This FTX review is brief but it focuses on some of the most crucial aspects of the platform such as its trading fee, level of security and a lot more. These details have been focused on by this brief review because this is essential information that can help people in deciding whether the platform is according to their needs and criteria or not.
FTX is not the only platform in the market. There are a lot of other platforms competing with it. If you are new to the crypto space and you lack relevant and important knowledge, then it can be challenging and even stressful for you to determine which exchange to choose and which crypto asset to invest in.
On the other hand, the more you know about platforms such as FTX, the easier it can be for you to see if it is what you are looking for or not. Therefore, if you want to start trading crypto assets and you want to choose FTX then make sure you take a look at the FTX fees and other such details before you choose.
Here are some of the major details jotted down for the novice parties.
FTX Review – What to Know About the Exchange
The FTX exchange is a derivatives trading exchange that was created by crypto traders for crypto traders. Thanks to the high-end features it offers and the wide range of leveraged tokens and indices it supports, it has not only made a name for itself but stands out among its competitors.
It is an advanced trading platform that is powerful and versatile. It is also a well-known exchange among the crypto traders due to the fact that it has been designed to cater the needs of new and experienced traders alike.
There are several outstanding features it offers to the users. Some of these features are mentioned below in detail and can help you determine if it is a suitable exchange for you to use or not.
One of the most outstanding aspect of the exchange mentioned in this FTX review is the fact that it offers support to a multitude of stocks, crypto indices, tokens and fiat and digital currencies.
Some of the available or supported cryptocurrencies include:
Some of the indices supported by the exchange that you should know about are:
- Midcap Index
- Altcoin Index
- Exchange Token Index
Level of Security Offered
One of the questions every potential user should ask is, “is FTX safe?”. There is a high significance of choosing a platform that offers utmost security to the users. If a platform offers low trading fee, high liquidity and other major benefits but does not offer security then using such an exchange can jeopardize your safety, funds and information.
Therefore, to make sure the safety risks you do face are minimized, it is crucial that you opt for a safe exchange. This FTX review highlights the fact that it is one of the safest platforms in the market. It makes use of several leading-edge security protocols to ensure that the website, trading platform and funds and accounts of the users are never compromised.
Here are some of the security systems used by FTX.
- Cold wallet storage
- Latest technologies in web security and development
- Two-factor authentication (2FA) security
Trading Fee Details
Taking a look at the FTX fees before opting for the platform is crucial and most helpful. Every crypto trading platform charges a fee that you will have to pay. However, you cannot be sure about the transparency of the fee structure offered.
Therefore, this FTX review highlights the details of the fee you will have to pay if you opt for the exchange. This can help you identify how suitable and safe the exchange is for you to use.
FTX is undoubtedly one of the best platforms and is also known to be one of the cheapest crypto exchanges in the market. Here are the details.
- Trading fee for market makers: 0.02%
- Trading fee for market takers: 0.05%
- Redemption fee for leveraged tokens: 0.10%
- Daily maintenance fee for leveraged tokens: 0.03%
- No deposit fee
- No withdrawal fee
Tools for Analysis
This FTX review further highlights that the trading platform offers support to technical as well as fundamental analysis of all supported crypto pairs. There are several in-built features that give an edge to the crypto traders using the platform.
- Charting analysis tools
- Conditional orders
- Creating and importing indicators and custom tools
- Details of all closed trading positions on your account
- Limit orders
- Order history
- Price alerts
- Several in-built indicators
- Various news services
The FTX review mentions some of the most important and highlighting aspects of the exchange that can help you in determining whether the platform suits your needs or not. As a potential user of the exchange make sure you know the features mentioned above.