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FTX.us Review – How Does This Crytpo Exchange Stack Up?

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FTX.us is a cryptocurrency exchange designed for U.S. residents who want to trade crypto, with access to advanced trading tools and features. Created “for traders, by traders,” the FTX.us platform is the brainchild of Bitcoin billionaire Sam Bankman-Fried. Launched in 2020, FTX.us mirrors the standard FTX platform, but is compliant with U.S. financial regulations.

While the standard FTX platform offers access to over 500 cryptocurrencies and an almost-overwhelming number of trading features, the FTX.us exchange only offers access to 26 cryptocurrencies and a limited selection of trading tools — although still more than most other U.S.-based exchanges offer.

In addition to standard crypto trading, users can buy, sell or mint non-fungible tokens (NFTs) on the NFT marketplace, access margin trading for up to 10x leverage, trade crypto derivatives with options and futures trading, and even pay with crypto using the FTX.us VISA debit card.

Overall, FTX.us is a great option for U.S.-based advanced crypto traders, but its limited crypto selection may force users to look elsewhere to find their favorite altcoins.

FTX.us Fees

FTX.us offers low trading fees and no fees to buy NFTs, as well as one free wire transfer per week when withdrawing funds off the platform. FTX.us uses a maker-taker fee schedule for trading, charging up to 0.40% at the highest, which is lower than most other crypto exchanges.

Here’s a breakdown of what fees are charged on the FTX.us platform:

Type Fees
ACH deposit $0.50 for transfers under $100
Crypto deposit  Free
Debit card purchase $0.30 + 0.29% per transaction plus trading fees
Wire transfer Free deposits, free withdrawal per week$25 per additional withdrawal (under $5,000)
Crypto trading Up to 0.10% / 0.40% (maker / taker)
NFT fees 2% seller’s fee$3 to mint a new NFT

FTX.us Trading Fees

FTS.us uses a maker-taker trading fee schedule, offering discounts for higher volume traders. A maker is someone who places an order that is placed in the order book, effectively “making” a market. A taker places an order that is matched immediately, “taking” the order off the books. Makers generally enjoy lower fees than takers.

Here’s a breakdown of the FTX.us fees:

30-day volume (USD) Maker fee Taker fee
$0–$100,000 0.10% 0.40%
$100,001–$500,000 0.08% 0.30%
$500,001–$1,000,000 0.06% 0.20%
$1,000,001–$5,000,000 0.05% 0.15%
$5,000,001–$10,000,000 0.04% 0.10%
$10,000,001–$15,000,000 0.03% 0.08%
$15,000,001–$30,000,000 0.02% 0.07%
$30,000,001–$50,000,000 0.01% 0.06%
$50,000,000+ 0.00% 0.05%

Key Features of FTX.us

Although FTX.us offers a limited selection of crypto to trade, it makes up for it with a wide range of features for crypto enthusiasts, including advanced trading, a crypto credit card, and even a fully-fledged NFT marketplace. Here’s a breakdown of some of the stand-out features of the FTX.us exchange:

Trading Platform

FTX.us offers one of the best trading platforms aimed at active crypto traders, with advanced charting from TradingView, live order books, multiple order types, and even a drag-and-drop interface for customizing the layout. The candlestick charting offers access to hundreds of drawing tools and indicators, saving chart layouts within the TradingView platform.

Market orders are available, but there are also several other order types available to customize a trade, including:

  • Limit orders
  • Stop market orders
  • Stop limit orders (stop loss)
  • Trailing stop orders
  • Take-profit orders
  • Take-profit limit orders

The amount of time an order is in force can also be customized, with both Post or Cancel (POC) and Immediate or Cancel (IOC) order types available.

There is an advanced trading platform available that offers complete customization, including saved layouts and subaccounts. And finally, there is a “quant zone” which allows users to essentially create their own trading bots using rules-based trading.

Eligible accounts can also qualify for margin trading, with FTX.us offering up to 10x leverage. Users must have a $100,000 account balance to access leverage trading.

Overall, FTX.us offers more trading customizations than most crypto exchanges.

Derivatives Trading

FTX.us allows users to access derivatives trading, which makes it one of the only regulated crypto exchanges in the U.S. offering futures and options trading. Users can trade Bitcoin and Ethereum options contracts, with both long and short positions available. There are also “swaps” available, which essentially are short-term options contracts that settle daily.

FTX.us also offers Bitcoin futures contracts that are tradable, with a contract size of 0.01 BTC. This offers an accessible way for traders to access Bitcoin futures trading, with Ethereum futures contracts coming available in the future.

NFT Marketplace

FTX.us recently launched its NFT marketplace, making it a one-stop-shop for both artists who want to create NFTs and traders who want access to some of the most popular NFTs on the market. Users can mint their own NFT collection or buy and sell NFTs on the platform.

FTX.us supports both the Solana and Ethereum blockchains, which are the two most popular for NFTs, and does not charge buyers a fee when making an NFT purchase. There is a 2% seller’s fee for selling NFTs on the platform, and creators pay a $3 minting fee for any new NFT minted.

