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FTX.com Review: An In-Depth Look for 2021

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FTX.com is a versatile exchange that provides traders with a wide range of trading options including crypto derivatives. The exchange has over 10 different altcoins that you can trade with tight spreads and low fees. 

FTX gives you more access to trading spots with its support for fiat and cryptocurrencies including Bitcoin, Litecoin, Ethereum, and a good selection of altcoins. 

The exchange caters to both institutional and retail traders with a wide range of tradable products and options. FTX also provides OTC service and mobile apps to help you stay updated with your account wherever you are. 

In this FTX.com review, we look at the exchange’s key features, tradable products, and other benefits you get when you trade at FTX.

About FTX Exchange

FTX Exchange was established in 2018 by Sam Bankman-Fried, the current CEO, and Gary Wang, the company’s CTO and former software engineer at Google. 

The two founders of FTX had in the previous year founded the Alameda Research Ltd, a major quantitative trading and crypto liquidity company. The exchange is owned and run by FTX Trading LTD. Currently, Alameda handles FTX’s OTC services and the maintenance of its deep order books. 

FTX is also backed by a network of several top cryptocurrency funds, which makes it a financially stable exchange to trade on.

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Key Features of FTX

FTX provides users with an impressive range of unique trading products including leveraged tokens. 

They are also known for having the lowest trading fees, tight spreads, excellent customer support, mobile apps, and Trading View charts. 

Below you can find the main features:

  • Fiat currency transfers in USD, GBP, EUR, CAD, and AUD. They also accept a wide range of credit cards. 
  • Generous leverage of up to 101x to help you maximize your profit potential
  • Fast and easy currency conversion from a single wallet
  • Deep liquidity and order books
  • Unlimited withdrawals
  • Liquidation funds
  • Group chats in more than 10 languages to help you learn and use their platform

Tokenized Stocks – Buy Stocks with Cryptocurrency

FTX Exchange also lists tokens equities such as TSLA, where you can buy Tesla stocks with cryptocurrencies. 

The exchange allows you to basically trade tokenized stocks the same way as other spot tokens with the same fees and GUI instructions. You need to be at least verified at KYC level 2 to trade tokenized stocks. 

Tokenized Stocks Trading View

It’s also worth pointing out that you cannot trade tokenized stocks if you reside in some banned jurisdictions such as the United States.

Trading Options on FTX 

FTX provides traders with an impressive range of tradable products. At present, users of the exchange can trade futures on more than 20 assets. You can trade more than 45 tokens with leverage. 

The major tradable products at FTX include: 

  • Futures: The exchange provides users with futures on more than 20 cryptocurrencies including Bitcoin, Ethereum, LINK, and BNB. They have Index Futures where you can trade different pairs on the cryptocurrency market including large-cap altcoins. FTX also offers oil contracts among others. 
  • Leveraged Tokens: The platform gives traders up to 101x leverage but by default, all accounts have a 10x maximum leverage as a safety precaution. 
  • MOVE Contracts: FTX offers MOVE contracts that work as futures and expire following the amount of BTC moves within a daily, weekly, or quarterly period of time. 
  • Options: You can also trade Bitcoin options with contracts on FTX cash that expires in USD. Traders either open CALL or PUT option contracts. 
  • Spot Markets: With spot markets, you can buy several popular cryptocurrencies and use them to trade in the usual traditional ways. Most of the popular cryptos such as Bitcoin, ETH, LINK, BNB, FTT, USDT, BCH, XAUT, and many more are available for trading at FTX.
  • Prediction Markets: FTX also provides prediction markets such as the US Presidential Elections where you could trade on candidates with contracts that expire when the results are announced.

Trading Fees

FTX.com has a 6 tier trading fee structure where the fees are declining according to the trading volume in the past 30 days. Maker fees start from 0.02% and taker fees from 0.07%. Market makers can join the exchange’s VIP program, which offers lower (even zero!) trading fees with dedicated account managers both on the trading and technical side.

FTX Trading Fees, Updated as of Jan 4, 2021 19:00 SGT

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Accounts and Limits

FTX offers three main types of accounts based on your Know Your Customer (KYC) level. 

For example, with a Tier 1 account, you can open an account with a withdrawal limit of $9,000 per day without any verification requirements. 

Tier 2 account holders have an unlimited cryptocurrency withdrawal after verification while Tier 3 account holders have unlimited fiat withdrawal through an OTC desk after KYC verification.

FTX Payment Methods

The exchange provides a wide range of fiat deposit and withdrawals in different currencies including EUR, USD, CAD, AUD, GBP, HKD, CHF, SGD, and ZAR. 

You can also deposit cryptos including BTC, ETH, BCH, BNB, LTC, FTT, BTMX, TRYB, and USD stable coins such as USDT, USDC, PAX, BUSD and HUSD. 

The exchange doesn’t charge fees when you deposit or withdraw cryptocurrencies as they handle all the blockchain fees. Fiat withdrawals of less than $10,000 cost $75. 

Wire transfers are normally processed on the evenings and USD transfers may take up to a week to be completed. Fiat transfers are handled through a third-party OTC desk. 

The platform also allows you to exchange other fiat currencies to USD.

FTX Security

FTX is a secure platform to trade on. The exchange stores users’ funds securely while trading on the platform. 

They also provide you with two-factor authentication as an extra layer of account security. The exchange has never suffered a security breach since it was established.

FTX Customer Support

FTX provides a dedicated Live Chat service on their website where you can access one of their customer representatives quickly to resolve any issue you may have. 

They have a detailed tutorial section and help desk to assist users to find answers to some of the most frequently asked questions. They also provide guides on API integrations and much more.

Final Words

FTX is one of the most advanced and professional crypto derivative exchanges today. 

They provide users with a wide range of tradable products including MOVE contracts, options, futures, prediction markets, and tokenized stocks among others. 

If you’re looking for a reliable and versatile platform to trade on cryptocurrency derivatives with guaranteed liquidity, high security, and an advanced trading interface, then FTX is your best option. 

Save 5% on trading fees with this link – Start trading now!

9.0 Awesome

FTX describes itself as a crypto derivatives exchange. FTX offers products including derivatives, options, volatility products and leveraged tokens. The team reportedly comes from Wall Street quant firms and tech companies including Jane Street, Optiver, Susquehanna, Facebook, and Google.

  • User interface 8
  • Trading Fees 10
  • Security 10
  • Trading Volume 8
  • User Ratings (1 Votes) 10
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