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FTX Review 1/10⭐



NOTE! THIS SITE HAS CLOSED DOWN

This crypto site unfortunately is soon or has already closed down and does not accept new customers. Do not proceed setting up an account there.
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NOTE: Customers from United States are not allowed to trade or register at this broker. We would recommend a different broker at our toplist here.

FTX was created in 2019 and is one of the newer cryptocurrency exchanges, but also one of the major ones. It was known for its low trading fees and the large number of crypto pairs. The company was incorporated in Antigua and Bermuda and has its headquarters in the Bahamas. It had more than a million users when the company went bankrupt in November, 2022.

Tips! Check out this broker instead

We want to make you aware of the fact that FTX has a relatively low rating and/or our suggestion is to avoid them. There are other trading platforms with better rating that we think would be more suitable. Do not miss checking out ›› Binance that has got the rating 9.27 of 10 and classed as one of the best platforms.Questions? Livechat here! You can otherwise also register directly here.

If you have any questions, do not hesitate to contact us directly via Livechat here or drop us an email here.


If you haven't tried FTX yet, stay way. They are bankrupt now.


NOTE: Customers from United States are not allowed to register. Find another broker here.

Trade With FTX Anywhere & Anytime.

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Background & Overview

 

FTX QR code
to scan with phone

This service is a relatively new cryptocurrency exchange, and its main appeal is its low trading fees. The site also features a large number of cryptocurrencies, and these include BTC, LTC, ETH, SUSHI, and TRX. You can make payments to the site using a number of fiat currencies. These include USD, AUD, EUR, GBP, and CAD. The company operates with a different site in the U.S. Visit FTX now!

 

Advantages at FTX

+FTX had low transaction costs.
+It had a large selection of cryptocurrencies.
+You could buy and sell NFTs from FTX before the bankruptcy in November, 2022.
+It had a built-in automated trading option. 

Disadvantages

-Their sister company, Alameda research, borred 9 billion USD from FTX.
-FTX invested much of their own and their customers money in their own token, FTT.
-FTX is relatively new, so some issues may be yet to be uncovered.
-This crypto exchange got a rather lengthy KYC process.
-FTX don't allow trading with a demo account.
-It was licensed in Bahamas, a jurisdiction that is better for the owners than for the customers.
-A few major cryptocurrencies are missing from the site, and these include Cardano and Polkadot. 

KYC & Registration

The registration process at FTX exchange is straightforward. To create an account, you should follow these basic and simple steps:

+Go to the FTX exchange homepage and click the 'REGISTER' button on the top right corner of the website.
+Fill in your email address and password, and your account will be ready.
+You can then go to the profile setting page and set up your 2FA. This can be done using Google Authenticator, SMS, or Authy.
In order to trade on the site, you will have to complete the KYC procedure. In order to verify your identity, you only have to send the following details:

Your email address
Your full legal name
Your date of birth
Your country of residence and region

After sending these details, you will be allowed to trade a maximum of $2000 every day. Also, due diligence may be required. With these details, you may also not be allowed to trade futures. For unlimited crypto and fiat withdrawals, you will be required to send the following additional details:

+Proof of address and phone jurisdiction.
+Description of your source of assets.
+Passport or similar government-issued identification.
+Facial verification.
+It is worth noting that the KYC procedure at FTX is a little more complicated when compared to some other crypto exchanges, but it's done in order to comply with laws and regulations from lots of different countries.

 

Leverage

▪ Rated at 1/10

There are currently four leveraged tokens for futures on FTX exchange, and these are:

BULL
(+3X)
BEAR (-3x)
Which can be traded with quite a few tokenized stocks, cryptocurrencies, tokenized indices and
HEDGE (-1X)
HALF

 

Costs

▪ Rated at 1/10

One of the main benefits of FTX is its low trading fees. The costs will vary depending on your 30-day trading volume, as you can see
below:

With a trading volume of less than $2 million, you will have to pay maker fees of 0.02% and taker fees of 0.07%.
With a trading volume of between $2 million and $5 million, you have to pay maker fees of 0.015% and taker fees of 0.06%.
With a trading volume of between $5 million and $10 million, you have to pay maker fees of 0.010% and taker fees of 0.055%.
With a trading volume of between $10 million and $25 million, you have to pay maker fees of 0.05% and taker fees of 0.05%.
With a trading volume of between $25 million and $50 million, you won't pay any maker fees but will have to pay 0.045% taker fees.
With 30-day trading volumes of over $50 million, you have to pay taker fees of 0.04%. At this rate, you will not need to pay any maker
fees.

 

Deposit Methods

▪ Rated at 1/10
Below you can see a list of the deposit methods available on FTX. Some of them may not be available in United States as it depends on regional regulation, but normally the most common payment methods are available across numerous countries.

