FTX or Binance?

[Tigerheart3026]

i have not used ftx exchange, i heard in this exchange cheap withdraw fees, then i created account btw i can not deposit without kyc.
i submitted kyc before 2 weeks ago btw it's reviewing till now.

[adaseb]

You didn't mention what FTX is exactly you talking about there is FTX exchange and Blockfolio which is recently rebranded to FTX.

I actually only use their app Blockfolio for tracking but never use their investment function or trading function.
I won't trade on FTX if you compared them with Binance(Never heard FTX exchange before just now) so I will choose Binance for safety. I know Blockfolio is known safe but it doesn't mean that using their own trading platform will be also safe.

However, since there are few people here already given some reviews about this I will think a bit to use their trading platform.
Check the big review here https://bitcointalk.org/index.php?topic=5350943
And it seems that they don't ask for a Bitcoin withdrawal fee according to some users?

You never heard of FTX before?

It was created by Sam B Fried the guy is worth like $20B or so. I first heard about him because it was Alamedao research which was a market maker in the day now they got their own exchange. It’s definitely legit .

They also sponsored and got their logo and name on many sporting areas. He is doing a great job in making people aware of crypto.

[ashmodeus]

still binance , smooth , fast , mobile app also quick and easy , not like gate io or kucoin which a bit lagging when u trade, about fees, yep , some people on my group says fee on FTX is less cheaper, maybe later time,binance will change the fee because i am sure binance already heard that complaint.

[suryogandul]

ftx is more suitable only for transit because ftx exchange fees are very cheap compared to other exchanges. but for trading I still choose binance because the completeness, features and other binance is better than FTX. because FTX can be said to be one of the new exchanges that is currently experiencing popularity development

[Snappycoco]

Well lots of issues are being thrown to Binance these days like locking of account without any prior warnings hence locking up funds. Personally, I haven't encountered these accusations but lots of proofs were available. Another thing to be considered in choosing between the two is volume. Binance is far ahead in terms of volume. Its 39B$ daily volume is far ahead to FTX 3.7B$. Nonetheless, im pretty comfortable with binance. I don't know but for me its far superior in terms of volume and activity. But, FTX CEO vision is much profound than Cz. His mission to help others and not to enrich himself is quite rare these days.

[smartaction]

Binance is much better for trading. I always use Binance for Spot and Furure trading. now a days FTX is also a better exchange and lot of people use FTX now, for trading and holding there crypto-currency. specially people use FTX for holding crypto-currency. Coz of FTX always charge low withdraw fees for all crypto-currency coin and token then another Exchanger like Binance, kucoin, gate.io and others

[Taskford]

So I've migrated to FTX basically because my impression is that the counterparty risk is considerably less... ie SBF seems less sketchy than CZ. Not sure if my instincts are right about this, but I am willing to hear any opinions about the matter.

But I have to be honest, I MUCH prefer the Binance trading terminal layout, especially for margin trading. I have yet to do any margin trading on FTX, but it looks like you have to open an entirely new window to see your liquidation price. And what about the Repay feature? How does it work with FTX, do they just automatically repay when the trade hits your Take Profit?

Why choose one if you can trade on both platform? both of them is good exchange and for sure there are coins listed on FTX doesn't been listed on binance yet so maybe its good to explore on good markets. But if you like binance more than any other exchange then better stick on what you believe since its undeniable that binance is the top 1 exchange and we can really trust them in terms of technicalities and in security aspects.

[Pffrt]

You didn't mention what FTX is exactly you talking about there is FTX exchange and Blockfolio which is recently rebranded to FTX.

Blockfolio was occupied by ftx earlier this year if I can remember correctly. Ftx is one of the rising popular exchange this days though I don’t personally like their UI. However, they have made a great progress. Their acquisition of Blockfolio app proved that they are getting serious with great mission vision.
If I'm to compare the feature OP mentioned, I would easily pick Binance.

