On November 11th 2022, FTX faced a liquidity problem and filed for bankruptcy. The following content was written prior to this fiasco – sympathies to anyone who had funds there.
FTX Exchange (FTT token) is a one of the largest leveraged crypto trading exchange platforms in the world and has partnered with THE largest exchange in the world, Binance.
FTX offers derivative trading and was built for traders by Alameda Research, one of the largest trading companies and liquidity providers in cryptocurrency.
- Currently the tradeable assets include futures, spot, stocks, leveraged tokens, options, fiat currencies and crypto index futures – referred to as Shitcoin index
- Lending is also possible, where you can specify the APR that you are prepared to lend at for the purpose of margin trading – a matching borrower seals the deal.
- Trading Fee discounts for holding the native FTT token
- Long or short 3x leveraged tokens – not recommended unless you are a seasoned pro.
Competitive tiered trading fees:
Discount for FTT holders
In addition to the low standard fees, there are further discounts on trading fees if the user holds the native FTT token.
Here you can see below the tiered discounts currently on offer.
For leveraged tokens there is a creation and redemption charge of 0.10% and daily management fees of 0.03%.
For all markets except BTC and ETH perps, using leverage of 50X increases trading fees by 0.02%. 100X leverage and above increases trading fees by 0.03%. There are no additional fees for leverage on the BTC and ETH perps.
Funding Your FTX Account
You can fund your FTX account using a bank transfer or credit card.
The following currencies are accepted for funding accounts:
Please note that there is a fee for withdrawing fiat under $10,000 of $75.
How Can I Get 5% Off All Trading Fees?
To open an account with FTX and receive a 5% discount on all trading fees please help to support this channel by clicking through our affiliate link here or below – much appreciated!
CLICK BELOW TO RECEIVE 5% OFF ALL YOUR TRADING FEES WITH FTX!!
Is There A Requirement For KYC?
KYC (Know your customer – in other words verify your ID) is required for fiat deposits and withdrawals and there are three tiers shown below.
The process of KYC is very simple and quick to complete.
Verification of KYC from FTX is usually completed within a couple of hours.
Is There A Mobile Trading App?
FTX has a mobile trading app available on both Android and IOS to enable users to trade from anywhere in the world that a signal or wifi connection is available. The app’s functionality is similar to the desktop version. Traders can enter or exit trades, check market information or fund their accounts. FTX also acquired Blockfolio in August 2020, which is an app for tracking and monitoring your crypto holdings.
What About Help and Assistance?
Support is available by submitting a support ticket, contact by email, telegram communities or Twitter. Many different languages are supported.
Does FTX Offer Referral Rewards?
When you sign up for an account with FTX, you will be assigned a unique URL through which you will receive 25% of a new user’s trading fees, plus the new user will receive 5% discount on all their trades.
If you stake the native FTT, you can increase the fraction of trading fees that you receive.
Can You Trade With FTX From Anywhere In The World?
Currently FTX does NOT provide or accommodate corporate or personal accounts from the following countries:
- United States of America
- North Korea
Residents of the United States of America may use the American version of FTX here https://ftx.us/
At the time of writing all the information presented here is up to date, however you should visit the site here to get more up to date information.