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FTX foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://ftx-fx.com/, about the company's legal and temporary regulatory information, the company's address 369 Lexington Avenue New York City, NY 10017 United States.

FTX Forex Broker

Basic Information

Registered Region
United States
Operating Period
--
Company Name
FTX Capital Group
Abbreviation
FTX
Company employee
--
Customer Service Email Address
Support@ftx-fx.com
Contact Number
+12135640707
Company Website
Company address
369 Lexington Avenue New York City, NY 10017 United States
Keywords
2-5 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

Company profile

FTX Basic Information Registered Country/Area United States Founded year 2019 Company Name FTX Capital Group Regulation Suspicious regulatory license Minimum Deposit $500 Maximum Leverage Up to 100x Spreads N/A Trading Platforms FTX WebTrader, FTX API Tradable assets Cryptocurrency Account Types Standard, Active Trader, VIP Demo Account Yes Islamic Account No Customer Support Phone, Email Payment Methods Bank transfer, Cryptocurrency, Credit card, Wire transfer Educational Tools Tutorials, webinars, eBooks Overview of FTX FTX is a cryptocurrency exchange that was founded in 2019. It is headquartered in the United States and has a suspicious regulatory license. The exchange offers a variety of features, including margin trading, spot trading, and derivatives trading. It also offers a variety of account types, including standard, active trader, and VIP accounts. FTX offers a demo account so that users can test the platform before depositing real money. The exchange also offers customer support via phone and email. FTX is a relatively new exchange, and it has not been subject to the same level of scrutiny as some of the more established exchanges. As such, there is some risk associated with using the platform. Here is a more detailed overview of some of the key features of FTX: Trading platforms: FTX offers two trading platforms: FTX WebTrader and FTX API. FTX WebTrader is a web-based platform that is easy to use and navigate. FTX API is a more advanced platform that is designed for experienced traders. Tradable assets: FTX offers a wide variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Tether. It also offers a number of derivatives products, such as futures contracts and options. Account types: FTX offers three account types: standard, active trader, and VIP. The standard account is the most basic account type and offers the most basic features. The active trader account offers additional features, such as lower trading fees and access to margin trading. The VIP account offers the most features and benefits, such as dedicated customer support and access to exclusive trading events. Customer support: FTX offers customer support via phone and email. Is FTX legit or a scam? FTX is a cryptocurrency exchange that has claimed to be regulated by the National Futures Association (NFA). However, upon investigation, it has been discovered that the NFA does not list FTX as a member. This means that FTX is not subject to the same level of regulation as other cryptocurrency exchanges that are members of the NFA. he lack of regulation of FTX raises some concerns about the safety of customer funds and the security of the platform. Additionally, FTX is not subject to the same level of oversight as other cryptocurrency exchanges, which makes it more difficult for regulators to investigate and prosecute any wrongdoing. Pros and Cons Pros Cons Wide variety of products and services Not regulated by any major financial authority High leverage limits Has been criticized for its riskiness Has been the subject of negative press Filed for bankruptcy in November 2022 deposit and withdrawal fees applied High minimum deposit requirements Products and Services FTX is a cryptocurrency exchange that offers a variety of products and services to its users. These products and services include: Spot trading: FTX allows users to trade cryptocurrencies directly against each other. This is the most basic type of trading offered by FTX. Margin trading: FTX allows users to trade cryptocurrencies with leverage. This means that users can borrow money from FTX to amplify their trading positions. Leverage can increase the potential profits of a trade, but it can also increase the potential losses. Derivative trading: FTX offers a variety of derivative products, such as futures contracts and options. Derivatives are contracts that derive their value from the price of another asset. Derivatives can be used to hedge risk or to speculate on the future price of an asset. Launchpad: FTX's Launchpad is a platform for launching new cryptocurrency tokens. Tokens that are launched on the Launchpad are often subject to high demand, which can lead to significant price appreciation. FTX Token: FTX Token (FTT) is the native token of the FTX platform. FTT can be used to pay for trading fees on FTX, and it also entitles holders to discounts on trading fees and other benefits. FTX Pay: FTX Pay is a payment solution that allows users to make payments with cryptocurrencies. FTX Pay can be used to pay for goods and services online or in person. Account Types FTX offers three account types: Standard, Active Trader, and VIP. The account type that you choose will determine the features and benefits that you have access to. Standard Account: The Standard Account is the most basic account type offered by FTX. It offers all of the core features of the platform, such as spot trading, margin trading, and derivative trading. However, Standard Account holders do not have access to some of the more advanced features, such as lower trading fees and dedicated customer