Figure Markets Review 2026: Fees, Pros, Cons, & Safety

Figure Markets Overview

What Is Figure Markets?

Figure Markets is a platform where you can is a platform where you can trade crypto, earn yield, and borrow against your assets – all while keeping full control of your money.

It’s built on the Provenance Blockchain, so you get the transparency of DeFi, but with the user-friendly feel of a traditional exchange.

Unlike regular crypto exchanges that hold your coins for you, Figure Markets uses something called multi-party computation (MPC) wallets.

That might sound technical, but the implication is simple – you’re the only one who can access your wallet, and there’s no single key that can be hacked or lost.

Figure Markets was created by the team behind Figure, a fintech company that launched in 2018. Since then, they’ve grown into the #1 non-bank mortgage lender in the world, putting around $600 million of loans on-chain every month and managing over $11.9 billion in total.

The platform lets you trade crypto with zero trading fees, but its most innovative features come in the form of earning yield.

This includes Democratized Prime – a lending feature that lets you earn up to 9% APY on your $BTC, $ETH, and stablecoins. – a lending feature that lets you earn up to 9% APY on your $BTC, $ETH, and stablecoins. The coolest part is that it has a lending pool backed by actual home loans (also known as HELOCs) – but more on that a bit later.

And if your money’s waiting to be used, it can still earn close to 4% in $YLDS, their SEC-registered stablecoin.

Figure Markets Key Features

• Decentralized MPC wallet: By default, you stay in control of your crypto, at all times. Instead of handing over your crypto to Figure Markets, your private key is split into secure pieces and stored separately.
• Crypto exchange: Trade across 17+ markets. The exchange has pro-level tools including complete candlestick charts, limit orders, and stop-limits.
• Crypto-backed loans: Borrow against your $BTC or $ETH with up to 75% loan-to-value. No credit checks, fast approval, and you keep your crypto while unlocking some liquidity.
• Democratized Prime: Lend crypto or cash and earn up to 9% APY. The flagship lending pool is powered by real-world home loans (HELOCs).

Figure Markets Fees

Figure Markets doesn’t charge any trading fees. Being a new exchange, though, just keep an eye on slippage and spreads.doesn’t charge any trading fees. Being a new exchange, though, just keep an eye on slippage and spreads.

Crypto-backed loans come with interest rates starting at 9.9%, and there are no origination or prepayment fees. Your interest rates changes depending on how much you borrowCrypto-backed loans come with interest rates starting at 9.9%, and there are no origination or prepayment fees. Your interest rates changes depending on how much you borrow (9.9% at 50% (9.9% at 50% loan-to-collateral value (LTV) or 11.5% at 75% LTV).

Our Expert Review of Figure Markets

Figure Markets gives you the best of both worlds – the security of DeFi with the smooth feel of a centralized exchange.gives you the best of both worlds – the security of DeFi with the smooth feel of a centralized exchange.

Here’s what it looked like from my point of view, when signing up and checking out the platform:

Signing up

Getting started with Figure Markets was super straightforward – but heads up, you’ll need to sign up from your phone (yes, both iOS and Android are supported).

Currently, you can’t sign up from your desktop device.

Why? Mostly because the self-custody wallet setup is built for mobile. If you’re used to signing up for stuff on a laptop, it might feel like a bit of a switch.

But honestly, the process is slick. It felt more modern than clunky.

Since the platform deals with real money and crypto, I expected the KYC (identity check) to be slow or annoying. But it was actually fast.(identity check) to be slow or annoying. But it was actually fast.

Just a few basic details and a photo upload, and I was verified within about 2 minutes. Big win.

Once you’re set up, you can log in on desktop to get the large-screen experience – and the way you log in is pretty cool:

Just scan a QR code on your desktop screen with the app on your phone, approve the login, and you’re in.

No passwords, no typing, and still totally secure.

It’s a small thing, but it makes the whole experience feel pretty damn smooth.

Decentralized MPC Wallets

When you sign up and complete KYC, you automatically get an decentralized MPC wallet.

This is where your crypto like $BTC, $ETH, and $YLDS will live.

Unlike other exchanges that hold your funds on your behalf, with Figure Markets, you’re always in control.

How? Your private key is split into pieces and stored securely across different places.

No one (not even Figure Markets) ever has full access to your crypto.

It’s way harder to hack, and there’s no seed phrase to memorize. If you lose your phone, you can still recover everything. It works like a normal wallet app, just more secure.

Figure Markets User Interface

The Figure Markets user interface is clean, simple, and easy to get the hang of. It’s pretty intuitive, whether you’re brand new to crypto or have been trading for years.user interface is clean, simple, and easy to get the hang of. It’s pretty intuitive, whether you’re brand new to crypto or have been trading for years.

