The high number of cryptocurrency exchanges can be overwhelming when deciding which one to use. Things get even more hectic when you have to choose between two relatively similar and top-rated exchanges like FTX and Huobi.
FTX is a highly advanced crypto derivative trading platform that supports hundreds of digital assets. The exchange was founded in 2019 and currently has over one million registered traders and an average daily trading volume of over $10 billion.
Huobi has been around since 2013. The exchange supports some of the largest cryptocurrencies in the world by market capitalization. Also, it has more than 15 million registered traders, and its daily trading volume averages at over $5 billion.
Here is a side-by-side comparison of these two top-tier exchanges.
FTX vs Huobi: Spot Trading
FTX and Huobi have some highly liquid and robust spot trading markets that support hundreds of digital assets. Both will be a good option for any trader looking for a reliable platform for buying and selling different crypto assets.
FTX supports around 300 different cryptocurrencies for their spot market, including Bitcoin (BTC), Ether (ETH), Solana (SOL), and Ripple (XRP). The platform has over 100 spot trading markets to cater to all kinds of traders.
Crypto investors on the FTX platform can also use margin when trading. FTX allows traders to open spot margin positions with a maximum leverage of 20x. Also, traders can go long on all spot assets and go short on the top digital assets on the platform.
Huobi has one of the largest digital assets offering in the market. The exchange supports more than 400 cryptocurrencies and allows traders to form hundreds of trading pairs for their spot market.
The crypto exchange platform supports spot trading with margin. Traders can use maximum leverage of 3X for top digital assets like BTC and ETH. Also, they are now offering a trading bot and OTC for their spot market.
FTX vs Huobi: Margin & Derivatives Trading
Traders looking for higher returns than the spot market can offer should try crypto derivatives. Both FTX and Huobi have high-performing derivatives markets and allow traders to open leveraged positions for amplified earnings.
FTX allows traders to trade derivatives with a maximum leverage of 20x. Their product offering includes futures, leveraged tokens, and volatility products.
Traders can trade over 250 futures contracts in both quarterly and perpetual settlement options. Their leveraged tokens are ERC20 assets that give traders leveraged exposure to the crypto market, while their volatility products include MOVE contracts and BTC options.
FTX also has a prediction market that allows traders to predict the outcome of real-world events and earn if they are right.
Huobi has one of the highest margins for its crypto derivatives markets. The exchange allows traders to open leveraged positions with a maximum margin of 200x. The high leverage is available for BTC and ETH futures contracts. Also, Huobi users can adjust the margin depending on their specific preferences and needs.
Their derivatives contracts on Huobi include coin-margined futures, USDT-margined futures, and coin-margined swaps. Traders can also go long or short on their futures contracts.
FTX vs Huobi: Trading Fees for Spot & Derivatives
Each trade you execute on any crypto trading platform will attract a fee, which can eat up a significant percentage of your investment if it is too high. Trading fees can be pretty substantial for traders who execute many trades, so it is essential to understand them before using any platform.
FTS uses a market maker-taker fees model to charge transaction fees for both their spot and derivatives market. This structure also classifies the traders depending on their 30-day trading volume.
New traders on the platform and those with zero trading volume pay the highest maker and taker fees which are 0.02% and 0.07%, respectively. Those with over $50 million trading volume do not pay any maker fees, and their take fees are just 0.04%.
FTX will also give traders a discount on trading fees if they hold their FTT native token and use it to pay the fees when trading.
Huobi uses the maker-taker system like most other exchanges and has a tiered structure. However, the exchange further categorizes the traders into standard and professional clusters with different trading fees for the two categories.
Trading fees for low-volume traders will start at 0.2% and will keep reducing when you hold more Huobi tokens. For example, users with 5,000 Huobi tokens get a discount of up to 65% as they only pay 0.07% per transaction.
Fees for professional traders start at 0.0362% and 0.0462% for traders with a 30-day trading volume of over 700 BTC and over 2,000 Huobi token holding.
FTX vs Huobi: Mobile App
Top crypto exchanges like FTX and Houbi make it possible for traders to execute trades on the go by providing mobile apps. However, the apps differ in a few aspects, which you should consider when picking between the two exchanges.
The FTX mobile is available in Android and iOS versions, and its dashboard offers the same dashboard experience as the desktop platform. Traders can view all their account information on their mobile devices, check their holdings, and buy, sell, or trade their digital assets.
Huobi provides a mobile app for iOS and Android users that gives them access to all the functionalities they get when using their desktop platform. Additionally, the mobile apps provide a 24/7 live chat function that is unavailable on the desktop app.
FTX vs Huobi: Opening Account & Account Limits
Top crypto exchanges will often have account limitations depending on your verification status. Some will also not allow you to do anything on the platform before verification.
It is essential to understand the specific requirements of any platform you intend to use to avoid disappointments.