support. The minimum deposit for a Standard Account is $500. Active Trader Account: The Active Trader Account offers a number of features of the Standard Account, including: Lower trading fees: Active Trader Account holders pay a lower trading fee on all trades. The fee for maker orders is 0.02% and the fee for taker orders is 0.04%. Margin trading with up to 50 times leverage: Active Trader Account holders can trade with up to 101 times leverage, which can amplify their profits or losses. Customer support: Active Trader Account holders have access to customer support. VIP Account: The VIP Account offers the most features of any account type offered by FTX. VIP Account holders receive: Even lower trading fees: VIP Account holders pay even lower trading fees on all trades. The fee for maker orders is 0.01% and the fee for taker orders is 0.02%. Margin trading with up to 100 times leverage: VIP Account holders can trade with up to 100 times leverage, which can amplify their profits or losses even further. Customer support: VIP Account holders have access to customer support. Other benefits: VIP Account holders may also receive other benefits, such as invitations to exclusive events and airdrops of new tokens. How to open an account? Here are the steps on how to open an account on FTX: Go to the FTX website: You can access the FTX website by visiting https://ftx.com/. Click on the “Create Account” button: This button is located in the top right corner of the website. Enter your email address: You will need to enter a valid email address that you have access to. This email address will be used to verify your account and to receive important notifications from FTX. Create a password: You will need to create a strong password that is at least 8 characters long and contains a mix of uppercase and lowercase letters, numbers, and symbols. Select your account type: You can choose from three account types: Standard, Active Trader, or VIP. The Standard account is the most basic account type and offers the lowest trading fees. The Active Trader account offers lower trading fees and other benefits, such as access to margin trading. The VIP account offers the lowest trading fees and the most benefits, such as dedicated customer support. Provide your personal information: You will need to provide your full name, date of birth, and country of residence. You will also need to create a username and select a profile picture. Verify your identity: FTX requires all users to verify their identity in order to comply with financial regulations. You can verify your identity by providing a copy of your government-issued ID and a selfie. Once you have completed all of these steps, your FTX account will be created. You will then be able to deposit funds and start trading. Leverage FTX offers a variety of leverage levels for its users, depending on their account type and trading activity. The maximum leverage level available to Standard Account holders is 20x, while Active Trader Account holders can use up to 50x leverage. VIP Account holders can use even higher leverage levels, up to 100x. Leverage is a trading tool that allows users to control a larger position with a smaller amount of capital. For example, if you buy 1 BTC with 10x leverage, you are essentially borrowing 9 BTC from FTX to make the trade. This means that you can potentially make a larger profit if the price of BTC goes up, but you can also lose more money if the price goes down. It is important to note that leverage can amplify both profits and losses. This means that you should only use leverage if you understand the risks involved and are comfortable with the potential for large losses. Trading Fees FTX offers a maker-taker fee structure for its users. Makers are users who add liquidity to the market by placing limit orders, while takers are users who remove liquidity from the market by placing market orders. The maker fee for Standard Account holders is 0.02%, while the taker fee is 0.04%. Active Trader Account holders can use a maker fee of 0.02% and a taker fee of 0.03%. VIP Account holders can use a maker fee of 0.01% and a taker fee of 0.02%. FTX also offers a variety of fee discounts for users who trade large volumes. For example, users who trade over 100,000 USDT in a month can receive a maker fee of 0.01% and a taker fee of 0.02%. Non-Trading Fees Describe the Non-Trading Fees ofFTX in paragraphs. Please ensure that the language used is formal and eloquent, longer, avoiding the use of positive terms.) Trading Platform FTX offers a web-based trading platform that allows users to trade a variety of cryptocurrencies and derivatives. The trading platform offers a variety of features, including: Spot trading: Users can trade cryptocurrencies against each other at market prices. Margin trading: Users can trade cryptocurrencies with leverage, which allows them to amplify their profits or losses. Derivative trading: Users can trade a variety of derivative products, such as futures contracts and options. Advanced order types: Users can place a variety of advanced order types, such as stop-loss orders and limit orders. Charting tools: Users can use a variety of charting tools to analyze market data. Trading signals: Users can subscribe to trading signals from third-party providers. Copy trading: Users can copy the trades of other successful traders. The trading platform is available to users in most countries around the world. However, there are some restrictions on the use of the platform in certain jurisdictions. FTX also offers a mobile trading app that allows users to trade cryptocurrencies and derivatives on the go. The mobile app offers a similar set of features to the web-based trading platform, but it is optimized for use on