An FTX review can be quite beneficial for people who are new to crypto trading and are looking for suitable exchanges. FTX can be one of the best options for new and experienced traders. However, novice traders need to thoroughly explore the features of the exchange and then determine if it is a suitable exchange for them or not.
The FTX exchange is one of the topmost platforms in the market and is quite popular among crypto traders all over the world. One of the most unique aspects of the trading platform is that it was created by crypto traders for crypto traders.
However, this is not the only impressive feature of the exchange. Other details such as FTX fees, safety and more are also what grabs the attention of a vast audience. If you are looking for all possible options then you should also consider FTX and get to know the details mentioned below.
FTX Review on Leverage Trading
FTX is a derivatives trading platform that supports more than a single type of asset class. It also supports leverage trading, which is one of the most popular forms of trading and a vast audience interested in trading look for it.
Leveraged trading is highly risky and requires the interested parties to fully understand the concept and choose a suitable exchange. This form of trading allows the traders to borrow funds from the brokers. The borrowed funds are called leverage and enable the traders to use the funds and open bigger trading positions.
Since the trading positions are bigger, any profits and losses are also huge. As a new trader opting for leverage trading, you should know that profits are never guaranteed while trading, regardless of the method or exchange you choose. It is also important to know that FTX offers one of the highest leverages, which is 101x.
Safety and Security
People who are new to crypto investing or trading should always ask “is FTX safe?” as it is an extremely important question. This is applicable to any crypto exchange that you opt for because choosing a secure exchange is crucial.
As a new crypto trader, you can come across numerous safety risks that might not be eliminated completely but can be reduced to a great extent.
Therefore, this FTX review specifies that it is one of the safest crypto exchanges in the market and implements some of the best security protocols as mentioned below.
- Two-factor authentication (2FA) security
- Use of cold crypto wallets
- Advanced trading platform
Variety of Trading Products
The FTX exchange is one of the most versatile and powerful trading platforms in the market that offers support to a variety of trading products. As a user of the FTX exchange, you can access a variety of digital currencies, markets and trading products that are mentioned below in this FTX review.
- Futures Market
- Leveraged Tokens
- Options Market
- Spot Market Derivatives
- Tokenized Stocks
Fees Structure of the Exchange
The FTX fees are yet another major and important aspect that needs to be discussed while determining whether the exchange is suitable for them to use or not.
FTX is one of the best crypto trading platforms and is known to be one of the lowest fees crypto exchanges in the market. It also offers a few discounts to the users.
The trading fees of the platform are based on the market maker and taker fee model, the details of which are mentioned below.
- 0.02% trading fee for market makers
- 0.05% trading fee for market takers
- 0.03% maintenance fee for leveraged tokens
- 0.10% creation and redemption fee for leveraged tokens
- No fees for deposits
- No fees for withdrawals
Supported Currencies
As mentioned above in this FTX review there are several types of asset classes that are supported by the crypto exchange. This makes it widely accessible to a vast audience that is interested in different types of assets.
It also speaks volumes about the versatility of the platform. If you are interested in using this platform then you need about the assets this platform supports so you can decide whether it is something you want to opt for or not.
Some of the crypto indices supported by the platform are:
- Exchange Token Index
- Altcoin Index
- Midcap Index
Some of the digital currencies supported by the exchange are:
- Ripple
- Ethereum
- Bitcoin
- Litecoin
OTC Desk for Institutional Traders
Apart from knowing details like FTX fees and safety, you should also know how it caters for the needs of the institutional traders. The OTC desk option is for institutional traders. This option is most suitable for traders who want to buy digital currencies in high volume at low or zero fees.
Conclusion!
FTX is a popular name and if you are new to the crypto space you are likely to be inclined toward it. However, it is better to choose the exchange after learning about some of its high-end features available. As a potential user of the exchange, you should know the details mentioned above in this FTX review.
