Figure Markets Review

Figure Markets Review: Quick Overview

If you’re in need of a quick recap version of my Figure Markets review, here’s a short summary of what the platform offers:

Table: A quick overview of Figure Markets

Is Figure Markets legit? Is it beginner-friendly? Does it require KYC? Well, just by taking a quick glance at the overview table, you should be able to answer those common questions and also get a pretty solid sense of what the platform provides.

That said, if you’re still curious and want to explore the details further, let’s dig deeper into what Figure Markets has in store for you.

Who’s Figure Markets For?

Before we get into the nuts and bolts of my Figure Markets exchange review, here’s who I think this platform is best suited for:

• Beginners. If you’re just getting started, Figure Markets offers a user-friendly interface and promotional perks like zero trading fees. The earning options are also a solid entry point for anyone looking to dip their toes into passive income.
• Active Traders. More experienced users will feel right at home with the platform's fast trade execution. With a self-custody setup, plus the option to borrow against your BTC or ETH, it offers the flexibility needed to stay agile while maintaining security.
• Crypto HODLers. Long-term holders will also appreciate the platform's solid lineup of yield-generating products with 3.8% - 7% competitive returns. On top of that, the borrowing feature lets you unlock quick cash without selling your crypto assets.

Do you fit into any of these? Let’s keep going and break down what makes Figure Markets worth considering!

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Advantages

There are several strong points that might convince you to give Figure Markets a try:

• Easy-to-use interface
• Self-custody with robust security
• Accessible crypto-backed loans
• Flexible yield-earning opportunities
• Lightning-fast trade execution
• No trading fees

The first thing you’ll notice when visiting the platform is how approachable the interface feels. It’s clean, simple to navigate, and doesn’t overload you with information. Even with multiple products that might seem a bit much for beginners, everything is explained and organized in a way that won’t leave you feeling lost.

That ease of use is backed by a self-custodial setup that puts you in charge. Instead of relying on centralized storage, Figure Markets uses multi-party computation (MPC), splitting your private key into fragments and spreading them across multiple hosts.^[1]

Thanks to the layer of security, exploring the platform’s core features feels a lot more comfortable. One example is the crypto-backed loan (CBL) service. With it, you can borrow cash against your BTC or ETH holdings, starting at a competitive 12.5% interest rate.

The platform’s earning tools are also worth checking out if you’d rather let your assets grow passively. You’ll have plenty of flexibility here with options like Forward Vault, YLDS, and P2Prime, all offering attractive yields (I’ll break these down in more detail in the later section of my Figure Markets review).

Of course, just because the platform puts borrowing and earning front and center doesn’t mean it skimps on trading. The exchange still delivers a strong trading experience with fast execution, self-custody, and deep liquidity.

And as the cherry on top, spot trading comes with zero fees. This means that you can stay active without extra costs chipping away at your gains.

Limitations

As with everything on this earth, there’s no such thing as a perfect being, and the same goes for Figure Markets. To be honest, I haven’t come across any major red flags so far, but if I had to point out one shortcoming, it would be this:

• Limited trading pairs

If you take a quick look at the available markets, you’ll notice that the spot exchange doesn’t offer a massive range of coins to trade. Most of what’s listed revolves around core assets like BTC, ETH, USDC, SOL, LINK, UNI, and HASH.

Personally, I don’t see this as a deal-breaker. The platform’s main focus is on borrowing and earning, not altcoin hunting or rapid-fire trades. But if you’re into swapping meme coins or exploring potential low-cap tokens, the limited selection might leave you wanting more.

📚 Read More: How to Find Meme Coins Early

Security

Figure Markets takes security seriously and has already taken several steps to safeguard your hard-earned assets. But if you still have a bit of doubt about how safe it really is, let's break down the key security elements one by one:

• Rigid identification verification
• Biometric support
• Self-custody via MPC protocol
• SIPC protection

The first layer of protection starts with identity verification. Before you can use any of its core features, you’ll need to complete the full Figure Markets KYC process, which includes providing details like your legal name, address, date of birth, and other identifying information.

It might seem tedious, but this step shows the platform’s effort to stay compliant and keep out bad actors.^[2] So, if you’ve been wondering whether Figure Markets is legit, this is one strong indicator that it plays by the rules.

For mobile users, biometric authentication adds another layer of convenience and protection. Features like fingerprint support make account access quick without cutting corners on security, especially when you’re on the go.

As I mentioned earlier, Figure Markets uses MPC to manage its self-custodial wallet system. You’re not handing over full control of your assets. Instead, your private key is broken into fragments and distributed across multiple hosts, minimizing the risk of a single point of failure.

