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.
| App | FTX |
|---|---|
| Website URL | ftx.com |
| Founded | 2019 |
| Intruments | Crypto |
| Headquarters | San Francisco |
| Languages | English, Japanese, Russian, Korean, Vietnamese |
| Trading Platforms | Web & Mobile Apps |
| Minimum Deposit | 0 USD |
| Maximum Leverage | 101x |
| Demo Account | No |
| Regulated | Yes |
| Pros | Cons |
|---|---|
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Introduction
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.
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.
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.
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.
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.
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.
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.
- Visit site
Go to the FTX website by using this link (5% fee discount with our link)
- Register
Enter your email address and a password
- Verify identity
Pass the necessary identity checks as prompted on your account dashboard
- 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.
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.
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
- Login to your account (don’t have one? Click here)
- Go to your wallet by clicking your email address in the top right hand corner and then selecting ‘Wallet’
- Choose which deposit method you would like to use and then select the ‘Deposit’ button shown for that asset
- 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.
| support@ftx.com | |
| Telegram (English) | t.me/FTX_Official |
| Telegram (Chinese) | t.me/FTX_Chinese_Official | Telegram (Viatnamese) | t.me/FTX_Official_Viet |
FTX FAQs
FTX App
To use the FTX app, use the instructions provided below.
Download FTX App for iPhone (IOS)
- Register on FTX
- Click ‘Add To Home Screen’ on your mobile browser
- Sign in and start trading!
Download FTX App for iPad (IOS)
- Register on FTX
- Click ‘Add To Home Screen” on your mobile browser
- Sign in and start trading!
Download FTX App for Android
- Register on FTX
- Go to the FTX app on the Google Play Store
- Click ‘Install’
- 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.
Top FTX Alternative: Binance (Claim Welcome Bonus)