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3.5/5
High volume exchange with lots of liquidity
Trade crypto, futures, forex, and prediction markets
FTX is a rapidly growing cryptocurrency exchange that offers a wide range of crypto coins, along with features that are perfect for advanced traders. Find out more about the platform and how it works here.
By:
James Knight
James is the lead content editor for Invezz, covering the stock market, cryptocurrency, and macroeconomic markets. Outside of work, James is…
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Updated:
Mar 31, 2022
3.5/5Star rating
12 min read
High volume exchange with lots of liquidity
Trade crypto, futures, forex, and prediction markets
FTX is an innovative new cryptocurrency exchange offering industry-first derivatives, options, volatility products, and leveraged tokens.
The platform was built by traders for traders and is robust enough to handle high-volume professional traders, as one of the most liquid exchanges on the market today, while also being easy and intuitive to use for first-timers all the same.
Pros & Cons
Pros:
High volume exchange with lots of liquidity
Trade crypto, futures, forex, and prediction markets
Earn rewards by staking digital assets
Cons:
Low amount of leverage
Relatively new exchange, only launched in 2018
What can I do with FTX?
You can trade hundreds of assets and trading pairs. Nearly $16bn worth of trading takes place every day, so there are always plenty of other traders to match with.
Initially developed in 2018 with full functionality realised in 2019, FTX is registered in Antigua and Barbuda, with a growing presence in markets around the world, including the emirate of Dubai in the United Arab Emirates, where it was recently granted an operating license.
FTX cryptocurrencies and trading options
What cryptocurrencies can you trade on FTX?
There are a wide range of options available, from high volume coins, such as Bitcoin, Ethereum, and Litecoin to lesser known tokens like DAI. Below is a selection of the most popular coins available:
Bitcoin
Ethereum
Shiba Inu
Aave
Dogecoin
Polygon
Uniswap
Chainlink
Maker
Badger DAO Token
All FTX trading options
From forex to futures and leveraged tokens, FTX facilitates trade in a huge array of assets, as show in the table below:
FTX offers a limited amount of leverage, up to a limit of 1:20 and with the maximum allowable leverage even lower for large positions.
Please note that there are fees for using leverage and it also amplifies your underlying trading risk. Make sure you thoroughly understand how to use leverage before you start.
What are the deposit and withdrawal fees, limits, and speeds?
As with many high volume exchanges which incentivise trading, FTX’s deposit/withdrawal fee structure is tiered. Your fees decline the more active you are on the exchange.
Payment method
Deposit
Withdraw
Bank Transfer – min/max – fees – speed
Yes $100/None None 1-3 business days
Yes $100/None $25 if withdrawal is below $5,000 1-3 business days
FTX charges fixed maker and taker trading fees, which is a popular practice across the crypto exchange landscape.
Overall, the exchange’s median fee is in line with and in some cases even lower than its competitors. We used the median fee in the table below, as these will vary greatly depending on your monthly trading volume.
The minimum maker trade size for Bitcoin-Perp is 0.01. However, this only applies when you make more than 10 orders per hour smaller than 0.01, otherwise it is left up to the maker.
The FTX exchange is easily accessible via your favorite web browser as well as via the FTX Pro mobile trading app, which enables you to trade directly from your Apple or Android device.
Web
Android mobile device
iOS mobile device
Can I use FTX in my country?
The FTX exchange is available globally, including in the UK, France, Germany, and Spain, with the sole exceptions being residents of Cuba, Crimea and Sevastopol, Iran, Afghanistan, Syria, and North Korea due mainly to local regulations.
Is FTX available in my language?
FTX’s website is accessible in a total of 10 languages, including English, Spanish, Turkish, Mandarin.
How easy is it to use FTX?
The FTX exchange is lightning fast, with almost non-existent load times. The general layout and navigation menus leave something to be desired however, unless you are already familiar with using a crypto exchange.
The FTX Pro mobile app is similar in this respect, in that it allows you to perform basic trading functions in the blink of an eye, while the navigation takes a little getting used to. If you’ve used a crypto exchange before, you have nothing to worry about, as it will be similar to getting back on a bike after a bit of time away.
Key features
There is plenty to do and see on the FTX exchange. Here are a few features which stood out to us.
Prediction market
FTX offers direct access to a ‘betting pool’ of sorts, where you can bet on the result of future events, such as presidential elections. This is still only a small part of the large number of assets that FTX has available for trading, but we could see its popularity growing over time.
Volatility contracts
These fall under the futures trading category, but are open contracts on the expected volatility (or lack thereof) of an underlying asset such as Bitcoin. The price changes daily based on a number of market factors and is definitely not for the faint of heart.
FTT Token
FTX’s proprietary exchange token enables traders to earn bonuses, maker fee rebates, and more through staking the token.
Staking is a complicated concept, but its most basic definition is buying and setting aside tokens used to validate transactions made through the blockchain. Which is what FTX is rewarding when it comes to the FTT Token.
