Skip to content

FTX US Review [2024] | Pros & Cons | Buy, Sell Bitcoin

FTX US Review
Jordan Major

Important: Please exercise extreme caution when using the FTX exchange amid current market events. Read more here: Source 1; Source 2; Source 3.

In this FTX US review, we will give an in-depth assessment of the cryptocurrency exchange’s trading platform, fees, security, and several other important features. The review will also discuss the platform’s benefits and drawbacks in detail, alongside providing a step-by-step guide for opening an account and depositing funds.

About FTX US

FTX US is a cryptocurrency exchange with its headquarters in Berkeley, California. It is a subsidiary of FTX, a Hong Kong-based cryptocurrency derivatives platform registered in Antigua.

FTX was founded in May 2019 by co-founders Sam Bankman-Fried and Gary Wang; however, due to regulatory scrutiny, FTX was prompted to establish a subsidiary for residents of the United States. 

Trading started on the FTX US platform on May 22, 2020, with the CEO Sam Bankman-Fried aiming to propel the cryptocurrency industry forward in the face of a lack of services for customers in the United States.

Since then, the platform has gained over 1 million users and claims to offer rates up to 85% cheaper than those charged by rivals while being fully regulated and licensed in the United States.

FTX US offers the following core products, all of which are beneficial to cryptocurrency traders:

  1. Trading platform: Traders may use spot and margin trading, as well as leverage, to develop trading strategies by using sophisticated trading tools on the FTX US interface.
  1. Derivatives: Crypto options and futures are readily available so users can trade digital assets such as Bitcoin derivatives around the clock all on one US-licensed platform.
  1. OTC Trading: An over-the-counter (OTC) portal where you can receive instant, 24-hour OTC quotes for the majority of cryptocurrencies, as well as zero fees, narrow spreads, and prompt settlements.
  1. The FTX card: Fee-free spending of your FTX US cryptocurrency holdings at millions of merchant locations globally is possible with the FTX card.
  1. NFT Platform: NFTs may be discovered, purchased, sold, and minted in a few clicks.
  1. FTX Pay: With FTX US’s quick, secure, and low-fee payment processor, you may accept payments in crypto and fiat. FTX Pay is a simple widget that enables you to take cryptocurrency and fiat payments on your website, app, or shop.
FTX US homepage. Source: FTX.US

Is FTX US safe?

The FTX exchange is currently unsafe to use, as the previously third-largest crypto trading platform has collapsed and filed for bankruptcy. The previous industry-leading crypto exchange's liquidity dried up following a sudden high demand in customer withdrawals, after which the company suffered substantial financial losses and couldn't recover. It has also resulted in possible criminal investigations.

Why do traders use FTX exchange?

Since FTX has established a reputation for delivering market-leading liquidity, from some of the industry’s top market makers to some of the most liquid futures order books; as a result, FTX US has had one of the most active order books in the crypto business since its launch. 

With that being said, FTX US order books are independent of the FTX exchange; despite the fact that market makers for both exchanges are overlapping, the US platform also has local market makers. 

Similar to other firms in the industry, FTX US has evolved into more than just a simple cryptocurrency trading exchange by offering users an all in one platform to meet a variety of crypto needs, including minting, buying and selling NFTs, trading derivatives, providing merchant services through FTX Pay, and even offering a debit card for crypto transactions.

Listed below are some of the key reasons why FTX US has gained more than 1 million users globally:

  • FTX US offers an innovative user interface as well as cross-device functionality being available both on desktop and mobile;
  • The exchange is regulated at both the federal and state level as it is registered as a Money Services Business with FinCEN and is compliant with the requirements of the Bank Secrecy Act;
  • The FTX US platform style is elegantly designed, as well as simple to use and navigate, making it a solid choice for cryptocurrency traders and investors of any skill level;
  • Users can sign up on the exchange and trade in under 3 minutes new and popular cryptocurrencies while keeping track of their portfolio;
  • Ten times the leverage of the FTX exchange, as well as a large amounts of liquidity and competitive fees.

FTX exchange’s key features and products

1. Trading platform

The FTX US exchange is straightforward to use, regardless of whether you’re a day trader or just want to purchase and hold cryptocurrency on the account.