You can use all types of crypto, along with VISA card, Mastercard and bank transfer. European customers can use SEPA bank transfers in order to get started quickly. In general, the selection of cryptocurrencies to use for deposits is amazing, and you can deposit almost any of the major cryptos to your FTX account. The only negative is that FTX got a limited amount of European payment methods and eWallets. Crypto Lists are still waiting for integration with Swish, Klarna, Trustly, iDeal, Skrill, Neteller and Paypal to name a few. Read more about the deposit methods at FTX here.

 

Platforms

▪ Rated at 1/10
The following platforms are supported by FTX:


FTX QR code
to scan with phone

FTX exchange has a user-friendly website, and all the major links are listed at the top of the homepage. You can also access major cryptos at FTX exchange using links on the top left corner of the site. These cryptocurrencies include BTC, ETH, SRM, and FTT. The site supports various languages, including Spanish, Italian, English, and Bahasa Indonesian.

 

Broker Support

▪ Rated at 1/10

The customer support team at FTX is quite good. The agents are highly responsive and seem eager to solve your issues. In order to access the support team, you will have to create an account on the site.

 

Other Names for FTX

FTX is or has also been known under the following names: FTX Trading Ltd, FTX Digital Markets Ltd.

 

FAQ

Where can I register for FTX?

The best way is to open an account here and if you have any further questions you can get in touch with their support directly.

Is FTX exchange a legitimate crypto exchange?

Yes, this website is legitimate and is incorporated in Antigua and Bermuda. Its headquarters are in The Bahamas. If you live in the USA, there is a different site for potential FTX users.

Which cryptocurrencies can I trade at FTX exchange?

This platform offers a large number of crypto pairs. Some of the FTX cryptocurrencies you can purchase on the site are BTC,
LTC, ETH, UNI, and SUSHI.

Is this website secure?

Yes, this website is secured with SSL encryption, so your personal details will never be leaked to hackers. Also, it uses two-factor
authentication to ensure that trader accounts are never hacked.

Which languages are supported by FTX?

There are quote a few language options available from FTX. Here is the full list: English, Simplified Chinese, Traditional Chinese, Turkish, Russian, Vietnamese, Spanish, Italian, Portuguese, French, Dutch and Indonesian.

What is the FTX coin?

The FTX coin is the backbone of the FTX ecosystem. It was developed to increase network effects and demand for FTT.

 

Instruments available

Find the full list of instruments available to trade at FTX here. Some of the top instruments at FTX include tokenized stocks, a wide range of cryptocurrency pairs, tokenized index trading and even currency trading. The top instruments listed on FTX for investing or trading are shown below.

