ftx Key Facts
- Known for: Derivatives / Volatility
- Top products: perps, volatility, futures, tokenized stocks
- Is legit (reps are community OGs)
- No-KYC until your total withdrawals reach threshold
- Gaining a lot of trust in the community
- US customers through a separate platform
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atnet to get 5% fee discount on FTX.com or FTX.us.
- FTX runs one platform for the US and another for the rest of the world.
- Use the same referral code at both platforms to get your 5% fee discount.
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FTX KYC - International
KYC threshold 1k total withdrawals
FTX.com does not accept US customers but the sister platform, FTX.us, does accept traders from the US.
FTX.com does not require KYC to start trading or making a deposit.
Traders at FTX.com are required to pass KYC once their lifetime total crypto withdrawals are about to exceed 1000 USD. The next tier KYC gives you up to 9000 USD daily withdrawals. Full verification at FTX.com has unlimited withdrawals as well as fiat access both ways.
The KYC process is quick and mostly automated, similar to what Deribit does. You state your address and take a snap of your ID, pretty much.
FTX.com is based in Hong Kong, so the lighter KYC approach is not surprising.
- crypto spot & margin spot
- crypto derivative contracts and perpetual swap
- prediction markets
- volatility contracts
- tokenized stocks paired with fiat or large-cap crypto
Other FTX.com products:
- crypto staking
- crypto lending
FTX US Customers
KYC threshold 10k total withdrawals
FTX.us is a fully regulated US branch of the same FTX exchange. It was set up only very recently.
If you are a US resident, FTX will want you to stick to the US platform and the markets they offer there.
Sadly, what FTX offers to US traders is limited to your usual crypto spot markets and a few fiat forex pairs for arbitrage traders.
On the flip side, your no-KYC limit is higher at the US platform. Traders at FTX.us are only required to pass KYC with lifetime crypto withdrawals exceeding 10.000 USD.
Also, the trading interface has better features for active traders than your usual US platform. If you are American at some place mid-tier with your trading (not strictly OTC or a yield fund, but not exactly an amateur retail trader either), you will like trading at FTX.
- crypto spot
- basic fiat forex pairs such as AUDUSD
Other FTX.us products
- stable fiat and stablecoin onramps and offramps
- user interface ready for serious traders
FTX is pretty new in business: The international platform launched in early 2020, the US shop is even younger. The exchange duo is quickly gaining trust in the community though.
You will not find any Twitter celebrity working at FTX, but crypto traders who have been around longer than one bull run will recognize the name Zane Tackett, who now leads business development at FTX.
Zane Tackett is the former public face of Bitfinex who started his career in Beijing at the time when crypto industry was just barely a thing yet.
Needless to say that Bitfinex and Binance are among FTX’s business partners.
Trading on FTX
FTX is aiming at traders who like their perpetual swap but are also not afraid to try new markets.
The user interface was very obviously designed for altcoin traders, arbers and anyone else who moves around different currencies, crypto or fiat.
Your charts at FTX are from TradingView, which is to say the best you can get.
To sum it up, I’d reiterate what was said about the US branch of FTX: If you are somewhere mid-tier with your trading and not into options, you will like trading at FTX.
If you just want to trade your perps without getting into KYC though, maybe just go for one of these places: