The FTX Exchange is a leading cryptocurrency trading platform that have taken the world by storm with their unique offering of financial products and cutting-edge trading features.
FTX was created in 2017, but it has quickly gained popularity because of its focus on quality rather than quantity. This review will provide an overview of what FTX offers, how it differentiates itself from other platforms while assessing the features, user interface, products and more.
While we aim to provide you with accurate information in this FTX exchange review, it’s always best to keep updated with any changes that may occur afterward so be sure to regularly visit the site for updates!
What Is FTX?
FTX is a cryptocurrency derivatives exchange that has been built by traders and designed to offer a powerful platform for professional trading firms, intermediate traders and beginners. Users on the platform have access to innovative cutting-edge trading markets such as derivatives, options, volatility products and leveraged tokens.
Source: hedgewithcrypto.com
FTX Exchange is a trading system designed to be trader-friendly. FTX offers numerous benefits such as FTX Trader System, which equips traders with all of the tools needed to trade on FTX.
FTX Trading System provides essential features for analyzing market data, executing trades and managing portfolios in one place. It also helps users make informed decisions about their investments by providing access to live quotes from financial markets across the world.
FTX Quick Summary
| Exchange Name | FTX |
| Trading Pairs | 100+ |
| Fiat Gateway | Yes (USD, AUD, GBP, EUR etc) |
| Leverage | Up to 101x |
| Trading Fee | -0.025% and 0.0075% |
| Withdrawal Fee | Crypto standard network fee |
| TP/SL Orders | Yes |
| Mobile App | Yes |
Who Owns FTX?
The CEO and co-founder of Alameda Research, Sam Bankman – Fried runs an industry leading cryptocurrency liquidity provider that has access to the best order books with their own FTX exchange.
They manage over $100 million in digital assets on behalf of traders worldwide making them one if not t he most reliable exchanges out there for trading cryptocurrencies .
Products & Features of FTX Exchange
FTX is a global, low-cost cryptocurrency exchange which was created with the aim to make trading simple and safe. FTX will bring together all major cryptocurrencies on one platform and enable fast and secure transactions as well as allow for the trade of more than 300 types of crypto assets.
The goal they have set for their users is to create a new type of exchange which will have low fees, be user-friendly and highly reliable. FTX token holders will get access to exclusive deals, promotions and priority services on one of the world’s largest cryptocurrency exchanges.
The main advantages of FTX are:
- Low Fees for transactions ($0.1).
- Quick Deposit and Withdrawal of Funds
- A wide range of cryptocurrencies for trading – more than 300.
- Wide functionality and high security.
Lowest Fees
FTX fees are up to 50 times lower than the fee on other exchanges. This means that FTX is not only cheaper, but also faster. Other exchanges can be too expensive to use due to the high percentage fees of every transaction.
FTX is based on an innovative technology which enables high performance and low latency for both users and traders, making it friendly for global cryptocurrency transactions. This allows FTX to provide more than 300 cryptocurrencies with $0.1 fee per transaction.
Multiple Currencies on One Platform
FTX will bring together all major cryptocurrencies on one platform, allowing users to trade more than 300 crypto assets. Users will be able to easily find the coin they are looking for with support for various trading pairs. This means that you can exchange your cryptocurrency for another in just a couple of clicks.
Most advanced security measures
Cryptocurrency assets are always vulnerable to theft by hackers. The FTX exchange has implemented advanced security measures to protect customers against potential threats. These include 2FA, cold storage, IP whitelisting and other detailed security settings.
Speed & ease of use
We want our users to easily make transactions on FTX with a minimum of time wasted. FTX has high-performance order matching that enables quick transactions with the lowest latency.
FTX Account Register
To create an account with FTX, users will need to go through a registration process to setup a derivatives trading login. Users can start trading on the crypto exchange and withdraw up to $2,000 USD per day with email verification only.
Tier 2 and 3 account holders that complete KYC can withdraw unlimited amounts of cryptocurrency to a hardware wallet such as the Ledger X, or cash out fiat directly to a bank account using a wire transfer. FTX account holders that complete the AML/KYC process can use the OTC desk as well.
Source: hedgewithcrypto.com
FTX registration is easy and follow just few step:
- Go to the FTX home page: FTX.
- Click “REGISTER” in the top right corner.
- Fill in you email and password in the pop-up registration window.
- Registration Successful!
How to Fund on FTX Exchange?
FTX allows traders to fund their account via various deposit methods, including cryptocurrency and fiat currencies. Traders can purchase crypto directly from the platform with Simplex’s card payment option or by transferring some other stablecoin such as USDT, USDC etc., which will be credited 1:1 into your wallet upon approval for deposits.
FTX Exchange User Interface
FTX Exchange has been designed for beginners and professional cryptocurrency traders on the platform by offering a simple, easy to navigate and intuitive user interface.
The trading platform allows users to trade cryptocurrencies in a secure, easy and transparent environment.
