FTX.US – Full Crypto Exchange Review

FXT.US

Rating: 72.5 / 100 Rating: 85.5 / 100

FXT US scored high on our trust test, but with such limited coins available to trade, we weren't able to rank it quite as high as some of the others.


Overall Rating: 72.5 / 100
Trust: 9/10
Trading: 9.5/10
Derivatives: 0/10
# of Coins: 4/10
Fees: 10/10
Customer Service: 10/10
Funding Options: 10/10
Recurring Buys: 0/10

Open FXT.US Account

Overview

FTX.US is the US version of the wildly popular and international FTX trading platform.

FTX.US launched in late 2020. The original FTX platform was created in May 2019, and is one of the most trusted brands in the cryptocurrency exchange industry. FTX offers some of the most robust features of any crypto trading platform.

The US version is new and the features are somewhat limited, but the updates and features will come, and eventually will function similarly to the original FTX product. This is a talented team and really caters to traders.

CEO: Sam Bankman-Fried

Strengths

FTX.US is a relatively new crypto exchange but brings lots of experienced developers, patents, and funding from its big brother, FTX. We expect lots of improvements in the coming months/years, but the current product is still very good.

Because of this relationship, FTX.US utilizes many of the security measures and protocols developed by FTX - as seen in our 9/10 Trust score.

FTX.US has a very low Bid/Ask Spread and very low fees making it popular amongst traders.

We love the API options, robust data views, and the ability to trade on margin with up to 10x leverage. All these features and capabilities will really draw in traders.

FTX.US is just getting started and will continue to add features at a rapid pace.

Weaknesses

FTX.US has limited coins and trading pairs, but they will continue to add more as they build out their trading platform.

This platform is still somewhat new and may have some ups and downs customary to new platforms. A common issue with new platforms is liquidity, but that is not an issue with FTX US.

We love that they utilize Proof of Funds, but wish they would add Penetration Tests and Bug Bounty.

No recurring buy option.

# of Coins: 8, which is one of the reasons why we don't have this rated as highly as some of the other platforms. The choices are just fairly low, but we anticipate them adding more in the future. 

Current Promotions

They are currently running a special for a 5% trading fee reduction if you sign up under this link. That can really add up if you plan to trade a lot!

Fees

We give these guys a great Fee Score (10/10) Why?

Deposit: No deposit fee or withdrawal fee (if using ACH). Low withdrawal fees if using other methods.

Withdrawal Fees / Coin List:

Channel Deposit Fee Withdrawal Fee Deposit Minimum
There are no deposit/withdrawal fees for blockchain transfers.
There are no fees for ACH transfers.
"We reserve the right to charge a fee for USD wire transfer deposits/withdrawals, currently set to min($35,max($5,1%)). That is to say: there is a 1% fee on USD deposits/withdrawals, but no more than $35, and no less than $5. Note that this does not apply to Stablecoin deposits/withdrawals or ACH transfers, which are free."

Trading Fees: Maker = 0.1% / Taker = 0.4%

Trading Fee Schedule:

Level 30d Trade Volume (USD) & BNB Balance Maker / Taker Maker/TakerBNB 25% off
VIP 0 < 50,000.00 USD or ≥ 0 BNB 0.1000% / 0.1000% 0.0750% / 0.0750%
VIP 1 ≥ 50,000.00 USD & ≥ 50 BNB 0.0900% / 0.0900% 0.0675% / 0.0675%
VIP 2 ≥ 100,000.00 USD & ≥ 100 BNB 0.0800% / 0.0900% 0.0600% / 0.0675%
VIP 3 ≥ 500,000.00 USD & ≥ 200 BNB 0.0700% / 0.0800% 0.0525% / 0.0600%
VIP 4 ≥ 1,000,000.00 USD & ≥ 400 BNB 0.0500% / 0.0700% 0.0375% / 0.0525%
VIP 5 ≥ 5,000,000.00 USD & ≥ 800 BNB 0.0400% / 0.0600% 0.0300% / 0.0450%
VIP 6 ≥ 10,000,000.00 USD & ≥ 1500 BNB 0.0000% / 0.0600% 0.0000% / 0.0450%
VIP 7 ≥ 25,000,000.00 USD & ≥ 2500 BNB 0.0000% / 0.0500% 0.0000% / 0.0375%
VIP 8 ≥ 100,000,000.00 USD & ≥ 4000 BNB 0.0000% / 0.0400% 0.0000% / 0.0300%
VIP 9 ≥ 250,000,000.00 USD & ≥ 6000 BNB 0.0000% / 0.0300% 0.0000% / 0.0225%
VIP 10 ≥ 500,000,000.00 USD & ≥ 6000 BNB 0.0000% / 0.0200% 0.0000% / 0.0150%

Trading Features

GREAT trading platform with Basic, Advanced, and OTC options combined with a lot of cool features, views, and open API ability to build your own trading algorithms, but the number of coins and tradable pairs is low. That hurts, but we expect them to add to their selection at some point.

Hodling Features

HODLers (Hold On for Dear Life) don’t trade, sell dips, or worry about Bitcoin price in the short term. HODLers are in it for the long term and have multi-year price goals. The most important features for HODLers are Security and Auto-Buys.

Security - FTX.US has industry-standard security, including a custom-built hot and cold wallet solution; full external backing of all hot wallet funds; and relationships with industry-leading custodians.

Recurring buys - FTX does not offer automatic recurring buys - which is our favorite feature for HODLers. If you want to set automatic, recurring buys you should consider Binance.US.

We are big fans of auto/recurring buys (Dollar Cost Averaging) and encourage you to utilize this strategy if you don’t want to make a large, one-time purchase, and then move your crypto into a hardware wallet.

Analysis / Educational Tools

The FTX website does not have a robust education section, so if this is a priority you should look elsewhere (we recommend Kraken or Binance.US - included links), but they are building a nice catalog of interviews and educational tools on their YouTube channel.

Their leadership team is actively involved in funding crypto education so we expect them to build out their own learning program/area.

Mobile / App

Very simple and intuitive. We really enjoy the look and feel of this app. Some of the more advanced trading features are either not available on the app, or are more difficult to navigate than the desktop version.