FTX makes it mandatory for traders to prove their identity before using their platform. Although you can still sign up, you will only be able to explore the site or check for jurisdiction as you cannot deposit, trade, or withdraw without verification.
There are two tiers of verification on FTX. Tier 1 verification requires you to enter your full names provide your date of birth and country. Once you get the verification, you can use the platform with a daily withdrawal limit of $2,000.
You will need to provide your identification documents and proof of address to get tier 2 verification. Additionally, you also need to do facial verification, and once you get verified, your account will not have any limits for crypto and fiat deposits or withdrawals.
How to Open FTX Account
- Go to the FTX homepage, ftx.com
- Fill out the registration form by entering your email and password
- Verify your email
- Setup 2FA to secure your account
- Do KYC verification to start trading
Huobi is a non-KYC platform, meaning you can trade anonymously. However, verifying your account will increase your withdrawal limits and remove other restrictions from your Huobi account.
Non-verified users can deposit up to $1,000 per transaction and withdraw a maximum of 0.06 BTC per day.
How to Open an Huobi Account
- Go to huobi.com and click “Sign Up”
- Confirm your country and choose whether to register by email or phone
- Enter your email and a password
- Agree to user agreement/private policy
- Click “Sign Up”
- Verify your email
- Start trading!
FTX vs Huobi: Ease of Use & Interface
Most crypto exchanges make their trading platforms as simple as possible to cater to various traders. Although the ease of use is subjective and is highly dependent on your experience level, how the interface appears and the tools available have a huge impact on the trading experience you get.
FTX designs the trading interface for its mobile and desktop applications with beginners in mind. The trading interfaces are intuitive and straightforward to ensure there is not much learning curve, even for absolute newbies.
Besides the ease of use, FTX also makes the interface customizable by allowing traders to move the panels around to create a layout that suits them best.
Moreover, FTX uses TradingView to allow traders to access the most common trading indicators and multiple chart times. Also, placing an order is very straightforward as the exchange provides several order types and not just the basic ones like limit and market orders.
Huobi provides a clean and simple trading interface that should still be pretty easy enough to figure out even for absolute newbies. However, their trading interface is not as simple as what you get from FTX.
Instead, the exchange provides an advanced trading experience for the more experienced crypto traders. Traders get access to some highly interactive charts that make it easy to track market movements. Also, they can use several order types when executing their trade, including limit, market, and stop orders.
FTX vs Huobi: Security Features
There have been many cases of crypto exchanges getting hacked and trader assets stolen over the years. Although most exchanges recover the funds or compensate the traders, you should not take chances with the security when picking a trading platform.
FTX enforces mandatory KYC verification to help weed out scammers from the platform. Also, it uses other security features like 2FA and options withdrawal passwords to help secure user accounts.
Other security features include a full external backing of all hot wallets and storing most user assets in secure offline cold storage.
Huobi implements most of the security features that you would get in all top-tier crypto exchanges out there. They include 2FA and require identity verification for traders to get large deposit/withdraw limits.
The crypto exchange also stores most assets in offline cold storage where hackers cannot access them. Huobi has a 20,000 BTC reserve in cold storage to pay back users if something goes wrong.
FTX vs Huobi: Customer Support
When it comes to customer support, Huobi is the clear winner. Unlike FTX, the exchange provides live chat to allow for a speedy resolution of issues. Additionally, they also have email help tickets and a dedicated helps center with a lot of valuable materials.
FTX does not have a live chat, meaning a support ticket is the only way to reach them. They often respond to most queries in just a few hours. Also, you can get assistance on their social media channels as they have some highly active communities, especially on Telegram.
Your choice of crypto exchange will ultimately depend on your preferences and the products you want to trade.
That said, you can be sure of ending up with a reliable exchange whether you pick FTX or Huobi. However, FTX seems to have the edge over Huobi in many aspects.
FTX offers more products for their derivatives market, has one of the most intuitive trading interfaces, and has lower trading fees even for low-volume traders.
- 1 FTX vs Huobi: Spot Trading
- 1.1 FTX
- 1.2 Huobi
- 1.3 FTX vs Huobi: Margin & Derivatives Trading
- 1.4 FTX vs Huobi: Trading Fees for Spot & Derivatives
- 1.5 FTX
- 1.6 Huobi
- 1.7 FTX vs Huobi: Mobile App
- 1.8 FTX
- 1.9 Huobi
- 1.10 FTX vs Huobi: Opening Account & Account Limits
- 1.11 FTX
- 1.12 Huobi
- 1.13 FTX vs Huobi: Ease of Use & Interface
- 1.14 FTX
- 1.15 Huobi
- 1.16 FTX vs Huobi: Security Features
- 1.17 FTX
- 1.18 Huobi
- 1.19 FTX vs Huobi: Customer Support