User’s can view prices of various cryptocurrencies on a clean and simple UI that is divided into 4 main tabs:
- TRADING TAB- MAIN TRADING AREA
- ORDERS TAB – VIEW ALL YOUR CURRENT ORDERS
- PORTFOLIO TAB – VIEW ALL YOUR CRYPTOCURRENCY HOLDINGS AND PERFORMANCE (HISTORICAL & CURRENT)
- NEWS TAB – GET THE LATEST NEWS AND DISCUSSIONS ON CRYPTOCURRENCIES
FTX Exchange also allows users to track and manage all your orders in one place to provide the user with an efficient and effective experience.
The platform is constantly evolving, so FTX Exchange users can expect a feature-packed user interface that is not only clean and simple but also lightning fast!
Trading Derivatives
Next generation trading with a single margin wallet.FTX offers the most advanced cryptocurrency products for traders and investors alike, including:
- Futures – users on the platform can trade futures on coins such as BTC, ETH, EOS, XRP, and USDT. Each coin has three futures contracts: a contract that expire this quarter, a contract that expires next quarter and a perpetual future.
- Leveraged Tokens – tokens that can be bought and sold with up to 3X leverage that requires no margin requirements.
- Options – contracts that gives the holder the right but not the obligation to buy or sell at a future strike prices. Often referred to as ‘calls’ and ‘puts’. Advanced traders can use options to hedge their open positions against price volatility.
- MOVE – contracts that represent the absolute value of the amount the price of a coin moves over a time period.
- Spot – trades that follow the underlining price of the asset without margin or collateral
Futures Trading
For those who want to trade with a stablecoin and don’t have the funds, FTX offers over 100 futures pairs that can be traded using USD or USDT as collateral. There’s also an option for traders of all levels:
- BTC-PERP – Bitcoin Perpetual Futures
- ETH-PERP – Ethereum Perpetual Futures
- XRP-PERP – XRP Perpetual Futures
- LTC-PERP – Litecoin Perpetual Futures
- BCH-PERP – Bitcoin Cash Perpetual Futures
Leveraged tokens
FTX has developed an innovative asset for cryptocurrency traders, called Leveraged Tokens. These are ERC20 tokens that have the ability to be leveraged up 3x with no margin requirement from your account balance! There’s even an option of paying in Ethereum or USDT and getting a returning rate on those funds as well.
- BULL/USD – 3x long Bitcoin token
- BEAR/USD – 3x short Bitcoin token
- ETHBULL/USD – 3x long Ethereum token
- ETHBEAR/USD – 3x short Ethereum token
Above are few example of Leveraged Token.
Leveraged Token is an innovative way to trade that takes advantage of the volatility in markets. A trader can use it safely and securely, while limiting their losses when they need more capital for trading with leverage on crypto currency pairs.
FTX Trading Fees
FTX’s fee structure is low, starting from 0.07% to 0.04%. The maker and taker model allows high volume traders with lower trading fees; FTX also has a tiered system that benefits these users in order to keep competition fair for all market participants
| Tier | Volume (30d) | Maker Fees | Taker |
|---|---|---|---|
| 1 | 0 | 0.02% | 0.07% |
| 2 | >1,000,000 | 0.015% | 0.06% |
| 3 | >5,000,000 | 0.01% | 0.055% |
| 4 | >10,000,000 | 0.005% | 0.05% |
| 5 | >15,000,000 | 0.00% | 0.045% |
| 6 | >35,000,000 | 0.00% | 0.045% |
For leveraged tokens, there is a creation and redemption fees of 0.10% or lower with no daily management fee (0%). If you decide to use leverage 50x higher than what’s allocated in your account, trading charges increase by 0.05%. Half our revenue goes into an Insurance Fund which protects traders against currency fluctuations!
When trading on the FTX platform, a trader’s leverage can have an effect on their profits. Leverage of 50x or more will increase your fees by 0.02%. The fee is paid to cover any losses incurred in case if something goes wrong and you’re unable trade with full power; however there are no additional costs when using 100x as opposed what they would deduct from other financial markets like BTC-PERP/ETH PERPs which do not incur such expenses while having higher levels introduced solely due exceeding this level.
FTX users are rewarded with a trading fee discount up to 30% by simply holding the FTX native token (FTT). Discount amount is dependent on your current FTT holdings as per table below:
Deposit & Withdrawal Fees
There are no deposit or withdrawal fees for cryptocurrency coins and tokens using FTX Exchange platform. All fees are deducted from the balance of your account.
