Liquid by FTX

What is Liquid by FTX?

Brace yourself, because the Liquid by FTX take fits in one sentence: it's a corpse. Liquid (formerly Quoine), was a pretty serious centralized exchange from Singapore that ranked in the middle tier of CEX spot exchanges in the late 2010s. Spot trading, fiat pairs, some leverage, a decent mobile app, and a reputation as a "compliance-friendly" platform that reassured reluctant Asians. In short, an honest player in crypto trading. Then FTX bought Liquid in early 2022. And you know the rest, because everyone knows it: FTX exploded mid-flight in November 2022, dragging Liquid to the grave with it.

Today, if you type liquid.com in your address bar hoping to trade Bitcoin, you hit a wall. No order book, no charts, no pairs. Just a terse message redirecting you to the FTX claims portal (claims.ftx.com) to recover — maybe, someday, if the stars align — a fraction of what you'd deposited. That's it. The Liquid by FTX exchange no longer exists as a trading platform. It survives only as an administrative waiting room for creditors of a spectacular bankruptcy.

So let's be clear upfront: if you're looking for where to trade in 2026, close this tab. Liquid is not an option, it's not even an exchange. It's a bankruptcy filing dressed up as a website. This review exists mainly to save you time and for old users still wondering how to get their money back.

How does it work?

Back in the day, creating a Liquid account was the standard CEX routine: email, password, KYC with ID and selfie, and boom, you could deposit and trade. The interface was decent without being revolutionary — a readable order book, integrated TradingView charts, a mobile app that did its job.

But that was then. Today, the only "feature" of liquid.com is explaining that your accounts are now managed via the FTX Claims portal. Concretely: you click the link, land on claims.ftx.com, log in (or create a creditor access), and select "Liquid" from a dropdown menu. From there, you navigate an American bankruptcy procedure with deadlines, forms, dollar amounts frozen to the crash date, and lots, lots of patience.

So registration on Liquid by FTX in the sense of "I'm registering to trade" no longer exists. The only possible path is that of the creditor claiming their due. And let's warn you: it's neither fast, nor intuitive, nor pleasant. It's legal administration, not trading.

The quality of the content

What content? There's none left. No trading pairs, no products, no staking, no card, nothing. Where a live exchange is judged by its order book depth, list of supported cryptos, and liquidity, Liquid by FTX offers you … a redirect to a claims portal.

In its heyday, Liquid offered a respectable catalog of cryptos, Japanese yen pairs prized in Japan, and a flagship product called World Book that aggregated liquidity from multiple exchanges. That was its real value add. But it's all been shut down. There's nothing exploitable left on the trading side.

So if we rate the "freshness" and "variety" of content, it's zero points, and that's not even mean — it's a clinical observation. A dead platform has no content. It has a death certificate and a list of creditors. If you were looking for reviews on the quality of Liquid's markets, they're completely irrelevant in 2026.

The business model

Historically, Liquid made money like any CEX spot: maker/taker fees on every trade, withdrawal fees, and a small in-house token (QASH) meant to unlock discounts. Classic model, fees averaging across the sector, nothing scandalous and nothing brilliant.

Today, Liquid by FTX's "business model" is that of a bankruptcy: customer assets are frozen and managed within the FTX bankruptcy proceeding. The question is no longer "how much does trading cost," but "how much will I get back, and when." Liquid free? The page charges you nothing, obviously, because it sells nothing anymore. But that's not freedom, it's just the complete absence of service.

What we like

• ✅ The page is honest: it doesn't pretend to be a still-functioning exchange and redirects you straight to claims.
• ✅ Liquid's past was pretty clean regulatory-wise (Singapore license), so fewer gray areas than other sector deaths.
• ✅ There's a real official recovery channel (claims.ftx.com), which not all dead platforms offer.
• ✅ Old users have at least a structured procedure to follow, not complete silence.
• ✅ Zero risk of getting scammed "trading": there's nothing left to trade.

What stands out

• ❌ The exchange is pure and simple dead: zero trading possible in 2026.
• ❌ Fund recovery via the FTX bankruptcy is slow, partial, and uncertain.
• ❌ Every new user arriving here wastes their time: it's not a platform, it's a creditor counter.

FAQ

Is Liquid by FTX available in France?

No, and not just France: it's no longer available anywhere as an exchange. The trading platform is permanently closed. French users like everyone else can only go through the FTX claims portal.

Can you still sign up for Liquid by FTX?

No. Registration to trade no longer exists. The only possible access is for old customers wanting to recover their funds through claims.ftx.com by selecting "Liquid" in the menu.

Is Liquid by FTX free?

The current page doesn't charge you anything, but only because it offers no service. That's not an advantage: there's simply no platform left to use, free or otherwise.

Is it safe to deposit money on Liquid by FTX?

Definitely not, and it's even impossible. Never deposit anything on anything claiming to be Liquid: the exchange is insolvent. Also watch out for scam sites impersonating the name to rip you off.

What are alternatives to Liquid by FTX?

Any live and reputable CEX spot works: big centralized exchanges known for liquidity and compliance. Pick an active, regulated, and audited platform — anything but a ghost from the FTX ecosystem.

The PornRanks team's verdict

Liquid by FTX is the story of a decent exchange that had the worst idea of its life: getting bought by FTX right before Sam Bankman-Fried's house of cards collapsed. Result: in 2026, liquid.com is no longer a trading site, it's a claims window for victims of one of the biggest crypto bankruptcies in history.

For whom is this useful? Only for old users who haven't recovered their funds yet and must go through claims.ftx.com to file their claim. For them, the move is simple: follow the official procedure, never pay "unlock fees" claimed by strangers, and beware of any fake support.

For everyone else — that is, anyone actually looking for where to trade Bitcoin or Ether today — Liquid has absolutely zero interest. Go your way and head to a live CEX spot. The only silver lining is that the page doesn't lie to you and doesn't try to fleece you. But a platform honest about its own death is still a dead platform. RIP Liquid.