The FTX exchange is an outstanding platform that is significant because it was created by the crypto traders for the crypto traders. This makes it a unique trading platform for the crypto traders and has shown significant growth in a short amount of time.
One of several outstanding aspects of this exchange, that make it a stand out option, include the wide array of leveraged tokens and indices available for the users.
However, these are not the only details you should know about if you intend on using this exchange. Having some detailed information about the crypto exchange through the brief FTX exchange review mentioned below can help you identify if this is a suitable exchange for you or not.
Here is what potential users of FTX should know.
FTX Review – Availability for Institutional Traders
There are numerous trading platforms in the market, however, they differ from one another on the basis of several factors. Every crypto exchange is not compatible with beginners and experts, while some are well-designed enough to cater to the needs of all kinds of traders.
FTX is one of the cryptocurrency exchanges that not only makes trading easy for new people but is also a suitable option for the institutional traders.
The FTX crypto exchange offers an OTC Desk option. This option is for the people who are expert traders and aim to purchase digital assets in high volume. Trading at a high volume through this option helps the traders to get the best fee rates that are even reduced.
Security and Safety Offered to Users
This concise FTX review focuses on all the major and important aspects of the exchange, which includes the safety and security it offers to the users. The security offered by an exchange is one of the most crucial factors that people look for while choosing a platform.
This is because stepping into the crypto space cannot be completely risk-free but it can be made safer to a significant extent if a secure platform is chosen. People hoping to use the FTX exchange should know that this is a powerful trading platform that offers versatility and security to the users.
It makes use of the high-end security systems mentioned below to offer utmost security to the users.
- Cold wallet storage
- Two-factor authentication
- Technologically advanced systems for web development and security
The availability of various trading products is an interesting and essential aspect that needs to be considered by the crypto traders. Among other things covered in this brief FTX exchange review, the trading products available on the exchange are also mentioned.
This is yet another major piece of information every potential user and especially crypto trader should be familiar with. This is one of the factors that can help you decide if using FTX for crypto trading is a good option for you or not.
The trading products available on the exchange include:
- Futures Market
- Leveraged Tokens
- Options Market
- Spot Markets Derivatives
- Tokenized Stocks
Fees on the Exchange
The FTX exchange is known to charge one of the lowest fees in the market, which makes it an outstanding option for a large audience. Since the exchange offers a wide range of tokens and indices, the fee charged to the users also depends on the market type and asset class chosen by the crypto traders.
The FTX exchange fees is based on the market maker and taker model, the details of which are mentioned below:
- Market maker fee of 0.02%
- Market taker fee of 0.05%
- No deposit fee
- No withdrawal fee
As a crypto trader you can get a discount on this fee as well depending on the VIP level of your account. It is also important to know that the fee charged by the exchange is related to the trading volume. This means as a crypto trader, the more you trade the lower fee you would have to pay.
Mobile and Desktop Support
The mobile and desktop support extended by an exchange is an equally crucial piece of information you should have as a crypto trader. The FTX exchange offers desktop support with user-friendly interface and in-built features. Its features include:
- Digital asset index futures
- Wide range of leveraged tokens
- Easier way to hedge
- Multiple advanced orders
The mobile application of the exchange is available for iOS and Android users. It has a clean chart and several in-built features and indicators that help people in trading while on the go and also in managing open positions and closing old ones.
The FTX exchange is a popular crypto platform and offers impressive features to the users. However, if you want to use this exchange to trade digital currencies you should first have some information about the services and features it offers to the users.