FTX Exchange Review 2022

FTX Exchange Review 2022: Features, Fees & Support

In this FTX Exchange review 2022, we’ll explore why you should be using one of the fast-growing and innovative crypto exchanges. We take a look at their wide range of trading options, features, trading fees, plus the pros, and cons.

FTX is a cryptocurrency exchange, backed by the quantitative crypto trading firm and liquidity provider Alameda Research. FTX Exchange is built by traders, for traders, offering a wide range of trading options and products. The popularity and rapid growth of FTX are quickly making them one of the biggest exchanges and will soon challenge the likes of Binance Exchange.

FTX Referral Code 2021

FTX Exchange Review 2022

What is FTX Exchange?

FTX Exchange is an exchange built by traders, for traders. The exchange was founded in May of 2019, by its CEO Sam Bankman-Fried, and is back by Alameda Research. FTX is owned by FTX trading limited a company incorporated in Antigua and Barbuda

They focus on providing services for traders rather than investors. Using a single wallet, the FTX exchange offers a host of varied products for trading. There are 3 types of futures contracts, spot trading, you can also trade stocks, leveraged tokens, volatility, predictions, and trade FIAT markets.

what is FTX exchange?

Since its launch, FTX has been busy! In mid-2020, the company launched its partner site, the FTX US exchange. They bought the popular crypto portfolio tracking app Blockfolio, as part of a 150 million dollar deal.  They also have an alternative exchange for the Defi space (known as Serum) which was built on top of the Solana chain.

Plus, most recently they won the naming rights to the home of the Miami Heat. Which is approved by the Miami Dade board of county commissioners for 135 million dollars, over 19 years.

FTX Exchange Naming Rights Miami Heat

FTX Blockfolio

Blockfolio was initially launched in 2014 as a place where people could track their cryptocurrency portfolios. However, after catching the attention of FTX, (who later acquired Blockfolio in mid-2020) the app now has trading inbuilt where users can trade crypto, tokenised stocks, NFTs and FIAT currencies. Plus there are now over 6 million people using the mobile app which is available from the App Store or Google Play.

With FTX Blockfolio, users can track the price of various cryptos and the performance of their holdings whilst getting the latest news and team updates.

Not only that, but you’ll earn a  free coin for every trade over $10, by checking out our detailed FTX Blockfolio review.

blockfolio portfolio tracker

What is FTT Token?

FTT is the native token to the FTX exchange and can be used on the exchange to help to reduce trading fees. One of the major benefits for me holding the FTT token is the ability to withdraw Ethereum and ERC20 tokens for free.

FTT Staking

The FTT token can also be staked on FTX Exchange, by staking FTT token you will receive the below benefits;

Increased Referral Rates: Referrers that stake FTT will be paid a higher fraction of their referees’ fees
Maker Fee Rebates: Stakers get maker fee rebates (in addition to the standard FTT fee discounts)
Bonus Votes: Stakers get bonus votes in FTX polls
Airdrop Rewards: Stakers will receive increased SRM airdrops 

For more information on staking FTT staking click here

FTT Staking Rewards

FTX Referral Code January 2022

If you’re new to the FTX exchange and want to get started. You can open an account by clicking on this link and receiving 5% off your trading fees.

Alternatively, navigate to www.ftx.com and use this referral code when signing up, for 5% off your trading fees: EveryBitHelps

FTX Referral 2022Use Referral EveryBitHelps
FTX Sign-up Bonus5% Off Trading Fees
Referral TermsFTX referral terms can be found here
Bonus Last ValidatedJanuary 2022
FTX referral code 2021

How to Create an Account on the FTX Exchange

Creating an account with FTX is a simple process. As with a number of exchanges, FTX has a tiered approach of what you can do dependant on KYC verification.

Tier 1 allows a trader to trade and withdraw up to $2000 per day with only email verification and address input.
Tiers 2 and 3, you will need proof of address, ID to verify your identity. This will allow you to withdraw an unlimited amount of crypto, or crypto and FIAT depending on the tier.

When creating an account, you’ll also be prompted to enter in a form of 2-factor authentication and you won’t be permitted to deposit or withdraw without this.

Deposit Methods

With the FTX exchange, there is a wide range of deposit methods. In terms of FIAT, FTX currently supports 10 currencies for withdrawals and deposits in; USD, EUR, GBP, AUD, HKD, SGD, ZAR, CAD, CHF, and BRL.

All FIAT supported on the exchange can be deposited by wire transfer and credit card although wire transfers can only be completed on a weekday or in the evenings UTC. Paypal was also supported as a deposit method however at the time of writing, this has been temporarily paused.

You are also able to deposit using cryptocurrencies such as the likes of; BTC, ETH, BCH, BNB, LTC, FTT, USDT, etc. When depositing cryptocurrencies, generally these are free of charge. However, if you are withdrawing ETH/ERC20 or Omni you will need to pay the blockchain fees unless you have 150 FTT staked.