[Reid]

Never heard of FTX so I will stay with the usual which is Binance.
Now, even if by some reason a bad event happens that makes Binance the worst exchange ever, it won't be that FTX which is next on line.
There are more exchange that have the upper hand than new ones. First and may be the last of those reasons will be it's trust rating in the crypto community.
I might pick Kucoin next to Binance which is my back up exchange center.

[Ararbermas]

I don't have any experience in FTX since binance is more popular here in my country. So what i can share here is only a feedback for binance.  And yes what i love with binance is we can easily trade our fiat to usdt  if we want fill our account to trade using their features, unlike other platforms thay you need to used crypto based wallet to transfer a capital.. Also including the fees wherein so affordable, perhaps that's the reason why most people here in our country always used binance when it comes trading crypto. 

[2double0]

I never margin traded at FTX but did futures trades there.

What I liked -
Quick execution
Low spreads so I don't need to wait longer to get into profits
Less fees in trading

What I didn't like -
Liquidation price is not too far (may be this is for our account's financial standings to keep some funds remaining after early liquidation).

Moreover, I like how they didn't charge me anything when I withdrew all types of cryptocurrencies including btc and even eth (only 1 free withdrawal per day allowed for eth or any erc20 tokens). Meanwhile, you can stake FTT as shown in the table (scroll a bit) to get more free eth and erc20 withdrawals daily.

[tippytoes]

I never margin traded at FTX but did futures trades there.

What I liked -
Quick execution
Low spreads so I don't need to wait longer to get into profits
Less fees in trading

What I didn't like -
Liquidation price is not too far (may be this is for our account's financial standings to keep some funds remaining after early liquidation).

Moreover, I like how they didn't charge me anything when I withdrew all types of cryptocurrencies including btc and even eth (only 1 free withdrawal per day allowed for eth or any erc20 tokens). Meanwhile, you can stake FTT as shown in the table (scroll a bit) to get more free eth and erc20 withdrawals daily.

I think, that's their attractive feature here, no withdrawal fees. And even with eth, they are at least allowing 1 free transaction which is already good for those who are avoiding expensive fees. However, when it comes to KYC aspect, you need to undergo also compulsory KYC before you can deposit and trade, which is no difference with Binance now. But do they have SAFU like binance, some sort of insurance to users?

i have not used ftx exchange, i heard in this exchange cheap withdraw fees, then i created account btw i can not deposit without kyc.
i submitted kyc before 2 weeks ago btw it's reviewing till now.

Also, this one, binance has faster approval of KYC. 2 weeks is a long wait. Do they say any reason why such long process?

[rhomelmabini]

I never margin traded at FTX but did futures trades there.

What I liked -
Quick execution
Low spreads so I don't need to wait longer to get into profits
Less fees in trading

What I didn't like -
Liquidation price is not too far (may be this is for our account's financial standings to keep some funds remaining after early liquidation).

Never have any as well on the FTX exchange are they mainly focus on derivatives, am I right? I think it's nice exchange to have if you are into futures and margins only but for some folks that doesn't want some high risk type of trading better to use Binance. That less fee on trading or having free 1 withdrawal a day is the best thing to hook new users or margin and futures traders.

[martina14]

So I've migrated to FTX basically because my impression is that the counterparty risk is considerably less... ie SBF seems less sketchy than CZ. Not sure if my instincts are right about this, but I am willing to hear any opinions about the matter.

But I have to be honest, I MUCH prefer the Binance trading terminal layout, especially for margin trading. I have yet to do any margin trading on FTX, but it looks like you have to open an entirely new window to see your liquidation price. And what about the Repay feature? How does it work with FTX, do they just automatically repay when the trade hits your Take Profit?

According to the coinmarketcap https://coinmarketcap.com/currencies/fintrux-network/ the volume daily was around 6k$ to 7K$ something,
But I don't understand, to some of the coins listed over this platform just like Bitcoin its volume was huge according to it, maybe it is only for the FTX trading pair itself, but I don't see the FTX ticker name over this exchange actually it was FTT appeared instead of FTX.