Although FTX US does not support as many assets as its FTX counterpart, it does support a large number of high-cap and mid-cap coins, with support for additional cryptocurrencies being introduced all the time with a total of more than 20 distinct digital assets currently available for up to 10x leverage.

FTX US trading screen. Source: FTX.US

Selecting a Market 

Users may sort markets by 24-hour volume, price, and daily percentage change by simply clicking on the corresponding wording in the red box to the right of the market heading.

FTX US maerkets. Source: FTX.US

Users can examine and change charts, check the order book, conduct trades, and perform other actions inside the markets tab of a trading pair interface. Each panel on the markets page has a distinct function to assist you in informing and executing your trading choices.


The wallet tab has a number of menu items shown in white writing above the main panel, including Balances, Deposits, Withdrawals, Positions, Fills, and Conversions.

FTX US wallet. Source: FTX.US

Margin trading 

FTX US offers the ability to trade on margin in its spot markets for qualifying customers. In order to be eligible for margin trading, a user’s assets must satisfy the FTX US asset thresholds.

On FTX US, qualified customers may take advantage of up to 10x leverage on the spot markets. The initial margin for all spot positions (i.e., short token positions) is 10%, and the maintenance margin is 3% of the total amount of the position. 

In other words, you may initiate trades with up to ten times leverage and expect to be liquidated with about thirty-three times leverage.

Note: Margin trading entails risk; in particular, it exposes your account to the chance of being liquidated.

  • Users must confirm that they are eligible to participate in the program before proceeding. 
  • Users must have at least $100,000 in their FTX US account when applying for qualifying.


It is possible to convert a spot asset into another asset without needing to utilize the trade book by converting it in real-time. To convert between tokens and fiat currencies is simple, and there are no conversion fees to worry about.

Note: The price mentioned will vary depending on market circumstances and the spread involved.

2. FTX US Derivatives

FTX US Derivatives. Source: FTX.US


FTX US Derivatives now provides Bitcoin micro futures contracts, allowing traders to begin trading with as little as 0.01 BTC. Bitcoin mini futures are listed on FTX US Derivatives for two straight months plus two quarterly months and are physically settled at maturity.

Ethereum is also scheduled to be coming soon to FTX US Derivatives futures.


With FTX US Derivatives Bitcoin Mini Options and Ethereum Deci Options, users can diversify their portfolios and discover new strategic prospects. Income creation, hedging, and speculating strategies may all be executed with as little as 0.01 BTC or 0.10 ETH as a starting point. 

FTX US’s reputable, regulated platform allows you to get exposure to Bitcoin and Ethereum while minimizing risk.


Fees are as low as $5 per Bitcoin or 5 cents each contract when you trade Bitcoin and Ethereum on FTX US Derivatives.

Sell Bitcoin and Ether for USD in order to acquire options, sell put options, or utilize the USD to execute call options at settlement. Alternatively, buy BTC and ETH in exchange for USD to sell call options or in order to exercise put options at settlement.

3. OTC Trading

In addition, FTX US provides a digital OTC or “Over-the-Counter” Portal that anybody can access at any time. Traders and investors who want to acquire huge quantities of a coin or token while reducing their influence on the market may find this option useful.

FTX US OTC Portal. Source: FTX.US

The FTX US OTC portal is a common means of trade execution for institutional investors. However, the OTC portal is open to anybody who has completed the Know Your Customer (KYC) procedure on FTX.US.

This type of trading enables customers to execute large orders without publishing their order on the order book, possibly minimizing the price effect of the order on the marketplace.

4. FTX card

Since Swipe Visa backs the FTX card, it may be used practically anywhere that accepts Visa payments. The card is linked to the user’s FTX US account, which means that if the client makes a purchase using the card, the transaction will be deducted from their FTX US account balance.

In contrast to other crypto-debit cards, the FTX card doesn’t need funds to be converted to USD before loading onto the card. In the case of FTX US, cardholders are allowed to hold whatever kind of token they wish, and the particular crypto of choice will be instantly converted to the USD required at the moment of purchase. 