mobile devices. Deposit & Withdrawal FTX offers a variety of methods for depositing and withdrawing funds. These methods include: Bank transfer: Deposits via bank transfer are processed within 3-5 business days. There is a minimum deposit of $100 and a maximum deposit of $250,000 per day. Credit card: There is a 3.5% fee for all credit card deposits. The maximum deposit amount is $2,000 per day. Cryptocurrency: Deposits via cryptocurrency are processed immediately. There are no fees for cryptocurrency deposits. Wire transfer: Wire transfers are processed within 1-2 business days. There is a \$10 fee for all wire transfers. The maximum deposit amount is $100,000 per day. Withdrawals from FTX can be processed in a variety of methods, including: Bank transfer: Withdrawals via bank transfer are processed within 3-5 business days. There is a $10 fee for all bank transfers. The minimum withdrawal amount is $100 and the maximum withdrawal amount is $250,000 per day. Credit card: Withdrawals via credit card are processed immediately. There is a 3.5% fee for all credit card withdrawals. The maximum withdrawal amount is $2,000 per day. Cryptocurrency: Withdrawals via cryptocurrency are processed immediately. There are no fees for cryptocurrency withdrawals. Wire transfer: Wire transfers are processed within 1-2 business days. There is a $10 fee for all wire transfers. The maximum withdrawal amount is $100,000 per day. The specific fees and limits for deposits and withdrawals may vary depending on the payment method and the user's location. For more information, please refer to the FTX Deposit and Withdrawal Fees page. Customer Support Describe the Customer Support ofFTX in paragraphs. Please ensure that the language used is formal and eloquent, longer, avoiding the use of positive terms.) Is FTX suitable for beginners? Oubo Global does not provide specific information about its trading platform, which leaves traders with limited visibility into the features and functionalities of the platform. The trading platform is a vital component of a trader's experience, as it serves as the interface through which trades are executed, market analysis is conducted, and account management takes place. Is FTX suitable for experienced traders? Yes, FTX may be suitable for experienced traders. It offers a variety of features that can be beneficial for experienced traders, such as: Advanced trading tools: FTX offers a variety of advanced trading tools, such as stop-loss orders, limit orders, and margin trading. These tools can help experienced traders manage their risk and make more informed trading decisions. High liquidity: FTX has high liquidity, which means that there are always a lot of buyers and sellers in the market. This can make it easier for experienced traders to execute their trades quickly and at a good price. Variety of markets: FTX offers a variety of markets, including spot markets, margin markets, and derivatives markets. This gives experienced traders more options to choose from and allows them to trade a wider range of assets. Competitive fees: FTX offers competitive trading fees, which can help experienced traders save money on their trades. Mobile app: FTX offers a mobile app that allows experienced traders to trade on the go. However, it is important to note that FTX is a relatively new exchange, and it has not been in operation for as long as some other exchanges. This means that there is less historical data available to analyze, and there is a greater risk of security breaches or other problems. Educational Resources FTX does not offer any educational resources. However, there are a number of third-party educational resources available online that can help you learn about cryptocurrency trading and investing. Conclusion FTX is a cryptocurrency exchange that offers a variety of features, including spot trading, margin trading, and derivatives trading. It also offers a mobile app and a variety of educational resources. However, FTX does not offer any educational resources on its own website. FTX is a relatively new exchange, and it has not been in operation for as long as some other exchanges. This means that there is less historical data available to analyze, and there is a greater risk of security breaches or other problems. Overall, FTX can be a suitable platform for experienced traders, but it is important to understand the risks involved before you start trading. If you are a beginner, you may want to consider using a more established exchange, such as Binance or Coinbase. FAQs Q: What is FTX? A: FTX is a cryptocurrency exchange that offers a variety of features, including spot trading, margin trading, and derivatives trading. It also offers a mobile app and a variety of educational resources. Q: Is FTX safe to invest? FTX is a relatively new exchange, and it has not been in operation for as long as some other exchanges. This means that there is less historical data available to analyze, and there is a greater risk of security breaches or other problems Q: What are the fees for trading on FTX? A: The fees for trading on FTX vary depending on the type of trade you are making. For spot trading, the maker fee is 0.02% and the taker fee is 0.04%. For margin trading, the maker fee is 0.07% and the taker fee is 0.09%. For derivatives trading, the fees vary depending on the type of contract you are trading. Q: What are the supported currencies on FTX? A: FTX supports a variety of currencies, including BTC, ETH, USDT, USD, and EUR. The full list of supported currencies can be found on the FTX website. Q: How can I deposit funds into my FTX account? A: You can deposit funds to your FTX account using a variety of methods, including bank transfer, credit card, and cryptocurrency.