The mobile and desktop versions look almost identical, so it’s super easy to switch between them without getting lost.

It may be useful to note that while you signed up on mobile, you’ll get the most features out of the desktop interface.

On desktop, everything you need – like trading, lending, or earning – is laid out in a sidebar on the left.

Just one click gets you where you want to go, at any moment.

Earn Customized Yield (Democratized Prime)

Democratized Prime is Figure Markets’ lending marketplace that lets you earn up to 9% yield by lending your crypto or stablecoins.

You choose the asset, set your minimum desired rate, and let Figure match you with borrowers.

They do this through a Dutch auction (which means you set your minimum required interest rate) but if borrowers are willing to pay more, you get the higher rate.

Withdrawals are flexible, so you can pull your money out hourly.

Mainly, you can lend assets including USD, $BTC, $ETH, $SOL, $USDC, or $USDT to margin traders. But by far the most interesting part of Democratized Prime is the $YLDS - HELOC pool.

This is a first-of-its-kind feature for everyday users to earn from real-world home equity loans.

Sound confusing for a crypto platform? Hang in there – it’s quite genius.

Here’s how it works:

Figure, the team behind the platform, issues Home Equity Lines of Credit (HELOCs). That is, loans where homeowners borrow against the value of their homes.

Instead of using banks, Figure puts these loans on the blockchain through their own tech, called Provenance.

They've already become the number one non-bank mortgage lender in the world, putting $600M in loans on-chain every month.

The $YLDS - HELOC pool lets you lend your $YLDS, and Figure uses it to back those home loans.

You earn up to 9% from the interest borrowers are paying. You'll still earn $YLDS’s base rate of 3.78% APY, even when your funds aren't being used.

This makes lending your $YLDS a simple way to earn solid returns from low-risk, real-world assets.

Crypto-Backed Loans

If you need quick cash but don’t want to sell your $BTC or $ETH, Figure Markets lets you borrow stablecoins against your crypto.

That means you can keep holding your coins while still getting access to liquidity.

Here’s what the process looks like:

1. Set your terms: Pick how much you want to borrow and how much crypto you’ll use as collateral.
2. Review & sign: Read over the loan terms and sign the digital paperwork.
3. Send your crypto: Transfer your $BTC or $ETH into your decentralized MPC wallet to fund the loan.
4. Get your $USDC: The funds hit your Figure Markets account and are ready to withdraw.

There aren’t any origination or prepayment fees, and you can borrow up to 75% of your crypto’s valuedepending on the terms.

Just make sure that you account for any possible fluctuations in your collateral’s value…

After all, you probably chose this option to avoid selling your coins – so you’ll want to make sure you steer clear from liquidation.

Exchange (Pro Trade)

You can make quick market buys and sells right from the Figure Markets mobile app (Android and and iOS), which is fast and easy for trading on the go.

But if you want more control, there’s a full-featured interface on desktop called Pro Trade.

That’s where you’ll find advanced tools like charting, limit orders, and stop limits – the kind of stuff you’d expect from a serious exchange.

Pro Trade currently supports over 17 trading pairs, including BTC/USD and ETH/USDC, withPro Trade currently supports over 17 trading pairs, including BTC/USD and ETH/USDC, withzero trading fees. As I mentioned before, the platform is relatively new – so just double-check for slippage and spreads before making large trades.zero trading fees. As I mentioned before, the platform is relatively new – so just double-check for slippage and spreads before making large trades.

On the other hand, more tokens and users are on the way, which should help boost liquidity over time.

Customer Service

If you ever get stuck or just want to dig deeper into how Figure Markets works, your first stop should be the Learn Page.

They've packed this section with clear, in-depth articles that cover everything from the basics (like how to fund your account or make a quick trade) to advanced topics. Margin trading, shorting, the ins and outs of Democratized Prime – you name it.

One-On-One Help

If you can’t find what you need on the Learn page, Figure Markets also offers fast, personal support.also offers fast, personal support.

When I sent a help request, I got a response within 37 minutes. Not only was the reply decently quick, but it also included a clear explanation and a great alternative to the feature I was asking about.

If all else fails, it looks like there’s also customer service reachable by telephone, at 1-888-851-4883.

Who’s Figure Markets For?

