In light of recent liquidity issues, we DO NOT RECOMMEND opening an account with FTX Exchange, and users should AVOID sending/receiving money through FTX Exchange.

FTX and Robinhood are prominent names in the cryptosphere, with a huge fan following.

But it becomes pretty tricky when you want to choose the one platform that would be best suited for your trading strategies and comes at an affordable price.

With so many aspects to consider for a wise decision, it takes hours of research and analysis.

But don’t worry, I am here to do that hard work for you and tell you the best exchange between FTX and Robinhood that would be a better choice.

Let’s begin with some background about these platforms.

Still Can't Decide??

  • Upto 500x Leverage on Cryptos

  • No Deposit or Withdrawal Fees

  • Higher Volume & Liquidity 

  • Cold storage for funds

FTX vs Robinhood: Introduction

FTX

ftx overview

FTX is a comparatively newer platform in the market, but it has grown tremendously in a very short time. In 2019 FTX was established in Antigua and Barbuda. It is a crypto derivatives exchange that offers more than 120 perpetual futures and a massive collection of spot markets.

It offers innovative products, including leverage, options, MOVE and prediction markets. They have an easy-to-use yet robust trading interface with readily available insurance for its users.

HOT Offer: Get $25 on account opening & first deposit using this link to sign up.

Robinhood

robinhood overview

Robinhood Markets, Inc. was established in March 2015 and is based in California. In its early stages, it provided brokerage services, and then later, it started full-fledged trading functionality. There are more than 13 million users currently trading on the platform.  

FTX vs Robinhood: Supported Cryptocurrencies

FTX

FTX supports more than 260 crypto assets, including all the familiar ones like Bitcoin, Ethereum, Dogecoin, Solana, Ripple, etc.

Robinhood

On the other hand, Robinhood supports only 11 crypto coins, including the Bitcoin family, Ethereum family and other altcoins.

Verdict: FTX is the clear winner in this aspect, with comparatively huge crypto offerings.

HOT Offer: Get $25 on account opening & first deposit using this link to sign up.

FTX vs Robinhood: Product Offerings

FTX

  • Futures: FTX offers quarterly and perpetual futures on more than 20 crypto assets. They also have index futures that include large-cap coins (ALT-PERM), mid-cap coins (MID-PERP) and small-cap coins (PRIV-PERP).  Additionally, they provide privacy tokens (PRIV-PERP), exchange tokens (EXCH-PERP) and regional baskets (DRGN-PERP).
  • Leveraged Tokens: FTX currently offers leveraged trading in 45 different tokens, with up to 101x leverage; as a precaution, the maximum leveraged position is set to 10x.
  • Options: You can trade the Bitcoin option using FTX cash that expires in USD. FTX also allows you to buy or sell and Call or Put contracts similar to futures contracts.
  • MOVE Contracts: This functions as expiring futures based on the raw amount BTC moves in a specified period, and the traders gain on the amount of Bitcoin moves regardless of their direction.
  • Spot Markets: FTX allows spot trading in a wide range of crypto assets, as I told you already.
  • Prediction Markets: You can bet on real-world events on FTX’s prediction markets. Your contracts settle at 100% if you win and if you lose 0%.

Robinhood

  • Brokerage
  • ETFs
  • Options Trading
  • Cryptocurrency Trading

Verdict: FTX has far more crypto-intuitive product offerings than Robinhood, making it the winner.

HOT Offer: Get $25 on account opening & first deposit using this link to sign up.