And there’s also SIPC coverage. If you’re using investment tools on the platform, your assets can be covered up to $500,000 in the event of a broker-dealer failure. It's a nice level of protection that you don’t often see on crypto-focused platforms.

With all that in mind, I’d say Figure Markets is a safe platform you can trust with your assets.

📚 Read More: Cryptocurrency Security Guide

Localization and Regional Adaptability

If you're not based in the US and plan to use Figure Markets, you'll be happy to know that it’s available globally. Most traders can access the platform’s core features without any restrictions, making it a potential go-to option for users worldwide.

That said, there are several ineligible regions where access to the website, mobile app, or services isn’t allowed:

Table: Countries & regions where Figure Markets is not available

Also, note that the platform’s interface is only available in English. So, if you’re expecting multiple language support or a fully localized experience, it’s a bit limited for now.

Even so, I personally find the layout simple enough that navigation shouldn’t be an issue, even if English isn’t your first language.

Trading Tools

Though it doesn’t come heavy on its advanced trading features, Figure Markets still packs quite a punch where it matters. Its core spot trading function is clean, fast, and reliable, allowing you to easily trade the 14 available pairs.

Built on the Provenance blockchain, the platform offers deep liquidity, institutional-grade security, and swift trade execution.

You’ll find all the essentials in the trading dashboard (market, limit, and stop-limit orders), complete with adjustable execution preferences and time-in-force settings. Whether you’re placing a quick market buy or setting up a more strategic entry, the tools are there.

The engine running it all is also worth a mention. Figure Markets uses an off-chain matching system, which helps keep execution smooth and efficient. This setup means there will be no lag or frustrating hangs, just seamless order placement that works the way it should.

The UI is more user-friendly than flashy (which I personally prefer), and it’s clearly built with traders in mind. Everything’s laid out neatly, making it easy for beginners to explore without confusion while still offering the precision advanced users need to analyze and fine-tune their trades with confidence.

Earning & Borrowing

As you’ve probably gathered from reading through my Figure Markets review so far, the platform’s biggest highlights are its earning and borrowing features. Whether you’re looking to grow your stack passively or unlock extra liquidity without selling your assets, there are some options that you can take advantage of.

Forward Vault

If you’re a beginner looking for a simple way to grow your holdings, Forward Vault can be a solid place to start. This yield-bearing service allows you to earn up to 7% on your stablecoins, and it’s backed by real-world assets like US home equity lines of credit (HELOCs).

There’s no lockup period, and you have daily liquidity available, meaning you can trade, withdraw, or spend your funds at any time without affecting your yield. Plus, it features an automated sweep system that auto-invests any unused balance, helping you make the most of every idle dollar.

Getting started is also pretty easy. Just sign up for the service, deposit your stablecoins, and choose to automatically invest all or part of your balance. You get competitive returns without compromising on liquidity or safety.

Last but not least, there’s also a simple calculator widget that lets you see how much you could earn before fully committing. It’s a minor feature, sure, but one I definitely appreciate.

YLDS

YLDS is an innovative fixed-price, daily-accrual public debt security native to the Provenance Blockchain. It’s the first yield-bearing stablecoin built on a public network, offering up to 3.8% potential yield.

Unlike typical stablecoins (like USDC or USDT), which hold a static value and don’t earn anything on their own, YLDS is designed to pay you variable interest automatically without you needing to stake or lock it up. It’s also notable as the first-ever SEC-registered public security.

Whether you’re looking for a stable store of value or a lower-risk way to grow your portfolio, YLDS is a pretty solid option. You earn just by holding it, and you can buy it using the same simple "Buy/Sell" interface you’d use for any other asset on the platform.

P2Prime

P2Prime lets you lend your crypto or cash to margin traders and potentially earn up to 10% returns. Your funds help power trading activity on the platform, and in return, you collect interest. It’s kind of like how a bank works, but this time, you’re the one earning.

Here are a few features that make it stand out:

• Set your own rates. You can decide the minimum interest rate you’re willing to accept.
• Hands-off management. The platform handles everything, from matching borrowers to collecting interest and monitoring collateral behind the scenes.
• Collateral protection. If a borrower’s loan-to-value (LTV) creeps past 90%, the platform will automatically liquidate some of their assets to pay you back.
• Withdrawals when you need them. You can pull your funds out anytime, unless they’re currently in use for an active loan.

It’s a pretty straightforward and transparent way to put your assets to work, without needing any trading experience. That said, always be mindful of the potential risks, like borrower defaults or short-term liquidity issues that could affect your returns.

