FTX Exchange Review

FTX is one of the fastest-growing and popular cryptocurrency exchanges. Traders have designed the exchange for traders with access to many products. 

FTX logo

Our Partner

Crypto Exchange

AT A GLANCE

  • NFT marketplace
  • Exceptional mobile app
  • Low fee payment processor
  • Outstanding customer reviews
Overall Rating
4/5

Fastest Growing Crypto & NFT Exchange

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Pros & Cons

Pros

  • Supports over 130 cryptocurrencies
  • Mobile App on Android and iOS
  • Low fees
  • 1% of all net fees go to charity

Cons

  • Some features are available only to US customers
  • High withdrawal fees
  • Have you heard the buzz about cryptocurrency?
  • Are you interested in diversifying your financial holdings beyond stocks and bonds?
  • Are you ready to invest in the future of finance? 

Suppose you answered yes to any of these questions. In that case, consider investing in cryptocurrency soon. FTX is the perfect exchange to begin or continue your investments in crypto.

Cryptocurrencies are booming. Projections suggest a market cap of $4.49 Billion by 2030. This rapid growth presented a tremendous economic opportunity to anyone willing to invest their money into cryptocurrencies. 

FTX is a crypto broker or crypto exchange. They handle the complex needs of professional cryptocurrency traders. FTX is user-friendly to make it easy for newcomers to cryptocurrency. 

FTX allows you to trade a wide variety of assets, including derivatives, options, volatility, products, leveraged tokens, as well as traditional crypto coins. You can stake your crypto tokens to earn rewards.    

There are many crypto exchanges available for traders, and to help you find the right one, I have done a thorough FTX exchange review. In this FTX exchange review, I will go over the pros and cons, FTX’s services, the cost of use, and any promotional offers FTX is currently offering. 

Keep reading to find out if FTX is the best exchange for supporting you and your cryptocurrency investments.  

FTX icon

Quick Summary

Account Minimum: $0

Trading Fees: 0%-0.4%

Promotion: 5% off trading fees

About FTX Exchange

FTX is a relatively new exchange that has skyrocketed in popularity because of its security, user-friendly interface, and access to advanced trading options.

Incorporated in Antigua and Barbuda, FTX has its headquarters in the Bahamas.  Sam Bankman-Fried founded the crypto exchange in 2018 after graduating from MIT and working as a trader at Jane Street Capital. 

The FTX team has extensive experience coding at high-profile social media companies or trading at renowned firms. It is important to note that this FTX exchange review is evaluating both FTX and FTX.US.

FTX.US has fewer features because of the strict regulation of the US market. 

FTX Services

FTX offers a wide range of services, including several that are not common among crypto brokers.  FTX gives its users the ability to exchange cryptocurrencies for one another.

Once you have logged in, you can select any crypto or fiat currencies that FTX supports and exchange them for another one. FTX supports over 130 crypto and ten different fiat currencies  

One of FTX’s outstanding services is its app. Many crypto broker apps can be challenging to navigate, but that is not the case with FTX Pro. It has a user-friendly interface. The 4.6-star rating on the Google Play store attests to that. 

One of the unique features of FTX is staking. FTX allows you to stake coins like SOl, RAY, and SRM and earn rewards similar to interest at a bank. But when you stake a coin, you cannot sell or transfer it. You can earn up to 20% APY by staking on FTX. 

Non-fungible tokens (NFTs) have become wildly popular in several years. FTX is one of the few crypto brokers that offers an NFT marketplace. Users can buy and sell NFTs in the marketplace using any fiat or cryptocurrencies supported by the exchange.

FTX also offers a proprietary payment platform: FTX Pay. This payment processor allows you to get paid in any crypto of fiat currencies supported by FTX. FTX pay features fast processing and low fees. 

FTX has advanced market options that are more commonly associated with the traditional stock market. On FTX, you can buy futures, leveraged tokens, volatility, and forex.

Many crypto brokers do not support these types of investments.  

