FAQ: FTX US Account Integration

About the FTX.US Integration

FTX US Derivatives is connecting to FTX US! The FTX.US integration will be gradually rolled out in phases. Please reference this page for status updates. 

Phase 1: Individual Account linkage. Link your personal FTX US Derivatives account with your FTX.US account (Rollout: April 2022)

Phase 2: Only Eligible Contract Participants (ECPs) will be able to buy and sell ETH Next-Day Deci Swap Contracts on the FTX US Derivatives SEF platform (Effective: June 23, 2022)

Phase 3: Company Account linkage. Link your FTX US Derivatives company account with your FTX.US account. (Rollout: July 2022)

Note: Only one user with the permission set as the Admin + Trader role will be able to link their Company account. If your company has more than one admin + trader, it is important to assign a lead account admin to link accounts. All other users will be set up under permissioned logins on the FTX US platform. 

Phase 4: Zero fee, instant funds transfer between platforms (Rollout: TBD)

Phase 5: Offering of Margined Products (Rollout: TBD, pending CFTC approval)

Phase 1: Individual Account Linkage/Merge

  • Link/create an FTX.US account in order to properly sync your FTX US Derivatives information. (Account linkage will only apply to individual accounts at this time, Company accounts will be connected at a later time.)
  • On FTX US Derivatives, users can either log in with their FTX US Derivatives credentials or they can log into FTX US by clicking on the FTX US Login button. You cannot use your FTX US Derivatives credentials to log into FTX.US. 
  • View a summary of open orders, positions, and funds history from your FTX US Derivatives account under the subaccount Fully-Collateralized Derivatives (DCM). This is separate from the FTX.US Main Account. 
Steps to Link to an FTX.US Account

Steps to Link to an FTX.US Account

  1. Log into FTX US Derivatives
  2. Click "Link account to FTX.US" displayed on either the popup window at log-in, top banner of platform or within settings under the “my profile” section
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    connecting_banner.png
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  3. If you already have an FTX US account, enter in your FTX.US credentials. If you do not have an existing FTX.US account, you will be able to create one on the next screen.
  4. Confirm email for the FTX US account linkage
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  5. Receive confirmation once accounts have successfully been connected. Users can also view account linkage confirmation under the “my profile” section here.
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  6. On FTX US Derivatives, users can either log in with their FTX US Derivatives credentials or they can log into FTX US by clicking on the FTX US Log in button
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  7. On FTX.US, navigate to the Wallet dropdown on the top right of the platform > click profile > hover over to the subaccount Fully-Collateralized Derivatives DCM
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  8. View a summary of open orders, positions, and funds history from your FTX US Derivatives account under the subaccount Fully-Collateralized Derivatives (DCM)
    subaccounts_treatment-only_collateralized_tab.png
  9. No further action is required after accounts have been linked. You can continue to trade on https://app.ledgerx.com.
Questions on Individual Account Linking
  • The legacy FTX US Derivatives (formerly LedgerX) interface won’t be going away… we have options listed until March 2023! 
  • You will not be able to change your physical address in FTX US Derivatives (LX) once linked. These changes will have to occur directly on FTX.US.
  • Users can view a summary of open orders, positions, and funds history from your FTX US Derivatives account under the subaccount Fully-Collateralized Derivatives (DCM). This is separate from the FTX.US Main Account. 
New York Residents
Due to the current restrictions that FTX.US has in New York State, New York residents will be able to create an FTX US account for read-only purposes.  Residents of NY are able to sign up for FTX US but cannot trade, deposit or withdraw to/from the spot platform.

Phase 2: ETH Next-Day Swap Contracts only available to ECPs

Starting on Thursday, June 23, 2022ETH Next-Day Deci Swaps will no longer be available for all participants to trade on the FTX US Derivatives DCM platform. The last ETH Next-Day Deci Swaps contract so listed will be the: ETH-23JUN2022-NextDay.

As part of our ongoing integration with FTX.US, we are working hard to enable a feature to let users transfer funds rapidly and at no cost between your spot FTX US account and your FTX US Derivatives account. 

Update on ETH Deci Swap Contracts

Starting on Thursday, June 23rd, 2022, only Eligible Contract Participants  (ECPs) will be able to buy and sell Ethereum Next-Day Deci Swaps on the FTX US Derivatives platform. FTX US Derivatives will be moving its Day-Ahead USD/ETH Deci Swaps from its Designated Contract Market (DCM), where it can be traded by anyone, to its Swap Execution Facility (SEF), where only ECPs can trade. 

Participants should take this change into account when getting funds onto the platform for exercising at options expiration; e.g., ETH to exercise long puts or selling ETH for USD. Users can still process ETH deposits and withdrawals and will be able to trade ETH Options at 1/10 the size of one ETH.

What is an Eligible Contract Participant (ECP) and where do I check my status? 
An Eligible Contract Participant (ECP) is a special category by the CFTC for entities (corporations, trusts, brokerage firms, etc.) or high net worth individuals that allows them to engage in certain financial transactions that are not open to all investors. 

Participants can qualify as an ECP in a number of ways, such as meeting a net asset requirement: net assets exceeding $1 million for entity accounts hedging risk or $5 million for individual investors if hedging risk. The definition of "Eligible Contract Participant" (ECP) is found in Section 1a(18) of the CEA (7 U.S.C. § 1a(18)). 

Users can view their ECP status under their profile section under settings. If you qualify to be an ECP and are interested in learning more, you can contact us at support@ledgerx.com. 

Phase 3: Company Account Linkage/Merge

It's time to link your FTX US Derivatives Company account to an FTX US Company account. The Lead Company Admin with the Admin + Trader role can link or create an FTX.US company account in order to properly sync your FTX US Derivatives information. At the time of account merge, the Derivatives account information on FTX US will be for read-only purposes. Trading and transferring funds is only available on https://app.ledgerx.com.