Upon registering with FTX, the exchange goes about a Know Your Client (KYC) verification process which contains several steps for both individual and institutional accounts.
The exchange also has Two Factor Authentications (2FA) in place, as an added layer of security beyond identity confirmation.
Am I and my cryptocurrency protected?
FTX distributes all its funds across multiple wallets in order to ensure a high level of security.
Despite all the precautions it does take, however, FTX operates primarily in good faith and without insurance or any type of financial compensation scheme.
Is FTX regulated?
FTX exchange is registered in Antigua and Barbuda, which is an offshore jurisdiction. Its U.S. based entity is a separate company that has both the MSB and MTL licenses for performing transactions with digital assets within the US.
It is also licensed and regulated in a host of other jurisdictions, including:
In Gibraltar by the Gibraltar Financial Services Commission
In Australia by the Australian Financial Services
In Cyprus by the Cyprus Securities and Exchange Commission
As a proprietary trader and swap dealer in the United Arab Emirates
In Switzerland by FINMA
Do I have to verify my account with FTX?
Yes, FTX adheres to a strict Know Your Client (KYC) policy and the exchange requires you to verify your email, legal name, date of birth, address, and passport or other similar government issued identification before granting unlimited trading, deposit, and withdrawal privileges.
Extra information
Educational resources
FTX has a dedicated “Learn” section on its website, which offers educational and guides on Leveraged Tokens, Options, other tradable assets, and a Quant Zone sub-section where users can build and share trading strategies.
Tools and charting
The FTX exchange is fairly rich, yet standard in the variety of tools it offers traders, with not much difference between it and other exchanges.
These include things like limit, stop, and trailing stop order types, a complete quote history, and over 100 trade indicators with the web version of the exchange.
Customer support
FTX has a myriad of support options no matter your communication style. There is a full support center on the website, a support ticket system, and failing both of those, a dedicated Telegram channel through which to get your inquiry heard.
Our verdict
FTX ranks highly among crypto exchanges available today. When we consider the young age of the FTX exchange, the growing list of markets it operates in, and high liquidity and usability of its platform, it has achieved a lot very quickly and we expect it to keep improving.
Adding to this, its trading fees are competitive and the number of instruments it makes available for trading is voluminous. There are plenty of features for traders, particularly advanced ones, to use already and that should grow in the years ahead.
We are hard-pressed to come up with any significant drawbacks to the exchange, other than to say that its interface could take some getting used to if you are a novice trader. Apart from this, FTX easily meets and even exceeds your trading needs.
FTX is still in part owned by its two co-founders: Sam Bankman-Fried and Gary Wang, along with other investors.
How does FTX make money?
FTX makes money on fixed maker and taker trading fees, as well as other fees, including when traders withdraw funds.
Do I have to pay tax on FTX profits?
Depending on the laws where you reside, you may have to pay taxes on your FTX profits. Please consult your local tax laws to determine what applies to you.
How do I delete my FTX account?
First make certain that all of your linked bank accounts and cards are removed and there are no funds remaining in your account. Once this has been done, contact customer support to formally request the closure of your account.
How can I short on FTX?
No, there is no short capability on FTX as of the time of this publication.
What if I forget my account password?
To recover your password, simply click on ‘Forgot Password?’ on the login page and enter your email. A link will be sent to the email associated with your account, which you can use to reset your password.
Can I transfer from my FTX account into my PayPal account?
No, there is no PayPal withdrawal option at this time.
What if FTX closes down while I have open trades?
All your open trades are saved in real time and you can view them once the platform is available again.
Can I access my full trading history on FTX?
Yes, simply log onto FTX and choose “Trade History” from the menu. There you will be able to view and download a complete history of your trading activity.
Can I pay in cryptocurrency with FTX?
Yes, crypto coins are a supported deposit method and it does not come with any associated fees either.
Does FTX offer bonuses?
Yes, FTX offers various bonuses from time to time, including for deposits, trading activity, and more. Check the FTX website for the latest promotions.
How do I transfer from Coinbase to FTX?
Choose the ‘send’ option in your crypto wallet, fill in all the required data and provide an external Crypto wallet address (FTX). You will then receive a QR code to complete the transaction.
Is FTX anonymous?
No, FTX adheres to Know Your Client (KYC) protocols and procedures and you will not be allowed to perform any trades prior to verifying your identity.
Does FTX have an integrated wallet?
Yes, FTX offers an integrated online wallet.
How do I withdraw from FTX?
To withdraw go to ftx.com/wallet and click “withdraw” under whatever currency you’d like to withdraw to and select the linked account you would like to make the withdrawal to.
Has FTX ever been hacked?
A rumour circulated online in September 2021 about the theft of bitcoins from a wallet of the platform, but this has not been confirmed. Apart from this alleged incident, FTX has never been hacked.
Fact-checking & references
Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.
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James is the lead content editor for Invezz, covering the stock market, cryptocurrency, and macroeconomic markets. Outside of work, James is an avid trader and golfer…
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