Fee Breakdown

Like all exchanges, FTX charges fees to use their services. Fortunately, FTX does not charge deposit fees for either crypto or fiat currencies.

Trading Fees

FTX charges both the maker and taker fees for all trades. We calculated the percentage based on the volume of transactions (in USD) a user makes in 30 days.

Maker fees range from 0.02% to 0%. and taker fees from 0.07% to 0.04%. We can find here a comprehensive breakdown.  There is a discount for users who hold FTX’s native cryptocurrency, FTT.

Traders can receive between a 3% and 60% discount depending on the amount of FTT they hold. 

FTX Fiat Withdrawal Fees

FTX charges a $75 withdrawal fee if the transaction is below $10,000. There is a 0.3%+R$10 fee for BRL. Other fiat currencies do not incur a withdrawal fee.

FTX Crypto Withdrawal Fees

FTX charges withdrawal fees on BTC, ETH, and ERC-20. If the withdrawal is less than 0.01 BTC, the user pays blockchain fees. If the amount is higher than 0.01 BTC, the withdrawal fee is waived.

FTX allows its users one free BTC withdrawal per day.  For ETH and ERC-20 withdrawals, the user pays all blockchain fees. However, free withdrawals are available if the user has FTT staked on the exchange.

But we can withdraw all other cryptocurrencies for free. 

FTX Bonus Offer

FTX currently has an appealing sign-up offer. Depending on the amount you deposit into your account, you could receive between $25-400! For the $400 bonus, you must deposit at least $20,000.

You can find more information about it here

Who is FTX Exchange Best For?

I would recommend FTX for experienced traders because of their more advanced trading options and the cost of withdrawals. The fee structure of FTX favors investors with larger bankrolls, and new traders will have to pay higher fees to trade and withdraw their currency if trading with smaller amounts. 

Compare to Similar Exchanges

COINBASE
coinbase logo
  • Trading Fees: 1.49% per trade
  • Minimum Deposit: $0
  • Promotion: Offers $10 free bitcoin to new users
BINANCE
binance logo
  • Trading Fees: .1% per trade
  • Minimum Deposit: $0
  • Promotion: Up to a $45 bonus (qualifying deposit)
ETORO
eToro Logo
  • Trading Fees: .12% - .24%
  • Minimum Deposit: $500
  • Promotion: Up to a $250 bonus (qualifying deposit)

Should I Use FTX Exchange?

To summarize this FTX Exchange review, FTX is a feature-rich cryptocurrency broker. It is has a friendly user interface that makes it appealing for both newcomers and experienced traders.

It offers all the traditional services available on a cryptocurrency exchange.  It also provides advanced trading options, an NFT marketplace, and a payment platform.

FTX offers staking options for various cryptocurrencies that allow you to earn rewards for holding coins on the FTX exchange. FTX also has a native token, FTT.  

If you are ready to take your cryptocurrency trading seriously, FTX is the right exchange for you. Plus, you can take advantage of their deposit bonus if you join now. 

Don’t let the cryptocurrency revolution pass you by. Click here to open an account.

FTX FAQ’s

Can you trust FTX.us?

Yes. FTX.us follows all the rules and regulations required by the US government. It is a safe and reputable exchange. 

How long do withdrawals take on FTX Exchange?

Most withdrawals on FTX are complete within a few minutes. However, larger withdrawals can take several hours. The time to complete a withdrawal depends on the number of blockchain confirmations required by the cryptocurrency. 

How does FTX.us make money?

FTX.us makes money trading and withdrawal fees.

Is FTX Exchange insured?

The FTX Exchange is not subject to the FDIC.

FTX

FTX is an easy to use crypto exchange where you can buy, sell, and store Bitcoin, Ethereum and other cryptocurrencies and digital assets such as NFTs.

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  • Editor Rating
  • Rated 4 stars
  • 80%

  • FTX Exchange
  • Reviewed by:
  • Published on:
  • Last modified: February 12, 2022


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