Crypto-Backed Loans (CBL)

If you need access to cash while maintaining your crypto exposure, Figure CBL is a flexible option to consider. By tapping into this borrowing feature, you can use your BTC or ETH as collateral to unlock funds while continuing to HODL.

You can borrow up to 75% of your crypto’s value at a fixed interest rate starting from 12.5%. Your actual rate, though, depends on your LTV ratio and the type of collateral you use. And no need to worry, all collateral is held securely by a qualified custodian and never rehypothecated.

Here’s what the loan terms look like:

Table: Crypto-Backed Loan Terms at Figure Markets

The process is also pretty quick and straightforward. You won’t need to deal with credit checks or piles of paperwork. Just register, send in your crypto, choose your terms, and get funded.

📚 Read More: Best Crypto Lending Platform

Bonuses and Special Offers

Aside from the key earning features, Figure Markets also offers a little extra incentive to welcome new users on board. If you sign up via this link, you can earn a $50 reward. Here’s how it works:

It’s an exclusive offer per user, and there’s no code to enter. Just make sure you’re using the link above when signing up. Not a bad way to kick off your first experience on the platform, eh?

📚 Read More: Best Crypto Deals

Fees and Limits

I’ve already mentioned a bit about the trading charges earlier, but it’s worth highlighting again here in the context of overall platform costs. So, let’s break down Figure Markets fees and how they stack up across the board.

Table: Figure Markets fees

Let’s take a closer look:

• Spot trading fees. Unlike most platforms that charge maker and taker rates, Figure Markets trading fees are set at zero.
• Deposit and withdrawal fees. Deposits are free across all supported cryptocurrencies. For withdrawals, the only cost is the standard network fee, which varies by blockchain.
• USD deposits and withdrawals. USD transactions depend on the financial institution you’re using. There's a daily deposit limit of $5,000 for ACH transfers, while wire transfers have no current cap.
• Crypto-backed loans. The base rate starts at 12.5% APR, but your final interest rate depends on your LTV ratio and the collateral you provide. The actual APR may go as high as 16.73%.

While Figure Markets keeps its fees fair and transparent, keep in mind that things can change over time. It’s always best to check for updates regularly on their official website.

Customer Support

In case you run into any issues or just need a bit of help while using Figure Markets, there are a few ways to reach out.

First up, you can contact them directly via phone, a solid option if you prefer talking things through with a real person. Or, if you’d rather write things out (especially for more detailed or account-specific concerns), there’s also a dedicated support email you can use.

Plus, there's a web-based contact form built right into the site. Just fill in your name, email, subject, and message. It’s a quick way to send over questions or feedback when you’re already logged in and don’t feel like dialing or composing a full email.

That said, as of writing, Figure Markets doesn’t have a live chat feature on the site. It’s something I’ve come to expect from most crypto platforms these days, as it's especially handy when you need a quick answer.

Still, between the phone line, support email, and on-site form, you’ve got enough channels to get help when you need it. And for updates, announcements, or just keeping an eye on what’s coming next, you can always follow their X account.

User Experience

While exploring Figure Markets for this review, I decided to give the platform a proper test run, and I’ve got to say, it left a pretty good impression from the get-go.

The moment I landed on the homepage, I was welcomed by an interface that felt intuitive and clean. Everything is structured logically and strikes a nice balance between beginner-friendly without being too simplified, and sharp enough that more experienced users will know exactly where to go intuitively.

The sign-up process caught me off guard a bit, though. You can’t register directly on the website. Instead, you’ll need to download the mobile app to create an account. It’s a different approach compared to most exchanges I’ve tried, but in hindsight, it makes a lot of sense.

Since Figure Markets is a self-custodial platform, you’re holding your crypto, not the exchange. So using your phone’s biometric verification to access your account and connect your wallet adds an extra layer of protection right from the start. And yes, that’s a solid early sign if you’re wondering, "Is Figure Markets safe?".

After completing the pretty thorough verification process, I was dropped into the mobile app interface. I was glad to see it kept the same sleek look and feel as the web version, just more compact and optimized for smaller screens.

Once signed in, I returned to the website to explore the trading platform. Right away, I liked the interface. It’s clean, snappy, and looks professional without being cluttered. Everything felt responsive too, thanks to the high-performance matching engine running under the hood.

I also spent some time navigating the "Borrow" and "Earn" sections, and they’re also well presented. Each service comes with neat, digestible explanations that even beginners would appreciate.

All in all, I had a pretty smooth time exploring the platform. If I had to nitpick, I’d say the customer support page could use a little polish, but that’s just a small thing in an otherwise well-designed user experience.