Additionally, there are no expenses associated with using the FTX card, and it is not necessary to link it to a bank account or anything else. Customers will also receive a virtual card immediately and a physical card in the mail, which should take between 7 and 14 business days in most instances.

5. NFT Platform

A non-fungible token (NFT) Is a token you can buy, sell, and hold. On FTX US, you can utilize NFTs in the following ways:

  • You may either bid on NFTs or buy them outright;
  • Create or ‘mint’ your own NFT;
  • Sell any NFT that you possess by putting it up for auction;
  • Save NFTs in your FTX US NFT gallery and withdraw them to your Web3 Wallet at your convenience;
  • Some NFTs allow you to exchange them for a good or service; the specifics on how to do so are included in the descriptions of the NFTs;
  • You have the option of displaying your own personal gallery of NFTs.

NFT fees 

  • On each sale or trade, FTX US levies a 2% fee to the seller. 
  • FTX US charges $1 for each NFT that you mint and list on their exchange.

6. FTX Pay 

Users can receive payments through FTX Pay which is a widget that allows you to accept both cryptocurrency and fiat payments on your website, app, or shop.

FTX US Pay homepage. Source: FTX.US

In general, FTX Pay provides merchants with a method of accepting payments from users. Merchants may accept payments to one of two destinations

  1. Their FTX US account. 
  2. An external wallet.

FTX US account 

FTX US is able to offer precise information on payments to merchants after they have been received into an FTX US account, including via an API. Furthermore, since no funds are entering or leaving a crypto wallet on a technical level (simply a transfer between two FTX accounts that “live” on the same wallet), there are no blockchain fees to consider.

External wallet

You may also accept payments to an external wallet as an alternative (useful for DeFi and similar projects). If you are interested in DeFi apps, but do not want to have an FTX US account, you may set up FTX US payments to an external wallet instead of creating an account with FTX US. 

Nevertheless, it’s worth bearing in mind when receiving payments for services from unknown parties; it may be complicated to determine who is paying you by default due to the lack of a verified account from whom you may request payment information. 

Aside from that, you will be charged a 1% fee in addition to any blockchain costs that FTX anticipates; however, this amount may differ slightly from the actual blockchain fees that are paid since FTX charges the fee when you request a payment.


Trading fees

For all spot markets, FTX US charges a tiered fee structure, which is as follows:

FTX US maker taker fees. Source: FTX.US

FTX US has instituted a tiered fee scheme that includes both maker and taker fees for all spot markets traded on the exchange. The percentage of the cost is decided by the amount of money that is exchanged, albeit even the highest fee is less than 0.5%.

Costs for the spot markets are levied in the target cryptocurrency or currency for maker orders and in the quotation currency for taker orders (for example, a market buy order on ETH/USD would pay fees in USD, but a limit buy order that executes as a maker would pay fees in ETH).

Wire fees 

FTX US retains the right to impose a USD wire transfer deposits and withdrawals fee. 

Specifically, a 1% fee is charged on all USD deposits and withdrawals; however, the cost cannot exceed $35 and cannot be less than $5 in any one transaction. It should be noted that this does not apply to stablecoin deposits and withdrawals, as well as ACH transactions, which are completely free. 

With that being said, deposits and withdrawals made using wire transfers are currently free on FTX US.

Automated Clearing House (ACH) fees

The typical cost for Automated Clearing House (ACH) transfers is $0.50; however, FTX US will forego the fee for first-time ACH deposits if the user has not deposited in the previous week and the deposit exceeds $10, or if the user has deposited in the last week, but the deposit is above $100. Thus, there are several methods to fund your FTX US account without incurring any fees.

Crypto fees

For blockchain transfers, there are no deposit fees to pay. With the exception of ERC20/ETH, OMNI, and small BTC token withdrawals, FTX US covers the blockchain fees associated with all token withdrawals.

Deposits & Withdrawals

FTX US integrates industry-leading banking on-ramps that streamline the process of depositing and withdrawing fiat. Moreover, the exchange has seamlessly merged stablecoins with the USD to aggregate liquidity and convenience of usage.

It is possible to deposit funds into your FTX US account using either your bank account or one of several cryptocurrencies. The various deposit and withdrawal options are shown below.

