The FTX exchange is one of the top crypto trading platforms in the world. It stands out among its competition for a number of reasons. One of its distinctive factors is that this platform was created by crypto traders for crypto traders. This adds more value to the platform for crypto traders around the world.
As an inexperienced trader, you might come across several obstacles and challenges if you do not have the relevant information or any prior experience. However, the FTX crypto exchange has been designed to cater the needs of all crypto traders, which is why it has taken the crypto market by storm.
However, as a new trader you still need to be well-informed about the features and services offered by the exchange. Knowing these details can help you get a proper idea of how suitable this exchange is according to your trading requirements, criteria and more.
If you are a new crypto trader and want to know if this is a good trading platform for you then you need to know the details mentioned below.
FTX Exchange is Versatile
Founded in 2019, FTX is now one of the largest and most prominent cryptocurrency exchanges in the world. It is a derivatives trading platform that is also known to be powerful and versatile.
One of several reasons why it stands out among other trading platforms is that it does not only supports the trading of digital assets but also supports trading of a multitude of leveraged tokens, indices and more.
This versatility grabs the attention of a large audience that is not only focused on cryptocurrencies but other trading products as well. It also makes it more accessible to a vast number of traders, which adds to its significance.
FTX platform supports several trading products, that are mentioned below in this exchange review.
- Futures Market
- Leveraged Tokens
- Options Market
- Spot Markets Derivatives
- Tokenized Stocks
Digital Assets and Indices Supported
As a beginner, you should opt for an exchange that gives you several options, such as the FTX exchange. As mentioned above, it is a versatile platform that enables the users to trade various products. If you use this exchange, you can also trade the supported digital currencies and crypto indices that are mentioned below.
Available cryptocurrencies are:
Indices supported are:
- Exchange Token Index
- Midcap Index
- Altcoin Index
High-level of Security Offered
This brief FTX exchange review talks about one of the most important aspects of the trading platform, which is its security. The crypto space is a volatile place and poses several security risks to the traders and investors. This is why, new traders must take time to learn what they should avoid and always opt for one of the safest exchanges.
This FTX exchange highlights the fact that the trading platform has one of the top security systems in the market. It takes the security of the users very seriously and implements some of the most advanced security protocols.
As a new trader, you need to prioritize your safety and look at the security systems used by FTX as mentioned below.
- Two-factor authentication (2FA) security
- Cold wallet storage
- Advanced trading platform
The Fee Charged by FTX
Along with the level of safety offered, another crucial element that should never be overlooked by new or experienced traders is the fee structure of an exchange.
Keep in mind that even though every platform has a fee structure, they may vary in terms of the amount offered and the transparency of the fee. This is why, you cannot simply choose any exchange without taking a look at its fee structure. If you do so, you may end up using a trading platform that adds hidden and additional charges.
However, the FTX exchange fees is one of its most impressive factors and grabs the attention of a vast audience. This platform is known to charge one of the lowest and most competitive fees in the industry. The fee you will have to pay is also transparent and the trading fee is based on the market maker and taker model.
The details of the FTX exchange fee structure are mentioned below:
- Trading fee for market makers: 0.02%
- Trading fee for market takers: 0.05%
For leveraged tokens:
- Daily maintenance fee: 0.03%
- Creation and redemption fee: 0.10%
The users of the exchange are also not required to pay any fee for making deposits or withdrawals.
The FTX exchange is one of the top trading platforms in the market that offers some of the most impressive features. As a new trader, you need to know more details about a platform, apart from its popularity and success. Therefore, if you are looking to use FTX, make sure you go through the details mentioned above first.