You just needed to be aware that there is a fee for FIAT currency withdrawal via bank transfer.
| Deposit fees | Withdrawal fees | |
|---|---|---|
 Euro
|
– | 75.0 USD |
 US Dollar
|
– | 75.0 USD |
 Bitcoin
|
– | 0.0 BTC |
 Ethereum
|
– | 0.0 ETH |
 Tether
|
– | 0.0 USDT |
 Binance Coin
|
– | 0.0 BNB |
 Dogecoin
|
– | 0.0 DOGE |
 Uniswap
|
– | 0.0 UNI |
 Solana
|
– | 0.0 SOL |
 TRON
|
– | 0.0 TRX |
 Aave
|
– | 0.0 AAVE |
 Huobi Token
|
– | 0.0 HT |
 Maker
|
– | 0.0 MKR |
 Celsius
|
– | 0.0 CEL |
 FTX Token
|
– | 0.0 FTT |
 yearn.finance
|
– | 0.0 YFI |
 Waves
|
– | 0.0 WAVES |
 Helium
|
– | 0.0 HNT |
 Compound
|
– | 0.0 COMP |
 Basic Attention Token
|
– | 0.0 BAT |
 The Graph
|
– | 0.0 GRT |
 Australian Dollar
|
– | 75.0 USD |
 Canadian Dollar
|
– | 75.0 USD |
 Pound
|
– | 75.0 USD |
 1INCH
|
– | 0.0 1INCH |
 WazirX
|
– | 0.0 WRX |
 Storj
|
– | 0.0 STORJ |
 Balancer
|
– | 0.0 BAL |
 Swipe
|
– | 0.0 SXP |
 DODO
|
– | 0.0 DODO |
 Audius
|
– | 0.0 AUDIO |
 PAX Gold
|
– | 0.0 PAXG |
 Badger
|
– | 0.0 BADGER |
 Akropolis
|
– | 0.0 AKRO |
 Meta
|
– | 0.0 MTA |
 UpBots
|
– | 0.0 UBXT |
 KeeperDAO
|
– | 0.0 ROOK |
 Sushi
|
– | 0.0 SUSHI |
 StormX
|
– | 0.0 STMX |
 CREAM
|
– | 0.0 CREAM |
 Tether Gold
|
– | 0.0 XAUT |
 BiLira
|
– | 0.0 TRYB |
 Compound USDT
|
– | 0.0 CUSDT |
FTX Mobile App
FTX’s mobile app offers traders the opportunity to monitor and trade at any time or place. The 4.7 star rated application has been downloaded 10,000 times by users who are excited about its features like real-time updates that allow them stay informed on market fluctuations while they’re away from their computer screens!
FTX’s app includes full screen chart functionality, orders, positions and basic chart indicators. The functionality on the FTX app is similar to the desktop version. Traders can edit orders, check trade history and view market information.
Frequently Asked Questions
Is FTX Exchange Regulated?
Yes, FTX Exchange is regulated by ASIC (Australian Securities and Investment Commission) as an AFS license holder. Being regulated by ASIC, it helps to ensure that all FTX clients funds are secure.
However, The trading platform is currently not regulated and US customers are not allowed to use the services. Residents in the States can use FTX.US, a partner entity serving the United States citizens and is a regulated company. For more legal information, users can read here: Legal – FTX Exchange.
What currencies can be traded on FTX?
Currently FTX offer the trading of USD (US Dollars), AUD (Australian Dollars), BTC (Bitcoin) + 15 other cryptocurrencies. However, if you are an Aussie, you can also trade your currency against USD or BTC! Yes that’s right – you will be able to set the sell rate of AUD through our platform without having to go into another exchange!
What types of orders do you offer?
FTX offer limit, market & stop orders. Stop orders allow you to buy or sell once the price of an asset reaches your set price. This is perfect for protecting against huge lumps in the market which can cost you if not careful!
Is FTX Legit?
FTX appears to be a legitimate cryptocurrency exchange that specializes in derivatives, index, Futures and leveraged tokens that can be traded with margin. The exchange is backed by top cryptocurrency liquidity provider Alamada Research which manages hundreds of millions of digital assets per day.
Source: hedgewithcrypto.com
FTX is a legitimate exchange platform for cryptocurrency trading. If you are looking to trade in the crypto market, it’s worth considering.
What Countries Does FTX Support?
FTX exchange is a cryptocurrency service for customers all around the world such as USA, UK and Australia to trade Bitcoin with leverage. There are also other countries that have been banned due regulatory reasons including:
- Québec (Canada)
- Cuba
- Crimea
- Sevastopol
- Iran
- Syria
- North Korea
- Sudan
- Singapore
- United States
Can I Use FTX In The United States?
No, you can not use FTX on the United States due to regulations within the country. However, you can trade on FTX.US and benefir the same as FTX.com.
Bottom Line
It’s clear that FTX has an innovative and modern approach to crypto trading. They offer a wide range of products, including futures contracts and leveraged tokens for cryptocurrency traders who want the opportunity to trade in emerging markets such as Bitcoin Cash (BCH) or Ripple (XRP).
If you are looking for something new in the crypto space, we recommend checking out this exchange.
What do you think about their offering? Do they have what it takes to compete with other well-established exchanges like Binance or Prime XBT? Let us know!