FTX Review 1/10⭐

If you haven't tried FTX yet, stay way. They are bankrupt now.


NOTE: Customers from United States are not allowed to register. Find another broker here.

Trade With FTX Anywhere & Anytime.

CryptoLists.com

Background & Overview

 

This service is a relatively new cryptocurrency exchange, and its main appeal is its low trading fees. The site also features a large number of cryptocurrencies, and these include BTC, LTC, ETH, SUSHI, and TRX. You can make payments to the site using a number of fiat currencies. These include USD, AUD, EUR, GBP, and CAD. The company operates with a different site in the U.S. Visit FTX now!

 

Advantages at FTX

+FTX had low transaction costs.
+It had a large selection of cryptocurrencies.
+You could buy and sell NFTs from FTX before the bankruptcy in November, 2022.
+It had a built-in automated trading option. 

Disadvantages

-Their sister company, Alameda research, borred 9 billion USD from FTX.
-FTX invested much of their own and their customers money in their own token, FTT.
-FTX is relatively new, so some issues may be yet to be uncovered.
-This crypto exchange got a rather lengthy KYC process.
-FTX don't allow trading with a demo account.
-It was licensed in Bahamas, a jurisdiction that is better for the owners than for the customers.
-A few major cryptocurrencies are missing from the site, and these include Cardano and Polkadot. 

KYC & Registration

The registration process at FTX exchange is straightforward. To create an account, you should follow these basic and simple steps:

+Go to the FTX exchange homepage and click the 'REGISTER' button on the top right corner of the website.
+Fill in your email address and password, and your account will be ready.
+You can then go to the profile setting page and set up your 2FA. This can be done using Google Authenticator, SMS, or Authy.
In order to trade on the site, you will have to complete the KYC procedure. In order to verify your identity, you only have to send the following details:

Your email address
Your full legal name
Your date of birth
Your country of residence and region

After sending these details, you will be allowed to trade a maximum of $2000 every day. Also, due diligence may be required. With these details, you may also not be allowed to trade futures. For unlimited crypto and fiat withdrawals, you will be required to send the following additional details:

+Proof of address and phone jurisdiction.
+Description of your source of assets.
+Passport or similar government-issued identification.
+Facial verification.
+It is worth noting that the KYC procedure at FTX is a little more complicated when compared to some other crypto exchanges, but it's done in order to comply with laws and regulations from lots of different countries.

 

Leverage

▪ Rated at 1/10

There are currently four leveraged tokens for futures on FTX exchange, and these are:

BULL
(+3X)
BEAR (-3x)
Which can be traded with quite a few tokenized stocks, cryptocurrencies, tokenized indices and
HEDGE (-1X)
HALF

 

Costs

▪ Rated at 1/10

One of the main benefits of FTX is its low trading fees. The costs will vary depending on your 30-day trading volume, as you can see
below:

With a trading volume of less than $2 million, you will have to pay maker fees of 0.02% and taker fees of 0.07%.
With a trading volume of between $2 million and $5 million, you have to pay maker fees of 0.015% and taker fees of 0.06%.
With a trading volume of between $5 million and $10 million, you have to pay maker fees of 0.010% and taker fees of 0.055%.
With a trading volume of between $10 million and $25 million, you have to pay maker fees of 0.05% and taker fees of 0.05%.
With a trading volume of between $25 million and $50 million, you won't pay any maker fees but will have to pay 0.045% taker fees.
With 30-day trading volumes of over $50 million, you have to pay taker fees of 0.04%. At this rate, you will not need to pay any maker
fees.

 

Deposit Methods

▪ Rated at 1/10
Below you can see a list of the deposit methods available on FTX. Some of them may not be available in United States as it depends on regional regulation, but normally the most common payment methods are available across numerous countries.

You can use all types of crypto, along with VISA card, Mastercard and bank transfer. European customers can use SEPA bank transfers in order to get started quickly. In general, the selection of cryptocurrencies to use for deposits is amazing, and you can deposit almost any of the major cryptos to your FTX account. The only negative is that FTX got a limited amount of European payment methods and eWallets. Crypto Lists are still waiting for integration with Swish, Klarna, Trustly, iDeal, Skrill, Neteller and Paypal to name a few. Read more about the deposit methods at FTX here.

 

Platforms

▪ Rated at 1/10
The following platforms are supported by FTX:

FTX exchange has a user-friendly website, and all the major links are listed at the top of the homepage. You can also access major cryptos at FTX exchange using links on the top left corner of the site. These cryptocurrencies include BTC, ETH, SRM, and FTT. The site supports various languages, including Spanish, Italian, English, and Bahasa Indonesian.

 

Broker Support

▪ Rated at 1/10

The customer support team at FTX is quite good. The agents are highly responsive and seem eager to solve your issues. In order to access the support team, you will have to create an account on the site.

 

Other Names for FTX

FTX is or has also been known under the following names: FTX Trading Ltd, FTX Digital Markets Ltd.

 

FAQ

Where can I register for FTX?

The best way is to open an account here and if you have any further questions you can get in touch with their support directly.

Is FTX exchange a legitimate crypto exchange?

Yes, this website is legitimate and is incorporated in Antigua and Bermuda. Its headquarters are in The Bahamas. If you live in the USA, there is a different site for potential FTX users.

Which cryptocurrencies can I trade at FTX exchange?

This platform offers a large number of crypto pairs. Some of the FTX cryptocurrencies you can purchase on the site are BTC,
LTC, ETH, UNI, and SUSHI.

Is this website secure?

Yes, this website is secured with SSL encryption, so your personal details will never be leaked to hackers. Also, it uses two-factor
authentication to ensure that trader accounts are never hacked.

Which languages are supported by FTX?

