Pros
- A trade has its own program for cell phones.
- FTX has 230 sets to purchase and sell.
- The plan of the application and site is likewise extremely enormous.
Cons
- Try not to go on the web.
- I'm not intrigued.
FTX Review
16
·
Average
Rating
3.1
Crypto Exchanges
Description of FTX
What Is FTX?
FTX is a centralized crypto exchange created “by traders, for traders”, backed by significant trading companies in the industry, including Almeda Research, OTPP, Temasek, BlackRock, Coinbase Ventures and Sequoia Capital. As of 2022, the platform has over a million registered members, and the daily trading volume has reached billions of dollars. It supports over 300 cryptocurrencies for spot trading and offers products such as derivatives, options, prediction markets, leveraged tokens, tokenized stocks, OTC desk and volatility products.
Who Are the FTX Founders?
The Bahamas-based company was co-founded by Sam Bankman-Fried and Gary Wang. FTX claims to be “built by traders, for traders” and the team hails from reputable Wall Street quant firms and technology companies such as Jane Street, Optiver, Susquehanna, Facebook and Google.
Sam Bankman-Fried, more widely known as SBF in the industry, is an entrepreneur and investor. He studied at Massachusetts Institute of Technology (MIT) and graduated with a degree in physics and a minor in mathematics. Before creating FTX, he worked at Jane Street Capital and founded Alameda Research trading firm. As for Gary Wang, he serves as CTO of the company. Wang also graduated from MIT, and worked as a software engineer at Google building price aggregation systems, before teaming up with SBF to launch FTX in May 2019.
When Did FTX Launch?
The crypto derivatives trading platform was launched in May 2019.
Where Is FTX Located?
The company is incorporated in Antigua and Barbuda, headquartered in the Bahamas.
FTX Restricted Countries
US residents cannot trade on the global platform, but a separate FTX.US exchange is available for US customers, only with reduced functionality and fewer crypto listed.
In addition, the exchange doesn’t open corporate or individual accounts for clients located or registered in the United States of America, Cuba, Crimea and Sevastopol, Luhansk People's Republic, Donetsk People's Republic, Iran, Afghanistan, Syria, North Korea, or Antigua and Barbuda.
The platform does not register users from Ontario, Canada, and there may be potential limited restrictions in Hong Kong, Thailand, Malaysia, India and Canada. Non-professional investors from Hong Kong may not access certain products, Brazil users are not permitted to use derivative products and all Japanese users are serviced on FTX Japan.
What Coins Are Supported on FTX?
The platform supports 300+ cryptocurrencies, among them BTC, ETH, SOL, LTC, XRP, DOGE.
How Much Are FTX Fees?
FTX applies a tiered maker/taker fee structure, commissions vary depending on the trading volume for 30 days and are between 0% to 0.02% for maker fees, and 0% to 0.07% for taker fees.
Moreover, users may be charged up to 0.10% for withdrawals. Creation and redemption of leveraged tokens are charged 0.10% and daily management fees are 0.03% (FTX currently offers XRP, BNB, TRX, BTC, ETH, EOS, USDT, LEO leveraged tokens).
Is It Possible To Use Leverage or Margin Trading on FTX?
The crypto exchange offers advanced trading opportunities for both experienced traders and newbie investors: spot trading, margin trading, futures trading are available to users.
FTX supports up to 20X leverage. On the spot, qualified users have access to up to 10X markets leverage. Rates are determined by lenders, paid every hour. Also, FTX Futures offers cross-margin for a fairly wide range of coins.
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Pros
- The exchange has its own app for mobile devices.
- There are 230 trading pairs on FTX.
- The application's and website's designs are both stunning.
Cons
- Other languages haven't been completely translated on the site yet.
Pros
- It is an excellent indicator to have 230 trading pairs and a trading volume of approximately $ 2 billion.
- Has its own mobile application, the design of this application is also beautiful like a website.
Cons
- Although the exchange's website supports many languages, the site has not been fully translated into these languages
- More difficult to use compared to other exchanges
Pros
- Users can buy leveraged tokens like regular tokens in the spot market. However, they don't need to manage collateral, margin, liquidation prices, or anything else that a regular margin user should manage.
Cons
- There is a small commission. Apart from the standard trading fees, there are two types of fees with credit tokens. Creation and redemption fees are 0.10%; please note that you only pay if you create / redeem, not if you buy on the spot market or convert. Leveraged tokens are also charged a management fee of 0.03% per day. This is simply deducted from the net asset value of the leveraged tokens; You will not see an actual decrease in token balance or USD payment in your account.
Pros
- retains many ERC-20 features.
Cons
- I liked the project.
Pros
- introducing a change impact
- Stunning compensation.
- It's anything but an exhausting UI
Cons
- no online visits.
- I'm not finding any concerns.
Pros
- Its supported many trade.
- Its support mobile app.
Cons
- No cons
Pros
- Comfortable to use web and App interface with one click registration
- Instant Swap between coins with no fees and no withdrawl fees for top coins
- Facility to buy crypto with card to make it easy for new users to start using FTX immediately
- 2FA and password protected facility for trading and withdrawls
Cons
- Never had any issue while using FTX but without Kyc your withdrawl facility is limited
Pros
- presenting a change effect
- Amazing salary.
- It has a boring user interface
Cons
- no online visits.
- I am not discovering any worries.
Pros
- It has several trade pairs
- Enormous and deep liquidity
- It has both android and iOS mobile app
- It supports spot and leverage trade
- The exchange's Group are in several language
Cons
- KYC verification is required and so trading anonymously isn't possible
Pros
- I don't find any
Cons
- They have a site that doesn't function
- The platform has been labelled as scam due to their activities
Pros
- This exchange has a very low trading fee and the rate is very competitive in the market
- It has a dark user interface which allows easy navigation around the website.
- The exchange is listed with a lot of coins and support leverage trading of up to 100x
Cons
- I see no negative aspect to point out and this exchange
Pros
- This project is developed with modern features and great tools for getting tokens from different providers.
- The platform permits to find tokens rapidly and enter in different orders until choosing the right one.
- The exchange platform is up tod ate and really considered fro traders.
Cons
- It is frequently offering red flags, but it is because of the findings of the market.
Pros
- You have a large list of currencies and exchange pairs to trade.
- Includes a number of cryptocurrency trading models, such as OTC and futures markets.
- It is one of the few exchanges that offers trading leverage in ERC-20 tokens.
- Offers a series of benefits based on its native FTX token (FTT).
- It has a version for mobile devices.
- Allows the trading of shares, cryptocurrencies with Fiat currency.
Cons
- There is no online chat for customer service.
- The operation of the exchange can be complicated for operators with little experience.
Pros
- Top rated and the liquidity is much higher.
- Amazing appropriation.
- It has highly skilled team.
- Compared with other it has impressively low fees.
- Continually adding new markets.
Cons
- Currently I don't find any concern in using FTX.
Pros
- An enormous number of trading products.
- High trading volume.
- Right now situated top 10 exchanges on coinmarketcap.
- It has lowest trading fees.
- No record of hacks up until this point.
Cons
- Relatively new exchange.
- Some complain about customer support.
