stock derivatives trading into a single regulated crypto account.
"X-Perps volumes in Europe have risen more than 447% since May 1 and are predominantly being driven by new clients who previously traded US equity-linked derivatives on offshore or unlicensed platforms," Erald Ghoos, chief executive of OKX Europe, said.
The contracts cover the Magnificent 7 technology stocks, the S&P 500 via SPY, the Nasdaq-100 via QQQ, plus gold, silver and oil — all with up to 10x leverage and settled from the same margin pool as customers' crypto holdings. OKX first launched X-Perps in April with Bitcoin, Ether, Solana and XRP contracts.
The expansion positions OKX against Coinbase, Kraken and Binance in the race to package traditional financial derivatives into crypto-native products for European retail, ahead of the European Union's full MiCA framework implementation on July 1, 2026.
Kraken rolled out regulated tokenized equity perpetual futures for non-US clients in February, including instruments tied to the S&P 500, Nasdaq 100 and gold. Coinbase followed in March, launching stock perpetual futures for non-US users via Coinbase Advanced. Binance expanded into equities-linked products earlier in June, offering commission-free trading for US-listed stocks and ETFs.
The convergence comes as European regulators examine how existing securities rules apply to crypto-linked investment products. The European Securities and Markets Authority warned in February that leveraged crypto-linked derivatives may fall under existing EU CFD rules, which impose limits on leverage, margin close-out protections and risk warnings.
Crypto asset service providers that fail to obtain authorization under MiCA by the July 1 deadline will be required to stop serving EU clients.
This article is for informational purposes only and does not constitute investment advice.
[1] OKX Launches EU Stock Perpetual Futures for Retail Traders[2] OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures[3] OKX launches X-perps on the Magnificent 7 stocks, gold, silver and oil for European traders[4] OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures - MSN