Deposit Options

  • Silvergate Exchange Network (SEN);
  • Signet;
  • Cryptocurrency;
  • Wire Transfer;
  • ACH;
  • Debit or Credit Card.

Withdrawal Options

  • Wire Transfer;
  • ACH;
  • Silvergate Exchange Network (SEN);
  • Signet;
  • Cryptocurrency.

Deposit & Withdrawal Limits

Individuals in the United States who have tier 1 accounts are restricted to a daily limit of $10,000 in crypto and fiat withdrawals and a lifetime restriction of $300,000 in withdrawals.

Conversely, individuals in the United States who have tier 2 accounts are not restricted in their cryptocurrency or fiat deposits or withdrawals.

Tier 1 and Tier 2 account limits. Source: FTX.US

FTX US Pro mobile app

Customers can download the FTX US mobile app for iPhone or Android on the App Store or Google Play store.

FTX US Pro mobile app. Source: FTX.US

In the FTX US Pro app, the trade tab offers users the same charting and order execution capabilities as those accessible on the desktop interface.

Charting: Users may customize the chart interface by changing periods, candle kinds, and adding indicators like Bollinger bands and moving averages. Users may also log in to their TradingView account by clicking the blue logo in the bottom left. 

Advanced Order Types: The trading interface allows users to place several order types. 

Order Placement Calculator: The order placement calculator has a pop-up menu to place numerous orders quickly. 

Switch between markets: Users may rapidly switch between trade pairs available on the exchange by clicking on the three lines in the upper left corner of the screen.

FTX US Pro. Source: FTX.US

Personal Account Security

FTX US is subject to regulation at both the federal and state levels, with its principal regulatory compliance requirements being inside the United States.

Furthermore, FTX US has successfully received the US Generally Accepted Accounting Principles (GAAP) financial audit.

Password Strength and 2FA Requirement 

Every account at FTX US requires you to create a password that is made up of a mix of numbers, letters, special characters, and no predictable patterns. 

Additionally, FTX US needs a necessary two-factor authentication (2FA) set up in order to interact in any manner on any newly established account. 

2FA Withdrawals and Passwords

FTX US is committed to safeguarding all withdrawals, starting with a practical approach that allows users to activate a dual security layer, consisting of two-factor authentication and a distinct password for each withdrawal.

Withdrawal Lock

There is a withdrawal lock after an account status change such as:

  • – 2FA Removal
  • – Password Change

FTX US may lock the withdrawals on the account for at least 24 hours.

Tracking Suspicious Activity

FTX US tracks any suspicious activity on the platform. In the event that FTX US detects an unusual login attempt on an account, even if it is simply the Username and Password with no 2FA, they will still warn the account owner in order for them to take the appropriate steps.

Provisions for Increased Security

Subaccount Login Functions

FTX US enables you to establish custom logins; using them allows other individuals to connect to your account with customizable permissions.

Whitelisting IP’s

FTX US allows you to specify the security permissions for your account when setting up your API Keys.


  • Read-only;
  • Withdrawals enabled;
  • Internal transfers enabled (between subaccounts);
  • IP whitelist (API Key only usable from specified IP).

Whitelisting Wallet Addresses

A whitelisted address requires that all withdrawals be sent to pre-designated whitelisted addresses. Contacting an FTX US administrator is required in order to disable this option or reduce the whitelisting delay.

VIP Program

VIPs at FTX US enjoy a wide variety of perks, including the following:

  • Lower costs: 0.04 % taker fees for VIP1 and 0.025 % taker fees for VIP2, and 0.00 % maker fees; 
  • Account Manager;
  • Flexible API limits; 
  • A direct channel to a senior developer for API-related queries and concerns;
  • The option to provide suggestions for new products that FTX US develops;
  • Access to VIP meet-ups and unique VIP gear from FTX US are also included.

In order to be eligible for VIP2, you must constitute approximately 5% of the total 30-day exchange volume.

The referral fees generated by VIPs are not deducted from their account; nevertheless, they may still refer other traders and collect referral fees for doing so.

Referral Program

In addition, FTX US offers a generous referral program, which means that if a new user joins up using your referral code, you will get receive 30% of their fees, and they will receive 5% of their fees back.

