FTX App Review

FTX is a cryptocurrency derivatives exchange incubated by Alameda Research who manage over $100M in digital assets. It is a unique exchange which offers a wide range of the world’s first Altcoin index future contracts. The company; FTX Trading LTD is incorporated in Antigua and Barbuda. The founder of FTX; Sam B-F, was a trader on Jane Street Capital’s international ETF desk.

General Information
AppFTX
Website URLftx.com
Founded2019
IntrumentsCrypto
HeadquartersSan Francisco
LanguagesEnglish, Japanese, Russian, Korean, Vietnamese
Trading PlatformsWeb & Mobile Apps
Minimum Deposit0 USD
Maximum Leverage101x
Demo AccountNo
RegulatedYes
FTX.com
Pros & Cons
ProsCons
  • Up to 101x Leverage
  • Low Fees
  • Multiple Deposit Methods
  • Leveraged Tokens
  • Stablecoin Settlement
  • Limited History

Introduction

FTX Tutorial Video

Features

Index Futures

FTX is going down in the history books for creating the world’s first index futures. These futures allow traders to capitalise on the rise or fall of a particular index in the form of a future contract. No need to worry about liquidity either – FTX has some of the deepest order books ever seen on a crypto exchange. You can trade these futures directly from the FTX platform.

FTX Exchange Index Futures

Trollbox

The FTX trollbox is a group chat built directly into the FTX web app. It allows traders to talk about the markets, ask questions and get to know other traders. We’ve seen this feature with other cryptocurrency exchanges including Poloniex & BitMEX.

FTX Trollbox

TradingView Charts

FTX has full support for TradingView charts allowing traders to use the powerful suite of charting tools on the FTX exchange. This is a nice feature and gives the exchange a real advantage over a lot of other exchanges which don’t offer it.

FTX TradingView Chart

Subaccounts

This feature allows traders to separate their funds into different accounts, all from one login. This is useful for those that like to isolate different positions with different balances. It’s also a nice way of having a fresh start without having to create a new account login.

FTX Subaccounts

Stablecoin Settlement

A lot of cryptocurrency derivatives exchanges only allow you to settle (close) your positions in Bitcoin which is unsuitable. Why? Because you may lose money if the price of Bitcoin falls after your position closes. This is where FTX is different. They allow you to settle your position in stablecoins (cryptocurrencies pegged to fiat currency like GBP, USD & EUR). This helps lock in profit and decreases the risk of having any capital in Bitcoin.

Circle USD Coin (Image by circle.com)

Leveraged Tokens

The FTX exchange allows you to instantly open leveraged trades on cryptocurrency tokens without any margin whatsoever. This paired with the high liquidity on the platform provides traders with a revolutionary new way of trading cryptocurrencies.

Leveraged EOS Trading on FTX.com

Trust & Safety

Is FTX safe?

In our opinion, FTX is a safe cryptocurrency trading platform. All accounts have 2 factor authentication as standard, the exchange is backed by several reputable companies and you can even set a separate withdrawal password.

Is FTX a scam?

No. There is no evidence or reports to suggest that the FTX exchange is a scam. There are many happy traders on FTX, you can speak with them in the FTX telegram channel.

Trading & Account

What can you trade on FTX?

Here is a full list of the instruments you can trade on FTX.com.

  • Bitcoin (BTC)
  • FTX Token (FTT)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • EOS (EOS)
  • Binance Coin (BNB)
  • Bitcoin Satoshi’s Vision (BSV)
  • Huobi Token (HT)
  • Algorand (ALGO)
  • Bitcoin Cash (BCH)
  • OKB (OKB)
  • Litecoin (LTC)
  • Tron (TRX)
  • XRP (XRP)
  • UNUS SED LEO (LEO)
  • Cryptocurrency Indices

Account Types

FTX offer 1 main standard account type which allows you to use all the features of the exchange.

Leverage

Similarly to other cryptocurrency derivatives exchanges, FTX offers something called ‘leverage’ on the trading platform. This allows you to trade with more than your balance and can increase profits & losses.

FTX is one of the only exchanges to offer over 100x leverage having pushed it to 101x meaning that you can trade with 101 times more than your balance on FTX.

How to register on FTX

Follow the steps below to register and start trading on FTX.

  1. Visit site

    Go to the FTX website by using this link (5% fee discount with our link)

  2. Register

    Enter your email address and a password

  3. Verify identity

    Pass the necessary identity checks as prompted on your account dashboard

  4. Fund account

    Deposit onto your account and start trading – it’s that simple!

