Here are a Few Details You Should Know About the FTX Exchange
Among several cryptocurrency exchanges in the market, the FTX exchange is one of the most popular ones. There are several reasons for its popularity. However, if you are looking for a good exchange to start trading or investing in crypto then popularity is not the only aspect that you need to consider.
Other features of a platform such as its security, trading tools and charts, fee structure, customer services, mobile support, and more are all essential things to know about.
Knowing these details is important, especially for the new crypto investors and traders as it can help them in determining whether FTX is a good exchange for them or not.
Therefore, if you want to use the platform for buying, selling, or trading digital currencies then you should know the details mentioned in this brief FTX exchange review.
FTX Exchange Offers High Liquidity
One of the first things crypto investors and especially traders look for is the liquidity offered by an exchange. By definition, liquidity means how easily an asset can be converted into cash and not many platforms offer such a feature.
However, FTX offers high liquidity, which is required to complete a transaction. This platform also offers liquidity to the users without charging a fee. Even though the liquidity offered by the FTX crypto exchange is lower than some other platforms, it is still a good option for someone who is looking for an innovative platform that makes use of new approaches and helps people in managing their risk more efficiently.
Competitive and Low Fees
The fee structure of exchange is also a major and crucial aspect that needs to be considered, especially for people who are new to the crypto space. There are numerous platforms in the market, however, the one that has a good and transparent fee structure is the kind of platform you should go for.
To the delight of crypto enthusiasts, the FTX exchange is known for offering one of the lowest and competitive fees in the market. Every exchange charges some kind of fee to the users, however, you need to see the fee structure to avoid using a platform that charges hidden and additional charges.
Here is what you should know about FTX exchange fees:
Fee range is based on asset class and market type
Market maker fee is 0.02%
The market taker fee is 0.05%
VIP traders can get up to 50% discount on all fees
Daily maintenance fee of 0.03%
No deposit or withdrawal fee
One of the Highest Leverages
Trading with leverage is yet another factor that crypto traders often look for, whether they are experienced or not. Leverage trading is a kind of trading that can offer some benefits, however, the chances of some kind of financial loss are equally high.
Therefore, traders interested in leverage trading should choose a suitable platform and learn about leverage before dipping their toes into it.
The FTX exchange is known for offering leverage up to 101x, which is one of the highest leverages in the market.
Wide Array of Digital Currencies and Asset Classes
Another highlighting factor and major aspect you need to know about the FTX exchange is that it offers a wide range of asset classes and cryptocurrencies to choose from. As a trader, if you use the exchange to trade you can choose from fiat currencies, tokens, crypto indices, stocks and digital assets.
Bitcoin and Ethereum are some of the cryptocurrencies available on the platform.
Trading Leveraged Tokens and Indices
As a potential user of the FTX crypto exchange, you should also know that if you use the platform for crypto trading you can trade crypto indices and leveraged tokens. There is a variety of leveraged tokens that you can choose from and then trade.
To be precise, there are about 45 different exchange tokens that are available for the users to trade on the cryptocurrency exchange.
Therefore, if you are a potential crypto trader then you should know some more details of an exchange such as the asset classes available for trading before you choose it.
Final Takeaways!
The FTX exchange is a well-known exchange that is often on the list of crypto traders. It is a capable platform and implements new approaches for people who are looking for an exciting way to trade and more. Therefore, if you are new to the crypto space then you should have the above-mentioned information and choose the platform accordingly.
