FTX Australia Review

Exchange Review

 Quick-Take: In this guide, we will show you how to use FTX, the fastest growing cryptocurrency exchange in the world. Users can trade Crypto Futures and Spot, Options, Tokenised Stocks, Leveraged Tokens and much more with low fees on FTX.

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FTX is the fastest growing cryptocurrency investing platform in the world. It is widely considered the best trading platform for experienced investors and traders to use, because it was built by and for traders. Veteran traders prefer to use this exchange because it has the lowest fees and best liquidity for large orders.

The cryptocurrency exchange currently offers trading on options, derivatives, spot markets, leveraged tokens, tokenised stocks and volatility products. FTX has a goal of contributing to the worlds most effective charities and does so by donating 1% of their net income to them. Their platform currently supports 10 FIAT currencies and they are USD, EUR, GBP, AUD, HKD, SGD, TRY, ZAR,CAD, CHF & BRL.

They also recently launched an NFT marketplace on their platform and users can mint, buy, sell and store  NFTs on the FTX exchange.

Table of Contents

Can you use FTX in Australia?

Yes, FTX is available for traders in Australia and investors can deposit via PayID, Osko or Bank Transfer. All mentioned deposit methods are free of cost. It is a reputable, secure, trustworthy and stable platform for spot and leverage trading. The high trading volume and liquidity is ideal for high net worth individuals.

How to use FTX in Australia?

Simply follow the guide below to get started and create an account on FTX:

  1. Click the Register button at the top of the home page.
  2. Create an account and confirm your email address.
  3. Verify your identity to begin investing

FTX Fees

FTX doesn't charge fees on deposits and withdrawals, except for ETH, ERC-20 tokens, or small BTC withdrawals (< 0.01 BTC are charged withdrawal fees after your first free one per day). Traders will need to pay the blockchain fees for all ETH, ERC20 tokens unless they have FTT staked. In which case, they can avoid fees all together. The below table is the Maker and Taker fees that FTX offers it's investors.

30 Day Volume (USD) Maker Fees Taker Fees
0 0.020% 0.070%
> 2,000,000 0.015% 0.060%
> 5,000,000 0.010% 0.055%
> 10,000,000 0.005% 0.050%
> 25,000,000 0.000% 0.045%
> 50,000,000 0.000% 0.040%

Supported Coins

The platform currently supports over 270 cryptocurrencies to trade, buy and sell, which is far more than what most exchanges offer. To see what available cryptos they offer, follow this link.

FTX Card Australia

The FTX Card is a virtual debit card that investors can use at over 1 million online retailers. If the US dollar balance on the card isn't enough, FTX allows users to convert their other coins to cover the purchase. For now, the card is only available as the digital version but hopefully this will change soon.

To top it off, the FTX Visa Card is completely free! FTX does not charge any administrative or processing fees on this card.

Is FTX reliable and safe?

FTX was founded by Silicon Valley and Wall Street experts and is considered the most secure and trustworthy crypto trading platform. It operates in compliance with local regulations in Australia and even has their own manual review system of any large or suspicious transactions to keep customers safe at all times.

Two-factor authentication is mandatory for all traders and can only be disabled by verifying with FTX. There are many security features including IP whitelisting and allowing separate passwords for withdrawal and login. FTX has collaborated with blockchain analysis firm Chainalysis to monitor for suspicious activities on their exchange. It also maintains its own insurance fund.

Best FTX Alternative Australia

If FTX doesn't support the cryptocurrency you wish to invest in, we recommend using CoinSpot. They are Australia's largest and most trusted cryptocurrency exchange with over 350 supported coins available to invest in. They have the largest amount of cryptocurrencies available on an Australian cryptocurrency exchange.

Visit FTX

Author Bio

Timothy Wilson was a former Prop Trader for a notable crypto trading fund based in Hong-Kong. He built BCA after deciding he wanted to focus his career on educating new users about Crypto and DeFi.

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