Rating Index

How to login to FTX?
ftx Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a ftx Account Registering for an ftx account is a straightforward process that involves several steps to ensure the security and accuracy of your information. Heres h

  

FTX Broker - Comprehensive Information Guide

  

1. Broker Overview

  FTX, officially known as FTX Trading Ltd., was established in May 2019. The company is headquartered in Antigua and Barbuda, with significant operations in Hong Kong. FTX was a privately held entity, not publicly traded, and quickly grew to become one of the leading cryptocurrency exchanges globally.

  FTX primarily served the cryptocurrency market, targeting both retail and institutional traders. The platform offered a wide array of trading products, including spot trading, futures, options, and leveraged tokens, appealing to a diverse clientele ranging from novice traders to seasoned professionals.

  The company's development trajectory was marked by rapid growth and several key milestones, including significant fundraising rounds and strategic acquisitions aimed at enhancing its regulatory standing. Notably, FTX acquired LedgerX, a regulated derivatives exchange, which allowed it to offer more comprehensive services in the U.S. market.

  In terms of business model, FTX operated as a cryptocurrency exchange that facilitated trading for various digital assets. It also provided institutional services, including over-the-counter (OTC) trading and asset management, which attracted larger trading firms and institutional investors.

  

2. Regulatory and Compliance Information

  FTX was known for its extensive efforts to position itself as a regulated entity in the largely unregulated cryptocurrency market. The exchange claimed to hold licenses from various regulatory bodies, including:

  • Securities Commission of the Bahamas
  • Commodity Futures Trading Commission (CFTC) in the U.S. (through its acquisition of LedgerX)

  However, specific regulatory numbers and the validity of these licenses were often questioned, especially following the company's collapse in late 2022. The exchange's operations were structured to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, requiring users to verify their identities before trading.

  Customer funds were reportedly kept in segregated accounts, although this practice came under scrutiny during the bankruptcy proceedings, as allegations surfaced regarding the misuse of customer deposits for speculative trading activities. FTX's commitment to investor protection was further undermined by the lack of a formal investor compensation scheme.

  

3. Trading Products and Services

  FTX offered a diverse range of trading products, catering to various trading strategies and risk appetites. The exchange provided access to:

  • Over 275 cryptocurrencies, including major tokens like Bitcoin and Ethereum.
  • Futures contracts for numerous digital assets, allowing traders to speculate on price movements.
  • Options trading, giving users the flexibility to hedge or speculate on future price changes.
  • Leveraged tokens, which enabled traders to gain exposure to price movements with increased potential returns.

  FTX was recognized for its innovative products, such as Move Contracts, which allowed traders to bet on the volatility of cryptocurrencies based on price movements over specific timeframes. The platform frequently updated its product offerings, introducing new tokens and trading pairs to meet market demand.

  For retail clients, FTX provided a user-friendly interface and various tools to facilitate trading. Institutional services included dedicated account management and tailored solutions for high-volume traders, enhancing its appeal to professional trading firms.

  

4. Trading Platform and Technology

  FTX utilized a proprietary trading platform designed for both ease of use and advanced trading capabilities. The key features included:

  • Web-based trading platform that integrated with TradingView, offering comprehensive charting tools and real-time data.
  • Mobile applications available for both iOS and Android, allowing traders to manage their accounts and execute trades on the go.
  • Support for API integration, enabling automated trading strategies and algorithmic trading.

