Platform review

OSL review

OSL combines order-book Pro Trade with quote-based Flash Trade and OTC. Documented Hong Kong pricing distinguishes maker execution, selected stablecoin pairs and schedule dates.

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Pricing scope
Hong Kong Pro Trade and general fee page
HK Pro Trade maker
0% for spot from 2 November 2026
HK stablecoin taker
0.05% for the six listed pairs

Hong Kong rates and general fee page

Product-specific feesFees with the relevant trading context
Entities and custodyDifferences relevant to users
Editorial analysisFees, products and risks in context

Best of OSL

Strengths

  • Pro Trade HK publishes zero maker across spot pairs.
  • Flash Trade and OTC use all-in quotes.
  • The stablecoin pairs carrying 0.05% taker are identified.

Areas to improve

Relevant limitations

  • HK pricing is not extended to OSL EU GmbH.
  • The 0.05% taker applies to specified pairs only.
  • No additional OTC fee does not mean zero spread.

An order book or a quote for a specific transaction

OSL is useful when quote currencies and execution format matter. Pro Trade supports maker/taker assessment; Flash Trade and OTC offer all-in pricing. These do not describe one interchangeable rate. Stablecoin-to-USD/HKD routes need the actual pair. European account buying should not be budgeted using Hong Kong prices by default. Each format is evaluated for the workflow it actually serves.

Review product terms and risks before trading.

Pro Trade, Flash Trade and OTC

HK announcements price Pro Trade as the book reference. The general page describes Flash Trade and OTC without an additional OSL charge beyond the all-in quote. Compare equivalent asset, amount and currency through net receipts. Absence of a separate commission line does not establish the same price as a book. The fee-model guide explains the distinction. Standalone custody is separately bespoke, not universally free account functionality.

Zero maker and selected taker pricing from November

Effective 2 November 2026, HK maker is zero across spot. The 0.05% taker applies to USDT/USD, USDT/HKD, RLUSD/HKD, USDGO/USD, USDGO/USDC and USDGO/USDT. A hypothetical eligible 10,000-unit execution produces five units in taker commission. Other pairs are not assigned that rate. Zero maker does not guarantee a fill. The orders guide explains providing and taking liquidity without treating the minimum fee as a better-result guarantee.

Fees by product
Product or movementPublished terms
HK Pro Trade maker0% across spot; effective 2 November 2026
HK Pro Trade taker, six pairs0.05%; USDT/USD, USDT/HKD, RLUSD/HKD, USDGO/USD, USDGO/USDC, USDGO/USDT
Flash Trade / OTCAll-in price, no additional OSL fee
Exchange custody servicesMonthly maintenance, historical statements and audit confirmations waived on general page

Six pairs rather than a universal stablecoin rate

The six pairs use different fiat currencies and stablecoins. USDT/HKD does not produce the same balance as USDGO/USDC. Decide whether the desired result is fiat on-platform, another stablecoin or a transferable asset. A low execution fee does not price prior acquisition or subsequent exit. The stablecoin guide distinguishes tokens and buying routes. Listing the six pairs prevents extending 0.05% to any familiar stablecoin combination.

The June-to-November change

An earlier notice set zero maker/taker from 11 June 2026 for those pairs and KYC-verified professionals. November changes taker, so the earlier zero cannot remain the current two-sided rate. A schedule date changes a comparison even when asset and provider are unchanged. Historical executions need historical terms; new ones need the applicable condition. Current maker and old taker are not combined into a fictional offer.

Assessing an all-in quote

For Flash Trade or OTC, compare amounts delivered and received. Convert a Pro Trade executable quote into net balance after commission. Do not add an already included charge twice or assume no spread because no additional fee appears. Quotes may change with size. The total-cost guide places formats on a common basis without claiming OTC is always cheaper or zero maker always gives the best net price.

Exchange custody and standalone custody

The general page waives exchange-line monthly maintenance, historical statements and audit confirmations. Standalone custody is bespoke without a numerical price in the material used. An administrative waiver does not establish free withdrawals or every movement. Custody-focused users need the actual included service; execution-and-transfer users prioritise exit differently. The custody guide distinguishes conservation services and key control without absolute guarantees.

USD or HKD proceeds are not yet a bank withdrawal

Selling into fiat produces a platform balance, not automatically a bank withdrawal at a known price. The general fiat table does not supply figures here for all funding and exit methods. Stablecoin transfers need network and destination checks; trading between tokens does not establish every network. See the transfer guide. OSL EU GmbH retains its own scope rather than inheriting HK banking, Pro Trade or custody terms.

Stablecoin conversion: book price and received balance

For a hypothetical eligible pair at 0.05% taker, a 20,000-unit base gives ten units in that component. Zero maker removes that commission but may involve another price or no fill. Compare Pro Trade and Flash Trade through equivalent net receipts. All-in quotes can differ without a separate fee. Preserve reference currency: HKD and USD units are not identical values. Subsequent conversion or withdrawal remains another stage. This illustrates HK rates rather than fixes quotes or another entity’s pricing.

Choosing an equivalent reference

Bullish offers another product-specific pricing reference. Coinbase and Kraken provide other buying/execution formats. Compare quotes or net book outcomes with equivalent asset and size. HK assessment needs OSL’s pairs and dates; European accounts need that offering’s own terms. Regional capabilities are not combined as though every account receives every price and tool.

Who may find it suitable?

OSL combines order-book Pro Trade with quote-based Flash Trade and OTC. Documented Hong Kong pricing distinguishes maker execution, selected stablecoin pairs and schedule dates.

Our review of OSL

OSL is relevant when separating books and quotes, particularly Hong Kong stablecoin routes. Pro Trade gives an explicit maker reference and selected taker rates; Flash Trade and OTC need net-quote assessment. European terms remain a separate offering.

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Frequently asked questions

Is stablecoin taker zero?

The November notice changes taker to 0.05% for six pairs; June’s earlier zero is not used as current pricing.

Does OTC add a separate commission?

The general page describes all-in quotes without another OSL commission; the quote still matters.

Are these OSL EU rates?

No. HK and general-page figures are not attributed to OSL EU GmbH.

Is every custody service free?

No. Standalone custody is bespoke; the cited waivers concern specific exchange-line services.