There is a growing number of people who are looking to find new ways to earn extra cash beyond their nine to five jobs. With the changes happening in the world, most especially in the way the world of business operates, there is no denying that there is an abundance of ways as to how to grow crash at the comfort of your own home. In fact, it can even be brought anywhere, as long as you have your smartphone.
For the past few years, cryptocurrency has seen a sudden demand in terms of cryptocurrency trading platforms. People are looking for platforms that offer derivatives as well as future markets that include leverage. For experienced traders, it would be best to trade with margins. By having this, they have the chance to increase their possible profit exponentially.
Although, traders should be careful of crypto exchanges because they can come at a price. For beginning traders, they have to be mindful of tradings that provide leverage trading because though it can compound profits, it can also compound possible losses.
Since there are already a lot of crypto trading options, you will want to choose the best there is. One of the best-trading markets available is FTX. They are known as the leading innovative trading in the market. If you are looking to know more, we are giving you an FTX review to help you decide if it is worth your money.
Review Summary
When it comes to the leading crypto leverage platform, FTX is taking the lead among all others. They have partnered with Binance who is the largest crypto exchange known in the world. The FTX is a cryptocurrency that offers derivatives exchange. What truly makes FTX a cut above the rest is how traders built it. The developers know what they would typically look for in a trading market. With that in mind, they have created a truly powerful platform. This platform can easily cater to the needs of anyone who wishes to do trading.
With FTX, almost anyone can have the option to trade whether they are beginners, intermediate traders, and even professional trading firms. There is no denying how far the reach of FTX is in terms of cryptocurrency trading. More than that, the traders also have access to some of the most innovative and cutting-edge trading markets that offer options, derivatives, leveraged tokens, and volatility products.
The overall rating of FTX customer reviews is 2.4/5 stars. Over 60% of customers left negative reviews because of FTX’s poor customer service.
FTX Backgrounds
The ownership of the FTX falls to Sam Bankman-Fried. He is also the CEO and Almeda Researcxh’s co-founder. The research firm is known to be the best liquidity provider in the world. They provide FTX access to the industry’s leading order books, which is critical in the trade market.
Moreover, Alameda also commands over a total of $100 million in digital assets. More than that, they also do trading that can total anywhere from $600 million up to $1.5 billion dollars in a day that covers over a thousand products like derivatives that are offered by FTX exchange.
FTX Features
Since FTX also caters to almost every kind of trader, they offer a trading platform that is easy to use. Although, even if it is easy to use, they do not sacrifice the products they offer their traders. With their innovative products that anyone could easily buy and sell, traders can be assured that they will be able to earn the most that they can with FTX.
FTX understands that they need to provide great options to their traders. That is why they ensure that they will always be able to provide a cryptocurrency trading option that is both stable and secure in the derivatives market. Moreover, the offerings of FTX also include a user interface that can cater to any device.
Traders who choose to use FTX can easily access their cryptocurrency trading on their desktop or even in a mobile app. In addition, beginning traders can easily trade with FTX because there is no need for a KYC, and you can even withdraw as much as $2000 every day.
In terms of leverage on cryptocurrency trading pairs, you can get as much as 101x. Plus, you can work with leveraged tokens that are either long or short with leverage that can go as high as three times its leverage without any margin. They also have a Stablecoin settlement that utilizes a single-margin wallet. Those who pay a VIP trading fee can have discounts with a considerable volume and even use the FTT token. If that’s not enough, FTX even offers a 24/7 quotation for cryptocurrencies with the help of the OTC desk. Since it is critical for all kinds of traders, whether they are new or have been trading for a long time, they will need a responsive customer support team round the clock. Plus, they also have comprehensive guides and even an FAQ section that allows them to utilize FTX at all times. This kind of feature is especially important since some trades are not exactly made during office hours at all times. Â
| Exchange Name | FTX |
|---|---|
| Fiat Currency | Yes |
| Features | Share Options, Cryptos, Futures |
| Payment Type | Cryptocurrency |
| Trading Fees | Maker Rebate is 0.025%, Taker Fee is 0.075% |
| Non Supported Countries or Places | Depends on KYC |
Security
The cryptocurrency trading exchange FTX.com is incorporated with the likes of Barbuda and Antigua, and their headquarters is located in Hong Kong. As of today, the trading platform is not regulated. Additionally, customers from the United States are prohibited from using the services of FTX. Although, they can utilize the FTX.US, which is in partnership with the same cryptocurrency trading exchange. The partner entity can be used in the States, and it is also currently regulated.
The FTX utilizes a system that is similar to the system that banks use. There is no denying how much premium the FTX places in terms of security. The FTX understands how valuable the identity of their traders is. Not only do they protect all those, but they also safeguard the security of their funds, and personal information is all heavily guarded by the trading exchange.
