FTX.US is the U.S.-based arm of the FTX crypto exchange. They offer a variety of investment products and have expanded globally since starting in Hong Kong in 2019. After undergoing a full GAAP audit and obtaining proper licensing, they began providing services to U.S. customers.
FTX.US offers a variety of traditional, digital, and derivative assets including cryptocurrencies, NFTs, and futures contracts. The tools are catered to those more experienced with financial concepts, so beginners may find it difficult to fully appreciate FTX's features. In addition to its state-of-the-art features, FTX is committed to protecting the environment. FTX says it will be carbon neutral within the next year and has designated $1 million to combat climate change.
How you make money
On FTX.US, you make money by buying and trading digital assets, stocks, and derivative contracts. You can use advanced trading to execute orders that fit your investment needs and the quant zone to create rules and deploy smart trades on your behalf. Hedge existing positions with options and futures contracts or mint the next big NFT collection with FTX.
How FTX.US makes money
FTX.US makes a profit through a variety of fees for withdrawals, deposits, mintings, and transacting. Additionally, there's a fee on margin borrowing.
Is it safe?
FTX is one of the fastest-growing trading platforms in the world. The platform originated in Hong Kong, is now based in the Bahamas, and was originally inaccessible for US investors. However, they're building out FTX.US to compete with the likes of Binance and Coinbase for the US market. Recently, FTX.US raised a series C funding round of over $400 Million and stated their valuation now exceeds $8 billion.
FTX.US is compliant with all federal and state regulations and has successfully received a GAAP financial audit. They hold 3 licenses that enable them to offer derivative products in the US: the DCO (Derivatives Clearing Organization), DCM (Designated Contract Market), and SEF (Swap Execution Facility). Their audit program covers money laundering, penetration testing, and vulnerability scanning among other things, and allows them to legally operate in the US.
FTX has never been hacked and, on top of personal account security like passwords and 2FA, uses Chainanalyis to monitor suspicious trades on user accounts. Additionally, they keep a backstop liquidity fund of $200 million to ensure the validity of trades on the platform.