FTX and Huobi are two of the most popular cryptocurrency exchanges in the world. Both the exchanges own hefty market shares with various trading products and huge crypto offerings.
I know it becomes very confusing when it comes to choosing one among them but don’t worry; I will differentiate them for you so that you can choose the one platform that will fit your trading needs.
Let’s begin with some background about the two.
FTX vs Huobi: Introduction
It is a global cryptocurrency exchange founded in 2019 and established in Antigua and Barbuda. FTX offers a wide-ranged spot market and more than 150 perpetual features.
Whereas Huobi was founded in 2013, it is a Beijing-based cryptocurrency trading platform. In 2017 due to some regulatory changes, the company incorporated into Seychelles and set up a new headquarter in Singapore. Huobi is currently available in more than 100 countries.
FTX vs Huobi: Supported Cryptocurrencies
FTX supports 264 crypto assets currently to trade with; they include Bitcoin, Ethereum, Dogecoin, Solana, Ripple etc. You just name it; they are all available.
When it comes to Huobi, it’s one step ahead with more than 300 crypto assets available on the platform, with all the major ones like Bitcoin, Ethereum, Dogecoin, Cardano, etc. So, there’s a high probability that you will find the crypto coin you want on Huobi readily available.
Verdict: Huobi might be a better option when it comes to supported cryptocurrencies on the platforms, therefore making it the winner in this segment.
FTX vs Huobi: Product Offerings
There are a bunch of products that are offered on FTX. They are:
- Futures Trading: FTX has quarterly and perpetual futures offerings with more than 20 crypto assets. They have index futures that include large-cap, mid-cap and small-cap coins. They also provide privacy, exchange and regional tokens.
- Leveraged Tokens: FTX allows up to 101x leverage on 45 different tokens, but as a precaution, the maximum leverage is set to 10x.
- Options Trading: Using FTX cash, you can trade Bitcoin options allowing you to buy/sell or call/put contracts similar to futures contracts.
- MOVE Contracts: This functions similarly to expiring futures based on the raw amount of BTC moves in a specified period. Traders profit on the amount of BTC moves regardless of their direction.
- Spot Trading: FTX also allows spot trading in a wide range of crypto assets.
- Prediction Markets: Through this market, you can bet on real-world events where contracts settle at 100% if you win and 0% if you lose.
Huobi is also nowhere behind when it comes to product offerings. The products offered on the platform are:
- Spot Trading: Huobi also supports spot trading on various crypto assets with multiple order types that you can use to boost your profitability.
- Margin Trading: The margin-tiered loan limit depends on the token you trade and the level to which your account belongs.
- Trading Bot: Huobi also allows automated trading products through a trading bot where your trades are automatically carried out based on the set parameters.
- Derivatives Trading: They are accessible quite easily on the main window itself and can be used with a variety of crypto pairs and can be combined with various products as well.
- Options Trading: Huobi offers both call/put options which can be combined with the platform’s provided tools as well based on your trading strategies.
Verdict: Both the exchanges have similar product offerings. Yes, there are prediction markets on FTX and a Trading bot on Huobi, but it depends on your trading requirement, and which of the two you choose; therefore, it’s a tie between them in this segment.
FTX vs Huobi: Fees Comparison
- Trading Fees
The trading Fees on FTX follow a maker/taker fee model. The market maker appears on the order book, adding liquidity to the market. In contrast, the market taker doesn’t go to the order book and gets immediately executed, taking away the market’s liquidity.
The spot and futures trading fees follow the same structure and are mentioned in the table below:
- Deposit and Withdrawal Fees
There is no deposit and withdrawal fee charged on FTX. However, there is a limit of USD 1,000 set for withdrawals of non-KYC users. Additionally, a network and mining fee is applied to all transactions charged by the blockchain network.
- Funding rates/Fees
Traders pay these rates based on the difference between the perpetual contract market price and the spot price.
Huobi classifies its users into normal and professional users and sub-categorizes the fee structure into tiered levels. Users under a 30-day trading volume of less than 1,000 BTC are normal users, and more than that are categorized as professional users.
You can refer to the following tables for an insight into their spot trading fees.
Normal Trader Tiered Fee Program
|Type||Level||30-day trading volume (BTC)||Base fee rate||HT holdings||Fee Rate (in HT)||Effective Discount|
|Normal users||1||< 1000 BTC||0.2000%||≥10HT||0.1800%||10%|
Professional Trader Tiered Fee Program
|Type||Level||30-day trading volume (BTC)||HT holdings||Tiered fee rate|
|Both Conditions Required||Maker||Taker|
|Professional Users||1||≥700 BTC||≥2,000 HT||0.0362%||0.0462%|
|2||≥1,000 BTC||≥2,000 HT||0.0294%||0.0420%|
|3||≥3,500 BTC||≥2,000 HT||0.0294%||0.0378%|
|4||≥7,000 BTC||≥2,000 HT||0.0252%||0.0336%|
|5||≥10,000 BTC||≥2,000 HT||0.0224%||0.0308%|
For Huobi’s futures trading fees, refer to the table below:
Verdict: Clearly, FTX has a more economical and simple price structure, making it the winner in this segment.