• Crypto Investors Seeking Self-Custody: Figure Markets’ decentralized MPC wallet puts you in full control of your crypto. Your assets stay in your wallet, not on the exchange, which cuts down the risk of hacks or platform failures.
• Investors Looking for Steady Yield:With Democratized Prime, you can earn up to 9% APY. These regulated and transparent options are ideal for anyone who wants to grow their holdings without chasing risky DeFi yields.
• Borrowers Needing Quick Cash: If you’re holding $BTC or $ETH but need access to cash, Figure’s crypto-backed loans let you borrow up to 75% of your asset value – no credit check, and approval usually happens the same day. It’s a simple way to get liquidity without having to sell.

Who’s it Not For?

• Altcoin Hunters:If you’re into trading a wide variety of new and exciting tokens, Figure Markets might feel a bit limiting. They expect to add more coins in the near future, but they’re not here yet.

Figure Markets Alternatives

Figure Markets vs. Coinbase

Figure Markets is for more advanced crypto users, but super secure with its decentralized MPC wallet and yield-generating extras like Democratized Prime.is for more advanced crypto users, but super secure with its decentralized MPC wallet and yield-generating extras like Democratized Prime.

Coinbase is an easier choice for beginners, and has a wider range of assets available. The downside is that it has high fees and no self-custody, unless you use their Web3 wallet separately.

Figure’s zero-fee trading makes it great if you’re already somewhat crypto-savvy, while Coinbase might be worth the extra cost for newbies.

Figure Markets vs Nexo

Figure Markets and Nexo both offer crypto lending and crypto-backed borrowing services.and Nexo both offer crypto lending and crypto-backed borrowing services.

Figure Markets emphasizes self-custody with decentralized MPC wallets, and also offers a unique difference in real-world asset-backed lending, within Democratized Prime (up to 9% APY via HELOCs).

Nexo is more tailored towards beginners, with a streamlined loan process, but it’s centralized, and holds your funds for you. It offers fiat currency loans, while fiat currency support is still on the way for Figure Markets.

Is Figure Markets Safe to Use?

When it comes to crypto holdings, Figure Markets starts off strong with its decentralized MPC wallets, which puts users’ crypto assets in self-custody by default.

Their Provenance blockchain also has a ton of assets secured on top, giving it a good foundation for credibility.

Of course, you’ll have to trust Figure Markets for some of the more centralized components of the platform.

So, here’s some background on the company, so you can decide for yourself:

When Was Figure Markets Founded?

Figure Markets was founded in 2024 by Mike Cagney and June Ou, spinning out from Figure Technologies.

Despite Figure Markets itself being only recently founded, its parent company Figure has been around since 2018 with a solid track record.

Figure Markets is headquartered in San Francisco, with a global exchange in the Cayman Islands.

Who Has Invested in Figure Markets?

In March 2024, Figure Markets closed a $60 million Series A funding round led by a strong lineup of investors:

Pantera Capital, Jump Crypto, Faction, CMT Digital, and Ribbit Capital.

These names are all well-known in the crypto and fintech space, with deep experience in scaling blockchain-based platforms.

Figure Markets Licensing and Regulation?

Figure Markets and its related services are fully regulated across the board.

Figure Securities, Inc. is registered with the SEC and is a FINRA member, which means it follows strict rules designed to protect investors.

It's also part of SIPC, which covers up to $500,000 in assets (including $250,000 in cash) if anything ever goes wrong with the brokerage side.

On the crypto side, Figure Payments Corporation is registered with NMLS (#2033432) and operates under US state regulations – you can look it up on the NMLS Consumer Access site. For investment management, Figure Investment Advisors LLC is also SEC-registered, which means it has to follow standard investment adviser regulations.

In Europe, Figure Markets Ireland Limited is registered with the Central Bank of Ireland, focusing on anti-money laundering and terrorism financing compliance.

Even their stablecoin, $YLDS, is built with regulation in mind. It’s SEC-registered, making it one of the few yield-bearing stablecoins with that level of oversight.

Final Thoughts On Figure Markets

Figure Markets brings a unique twist to crypto exchange platforms.brings a unique twist to crypto exchange platforms.

It shakes things up by focusing on self-custody so that you can actually hold your crypto yourself, and adds yield opportunities based on more tangible stuff than other lenders.

Zero trading fees, decentralized MPC wallets, a yield-bearing stablecoin, and even a lending pool backed by real-world assets – that’s pretty innovative, if you ask me.

That said, it’s still early days. Trading volume is low, the list of tokens is pretty short, and there’s no fiat support just yet.

However, there are some heavy hitters behind Figure Markets, so there’s little doubt that things will pick up here.

If you’re even a little bit crypto-savvy and looking for more security, better yield options, and something that feels built for the future – Figure Markets is worth checking out.

Figure Markets Frequently Asked Questions