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FTX Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!

FTX Broker Review

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FTX Review 1

Latest All(1) Exposure(1)
Exposure
They steal the funds

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

Riesco
2022-11-12

  

FTX 2025 Review: Everything You Need to Know

  FTX, once heralded as a leading cryptocurrency exchange, has faced significant scrutiny and turmoil in recent years. The platform, which began operations in 2019, has garnered both praise for its innovative products and criticism for its lack of regulation and transparency. This review synthesizes various sources to provide a comprehensive overview of FTX, highlighting user experiences, pros and cons, and expert opinions.

  Note: It's crucial to understand that FTX operates under different entities across regions, which may impact user experience and regulatory oversight. This evaluation aims for fairness and accuracy by considering these factors.

  

Ratings Overview

Category Rating (out of 10)
Account Conditions 3
Tools and Resources 5
Customer Service and Support 2
Trading Setup (Experience) 4
Trust Level 1
User Experience 3
Additional Rating -

  How We Rate Brokers: Our ratings are based on a comprehensive review of various factors, including user feedback, expert analysis, and factual data regarding the broker's offerings.

  

Broker Overview

  Founded in 2019, FTX was designed as a cryptocurrency derivatives exchange, offering a range of trading products including futures, options, and leveraged tokens. The platform is known for its user-friendly interface and advanced trading features but has faced serious allegations regarding regulatory compliance and customer fund management. Notably, FTX has no valid regulatory oversight, which has raised significant concerns among users and experts alike.

  

Detailed Breakdown

  

Regulatory Status

  FTX operates without proper regulation, which is a significant red flag for potential users. While it claims to be registered in Antigua and Barbuda and has a presence in the Bahamas, it lacks oversight from major financial regulatory bodies such as the SEC or FCA. This unregulated status has led to serious concerns about the safety of customer funds and the platform's legitimacy.

  

Deposit/Withdrawal Currencies

  FTX supports a variety of fiat currencies including USD, EUR, and GBP for deposits. However, withdrawal options are limited, and users have reported difficulties in accessing their funds, especially during the liquidity crisis that led to the platform's bankruptcy in late 2022.

  

Minimum Deposit

  The platform does not impose a minimum deposit requirement, which can be appealing for new traders. However, this lack of a barrier to entry may also attract less experienced traders who may not fully understand the risks involved.

  

Bonuses/Promotions

  While FTX has previously offered promotions and incentives, the current state of the platform suggests that such offers may no longer be available or reliable given the ongoing bankruptcy proceedings.

  

Tradable Asset Classes

  FTX allows trading in various asset classes, including cryptocurrencies, forex, and commodities. However, the focus has primarily been on crypto derivatives, which can be complex and carry high risks.

  

Costs (Spreads, Fees, Commissions)

  FTX employs a tiered fee structure based on trading volume, with maker fees starting at 0.02% and taker fees at 0.07%. However, users have reported hidden fees and unexpected charges, further complicating the cost structure.

  

Leverage

  The platform offers high leverage options, up to 101x on certain products. While this can amplify profits, it also significantly increases the risk of substantial losses, making it unsuitable for inexperienced traders.

  

Allowed Trading Platforms

  FTX provides a web-based trading platform and mobile apps for iOS and Android. The platform is designed to be user-friendly but may overwhelm beginners due to the complexity of the products offered.

  

Restricted Regions

  FTX has restricted access to users in the United States and several other countries, limiting its global reach and availability. This is a significant drawback for traders looking for a comprehensive trading platform.

  

Available Customer Support Languages

  Customer support has been a major point of criticism for FTX. While the platform offers support in multiple languages, users have reported long wait times and unresponsive service, particularly during critical periods when assistance is needed most.

  

Repeated Ratings Overview

Category Rating (out of 10)
Account Conditions 3
Tools and Resources 5
Customer Service and Support 2
Trading Setup (Experience) 4
Trust Level 1
User Experience 3

  

Detailed Analysis

  •   Account Conditions: The absence of regulatory oversight significantly impacts user trust. Reports of withdrawal issues during the liquidity crisis have left many users feeling vulnerable.

  •   Tools and Resources: FTX offers a range of advanced trading tools, but the complexity may not be suitable for novice traders. The lack of educational resources further complicates the user experience.

  •   Customer Service and Support: The customer service has been rated poorly due to long response times and unhelpful interactions. Users have expressed frustration, especially during withdrawal attempts.

  •   Trading Setup (Experience): While the interface is polished, the overwhelming number of options may intimidate new users. Experienced traders may find the tools useful but should be cautious of the risks involved.

  •   Trust Level: The lack of regulation and the recent bankruptcy proceedings have severely damaged FTX's reputation. Users are advised to exercise extreme caution.

  •   User Experience: Overall, the user experience on FTX is mixed. While the platform offers advanced features, the lack of support and regulatory oversight detracts from its appeal.

  •   In conclusion, the FTX review reveals a platform that, despite its innovative offerings, is marred by significant trust issues and user dissatisfaction. Potential users should carefully consider these factors before engaging with the platform.

FTX review