FTX vs Robinhood: Order Types

FTX

  • Stop-Loss: Stop-loss buy orders are sent when the market price exceeds their trigger price, and when the market price drops below the triggered price, Stop-loss orders are sent
  • Take Profit: Take profit buy orders are the opposite; buy orders are sent when the market price drops below their trigger price, and sell orders are sent when the market price exceeds their trigger price.
  • Trailing Stop: They are similar to stop-losses, but their trigger prices change as the market moves.
  • Retry Until Filled: When the account does not have enough margin, price bands during sharp market moves, it prevents market orders from matching against other orders, and the order fails. In these cases, retry until filled is chosen as it may be preferable to retry sending the triggered order until their overall triggered order size is filled.
  • Post Only: When you send a post-only order, your order will not be allowed to take. So if it would provide, it will be sent as a normal limit order, but if it would cross the book, it will be cancelled instead.
  • IOC: Immediate or cancel. Orders are the opposite of post only: they can only take. It will be cancelled if you send an IOC that would not immediately trade.
  • Reduce Only: If you send a reduce-only order, it will only trade if it would decrease your position size.
  • Market: A market order is sent as far through the book as possible. That means if you send a market order to buy 2 BTC-PERP, it will fill you at whatever the lowest offer is for 2 BTC-PERP on the order book, independent of the price.
  • Limit: A limit order is an order sent that will/ buy/ sell up to a specific price. For instance, if you send a limit buy order with a limit price on BTC with a limit price of $10,100, that means you are willing to pay up to $10,100 for BTC.

Your order will trade against any resting offers below $10,100; if it is not fully filled, it will leave out a bid of $10,100 for the remaining size. 

Robinhood

On the other hand, Robinhood also offers a variety of order types however talking about crypto-specific trading, it offers only two kinds of order types, they are: 

  • Market Order
  • Limit Order

Verdict: FTX is a better option for order types with far more selections than Robinhood. Therefore, FTX is a better option in this aspect as well.

HOT Offer: Get $25 on account opening & first deposit using this link to sign up.

FTX vs Robinhood: Fees Comparison

FTX

FTX fee structure consists of two major fees: trading fees and funding rates following the maker/taker model. Let’s discuss them in detail.

  • Trading Fees

Trading Fees on FTX are applicable for spot and futures trading with similar values.

ftx trading fees

  • Funding Rates

Traders pay these rates based on the perpetual contract market price and the spot price. FTX also charges a network and mining fee on all transactions the blockchain network charges.

Robinhood

On the other hand, FTX is a commission-free platform and doesn’t charge fees to open your account, maintain your account or transfer funds to your account.

However, it charges you fees on a subscription basis, depending on the account level.

FTX vs Robinhood: Account Funding Methods

FTX

FTX doesn’t allow fiat deposits; instead, you can deposit BTC, ETH, USDC, Litecoin, etc. If you don’t have crypto in your FTX wallet, you can convert your fiat into crypto and then place an order.

deposit funds to ftx

Robinhood

Robinhood, on the other hand, provides bank transfers and ACH transfers. Additionally, it allows you to set up a direct deposit via your paychecks or tax refunds.

Robinhood also will enable you to set up automatic deposits to set a regular, recurring deposit from your bank account to your Robinhood account.

Verdict: Both the platforms are pretty even in this aspect if comparing them crypto trading-wise. Therefore it’s a tie between them in account funding methods.

FTX vs Robinhood: Trading Platform Comparison

FTX

FTX has both a web portal and mobile platform, both available for all your devices. It comes with a best-in-class robust, and powerful trading interface. It offers a trading view kit feature that provides an insightful derivatives trading experience.

FTX supports all chart types and comes with analysis tools that help in technical and fundamental market analysis.

Robinhood

The mobile-based application has a relatively easy-to-set-up and clean interface with all the functionality you would need to carry out a controlled and informative trade.

The application includes all the basics like watch lists, trading quotes with charts and analyst ratings.

FTX vs Robinhood: Account Types

FTX

FTX follows a tiered structure for its account types based on the KYC levels your account is verified by. There are 3 tiers; Tier 1 requires just registration with essential trading accessibility, whereas Tier 3 requires full-fledged KYC with unlimited trading.

Robinhood

Robinhood has 3 levels of accessibility on its platform. Firstly, when you register, your account will be at the Robinhood Instant level, where you can instantly deposit up to $1,000 and extended trading hours. 