What is truly astounding with the FTX is how long they have been in the industry and yet not once was there a reported security breach or even hacks in their system. They possess an outstandingly high standard of security that is seen in their cold wallet storage and even their two-factor authentication. All these are critical in providing a safe space for traders to trade high-value cryptocurrencies.
Comparison
What are the deposit methods of FTX?
The cryptocurrency trading exchange understands how its traders need as much convenience as they could. This is why the FTX offers a wide range of deposit method options to their traders, which can easily offer them alternatives to fund their accounts. They could fund their account through stablecoins, cryptocurrency, or even fiat currency. Additionally, they can also use a credit card as a payment option to purchase the cryptocurrency of their choice, which can be directly sourced from the platform of FTX.
Simplex, the crypto market leader, also works with FTX. This company had spearheaded the fiat onramps with the use of the available bank card like the Mastercard and VISA. What’s more, the traders can switch the stable coins to the platform, whether it is a TUSD, PAX, BUSD, USDC, HUSD, and USD.
What can traders expect from the user interface of the FTX?
Since traders built the FTX, they understand every single thing that their fellow traders could possibly need. It is known to be designed with a user-friendly interface that can cater to any kind of trader. Whether you are just starting in cryptocurrency or if you have been trading for most of your life, FTX is the option for you.
The arrangement of the navigation of FTX covers quick access to the various derivatives of trading products, positions, wallets to check your funds in the FTX, and even the pending orders you may have. On to the center of the interface is the trading chart, which is connected to the TradingView. The charts will reveal indicators, trading features, chart pattern overlays, and drawing tools.
On the bottom of the window, traders can see the order book, which can aid you in analyzing the volume as opposed to the bid and the prices. The appearance of the FTX is simple, and users can easily populate entry prices by choosing the order book. The trade volume could even be adjusted simply by using the slider, which will help in calculating the amount you will need. Additionally, it will even provide you with a display of the liquidation prices you will need to trade effectively.
What are the FTX Futures?
The FTX futures are agreements to trade an asset based on a predefined value. It is supported by perpetual futures that range over a total of 20 cryptocurrencies. These cryptocurrencies include the likes of BNB, BTC, and LINK, just to name a few. Plus, they also include trade exchange tokens, regional baskets, and even privacy tokens. In fact, there are even oil contracts that will expire to the WTI oil spot price.
What are the FTX MOVE Contracts?
The MOVE contracts offered by the FTX provide traders with an opportunity to trade. The trading will significantly depend on the movement of the price of a particular cryptocurrency. What’s great about this FTX product is how minimal the risk is to the traders. In fact, the movement of cryptocurrency prices can move in any direction.
These are the kind of futures that will expire based on the BTC raw amount. The changes can be quite volatile, and time frames can be quite short. It can either be on a daily basis, even a weekly or monthly basis. Some traders consider the quarterly option. What primarily determines the volatility of the overall BTC is decided on a specified period of time. The feature that the FTX MOVE contract can offer its traders is truly attractive to anyone who wishes to grow their funds.
How do the FTX deposits and withdrawals work?
As opposed to other cryptocurrency trading exchanges, the FTX does not require its traders to pay any kind of deposit or withdrawal fee. The FTX understands how much its traders would want their maximum profit, and this is made possible by this feature. Although, the withdrawal of assets in terms of cryptocurrency will happen within the blockchain network fee. This particular fee is adjusted automatically depending on the conditions set by the market and is adjusted accordingly.
How can I utilize the mobile trading app of FTX?
It’s truly amazing how you can have the option of trading right in your pocket. FTX offers a mobile trading app that can work with both iOS and Android devices. In fact, the mobile ask comes in highly recommended at a 4.7-star rating. More than that, the FTX is even downloaded by more than 10 000 users.
What traders can see in the desktop version of the FTX can also be found in their mobile app. They can expect a full-screen chart that allows them to see all the fundamental chart indicators, orders, and positions they could possibly need. They can even change their orders, look into the market information and even check their trade history.
Which countries allow the use of FTX?
The FTX is used as a cryptocurrency trading exchange in a number of countries all over the world. Countries like the United States, United Kingdom, New Zealand, and Australia are just some of the countries that allow the trading of Bitcoin and many other assets that have leverage. Plus, they even offer translations for users who speak Korean, Japanese, and Simplified and Traditional Chinese. There is no denying how accommodating FTX is to a variety of traders.
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In this FTX Review, you have seen how well FTX works and how much it can offer to traders like you. In fact, this is just the tip of the iceberg as to what they can provide you with. By providing the latest and most innovative futures trading products, you can easily grow your money. Whether you are new in the industry of cryptocurrency exchange or if you have been in the trading industry for a period of time, you can use this cryptocurrency trading exchange with so much ease.
