FUBT
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UPDATE 1 September 2020: We have not been able to access the website of this exchange lately. Usually when this happens, without any preceding information on system maintenance or upgrades, it is because the exchange has closed down. But it could also be for other reasons. However, pending contrary information, we have marked this exchange as "dead" and moved it to our Exchange Graveyard.
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FUBT Review
FUBT is an exchange from Hong Kong. It launched in July 2017. Hong Kong has for a long time, together with Singapore, been the main crypto country in Asia so it’s no surprise that so many exchanges are registered here.
One of FUBT’s strenghts is that they support so many cryptos. On the date of writing this review (8 October 2019), FUBT supported 212 different cryptocurrencies. This is a very strong number and can be attractive especially for people looking to trade the less known altcoins.
We have no reason to believe that US-investors can’t trade here. There are no prohibitions against US-investors in the exchange’s Terms and Conditions or anything similar. But, as always, any US-investors interested in trading here should form their own opinion on any issues arising from their citizenship or residency.
Full Platform Terminal Access
FUBT also proudly presents on its website that they offer “full platform terminal access”. This means that the platform is available for download to your phone, and that it’s also available as Mac or Windows desktop clients. No matter where and how you want to trade, FUBT will cater to your needs.
OTC-desk
FUBT also has an OTC-desk. With an OTC-desk, you can execute larger trades with quick settlement. Trades that you for pricing reasons (also known as “slippage”) don’t want to execute on on the open market.
FUBT Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. The below is a picture of the trading view at FUBT:
FUBT Fees
FUBT Trading fees
This particular trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model. The flat fee is 0.20%. This fee is slightly below the industry average.
The industry average has for a long time arguably been 0.25%, but we currently see more and more exchanges moving to far lower trading fees. 0.10%-0.15% are emerging as new industry averages. For the time being though, 0.20% is still in line with industry average.
FUBT Withdrawal fees
FUBT charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is somewhat above the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal. However, compared to industry average, the BTC-withdrawal fees at this exchange is only 0.000188 BTC higher. This corresponds to approx. 0.88 USD more per withdrawal and should not be a deterrent factor for you in your choice of exchange.
All in all, the fees here are competitive.
Deposit Methods
This trading venue does not accept any other deposit method than cryptos, so new crypto investors can’t actually trade here. If you don’t have any crypto but want to start trading at this exchange, you will first have to purchase cryptos from another exchange and then, as a second step, deposit them here. Luckily for you, you can use the Exchange Finder to find a crypto exchange accepting fiat deposits.