Dipo Olowookere
Navigating the complex cryptocurrency trading world requires a reliable, secure, and feature-rich platform. FTX Exchange, one of the leading players in this arena, offers an extensive range of functionalities.
Traders Union revealed the FTX exchange review. This FTX exchange review offers a deeper understanding of the platform, its features, strengths, and areas of improvement.
Advantages and disadvantages of trading with FTX
TU experts have analyzed and reviewed the FTX and listed down the advantages and disadvantages of trading with it. Here are a few:
Advantages:
- Accessible and Swift Registration: Traders Union experts highlight that the FTX exchange provides a user-friendly registration process that is easy to navigate. This streamlined process ensures quick access to the platform, enabling users to start their trading journey promptly.
- Availability of Over 70 Assets: FTX exchange boasts a wide range of tradable assets. With over 70 options available, traders can choose from various cryptocurrencies, providing greater flexibility and opportunity to diversify their trading portfolio.
- Low Fees: FTX exchange is renowned for its low trading fees, which can be even more reduced when using the platform’s own cryptocurrency, FTT. This cost-effective feature attracts many traders who are interested in maximizing their potential returns.
- Profitable Referral Program: FTX offers a beneficial referral program that could be highly rewarding for its users. By referring new users to the platform, traders can enjoy generous rates, potentially augmenting their income.
- Advanced Functionalities of Available Orders: With FTX, traders get to use a platform that offers extended functionalities of available orders. This includes a wide range of advanced order types, enabling more sophisticated trading strategies.
Disadvantages:
- Restrictions Without Verification: Traders Union experts highlight that the FTX exchange imposes significant restrictions on non-verified accounts. This means traders who prefer to trade anonymously or without undergoing verification may face certain limitations.
- Limited Legal Information About the Company: The official website of FTX exchange lacks comprehensive legal information about the company. This limited disclosure might deter potential users who seek transparency when choosing a trading platform.
Analysis of the main features of this crypto exchange
Upon analyzing the platform, Traders Union has attributed an overall score of 2.75. The evaluation includes a score of 2.54 for order execution, 2.96 for investment instruments, 2.6 for withdrawal speed, 2.9 for customer support, 2.38 for various instruments, and 3.12 for the trading platform.
Trading conditions for FTX users
According to Traders Union, FTX offers a proprietary trading platform with a standard account type. The account can be replenished via bank cards, cryptocurrency wallets, or e-wallets, with a minimum deposit of USD 50. The platform offers a leverage of up to 1:100 and an assortment of trading instruments, including cryptocurrencies, currencies, futures, and stocks. Mobile trading, an affiliate program, and various contests and bonuses are also available.
FTX commissions & fees
As per Traders Union experts, FTX employs a tiered fee system where fees depend on your trading volume over the past 30 days. There are six levels, with the maker/taker commission at the first level being 0.020/0.070%, and at the sixth level (for a trading volume over $50,000,000), it’s 0.00/0.040%. Furthermore, staking with the exchange’s coin can further reduce the commission, offering up to a 60% discount to FTT holders on futures and spot markets.
TU experts have published the CEX.io review on its official website. To read its detailed and insightful review, please visit the official website of the Traders Union.
Conclusion
In conclusion, the FTX exchange has made its mark in the crypto trading world with its various features, low fees, and extensive range of tradable assets. However, like any platform, it has its limitations, and a potential user should weigh them carefully before investing. With this comprehensive review, we hope to have provided you with valuable insights to help you make an informed decision about using FTX. We encourage you to visit the Traders Union’s official website for more comprehensive reviews and insights.
