FTX US

What Is FTX.US?

FTX.US claims to be “built by traders for traders” and offers instant buying and selling of cryptocurrencies for beginners and advanced trading tools for experienced users. Users can trade spot, margin and crypto derivatives like options and futures. FTX.US also offers a non-fungible token (NFT) platform — users can mint, buy and sell NFTs on Ethereum and Solana. Other FTX.US products include: FTX Card, FTX Pay, OTC trading, FTX Derivatives and Whitelabel.

The exchange is a separate platform not owned by FTX International; it is owned and operated by West Realm Shires Services and provides services to U.S. users that are restricted from accessing the FTX International platform.

FTX.US is regulated in the US on the Federal and State level, holding a variety of licenses (Money Transmitter, Money Service Business, Derivatives Clearing Organization, Designated Contract Market, Swap Execution Facility, Broker Dealer, and others).

Who Are the FTX.US Founders?

FTX is the brainchild of Sam Bankman-Fried and Gary Wang.

Sam Bankman-Fried, more widely known as SBF, is an entrepreneur and investor. He studied at the Massachusetts Institute of Technology (MIT) and graduated with a degree in physics and a minor in mathematics. Before creating FTX, he worked at Jane Street Capital and founded Alameda Research trading firm.

Gary Wang is the CTO of the company. Wang also graduated from MIT, and worked as a software engineer at Google building price aggregation systems, before teaming up with SBF to launch FTX in 2019.

When Did FTX.US Launch?

Due to strict regulations in the United States, the main version of FTX is not available to U.S. residents, therefore in 2020, FTX.US was launched in San Francisco, California.

FTX.US Restricted Countries

The US-based exchange doesn’t register or provide services to accounts of the following countries: Cuba, Crimea, Sevastopol, Luhansk People's Republic, Donetsk People's Republic, Iran, Afghanistan, Syria, North Korea, Antigua and Barbuda. FTX also does not onboard users from Ontario (Canada), New York State (U.S.), Japan and non-professional investors from Hong Kong.

What Coins Are Supported on FTX.US?

Clients have access to over 30 cryptocurrency trading pairs and some fiat pairs. The selection of popular listed coins includes BTC, ETH, LTC, BCH, USDT, SOL, DOGE, LINK, UNI, AAVE.

How Much Are FTX US Fees?

The platform has a tiered fee structure based on trading volume, with a maximum maker fee of 0.10% and taker fee of 0.20% for spot markets.

Deposit and withdrawal fees depend on the transaction method: for wire transfers, fees are $25 for amounts less than $5,000 and free for above $5,000; for ACH, deposits are charged a fixed $0.50 and withdrawals are $1.50; for crypto transfers, all deposits are free while withdrawal fees are free except for ETH/ERC-20 and small BTC transactions.

For NFTs, sellers are charged 2% per trade, while minters are charged $3 to use the self-service mint tool.

Is It Possible To Use Leverage or Margin Trading on FTX US?

Margin trading is available to qualified users with a $100,000 account balance. If this condition is met, a user gets access to up to 10X leverage.

In 2021, FTX.US acquired LedgerX to provide crypto derivatives products to its users. Traders can leverage through products like crypto futures, options and swap contracts.