[Tigerheart3026]

I never margin traded at FTX but did futures trades there.

What I liked -
Quick execution
Low spreads so I don't need to wait longer to get into profits
Less fees in trading

What I didn't like -
Liquidation price is not too far (may be this is for our account's financial standings to keep some funds remaining after early liquidation).

Moreover, I like how they didn't charge me anything when I withdrew all types of cryptocurrencies including btc and even eth (only 1 free withdrawal per day allowed for eth or any erc20 tokens). Meanwhile, you can stake FTT as shown in the table (scroll a bit) to get more free eth and erc20 withdrawals daily.

I think, that's their attractive feature here, no withdrawal fees. And even with eth, they are at least allowing 1 free transaction which is already good for those who are avoiding expensive fees. However, when it comes to KYC aspect, you need to undergo also compulsory KYC before you can deposit and trade, which is no difference with Binance now. But do they have SAFU like binance, some sort of insurance to users?

i have not used ftx exchange, i heard in this exchange cheap withdraw fees, then i created account btw i can not deposit without kyc.
i submitted kyc before 2 weeks ago btw it's reviewing till now.

Also, this one, binance has faster approval of KYC. 2 weeks is a long wait. Do they say any reason why such long process?

right binance approved my kyc in few minutes, i'm little bit surprised to see very faster kyc process.
i tried to contact in ftx support btw i did not response may be. taken over 2 weeks btw still identity isn't verified,
i never seen in other exchanges.

[Findingnemo]

FTX is taking their advertising to next level that is why you even started to compare it with Binance but still Binance is bigger meanwhile there are some reasons for people to chokse FTX over Binance due to the recent mandatory KYC policy change on Binance but FTX won't take that much longer to make it as mandatory.

[teosanru]

So I've migrated to FTX basically because my impression is that the counterparty risk is considerably less... ie SBF seems less sketchy than CZ. Not sure if my instincts are right about this, but I am willing to hear any opinions about the matter.

But I have to be honest, I MUCH prefer the Binance trading terminal layout, especially for margin trading. I have yet to do any margin trading on FTX, but it looks like you have to open an entirely new window to see your liquidation price. And what about the Repay feature? How does it work with FTX, do they just automatically repay when the trade hits your Take Profit?

In the recent crash scenarios, Binance has so many times proven to be very shady, one shady thing that they do is the instant crashing of Binance terminal whenever the market crashes, the second shady thing is how Price always dumps more on Binance than it does on any other exchange which means unnecessarily liquidation points of many people get hit despite overall market not even going into that area. I think FTX is a better exchange overall and will become very popular in the future, the only problem currently they have is less number of listed markets and secondly slightly lesser liquidity than Binance, with the aggressive marketing strategies they will soon become the number 1 exchange.

[Sirait]

sorry in advance, have you really never heard about FTX?  it really doesn't make sense to me. for now binance is still superior to FTX but in the long run I'm sure FTX will be able to shift the dominance of finance. I currently use FTX more because it's very simple imo compared to binance, besides that the fees on FTX are very cheap.

FTX continues to be developed and the potential is really huge.

[mistereverything]

binance for the win if your not in a country that it's illegal to use certain features 

[Vaskiy]

sorry in advance, have you really never heard about FTX?  it really doesn't make sense to me. for now binance is still superior to FTX but in the long run I'm sure FTX will be able to shift the dominance of finance. I currently use FTX more because it's very simple imo compared to binance, besides that the fees on FTX are very cheap.

FTX continues to be developed and the potential is really huge.

Binance will serve to be the superior for all the exchanges due to its continued development and the lunch of new features along with the exchange service. FTX is very new in the market and it requires time to be compared with Binance. Right now FTX is seen much on the T20 World Cup advertising. For its low fee it has been gaining importance. Not the fee alone matters, there is far more things when we consider using a new platform.