FTX is a powerful and versatile trading platform that works well for both first-timers and veterans. The platform is highly secure and is led by experienced professionals from Wall Street quant firms and tech companies. Tbh, FTX has everything you’ll ever need, including industry-first derivatives, options, volatility products, and leveraged tokens. Unfortunately, if you’re from the US, you won’t gain access to as many features and will need to compromise on a limited number of crypto pairs. Find out everything you need to know in this honest and comprehensive FTX review.
Just like other platforms, FTX tiers its fee structure for all futures and spot markets available. However, the best part is that the maker and taker fees are relatively lower. Even better, the fee structure is simple and easy to understand (unlike Binance’s). Here’s a quick overview:
Tier | 30-day Volume (USD) | Maker Fee | Taker Fee |
1 | 0 | 0.020% | 0.070% |
2 | > 2,000,000 | 0.015% | 0.060% |
3 | > 5,000,000 | 0.010% | 0.055% |
4 | > 10,000,000 | 0.005% | 0.050% |
5 | > 25,000,000 | 0 | 0.045% |
6 | > 50,000,000 | 0 | 0.040% |
Beyond this fee schedule, FTX supports a VIP Program for professional traders, and market makers can take advantage of its Backstop Liquidity Provider program. FTX also offers discounts for users who hold FTT Token (FTX’s native token). You can learn more about these discounts and limits here.
Other important details about fees include:
FTX (international) has a ton of products, including:
Sadly, FTX US doesn’t offer this much, but it still has a lot for its American customers, including:
FTX international is available in almost all countries except Cuba, Crimea and Sevastopol, Iran, Afghanistan, Syria, and North Korea. Additionally, other jurisdictions may have partial restrictions, including Hong Kong, Thailand, Malaysia, and Canada.
Crypto deposits and withdrawals incur no fees, the exception being Ethereum (ETH) and ERC-20s, or withdrawals that don’t meet specified minimum values. Unless you already have FTT (the native coin) staked, you’ll have to pay the network fee for ETH and ERC-20 tokens (could be fuckin’ costly). Account funding and withdrawals can be handled in fiat currencies via credit and debit card deposits, ACH transfers (for US customers), bank wire transfers from US and non-US banks, and, of course, cryptocurrencies.
Deposit Fees
Withdrawal Fees
Although the FTX team flexes a lot about how transparent they are, the team hasn’t made much of an attempt to shed light on their security protocols – so without being a whiny-ass reviewer, we would just assume that they do follow all the established security practices.
FTX has been in business since 2019. Since then, it has successfully avoided hacks or other malicious attacks. Other than this, the platform uses SSL encryption and two-factor authentication (2FA). FTX also supports IP and wallet whitelisting to further secure accounts. Lastly, FTX offers an insurance fund to protect customers from losses resulting from sudden, adverse market movements that could result in the rapid liquidation of multiple open positions on the exchange.
Led by experienced professionals from Wall Street quant firms and tech companies, FTX is a highly regulated cryptocurrency exchange that operates globally.
FTX doesn’t allow US citizens to trade on its platform. FTX.US, a separate trading platform not owned by FTX, operates in the United States.
FTX has its headquarters in Nassau, New Providence, Bahamas.
Well, FTX charges lower fees than Coinbase and many other platforms, and it also has some unique products that you can’t find elsewhere. Unlike Coinbase, FTX is built by traders, for traders.
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