▪ Rated at 1/10

Crypto Currencies

1INCH/USD, AAVE/USD, AGLD/USD, AKRO/USD, AKRO/USDT, ALCX/USD, ALEPH/USD, ALICE/USD, AMPL/USD, AMPL/USDT, SRM/USDT, ATOM/USDT, AUDIO/USD, AUDIO/USDT, AVAX/USD, AXS/USD, BAL/USD, BAL/USDT, BAND/USD, BAO/USD, BAR/USD, BAT/USD, BCH/BTC, BCH/USD, BCH/USDT, BICO/USD, BIT/USD, BLT/USD, BNB/BTC, BNB/USD, BNB/USDT, BOBA/USD, BTC/EUR, BTC/LINK, BTC/LTC, BTC/USD, BTC/USDT, C98/USD, CEL/USD, CHR/USD, CHZ/USD, CHZ/USDT, CITY/USD, CLV/USD, COIN/USD, COMP/USD, COMP/USDT, CRO/USD, CVC/USD, DAI/USD, DAWN/USD, DENT/USD, DFL/USD, DMM/USDT, DOGE/USD, DOT/BTC, DOT/USD, DOT/USDT, DYDX/USD, EDEN/USD, ENJ/USD, ENS/USD, ETC/USD, ETH/BRZ, ETH/BTC, ETH/EUR, ETH/USDT, EUR/USD, ETHW/EUR, ETHW/USDT, EURW/USD, EURT/EUR, EURT/USD, EURT/USDT, FIDA/USD, FRONT/USD, FRONT/USDT, FTM/USD, FTT/BTC, FTT/USD, FTT/USDT, FLOW/USD, GAL/USD, GALA/USD, GARI/USD, GENE/USD, GODS/USD, GOG/USD, GRT/USD, HGET/USD, HGET/USDT, HMT/USD, HNT/USD, HNT/USDT, HT/USD, HUM/USD, HXRO/USD, IMX/USD, INTER/USD, JET/USD, JOE/USD, JST/USD, KIN/USD, KNC/USD, KNC/USDT, KSHIB/USD, KSOS/USD, LEO/USD, LINA/USD, LINK/BTC, LINK/USD, LINK/USDT, LOOKS/USD, LRC/USD, LTC/BTC, LTC/USD, LTC/USDT, LUA/USD, LUA/USDT, LUNA/USD, MANA/USD, MATH/USD, MATIC/BTC, MATIC/USD, MBS/USD, MCB/USD, MEDIA/USD, MER/USD, MKR/USD, MKR/USDT, MNGO/USD, MOB/USD, MSOL/USD, MTA/USD, MTA/USDT, MTL/USD, NEXO/USD, ORBS/USD, OXT/USD, PAXG/USD, PAXG/USDT, PORT/USD, PRISM/USD, PROM/USD, PSG/USD, PTU/USD, PUNDIX/USD, QI/USD, RAMP/USD, REAL/USD, REEF/USD, RNDR/USD, RSR/USD, RUNE/USD, RUNE/USDT, SAND/USD, SHIB/USD, SKL/USD, SLND/USD, SLP/USD, SNX/USD, SNY/USD, SOL/BTC, SOL/USD, SOL/USDT, SOS/USD, SPELL/USD, SRM/USD, STARS/USD, STMX/USD, STORJ/USD, SUN/USD, SUSHI/BTC, SUSHI/USD, SUSHI/USDT, SWEAT/USD, SXP/USD, TLD/USD, TLRY/USD, TOMO/USD, TOMO/USDT, TRX/USD, TRX/USDT, TRU/USD, TRYB/USD, TULIP/USD, UBXT/USD, UNI/BTC, UNI/USD, UNI/USDT, USDT/USD, UST/USD, UST/USDT, VGX/USD, WAVES/USD, WBTC/BTC, WBTC/USD, WNDR/USD, XAUT/USD, XRP/USD, XRP/USDT, YFI/USD, YFI/USDT, YGG/USD, ZRX/USD

Currencies

AUD/USD, BRZ/USDT, CAD/USD, CHF/USD, GBP/USD, HKD/USD, SGD/USD, TRY/USD, ZAR/USD

Screenshots from FTX

Click for larger image

Related coin? Learn more about FTT

The FTX Token is the coin that is used on FTX, so it's worth reading more about it on our review page.

›› Read our full FTX Token review here
FTX Token (FTT) is the backbone of the FTX ecosystem.

NOTE! THIS SITE HAS CLOSED DOWN

This crypto site unfortunately is soon or has already closed down and does not accept new customers. Do not proceed setting up an account there.
›› Please choose another suitable brand from the best crypto site toplist.

Related blockchain? Learn more about KCC Blockchain

KCC Blockchain is the blockchain that FTX relates to, so it's worth reading more about it below.

Kuchain has the necessary architecture for a decentralised public chain called KCC. The community of KCS developed its own chain with the assistance of Kucoin's management. They announced its own mainnet, KCC, in June 2021. It provides an alternative to the existing low-performance and more expensive public chains. The chain uses the Proof of Stake Authority(PoSA) to provide a fast, convenient, and more affordable blockchain...

›› Read our full KCC Blockchain review here
KCC aims to accelerate the flow of value around the world.

Read the FTX Terms and Conditions here.
FTX Review Published: Sunday, 6 Mar 2022 3:19 pm
Last Updated: Wednesday, 10 May 2023 1:35 pm
Livechat about FTX
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Do not hesitate to contact us if you have questions about FTX. Our experts are happy to answer your questions, help you find the right option or just point in the right direction.
FTX Newsflash
    US prosectutors dig into Democrat donations by FTXUS prosectutors dig into Democrat donations by FTX
    Sunday, 18 Dec 2022 8:31 am
    Sam Bankman-Fried's ongoing legal woes took a new turn as authorities in the United States began to analyze his large donations to the Democratic party in the country...
    Read the full newsflash


    Sam Bankman-Fried of FTX is arrested in the BahamasSam Bankman-Fried of FTX is arrested in the Bahamas
    Tuesday, 13 Dec 2022 7:56 am
    SBF, as he's known in industry circles was arrested on Monday night eastern US time. It's likely he'll be extradited to the United States as part of an ongoing investigation into the practices of his FTX exchange and the Alameda trading platform he co-founded. Crypto Lists will keep you updated as we learn more about this turn of events. If you're looking to get involved with a reputable platform with authenticated licenses, try Coinbase now!...
    Read the full newsflash


    OKX exec reveals desperate call from SBF asking for bail outOKX exec reveals desperate call from SBF asking for bail out
    Tuesday, 22 Nov 2022 2:30 pm
    With Sam Bankman-Freid (SBF) emerging as public enemy no1 in this current bear market, a current top executive from FTX rival OKX has revealed two desperate phone calls he received from 'SBF'. Lennix Lai, director of financial markets said "The very first call that we received from Sam he said everything's under control, but they might need cash, one to two billion dollars max in short-term credit, in exchange for FTT value or equity in FTX." Want to try a lightning-fast exchange with 100+ deposit methods? Sign up for OKX here...
    Read the full newsflash


    How to get all your money back from FTX?How to get all your money back from FTX?
    Friday, 18 Nov 2022 11:35 pm
    This evening, Do Not Pay CEO Joshua Browder (Twitter) gave some helpful information to Bloomberg Business viewers. Joshua said that if you made a direct deposit into FTX the last 60 days and ask for a refund, the bank cannot say no. So, if you made a bank transfer to FTX recently - make sure to contact your bank at your earliest convenience. A full refund can be issued from your FTX deposit...
    Read the full newsflash


    Solana DeFi is down 97% following FTX tumultSolana DeFi is down 97% following FTX tumult
    Tuesday, 15 Nov 2022 6:20 pm
    The Solana DeFi projects are some of the most hurt by the collapse and tumult around FTX. DeFi apps on the Solana Network were valued above 10 billion during the peak 1 year ago. Today, the value is 97% lower, standing at just over 300M USD. However, some projects such as Serum (SRM), are up 65% for the day. So perhaps we are going to see a turnaround for the related Solana coins and tokens within a short timeframe? Or will they continue down for a few weeks, months or years? What do you think? Trade Solana and other digital asset from a crypto broker of your choice...
    Read the full newsflash


    Does FTX have over one million creditors?Does FTX have over one million creditors?
    Tuesday, 15 Nov 2022 1:45 pm
    Word coming out today suggests that bankrupt broker FTX may have over 1m creditors. In news coming from Reuters, then Bahamas-based exchange outlined a "severe liquidity crisis" in its bankruptcy filings. And, additionally to this it's come to light that the current number of one hundred thousand creditors may increase by ten times. This is because FTX requested that multiple group companies file one consolidated list of creditors, rather than separate ones. Tricky times ahead. Do you want to trade with a secure and highly regulated exchange? Sign up for Coinbase here...
    Read the full newsflash


    BlockFi's message to customers: 'Doing all we can'BlockFi's message to customers: 'Doing all we can'
    Monday, 14 Nov 2022 9:05 pm
    Word coming out today suggests that bankrupt broker FTX may have over 1m creditors. In news coming from Reuters, then Bahamas-based exchange outlined a "severe liquidity crisis" in its bankruptcy filings. And, additionally to this it's come to light that the current number of one hundred thousand creditors may increase by ten times. This is because FTX requested that multiple group companies file one consolidated list of creditors, rather than separate ones. Tricky times ahead. Do you want to trade with a secure and highly regulated exchange? Sign up for Coinbase here...
    Read the full newsflash


    Kraken has frozen multiple Alameda & FTX related accountsKraken has frozen multiple Alameda & FTX related accounts
    Sunday, 13 Nov 2022 4:50 pm
    It seems like a criminal court case is coming closer for the people behind FTX. Just now, Kraken announced that they have frozen all accounts linked to the hack on FTX. It is specific addresses...
    Read the full newsflash


    Binance in talks with US regulator over FTX dealBinance in talks with US regulator over FTX deal
    Friday, 11 Nov 2022 9:30 am
    After reportedly pulling out of the deal to acquire FTX, Binance, are speaking with US authorities about next steps. The US Department of Justice (DOJ) and other financial regulators wish to discuss the matter further, given the recent turmoil and its effects on the wider space. We'll keep you updated as more news comes out. Do you want to start your crypto journey? Sign up for Binance here...
    Read the full newsflash


    Breaking: Binance Abandon The FTX Deal - Walks AwayBreaking: Binance Abandon The FTX Deal - Walks Away
    Wednesday, 9 Nov 2022 9:07 pm
    The world's biggest crypto exchange, Binance, reveal that they will walk away from the FTX deal. Expect a highly volatile week for crypto going forward, with millions of Solana coins being unstaked tomorrow. There might be lots of liquidations coming and the risk is high for most cryptocurrencies. Solana has moved from 23 to 13 USD today, and with a huge amount of additional unstaked coins coming to the market - further downfall could be possible...
    Read the full newsflash

 
Founders of FTX
This company was co-founded by Sam Bankman-Fried and Gary Wang. He used to be a trader before starting FTX. At the moment Sam Bankman-Fried serves as the CEO of the company.
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