The next level is Robinhood cash, where you can instantly deposit up to the first $1,000. However, you will not have instant deposit access to any amount above $1,000 and trading with unsettled funds from securities you’ve sold.

The next level is the Robinhood Gold which is quite similar to the first level but with margin and more significant instant deposits. To access this level, you need to pay $5/month.

FTX vs Robinhood: How to get started?

FTX

To start trading, register yourself on the platform with your email and choose a secure password. To fund your wallet, activate your account using two-factor authentication using Google authenticator.

To place an order, choose the order type and whether you want to go long or short. Now, you can enter the amount of BTC and click the buy/sell button. To exit the trade, you can either use the manual method or place a stop loss/ take profit order.

HOT Offer: Get $25 on account opening & first deposit using this link to sign up.

Robinhood

To open an account on Robinhood, submit an application in your Robinhood app. Once your application is approved, get verified using your identification documents.

After that, you need to link your bank account with the platform to deposit funds, and you are ready to trade.

To link a listed/major bank in your application:

  • First, tap the account icon in the bottom right corner.
  • Then tap Transfers.
  • Next, tap Linked Accounts.
  • And then tap Add New Account.
  • Choose your bank from the drop-down list of major banks, or use the search bar to search for your bank.
  • Enter your online banking username and password.
  • Choose the account you want to link.

To link a non-listed/smaller bank in your application:

  • First, tap the Account icon in the bottom right corner.
  • Then tap Transfers.
  • Next, tap Linked Accounts.
  • And then tap Add New Account.
  • Scroll down and tap More Banks.
  • Type in your bank.
  • If you don’t see it, tap. I don’t see my bank.
  • Choose checking or savings.
  • Enter your routing and account number.

FTX vs Robinhood: Customer Support

FTX

FTX has a supportive and helpful customer service team and is highly reputed by its users. They provide ticketed service and are readily available 24×7 on various social media platforms like Telegram and WeChat with a quick response time.

Robinhood

Customer support on Robinhood is quite robust; the support is available on their application with a chatbot capability. You can enter your phone number if you have other queries that the bot could help you with. You can also contact them via social media platforms.

FTX vs Robinhood: Security Features

FTX

FTX has bullet-proof security features to ensure its users can trade flawlessly without any threat of security breaches. To do so, they store most of their user funds in offline cold storage. They also have two-factor authentication available by default on the platform.

Robinhood

Robinhood has pretty impenetrable security features as well. You can log in with face or fingerprint recognition or a custom pin. You can opt for two-factor authentication, which is highly encouraged by the platform.

New logins or using an unrecognised device require verification via a six-digit code sent via text message or email. As Robinhood is a member of the Security Investor Protection Corporation (SIPC), it has default protection of up to $500,000 for its user’s security.

  • Is FTX safe?

FTX is undoubtedly a safe and legit platform regulated by various reputed authorities. It comes with bank-like security and ensures the complete safety of its user’s funds. So far, the platform has no cyber breaches or hacks. FTX takes its platform’s security seriously.

  • Is Robinhood safe?

Yes, Robinhood is also a safe platform for exponential trading; as I told you, it has various security features and is insured, making you safe from risks and security breaches. The company is regulated by multiple authorities giving you an extra certificate of its legitimacy.

HOT Offer: Get $25 on account opening & first deposit using this link to sign up.

Conclusion

FTX and Robinhood are pretty similar in their use cases, but when looking into their use cases in detail, it can be inferred that FTX will be a far better deal for you. It is designed on a more trading-specific infrastructure with industry-leading features and products.

FTX can fit a variety of trading strategies. With an affordable and straightforward fee structure as well as state of art security system, FTX is undoubtedly one of the best trading exchanges I have used so far.

Get your hands on FTX and skyrocket your profitability with a controlled and informed trading experience.  

Still Can't Decide??

  • Upto 500x Leverage on Cryptos

  • No Deposit or Withdrawal Fees

  • Higher Volume & Liquidity 

  • Cold storage for funds