Demo Account

FTX does not offer a demo account. However, there is no minimum deposit, so you can start trading on FTX with very little financial risk.

Register on FTX

Fees

FTX offers extremely low fees in comparison with other crypto trading platforms. The fees you pay are based on a tiered structure according to your trading volume. Essentially, the more you trade, the lower fees you pay. See the table below provided by FTX for more details on the fee structure.

For reference: maker fees are when you submit an order and taker fees are when you take an order from the books.

FTX Fee Schedule
FTX FeesTable

Deposit & Withdrawal

Deposit Methods

You can deposit using a variety of different methods on FTX. The majority are popular cryptocurrencies. See the full list of FTX deposit methods below.

  • USD Stablecoins (USD)
  • FTX Token (FTT)
  • Bitcoin (BTC)
  • Tether (USDT)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)

How to deposit on FTX

To deposit on FTX, follow the instructions below

  1. Login to your account (don’t have one? Click here)
  2. Go to your wallet by clicking your email address in the top right hand corner and then selecting ‘Wallet’
  3. Choose which deposit method you would like to use and then select the ‘Deposit’ button shown for that asset
  4. Copy the address and proceed with your deposit

Minimum Deposit

There is no minimum deposit on FTX.

Are there any deposit fees on FTX?

No, there are no deposit fees whatsoever on FTX.

Withdrawal Methods

The withdrawal methods on FTX are exactly the same as the deposit methods shown above.

How to withdraw from FTX?

To make a withdrawal from FTX, go to your wallet by selecting your email address in the top right hand corner of your dashboard and scrolling down to ‘Wallet’. Once your there, find the asset you wish to withdraw and proceed with your withdrawal.

Minimum Withdrawal

There is no minimum withdrawal on FTX.

Are there any withdrawal fees on FTX?

No, FTX do not charge any withdrawal fees. However, you may be charged a network fee depending on the asset you are withdrawing. A network fee is a fee which can be requested by the blockchain to make your transfer.

Bonuses & Promotions

FTX offer a promotion where by you can reduce your trading fees by increasing your trading volume and/or holding the exchange token (FTT). In addition, you can save 5% on your trading fees until January 1, 2020 by using this link to sign up.

Customer Support

The FTX customer support is comprehensive and fast. They offer a wide range of ways to get in touch if you have any issues.

FTX Support
Emailsupport@ftx.com
Telegram (English)t.me/FTX_Official
Telegram (Chinese)t.me/FTX_Chinese_Official
Telegram (Viatnamese)t.me/FTX_Official_Viet

FTX FAQs

What coins are on FTX?

FTX offers a wide range of cryptocurrencies to trade. See this section of our review for a full list.

Is there an FTX app?

Yes, FTX does have an app. Click here to get started.

When did FTX launch?

FTX launched on July 29th, 2019.

How long does KYC take on FTX?

The KYC verification on FTX takes 24 hours.

How long does a withdrawal take on FTX?

It depends on the size of your withdrawal. Small to medium size withdrawals are made automatically and large ones are done manually for extra security. Visit the FTX website for more information.

Does FTX have an insurance fund?

Yes, FTX does have an insurance fund.

Does FTX accept US citizens?

No, FTX is restricted for US citizens due to local laws.

How do you change the leverage on FTX?

To change your leverage on FTX, go to your account by going to > Account > Settings and then scrolling down to the ‘Margin’ section. Here you will find the option to edit your leverage.

Is FTX supported on TradingView?

Yes! You can view FTX charts on TradingView.

FTX App

To use the FTX app, use the instructions provided below.

Download FTX App for iPhone (IOS)

  1. Register on FTX
  2. Click ‘Add To Home Screen’ on your mobile browser
  3. Sign in and start trading!

Download FTX App for iPad (IOS)

  1. Register on FTX
  2. Click ‘Add To Home Screen” on your mobile browser
  3. Sign in and start trading!

Download FTX App for Android

  1. Register on FTX
  2. Go to the FTX app on the Google Play Store
  3. Click ‘Install’
  4. Sign in and start trading!

Conclusion

In conclusion, FTX is a brilliant cryptocurrency derivatives exchange with some really unique features. We’re especially impressed by the low fees and wide range of futures contracts available. It’s easy to get the hang of and gives traders an extra edge when trading the crypto markets. Sign up for FTX today with this link and get a 5% discount on your trading fees.

Leave a comment