Here is Why the FTX Platform is an Outstanding Option

The FTX platform is an excellent exchange that supports crypto trading and is known to be one of the most versatile exchanges.

Among several other aspects, one of the most highlighting ones is that this platform has been created by crypto traders for crypto traders. The outstanding features it offers to the users is why it has made a mark in the crypto industry.

It is a powerful trading platform that is capable of catering the needs of a vast audience, experienced and inexperienced alike. However, there are numerous reasons why the platform is one of the best options.

Here is what every crypto trader needs to know.

FTX Platform Supports Leverage Trading

Leverage trading is a popular and advanced trading strategy that is supported by many crypto trading platforms. It allows the traders to borrow funds (called leverage) from brokers and open bigger trading positions.

Depending on how the trade goes, the traders can either get high profits or high losses. Therefore, leverage trading can be quite a risky venture.

This is why, it is important that every trader takes their time and opts for a platform by taking a look at the leverage ratio offered and the credibility of the exchange.

FTX may not support one of the highest leverages, which is up to 20x. Regardless, it is a trustworthy and secure trading platform that can be a good exchange to use for both new and experienced traders.

Variety of Trading Products

As mentioned above, the FTX platform is quite versatile and powerful. One of the factors that verifies the versatility of the platform is the support it extends to various trading products. As a user of the exchange, you can have access to several digital currencies and numerous markets.

Some of the trading products supported and mentioned in this brief FTX exchange review are as follows:

• Spot markets derivatives
• Tokenized stocks
• Options market
• Futures market
• Leveraged tokens

Safety Protocols Used

This brief FTX exchange review sheds light on all the major attributes of the platform such as the security systems that ensure the platform is kept safe from all kinds of cyber threats and failures.

The high-end security offered to the users makes it one of the best options for every kind of trader. The numerous security protocols implemented by the platform include the following:

• Two-factor authentication (2FA) system
• Advanced trading platform
• Offline wallet storage

OTC Desk Option

The OTC Desk Option is an advanced and highly unique feature that is supported by the FTX platform. It is specifically for professional traders, especially those who want to purchase digital assets in large numbers.

Another benefit of the OTC Desk Option is that it provides the liquidity that is required and also cuts the fee back to zero.

How Much Fee Users Have to Pay?

The fee structure offered is yet another major and crucial aspect that is a part of this brief FTX exchange review. Knowing the fee structure of a platform is essential as it can give you a good idea of how much you will have to pay if you use it to trade digital currencies.

FTX is known to offer one of the lowest fee structures in the industry, making it a suitable option for many. The details of the fee charged are as follows:

• 02% trading fee for market makers
• 05% trading fee for market takers
• No fee required while making deposits
• No fee required while making withdrawals

Since the FTX platform supports various trading products, the fee charged can also be different.

The fee charged for leveraged tokens are mentioned below.

• 03% fee for maintenance
• 10% fee for redemption and creation

Supported Digital Assets

The availability of a variety of cryptocurrencies and other assets makes this platform a versatile exchange that allows traders to diversify their portfolio.

As a trader, if you use this exchange you will have access to a wide variety of tokens, fiat and digital currencies, indices and stocks.

The cryptocurrencies supported by the exchange include the following:

• Ethereum
• Ripple
• Bitcoin
• Litecoin

The crypto indices supported by the exchange include the following:

• Midcap Index
• Exchange Token Index
• Altcoin Index

Final Takeaways!

The FTX platform is an outstanding exchange that offers support to a variety of features and services. The impressive features it offers make the platform an excellent option for a vast audience. Therefore, if you are interested in using the platform then you need to know the details mentioned above.