FTX vs Huobi: Account Funding Methods
FTX doesn’t support fiat currencies; instead, you can deposit BTC, ETH, USDC, Litecoin and many more, and if you do not have crypto in your account, you’ll need first to convert your fiat currencies into crypto, and then you can place an order.
Huobi accepts fiat currencies, though not all deposit methods are supported for all the currencies; for instance, EUR deposits are supported on credit/debit cards, for EUR balance, SEPA and IDEAL are the payment options.
In the case of USD, only credit/debit cards are available, and INR is supported by credit/debit cards, UPI as well as bank transfers.
Verdict: Clearly, Huobi wins this segment as they support Fiat currencies, unlike FTX.
FTX vs Huobi: Trading Platform Comparison
FTX trading platform is available for all your devices, whether they are iOS or Android supported mobile phones or Windows or Mac PC. FTX also has some of the best-in-class features to offer. One of which is the trading view kit which provides an insightful derivative trading experience.
FTX has a clean yet subtle interface which supports almost all chart types and comes with built-in analysis tools that helps in technical and fundamental analysis of the market.
Huobi has two charting systems for trading, a proprietary system and TradingView. Both are equally great. However, its TradingView has more features than a proprietary system. The terminal has also a watchlist on the left where you can mark your favourite pairs to access them from the quick menu.
Below the chart is the order form to place orders like limit, market, stop-limit and trigger. The right-hand side of the terminal has the order book and live trades. The bottom-most area shows open orders and history. In the order form, 3x long, 3x short, 5x margin and credit card orders.
Huobi also provides mobile platforms for Android and iOS devices with the desktop platform.
Verdict: FTX interface is my favourite as it comes with many tools and features, yet it is designed in a simple yet subtle way, with all the features accessible at your fingertips.
FTX vs Huobi: Account Types
FTX follows a tiered account accessibility structure. As you complete different KYC levels, the accessibility and limits increase subsequently. There are 3 Tiers for the accounts on FTX. The final level requires most of the user’s details and unlocks all the features and options.
Huobi follows a similar account accessibility structure and has four verification levels. When you register, you will be at level 1, where you won’t be able to make any deposits or withdrawals. To do so, you must upgrade to at least Level 2 to start trading and investing.
You can even upgrade to the levels further to get access to limitless trading and all the features that Huobi offers.
FTX vs Huobi: How to get started?
Start by registering yourself on the platform using your email ID and password. If you want to add funds to your wallet, activate your account using two-factor authentication using Google authenticator.
To place an order, you must choose whether to go long or short and select the order type. Now, enter the amount of BTC you want to purchase and click on the Buy or Sell button. When you want to exit the trade, you can either go by the manual option, place a stop loss, or take profit order.
Register yourself on the platform using your email address and password to open an account. Then get your email ID verified using the email confirmation you’ll receive on the email. Then you need to fill in the registration form and confirm your identity, and then you can trade as soon as you fund your account using the method of your choice.
FTX vs Huobi: Customer Support
FTX offers a supportive and very knowledgeable customer service team, highly reputed by its users. They provide ticketed service and are readily available on Telegram and WeChat with a quick response time.
In the case of Huobi, they have a comprehensive FAQ section with a blog that compiles the latest news, guides and articles. Huobi has a helpful and quick customer service portal where you can raise tickets for all your queries.
FTX vs Huobi: Security Features
FTX implements various security features on its trading platform to provide users with a safe, secure and seamless trading experience. They store the majority of their user funds in offline cold storage. They have two-factor authentication readily available on the platform and offer insurance to protect traders from significant cases of price volatility losses.
Huobi is also a solid platform with robust security features. It stores most of the user’s funds in cold storage wallets and implements features like two-factor authentication, SSL encryption, IP allow listing and even more.
- Is FTX safe?
Yes, FTX is one of the most reputed cryptocurrency exchanges in the world and is completely safe and regulated. In addition, it implements bank-like security features to ensure the safety of users’ funds and personal information.
So far, there haven’t been any security breaches or hacks at FTX. With the security and insurance features, you expect a safe and secure crypto trading derivative environment and experience on FTX.
- Is Huobi safe?
Huobi is also a secure crypto exchange platform with a solid track record and has never been hacked so far, and the exchange had even helped Bitmart when it lost millions of dollars to hackers.
The team pays very close attention to security and user experience. Hence, there’s no need to worry about security risks.
I must say, it was a very close call between FTX and Huobi. But as you already would have realised, FTX is a slightly better option.
With better security features and a more affordable fee structure, FTX is undoubtedly the winner and a better option for trading. And trust me on this, when it comes to the utility of its interface, then there is no comparison for it.
I highly recommend you to try this fantastic feature-rich platform and boost your profitability with FTX.
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