FTX US Referrals. Source: FTX.US

Customer support

Users may send tickets to FTX US using their platform’s support portal, which is accessible to all users. It is also worthwhile to check their Twitter, Facebook, and Telegram accounts for any continuing troubles or outages.

Besides that, FTX US offers a solid self-help knowledge base ‘Help Center‘ section that is accessible and will likely answer many of your questions or address your issues.

FTX US Help Center. Source: FTX.US

Support Center

The fastest method to receive assistance is to go to and submit a support ticket, and a member of the FTX support staff will respond to you.

FTX US Help Center support tickets. Source: FTX.US

How to set up an account on FTX US (step-by-step)

Step 1: Go to the FTX US website and click on the [Register] button. Enter your email address and the new password, click on [Click to Verify] to confirm that you are a genuine person, check the box to acknowledge that you have read and agree to the FTX US Terms of Service, and finally click on [Sign Up].

FTX US account set up enter email. Source: FTX.US

Step 2: Select the verification type for your account ‘Individual’ or ‘Institution.’

Identity Verification. Source: FTX.US

Step 3: Enter your personal details such as legal name, date of birth, country of residence, phone number, and street address, then click [Submit Information].

Individual verification type personal details. Source: FTX.US

Step 4: Now, your account will be created after entering the SMS code sent to your phone. However, you will still need to complete KTC ID verification. To verify your identity, this can be done on Stipe on your mobile or computer, and you will need to submit documents to verify your identity.

Secure Identity verification Stripe. Source: FTX.US

Step 5: Next, click [Submit Information] to submit your application. Your account is now under review; however, if your account is not auto-approved, it may take 1-3 business days for review. 

Pros & Cons of FTX US



  • Competitive fees;
  • Advanced trading features;
  • The exchange is licensed and fully regulated within the US;
  • Functionality to buy, sell and mint NFTs;
  • The FTX card;
  • FTX Pay for merchants.


  • The exchange is not available in New York state;
  • There could be a wider variety of tokens supported.

Final thoughts 

All in all, crypto traders and investors of any skill level will find the FTX US platform and mobile app to be straightforward to use, suiting the needs of the vast majority of crypto users. 

Given that FTX US is licensed and fully regulated inside the United States, as well as the fact that it has a strong team of supporters behind it, the platform is regarded as one of the safest and most trustworthy cryptocurrency exchanges available to traders on the market.

In addition, to its credibility and security, FTX US customers can benefit from the competitively low fees making it a solid choice for users living in the United States and abroad. Having said that, a disadvantage is that the coins and tokens that are supported are not quite as solid as those offered by other rivals, albeit the platform is still fairly young, and new cryptocurrencies are being added regularly to the list.

Through the implementation of innovative features such as FTX Pay and the FTX debit card, FTX US is making significant progress toward its goal of being the all-in-one platform for crypto users in the United States who wish to actively trade, buy, hold, and sell cryptocurrency.

FAQs about FTX US

What are the trading fees on FTX US?

For all spot markets on FTX US, a tiered fee system is in place that includes both maker and taker fees. The proportion of the fee is determined by the amount traded, although even the largest fee is less than half of 1%.

Is FTX US safe?

FTX US is a secure crypto exchange, and has never been hacked since its launch. Furthermore, FTX US is subject to regulation at both federal and state levels as well as being licensed in the US. In addition, the platform has measures in place to safeguard your account, including 2FA and Whitelisting.

Can I use FTX US in New York state?

Although it is marketed or branded as FTX US, the exchange is available around the world, with the exclusion of residents of New York State and residents within Office of Foreign Assets Control (OFAC) OFAC-sanctioned nations are unable to use FTX US presently. The list includes New York State (US), Ontario (Canada), Cuba, Crimea and Sevastopol, Iran, Afghanistan, Syria, North Korea, Antigua, and Barbuda or Japan.

Can I buy NFTs on FTX US?

Yes, you can mint, buy, and sell a variety of NFTs from artists and creators on the platform. The “All Collections” option allows you to click on individual NFTs to examine the collection they are a part of. Individual NFTs may be clicked on to display the issuer, series, characteristics, trading history, and price.

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related reviews


Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.