FTX Exchange Review (ENDED EXCHANGE)

 

 FTX REVIEW AT A GLANCE

■ TYPE: CRYPTO EXCHANGE OFFERING DERIVATIVES & OTHER LEVERAGED PRODUCTS

■ WALLET: COLD WALLET

■ HEADQUARTERS: ANTIGUA AND BARBUDA (FTX TRADING LIMITED)

■ ONLINE SINCE: 2019

■ CUSTOMER SERVICE: EMAIL | TICKETING SYSTEM

■ LANGUAGES: 12 LANGUAGES

 

INTRODUCTION TO THE FTX EXCHANGE

FTX is a fully-featured crypto exchange offering cryptocurrency trading, Futures, Options, Volatility Tokens, stocks, and Prediction Markets. FTX provides a modern trading platform based on TradingView that is easy to use. In order to start trading with FTX you don't need to get verified. Nevertheless, account verification extends withdrawal limits. Concerning account funding, you can deposit cryptocurrencies or FIAT money via credit/debit cards and bank wire.

FTX has also developed its own native cryptocurrency, called FTT, which supports staking and offers reduced fees.

■ SUPPORTED COUNTRIES: Most countries, excluding the US, Cuba, Syria, North Korea, Iran, Antigua & Barbuda

■ SERVICES: Crypto Trading, Derivatives, Leveraged Products, Prediction Markets, OTC Services

■ FIAT CURRENCIES: USD, EUR, GBP, AUD, and CAD (FTX supports bank deposits and cards: Visa and Mastercard)

 

 

FTX FUND METHODS AND FEES

FTX handles deposits via various FIAT currencies and cryptocurrencies.

Depositing Funds:

□ DEBIT/CREDIT CARDS: VISA/MASTERCARD

□ BANK WIRE

□ CRYPTOCURRENCIES

Fees for Withdrawing Funds:

□ Not charging deposit/withdrawal fees

 

FTX TRADING FEES

FTX supports the following tiered-fee structure for all their financial products. 

	Monthly Volume	Maker Fees	Taker Fees
Tier-1	0	0.020%	0.070%
Tier-2	2 million USD	0.015%	0.060%
Tier-3	5 million USD	0.010%	0.055%
Tier-4	10 million USD	0.005%	0.050%
Tier-5	20 million USD	0.000%	0.045%
Tier-6	50 million USD	0.000%	0.040%

 

 FTX FINANCIAL INSTRUMENTS & ASSET INDEX

FTX offers spot crypto and a wide variety of derivative products to trade:

□ Availability of hundreds of different crypto pairs

□ Trade more than 200 different Perpetual Contracts (Futures)

□ Trade other leveraged crypto products (more than 100)

□ Trade 15 Volatility Tokens

□ Stock tokens (trade more than 100 different stocks including MicroStrategy, PayPal, Amazon, Tesla, and Apple)

□ Prediction markets

 

FTX PLATFORM & TECHNOLOGY

The FTX trading platform offers a user-friendly interface and supports 13 timeframes and a full set of trading orders.

Key Features

• Based on TradingView (like Binance)
• Advanced charting capabilities (offering 11 different chart types)
• 13 timeframes
• More than one hundred built-in indicators
• Order Book and market trades
• A full set of trading orders

FTX Platform's Security

• 2FA for Withdrawals & Withdrawal Password
• Notifying Users of any Suspicious Activity
• Whitelisting IP's & Wallet Addresses
• Backstop Liquidity Fund

Trading Orders

• Market order & Limit orders
• Stop Market & Stop Limit orders
• Take-Profit & Take-Profit Limit orders
• Trailing-Stop order

FTX Blockchain (FTT)

• FTX has built its own native coin, it is called FTT.

 

POSITIVES OF FTX REVIEW

(√) A good variety of crypto pairs

(√) Low-fee crypto trading, which can become even lower using FTT token discounts

(√) Ability to use multiple financial instruments in the same account (spot crypto, perpetual futures, leveraged products, prediction markets, etc.)

(√) FTX platform is user-friendly and offers a full set of trading orders

(√) Deposit via cards, wire, and crypto

(√) Stock Tokens (trade hundreds of different stocks)

 

NEGATIVES OF FTX REVIEW

(x) Their corporate model is not very transparent (like most cryptocurrency exchanges due to the complex legislative environment)

(x) FTX is not regulated by a reliable authority

 

FTX REVIEW CONCLUSIONS

Founded in 2019, FTX is a popular crypto exchange offering a wide asset index and a great variety of financial instruments in a single account. FTX accepts users from most countries around the globe, but not from the US. Note that FTX is owned by FTX Trading Limited which is domiciled in Antigua and Barbuda. FTX.US, is a separate trading platform not owned by FTX, and does operate in the United States.

Concerning trading accounts, you can easily open and fund an account and gain access to hundreds of crypto pairs, perpetual futures, leveraged products, prediction markets, etc. You can instantly start trading with FTX even before you get verified. However, by completing the verification process you can extend your withdrawal limit. 

The trading fees are low compared to the competition and become even lower when using the native cryptocurrency FTT. Based on TradingView, their platform is easy-to-use and provides 13 timeframes and a full set of trading orders (market order, limit order, stop-market, stop-limit, take-Profit, take-profit limit, and trailing-stop).

Professional traders can use OTC market services and take advantage of advanced features and reduced fees. Overall, FTX is one of the best places to easily trade cryptocurrencies and leveraged financial products by paying low fees.

 

■ FTX Review

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