  The platform did not support MetaTrader 4 or 5, focusing instead on its in-house solution that catered to a wide range of trading products. The execution model employed by FTX was primarily market-making, facilitating liquidity and efficient order execution.

  FTX's infrastructure was robust, with servers located in secure data centers to ensure high availability and low latency for traders. The platform also implemented security measures such as two-factor authentication to protect user accounts.

  

5. Account Types and Trading Conditions

  FTX offered various account types to cater to different trader profiles, including:

  • Standard accounts with no minimum deposit requirement, allowing users to start trading with minimal capital.
  • VIP accounts for high-volume traders that provided additional benefits, such as lower trading fees and priority customer support.
  • No demo accounts were available, which limited opportunities for new traders to practice without financial risk.

  The trading conditions included competitive spreads, with maker fees starting at 0.02% and taker fees at 0.07%. Leverage options varied by product, with some futures contracts offering up to 101x leverage, although this was deemed risky for inexperienced traders.

  FTX's overnight fees and minimum trade sizes were competitive, although specific details were often subject to change depending on market conditions.

  

6. Fund Management

  FTX supported multiple deposit methods, including:

  • Bank transfers
  • Credit and debit cards
  • Cryptocurrency deposits from various major tokens

  The minimum deposit requirement varied by account type, but many users could start trading with as little as $1. Deposit processing times were generally quick, with most transactions completed within a few hours.

  Withdrawal methods included bank transfers and cryptocurrency withdrawals, with no withdrawal fees charged by the exchange itself, although standard blockchain fees applied. Withdrawal processing times typically ranged from 1 to 3 business days, depending on the method chosen.

  

7. Customer Support and Educational Resources

  FTX provided customer support through various channels, including:

  • Email support
  • Live chat available on the platform
  • Social media channels for broader outreach

  The support team was known for its responsiveness, with average response times generally within a few hours. FTX offered support in multiple languages, catering to its global user base.

  In terms of educational resources, FTX provided:

  • Webinars and tutorials to help users understand trading concepts and platform features
  • Market analysis services, including daily updates and research reports
  • Trading tools, such as calculators and economic calendars to assist traders in their decision-making processes

  

8. Regional Coverage and Restrictions

  FTX primarily served markets in North America, Europe, and Asia, with a significant presence in the cryptocurrency trading community. However, due to regulatory constraints, the exchange did not accept customers from certain regions, including:

  • United States
  • Crimea
  • Cuba
  • Iran
  • Syria
  • North Korea

  The exchange's operations were subject to local regulations, and FTX had to navigate a complex landscape of compliance requirements to maintain its market presence. As the regulatory environment for cryptocurrencies continues to evolve, FTX's ability to adapt to these changes will be crucial for its future operations.

  In summary, the FTX broker represented a significant player in the cryptocurrency exchange market, offering a range of innovative products and services. However, the collapse of the platform in late 2022 raised serious questions about regulatory oversight and the future of cryptocurrency trading.

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Latest Reviews

Riesco

Riesco

Spain

Eleanor Wilson (UK) and Chris Vermeulen (USA). Those are the names of the scammers who promise you big profits. I believed in them because they have a US license and a platform that looks serious. I started with 1k euros, through Binance to FTX Capital Group, saw increases through trading and requested a withdrawal to test, no problem. Then I invested 30k with the promise of having a private analyst (Bruce, from the UK) so as not to take risks trading, everything was going very well, but when requesting a withdrawal they asked me to PAY TAXES with an extra deposit or I could not withdraw. I did not know that I had been scammed, now I am in the process of reporting it to the authorities to recover my funds. I don't know if the identities are real, but she is because we sometimes talk on video calls. BE VERY CAREFUL, YOU ARE INDUCING A SERIOUS PROBLEM. Previously they were Sapere Wealth Management UK which operated with Mivolis Prime and then changed to Cang Limited. They were then purportedly bought by FTX Capital Group. I hope to find a way to get my money back from these thieves

Exposure

2022-11-12

FTX Forex Broker has an overall rating of 1.41, Regulatory Index 0.00, License Index 0.00, Business Index 6.20, Software Index 4.00 Risk Control Index 0.00.