The FTX exchange is one of the popular cryptocurrency exchanges that you should know about if you are interested in buying or trading crypto. One of the most highlighting factors about the exchange is that it was created for the crypto traders by the crypto traders.
This is a derivatives trading platform that was established in 2019 but it has quickly taken the crypto market by storm. There are several reasons for the success, popularity and growth of the exchange, which you should know about.
As a new user of the FTX crypto exchange it is important for you to know the prominent features of the platform so you can make an informed decision.
FTX Exchange Offers One of the Highest Leverages
Crypto platforms that support leverage trading are often preferred by crypto traders, especially those who are experienced. Several crypto exchanges support leverage trading but not all of them are suitable to be used.
Leverage trading basically allows people to borrow funds from a broker and then place bigger trades. Even though it allows opportunity to make big profits it also increases the chances for users to suffer from big losses. Therefore, crypto traders who opt for leverage trading need to be careful about the platform they choose and should have proper information about it before they start.
This brief FTX exchange review also talks about leverage trading as it supports it. However, this platform not only supports leverage trading but offers one of the highest leverages which is up to 101x.
Security and Safety of the Exchange
Safety and security offered by a platform is one of the topmost concern that every potential user has before they choose an exchange. This is because the crypto space is quite volatile and the risks cannot be completely eliminated. However, choosing a platform that prioritizes the safety of users can mitigate the risks to a great extent.
Therefore, if you are looking for a secure platform the FTX exchange can be a suitable option for you. This platform takes the security of user funds and accounts very seriously, which is why it makes use of advanced security systems, some of which are mentioned below.
- Cold wallet storage
- Top-of-the-line technology for web development
- Two-factor authentication system
- Manual auditing
Fees Structure of the Exchange
Just like the security of an exchange is an important factor, so is the fees charged by an exchange. Every platform charges a fee of some kind, however, the amount can vary from one platform to another.
The kind of fee charged by an exchange can make quite the difference for the users, especially those who are new. If you are a beginner, you should also know that the fee structure of every exchange is not guaranteed to be transparent and fair.
However, FTX is known to charge one of the lowest fees in the market. If you want to use this exchange then you should know the details of the FTX exchange fees mentioned below.
- 0.02% trading fee for market makers
- 0.03% fee for maintenance (for leveraged tokens)
- 0.05% trading fee for market takers
- 0.10% fee for creation and redemption (for leveraged tokens)
- No fee for deposits
- No fee for withdrawals
Trading Products on FTX
Another highlighting factor of the FTX exchange is that the users can get access to several digital currencies, trading products and markets. The different trading products available on the exchange also offer several distinctive features.
The trading products available on the cryptocurrency exchange are mentioned below.
- Futures Market
- Leveraged Tokens
- Options Market
- Spot Markets Derivatives
- Tokenized Stocks
As mentioned above, the FTX crypto exchange offers access to numerous assets to the users. If you are interested in using the platform then you need to know the crypto assets and other products that are supported by the exchange.
This exchange supports a variety of tokens, stocks, crypto indices, fiat and digital currencies. The crypto assets supported by the platform include:
The crypto indices are also supported by the platform, some of which are mentioned below.
- Altcoin index
- Midcap index
- Exchange Token index
Analysis Tools on the Exchange
The FTX exchange is a versatile crypto exchange that supports both fundamental and technical analysis. This exchange also comes with advanced tools for data analyses, which is one of the most helpful things that crypto traders can look for.
Here are the tools available on the platform.
- Checking order history
- Creation and importing of indicators and custom tools
- In-built charting analysis tools
- In-built indicators
- Price alerts
The FTX exchange is a well-known crypto exchange and offers several impressive features to the users. This is why it is a suitable exchange to be used for crypto trading. As a potential user, you should have the detailed information mentioned above.