There are quote a few language options available from FTX. Here is the full list: English, Simplified Chinese, Traditional Chinese, Turkish, Russian, Vietnamese, Spanish, Italian, Portuguese, French, Dutch and Indonesian.

What is the FTX coin?

The FTX coin is the backbone of the FTX ecosystem. It was developed to increase network effects and demand for FTT.

 

Instruments available

Find the full list of instruments available to trade at FTX here. Some of the top instruments at FTX include tokenized stocks, a wide range of cryptocurrency pairs, tokenized index trading and even currency trading. The top instruments listed on FTX for investing or trading are shown below.

▪ Rated at 1/10

Crypto Currencies

1INCH/USD, AAVE/USD, AGLD/USD, AKRO/USD, AKRO/USDT, ALCX/USD, ALEPH/USD, ALICE/USD, AMPL/USD, AMPL/USDT, SRM/USDT, ATOM/USDT, AUDIO/USD, AUDIO/USDT, AVAX/USD, AXS/USD, BAL/USD, BAL/USDT, BAND/USD, BAO/USD, BAR/USD, BAT/USD, BCH/BTC, BCH/USD, BCH/USDT, BICO/USD, BIT/USD, BLT/USD, BNB/BTC, BNB/USD, BNB/USDT, BOBA/USD, BTC/EUR, BTC/LINK, BTC/LTC, BTC/USD, BTC/USDT, C98/USD, CEL/USD, CHR/USD, CHZ/USD, CHZ/USDT, CITY/USD, CLV/USD, COIN/USD, COMP/USD, COMP/USDT, CRO/USD, CVC/USD, DAI/USD, DAWN/USD, DENT/USD, DFL/USD, DMM/USDT, DOGE/USD, DOT/BTC, DOT/USD, DOT/USDT, DYDX/USD, EDEN/USD, ENJ/USD, ENS/USD, ETC/USD, ETH/BRZ, ETH/BTC, ETH/EUR, ETH/USDT, EUR/USD, ETHW/EUR, ETHW/USDT, EURW/USD, EURT/EUR, EURT/USD, EURT/USDT, FIDA/USD, FRONT/USD, FRONT/USDT, FTM/USD, FTT/BTC, FTT/USD, FTT/USDT, FLOW/USD, GAL/USD, GALA/USD, GARI/USD, GENE/USD, GODS/USD, GOG/USD, GRT/USD, HGET/USD, HGET/USDT, HMT/USD, HNT/USD, HNT/USDT, HT/USD, HUM/USD, HXRO/USD, IMX/USD, INTER/USD, JET/USD, JOE/USD, JST/USD, KIN/USD, KNC/USD, KNC/USDT, KSHIB/USD, KSOS/USD, LEO/USD, LINA/USD, LINK/BTC, LINK/USD, LINK/USDT, LOOKS/USD, LRC/USD, LTC/BTC, LTC/USD, LTC/USDT, LUA/USD, LUA/USDT, LUNA/USD, MANA/USD, MATH/USD, MATIC/BTC, MATIC/USD, MBS/USD, MCB/USD, MEDIA/USD, MER/USD, MKR/USD, MKR/USDT, MNGO/USD, MOB/USD, MSOL/USD, MTA/USD, MTA/USDT, MTL/USD, NEXO/USD, ORBS/USD, OXT/USD, PAXG/USD, PAXG/USDT, PORT/USD, PRISM/USD, PROM/USD, PSG/USD, PTU/USD, PUNDIX/USD, QI/USD, RAMP/USD, REAL/USD, REEF/USD, RNDR/USD, RSR/USD, RUNE/USD, RUNE/USDT, SAND/USD, SHIB/USD, SKL/USD, SLND/USD, SLP/USD, SNX/USD, SNY/USD, SOL/BTC, SOL/USD, SOL/USDT, SOS/USD, SPELL/USD, SRM/USD, STARS/USD, STMX/USD, STORJ/USD, SUN/USD, SUSHI/BTC, SUSHI/USD, SUSHI/USDT, SWEAT/USD, SXP/USD, TLD/USD, TLRY/USD, TOMO/USD, TOMO/USDT, TRX/USD, TRX/USDT, TRU/USD, TRYB/USD, TULIP/USD, UBXT/USD, UNI/BTC, UNI/USD, UNI/USDT, USDT/USD, UST/USD, UST/USDT, VGX/USD, WAVES/USD, WBTC/BTC, WBTC/USD, WNDR/USD, XAUT/USD, XRP/USD, XRP/USDT, YFI/USD, YFI/USDT, YGG/USD, ZRX/USD

Currencies

AUD/USD, BRZ/USDT, CAD/USD, CHF/USD, GBP/USD, HKD/USD, SGD/USD, TRY/USD, ZAR/USD

Screenshots from FTX

Related coin? Learn more about FTT

The FTX Token is the coin that is used on FTX, so it's worth reading more about it on our review page.

›› Read our full FTX Token review here

FTX Token (FTT) is the backbone of the FTX ecosystem.

Related blockchain? Learn more about KCC Blockchain

KCC Blockchain is the blockchain that FTX relates to, so it's worth reading more about it below.

Kuchain has the necessary architecture for a decentralised public chain called KCC. The community of KCS developed its own chain with the assistance of Kucoin's management. They announced its own mainnet, KCC, in June 2021. It provides an alternative to the existing low-performance and more expensive public chains. The chain uses the Proof of Stake Authority(PoSA) to provide a fast, convenient, and more affordable blockchain...

›› Read our full KCC Blockchain review here

KCC aims to accelerate the flow of value around the world.

Read the FTX Terms and Conditions here.
FTX Review Published: Sunday, 6 Mar 2022 3:19 pm
Last Updated: Wednesday, 10 May 2023 1:35 pm