FTX exchange Deposit Methods

FTX Supported Cryptocurrencies

You can trade with a large variety of cryptocurrency and FIAT assets with FTX. These include the likes of Bitcoin, ETH, USDT, FTT, SOL, and BNB.

FTX Supported Crypto

FTX Exchange Fees

Trading fees on the FTX exchange are incredibly cheap, even for those who are smaller investors and not trading in larger volumes. For futures and spot markets, they work on a maker-taker model with fees from 0.04% to 0.07%.

You can see from the table below that they also work in a tiered system in which high-volume traders have lower trading fees. There are also fees associated depending on leverage used which is up to 0.03%.

FTX fees

With regards to Leveraged tokens, these have creation and redemption fees of 0.10% and management fees of 0.03% daily.

The exchange also offers discounts on fees dependent on purchases of their native token- FTT. You can see in the table below these discounts are dependent on how much FTT you hold.

FTX token

FTX Staking

The FTX exchange allows staking of its native tokens for benefits. The FTX native token is FTT which give you the below benefits-

  • Increased referral rates: referrers that stake FTT are paid a higher fraction of their referees’ fees
  • Maker fee rebates: stakers get maker fee rebates (in addition to the standard FTT fee discounts)
  • Bonus votes: stakers get bonus votes in our polls (in addition to the standard number of votes, based on FTT held and trading volume)
  • Increased airdrop rewards: stakers get increased SRM airdrops (and potentially later other airdrops and yield)

You are also able to stake UBXT, SRM, FIDA, SOL and RAY for different rewards stated on their website here.

FTX Trading Derivatives

Using a single margin wallet, the FTX exchange offers 5 types of cryptocurrency derivatives products that can be used when trading. These are listed below.

  • Futures – There are 3 types of futures contracts that you can use on the platform. A contract that expires this quarter, one that expires next quarter or a perpetual futures contract. There are a number of popular coins that can be used for this including BTC , ETH and USDT.
  • Leveraged Tokens – You are able to buy and sell these tokens with up to 3X leverage and no margin requirements.
  • Spot trading– Trading following the underlying price of the asset.
  • Move– Contracts that represent the absolute value of the amount of the price of a coin moves over a certain time period.
  • Options – Advanced traders can use these contracts to give holders the right, but not obligation, to buy or sell futures stake prices.

FTX Tokenised Stocks

The FTX exchange offers the opportunity to trade on tokenized stocks. With digitals assets such as the likes of Tesla, Apple, Amazon, Facebook, Netflix, Google, Spy, Bilibili, Alibaba, Beyond Meat, Pfizer, and BioNTech.

The exchange has a large range of trading pairs with these stocks where you can trade in the same way you would with other spot markets. You will also need to be at least KYC 2 on the exchange to use this service.

Is FTX Exchange Safe?

In terms of personal security on the platform, the exchange offers 2FA for a number of actions. These include password changes and withdrawals from the platform. In fact, you cannot deposit or withdraw from the platform until you have a form of 2 Factor Authentication associated with your account. You can use Google Authenticator, Security keys such as Yubico’s Yubikey, or your phone as a form of 2FA.

With regards to exchange security, the FTX exchange has recently engaged with Chainalysis to monitor suspicious transaction alerts using their product. This is a KTY, real-time anti-money laundering compliance solution. The exchange uses this along with manual reviews of large and suspicious deposits and withdrawals.

FTX Exchange App

The FTX exchange is also available as an app that is downloadable for Android, Google, and Apple IOS devices.

FTX exchange app


Since the FTX Exchanges launch, US citizens have been unable to use the platform due to strict regulations. Other countries where you cannot use the exchange include parts of Canada, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Sudan, and Singapore.

However, as of mid-2020, the company launched its partner site, only for users in the US the FTX US Exchange.


FTX vs Binance

FTX and Binance partnered in 2020, with finance being FTXs first-ever outside investor. With this partnership, they expected to ‘further grow the crypto derivative markets, build better crypto trading products and platforms, and identify compelling business opportunities across the industry and beyond.

Binance even offered some of FTXs native tokens on their exchange, although these were removed 4 months later.

FTX vs Binance

Comparing both platforms, Binance is seen as world-leading in spot trading with more developed on ramping than FTX. Binance has a more developed on-ramp feature as well as a wider range of Cryptocurrencies on their platform. FTX has really low maker fees designed for traders and is more focused on futures and options than Binance. In conclusion, they are both leading exchanges with great pros dependent on what you intend to use the platform for.


Rating: 4.5 out of 5.

When you get used to an exchange it is very difficult to move away and try something new. But with FTX offering low trading fees and free withdrawals for holding and staking their FTT token, I finally gave in. I still use Binance as the number of supported cryptos is unmatched, but it’s always worth having a second option and backup exchange.

It´s good and healthy for crypto to see another platform challenging Binance dominants. Hopefully, the innovation and growth from Sam and the team will continue and it will also be nice to see the FTT tokens grow in our portfolio

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One Response

  1. Hi you two

    I was wondering what you’re opinion is of the present situation with Binance regards to UK customers. Moreover have you still got funds on the site?


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