The FTX exchange can be one of the top trading platforms you come across because it is one of the most prominent ones in the market. It is known to offer some of the most impressive features to the users. It is a derivatives crypto trading platform and one of its most unique attributes is that it was created by the crypto traders for crypto traders. This can indicate that the platform has been designed while keeping in mind all the details and features necessary for the traders.
Despite the fact that it is world-renowned and designed quite distinctively, you need to be sure that the exchange is what you are looking for. You can only be sure about the suitability of any exchange by taking a look at the features and services it offers.
A proper research is crucial and beneficial as it can help you get a good picture of how much any particular trading platform suits your needs and matches your trading criteria. This is why, it is important for you to know the details mentioned in this brief FTX exchange review.
FTX Exchange Supports Leverage Trading
If you are interested in leverage trading then this can be a suitable exchange for you. Among several other exchanges, FTX platform also supports leverage trading.
This is a popular trading strategy that poses high risks to the users. Leverage trading allows traders to borrow funds from the brokers and open bigger trading positions (depending on how much leverage they opt for). The bigger trading positions can result in high profits or high losses, which depends on how the trade goes. Even though there are several trading platforms that support leverage trading, the leverage ratio they offer is different.
Therefore, if you want to trade with leverage you need to be careful regarding the platform you choose. The FTX crypto exchange offers one of the highest leverages in the market, which is up to 101x.
Is it a Secure Exchange?
The safety of your funds, accounts and information should be your top priority, regardless of the platform you choose. The FTX exchange is one of the top platforms in the world but you need to be sure that it takes your security seriously before you use it.
Choosing a secure exchange can help you overcome and even avoid several obstacles and risks, which can otherwise complicate your overall experience of buying or trading crypto.
FTX is known to be a versatile and powerful trading platform, that takes the security of the users very seriously. It implements a few high-end security systems that make the platform suitable for professionals and novice traders alike.
Some of the security protocols mentioned in this FTX exchange review are:
- Two-factor authentication (2FA)
- Leading-edge trading platform
- Cold wallet storage
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One of the biggest selling points of this trading platform is that it does not allow users to trade a single asset class. Instead, it is a versatile platform that offers a wide range of asset classes and digital assets that the users can trade. This opens the platform to a vast audience, who are interested in various asset classes.
The various trading products available on the FTX exchange are:
- Leveraged Tokens
- Futures Market
- Spot Markets Derivatives
- Options Market
- Tokenized Stocks
How Much Fee to be Paid?
The FTX exchange fees is yet another major factor why a vast audience is interested in using it and also why this platform stands out among its competition. Before choosing a platform you need to take a look at its fee structure and opt for the one that is low and transparent.
The fee charged by FTX is one of the lowest in the market and is free of any kind of hidden or additional charges. Here are the details of the fee charged by this trading platform.
- 02% trading fee for market makers
- 05% trading fee for market takers
- No fee for deposits
- No fee for withdrawals
For leveraged tokens:
- 03% daily maintenance fee
- 10% creation and redemption fee
OTC Desk Option
The FTX exchange is not only ideal for new traders but it also caters the needs of the institutional traders. Professional traders who want to purchase very high volume of digital currencies can do so. Thanks to the OTC desk option offered by the platform.
With the help of this feature, the exchange provides the liquidity that is required. For the completion of the transactions and the fee is also zero.
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As a new crypto trader, you may come across numerous options, one of which can be the FTX exchange. This platform is impressive and offers some of the best features. However, to ensure that you make the right decision, you need to know the details mentioned above.