How to Use Figure Markets

So, I’ve shared a comprehensive look at the platform along with my own hands-on experience. If you’re thinking about giving Figure Markets a try yourself, here’s a quick walkthrough to help you get started.

How to Create a Figure Markets Account

As I mentioned earlier, you’ll need a smartphone to sign up for a Figure Markets account, so have it ready.

Once you’re done, tap [Back up your account] to continue.

• Personal info
• Contact details
• Citizenship and address
• Employment and income info
• Government-issued ID
• Live photo verification

Once you've filled everything out, you'll be taken to a summary page to review your application. Make sure all the details are correct, and then click [Submit application] to complete the process.

How to Deposit on Figure Markets

After setting up your account, the next step is to fund it so you can start trading or earning. Here's how:

You can either copy the address manually or scan the QR code directly using your crypto wallet to initiate the transfer.

How to Withdraw from Figure Markets

Once you've made profits and decide to withdraw, the process is also easy. It’s pretty much the same as depositing.

Once everything checks out, click the [Confirm Withdrawal] button.

That’s it! Your withdrawal will be on its way shortly (the exact timing depends on the network you selected, though).

Comparison to Other Popular Lending Platforms

At this point in my Figure Markets review, you’ve probably got a pretty good sense of what the platform brings to the table. But just in case you’re still on the fence, let’s stack it up against a couple of other names on the markets, namely Aave and Arch Lending, to help you see how it measures up.

Figure Markets VS Aave

Aave is one of the OGs in the DeFi space. It launched back in 2017 as ETHLend before rebranding a year later into the smart contract-powered lending hub we know today.

Built on the Ethereum blockchain, Aave lets users deposit crypto into liquidity pools to earn interest, while borrowers lock up collateral to access loans. Its fully decentralized setup removes the need for middlemen and gives users access to a broader range of collateral options.

It makes sense that Figure Markets often gets compared to Aave, as both offer crypto-backed borrowing with a self-custody setup. That said, let’s place them side by side to see where they differ exactly:

Table: Figure Markets VS Aave

As you can see, Aave offers more flexibility with a wide range of collateral options, flexible loan terms, and market-driven interest rates. But that also brings added complexity and risk.

Variable rates can jump sharply when the pool gets heavily utilized (sometimes passing 100% APY). And between gas fees, bridging chains, and governance token mechanics, it’s more geared toward DeFi-savvy users.

On the other hand, Figure Markets takes a more streamlined approach. It keeps the core benefits of CBL service but wraps them in a simpler, more accessible user experience.

📚 Read More: How to Buy Aave

Figure Markets VS Arch Lending

Arch Lending is a borrowing platform that lets you use crypto assets as collateral to take out fiat loans. It also puts a unique spin on the traditional model by also accepting startup equity shares as a loan guarantee, something you don’t usually see in this space.

Like Figure Markets, Arch emphasizes simplicity, security, and regulatory compliance in its CBL service. It features an easy-to-use interface designed for both retail and institutional users, and stores collateral in cold custody with top-tier security.

That said, let’s take a closer look at how their borrowing services stack up:

Table: Figure Markets VS Arch Lending

Arch’s setup is fairly straightforward, but it’s much more narrowly focused. It doesn’t offer built-in trading or passive earning tools. And despite being US-based, its services are restricted in 20 states, including big ones like California, Texas, and Illinois.

On the flip side, Figure Markets builds on its CBL foundation with a suite of earning products plus professional trading tools. That makes it more of an all-in-one destination, especially for long-term holders who want to earn yield, borrow when needed, and stay in full control of their assets.

Pros

• Secure and reliable
• Accepts fiat currencies
• Lots of trading options

Main Features

• Reputable exchange
• Accepts fiat currencies
• Offers various trading options

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Conclusions: Is Figure Markets Right for You?

If there’s one key takeaway from my Figure Markets review, it’s that this self-custody exchange is a reliable choice for beginners and seasoned traders. With a secure setup, user-friendly interface, and zero-fee trading promos, it gives you the tools to make the most of your digital assets.

Where Figure Markets really stands out is in its borrowing and earning features. Whether it’s the CBL service that lets you tap into quick liquidity without selling your crypto, or Forward Vault that puts your stablecoins to work with steady returns, it’s built to help you stay invested and unlock more value.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Erinle Y., Feng Y., Xu J., Vadgama N., Tasca P.: ‘Shared-Custodial Wallet for Multi-Party Crypto-Asset Management’;

2. Mansoor N., Antora K. F., Deb P., Arman T. A., Manaf A. A., Zareei M.: ‘A Review of Blockchain Approaches for KYC’.