Although the majority of the NFTs on FTX.us can be found on other NFT marketplaces, there are a few exclusives only available on FTX.us.

Crypto Lending

Users can lend out crypto on the FTX.us platform to margin traders, earning interest paid hourly at the prevailing lending rate, which varies per asset. Users can deposit crypto onto FTX.us, select that crypto to lend, and then choose a “minimum interest rate” to lend out the crypto. If the prevailing rates rise above the minimum set, the crypto will be lent out to borrowers.

To remove crypto assets from the lending pool, users can select to withdraw crypto from the platform, but cannot access it until the close of the following hour. 

Crypto debit card (FTX Pay)

FTX.us gives users a way to pay with their crypto holdings with its Visa crypto debit card. This can be connected to a user’s FTX.us account, and they can select which crypto to pay for purchases with. When the card is swiped, FTX.us converts the crypto in the background, and there are no fees charged to users.

The card can be used anywhere Visa is accepted, and functions similarly to a regular debit card. There are spending limits on the card:

  • $10,000 per day
  • $50,000 per month
  • $1,000 per day ATM withdrawals

Note: Using the FTX.us debit card may cause a taxable event because selling crypto in order to pay with it can trigger a capital gain or loss.

Advantages of FTX.us

FTX.us doesn’t offer the widest crypto selection, but there are plenty of advantages to using the advanced trading platform. With access to customizable dashboards, low fees, and even NFTs, FTX.us offers more features than other U.S. crypto exchanges. Here are a few great things about using FTX.us:

  • Low Trading Fees. FTX.us offers some of the lowest fees around, only charging 0.40% for “taker” trades, and only 0.10% for “maker” trades. There are discounts available to high-volume traders, even charge 0.00% in fees to market makers transacting over $50 million in monthly trade volume.
  • NFT Marketplace. NFTs are hotter than ever, and the FTX.us NFT marketplace is easy to use and charges no fees to buyers. Sellers only pay a small 2% fee, and creators can mint their own NFTs for only $3 a pop. The selection is pretty good too, offering NFTs from both Ethereum and Solana networks.
  • Advanced Trading Features. FTX.us was built by Sam-Bankman Fried, a “crypto quant” and advanced trader who designed FTX.us to appeal to active traders. With advanced charting, margin and derivatives trading, and even programmatic trading within the “quant zone,” FTX.us has it all.

Disadvantages of FTX.us

While FTX.us is an advanced trader’s paradise, it isn’t for everyone. Here are a few things they could improve on the platform:

  • Complicated Trading Interface. Although the trading platform is great for seasoned pros, investors new to crypto may feel overwhelmed with all of the choices. There should be a simpler way to buy and sell crypto on the platform.
  • Limited Crypto Selection. Although most other crypto exchanges offer 100+ choices for trading crypto, FTX.us only offer 26 currencies. Even the standard FTX platform that isn’t available to U.S. residents offers over 300 cryptocurrencies. This limited selection makes it tough for those looking to trade altcoins or find the next up-and-coming crypto project to invest in.

How FTX.us Stacks Up

FTX.us is a great platform for active traders who want to trade Bitcoin, Ethereum, and a few other popular crypto. With low fees, customizable trading interface, and access to derivatives and margin trading make it a great choice for advanced crypto enthusiasts.

Coinbase is another popular U.S.-based crypto exchange that offers access to 170+ cryptocurrencies, a super simple mobile app, and educational videos to help new users get up to speed quickly.

While both of these exchanges offer users access to crypto trading, they are very different approaches. Coinbase appeals to beginners, making it easy to instantly buy crypto with a few clicks. FTX.us, on the other hand, is designed with advanced traders in mind, utilizing TradingView charts, multiple order types, and even the ability to program a trading bot.

Here’s how both FTX.us and Coinbase compare:

FTX.us Coinbase
Trading Fees 0.00% to 0.40% (maker / taker) Standard trading: 1.49% to 3.99%Advanced trading: 0.00% to 0.60% (maker / taker)
Number of Cryptocurrencies 26 170+
Trading Features Advanced trading platform, mobile trading, margin and derivatives trading, NFT marketplace, recurring purchases Simple and advanced charting, simple order form, mobile trading, recurring purchases
Security Features Cold storage, two-factor authentication, FDIC insurance, subaccounts, whitelisting Cold storage, two-factor authentication, FDIC insurance, crime insurance, AES-256 encryption

Final Word

FTX.us is a solid crypto exchange with rock-bottom fees and a wide range of trading features. With access to derivatives and margin trading, an advanced trading platform with TradingView integrated charting and customizable dashboards, as well as a quant zone to program trading bots, FTX.us is one of the most full-featured crypto trading platforms in the U.S.

That being said, the crypto selection is quite small at only 26, especially considering most competitors offer over 100 crypto to choose from. Add in the fact that FTX.us does not have a simple order form for new users, and beginners may find the exchange a bit too complicated.

Overall, FTX.us is great for advanced crypto users that want access to ALL THE TOOLS and are okay with the limited crypto selection, but crypto newbies may want to try another exchange like Gemini or Coinbase instead.

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