Managed users under your FTX US Derivatives entity will automatically transition over as  “permissioned logins” on FTX US where their permissions and access levels will remain the same*. Each user will need to verify their details via email confirmation and set their own FTX US password and 2FA.

*FTX US Derivatives Data on FTX US is read-only, existing users with the role of mp admin will be defaulted to read-only. See User and Account management under "FAQ: Company Account Linking"  below for more information. 

Steps for a Lead Account Admin (Admin + Trader) to Link to an FTX.US Account

If you are the lead company account admin (Admin + Trader role), follow the steps below to link to an FTX.US Account

Note: Only one user with the permission set to Admin + Trader role will be able to link their Company account. If your Company has more than 1 Admin + Trader role, it is important to assign a lead account admin to link accounts. All other users will automatically transition over as permissioned logins on the FTX US platform. 

  1. Log into FTX US Derivatives
  2. Click "Link account to FTX.US" displayed on either the popup window at log-in, top banner of the platform, or within settings under the “my profile” section
    opening_modal_new.png


    connecting_banner.png
    linktoFTX_fromSettings_2x.png
  3. If your company already has an FTX US account, then you will simply connect using those account credentials. If you do not have an existing FTX.US Company account, you will be able to create one on the next screen
  4. Confirm email for the FTX US account linkage
    Screen_Shot_2022-04-20_at_5.11.51_PM.png
  5. Receive confirmation once accounts have successfully been connected and view linked account confirmation directly under the “my profile” section on FTX US Derivatives here. All other users will automatically transition over as permissioned logins on the FTX US platform and will receive an email confirmation accordingly
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  6. On FTX US Derivatives, users can either log in with their FTX US Derivatives credentials or they can log into FTX US by clicking on the FTX US Log in button
     ftxus_signing.png
  7. On FTX.US, view your Fully-Collateralized Derivatives DCM subaccount information by clicking on wallet under the navigation bar >click on profile > Subaccount: Fully-Colleralized Derivatives (DCM)
     ftxus_wallet.png
  8. View a summary of open orders, positions, and funds history from your FTX US Derivatives account under the subaccount Fully-Collateralized Derivatives (DCM)
    subaccounts_treatment-only_collateralized_tab.png
  9. User management will occur from the FTX US interface and user management will be turned off from the FTX US Derivatives (formerly LedgerX) interface. If you want to create new users, lead account admins will be able to directly under company settings in FTX US. See steps to set up an organization permissioned login here
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  10. No further action is required once all users under your account have verified their information and accounts have been linked. You can continue to trade on https://app.ledgerx.com
Steps for Managed Users to activate their permissioned logins under their FTX.US Company Account

Users already created in FTX US Derivatives will automatically transition over as "permissioned logins" on FTX US where their permissions and access levels will remain consistent with what their roles are on FTX US Derivatives. Each user will need to verify their details via email confirmation and set their own password and 2FA. To activate your permissioned login, please follow the steps below. 

1. Click on the email link to activate your permission login. The link expires after 48 hours. 

Note: Email confirmation links expire within 48 hours but lead account admins will be able to resend a new link directly under company settings in FTX US. (Company lead account admins have the permission role set as “Admin + Trader”)

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2. Confirm your details are correct and indicate if you are affiliated with any other FTX US account

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3. If you are affiliated with any additional FTX Accounts, add in other requested account information

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4. Create a custom password for your FTX US account

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5. Login using your email address, organization name and password

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6. Secure your account with two-factor authentication (2FA). 2FA is required to use a permissioned login beyond read-only privileges

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7. Once successfully linked, an email confirmation will be sent providing a bookmark-able link that you can use to log in

8. At the time of account merge, Permissioned logins will be able to view a read-only summary of open orders, positions, and funds history from your FTX US Derivatives account under the subaccount Fully-Collateralized Derivatives (DCM). You will continue to trade on https://app.ledgerx.com

FAQ: Company Account Linking
  • The legacy FTX US Derivatives (formerly LedgerX) interface won’t be going away… we have options listed until June 2023! 
  • Linking accounts will not override existing FTX.US account admin's permissions. If your company already has an FTX US account then you will simply connect using that email affiliated with the account.
  • Users can view a summary of open orders, positions, and funds history from your FTX US Derivatives account under the subaccount Fully-Collateralized Derivatives (DCM). This is separate from the FTX.US Main Account. Trading and transferring funds is only available on https://app.ledgerx.com.
  • Companies incorporated in New York: Due to the current restrictions that FTX.US has in New York State, New York companies will be able to create an FTX US account for read-only purposes.  New York companies cannot trade, deposit, or withdraw to/from the spot platform.

Account Sign-on

  • On FTX US Derivatives, users can either log in with their FTX US Derivatives credentials or they can log into FTX US by clicking on the FTX US Login button. You cannot use your FTX US Derivatives credentials to log into FTX.US. 

User and Account Management

  • Users already created in FTX US Derivatives will automatically transition over as “permissioned logins” on FTX US where their permissions and access levels will remain the same. Each user will need to verify their details via email confirmation and set their own FTX US password and 2FA.
      • LX Admin (only) -> read-only
      • LX Auditor -> read-only
      • LX Trader (only) -> not read-only; can trade, cannot withdraw
      • LX Admin + Trader -> not read-only; can trade, can withdraw
    • Email confirmation links expire within 48 hours but lead account admins will be able to resend directly under company settings in FTX US
  • User management will occur from the FTX US interface and user management will be turned off from the FTX US Derivatives interface. To create new users going forward, account leads will need to create a new permissioned login on the FTX US side. 
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