Easy
It’s not too good to be true!
Once you open an account and move your cash over, it's very easy to buy the stablecoin YLDS with zero fees and then make them available to be borrowed by Figure at higher interest rates. I feel confident enough to have a significant portion of my savings invested/lent to Figure markets. You are basically lending them money to fund their home equity line of credit business, which is typically done by a warehouse bank. All that means is that Figure lending typically has access to a giant revolving line of credit with institutions, (like a big credit card) and this is just one of those sources of funding for them. You’re not investing in the long duration of these HELOC for example it’s only funding the loans until they’re sold, which is perhaps around 30 days. That said you actually have the opportunity to get your money back and not lend it to them every hour via their reverse Dutch repo auction.
You get real assets on the blockchain against your loan. There is a third-party bank that holds these assets in trust. I highly recommend you research this with any of the large language models to learn more. If I could, I would share my research with you here!
Excellent Facilitation
Not Worth The Risk
This app asks for trust but does not earn it. My experience was unresolved issues, no real response from support, and a lack of transparency around critical security and account questions. That might be annoying in a social app. In a finance app, it is a deal breaker. I would not trust this platform with money.
Response from developer
We're sorry to hear about any concern with the app & issues you encountered. We couldn't find your information to help further due to the anonymous post. We'd love to help if you could contact us at support@figuremarkets.com so we can look into this further for you.
Review
Response from developer
We're sorry to hear about any delays you encountered. There are processing times for deposits and withdrawals. We couldn't find your information to help further due to the anonymous post. We'd love to help if you could contact us at support@figuremarkets.com so we can look into this further for you.
BTC on Figure
Not ready for prime time
Response from developer
We're sorry to hear about any issue you've experienced. We couldn't find your information to help further due to the anonymous post. There are gas fees associated with staking, which Figure Markets does not control. We'd love to help & hear about more specific improvements if you could contact us at support@figuremarkets.com
Lost hundreds of thousands because of errors and miss direction
I chose USDC specifically because I needed to pay off loans quickly, release the collateral, and use it to cover other loans before liquidation — these were not small positions. I’ve invested over half a million dollars in their products.
I was told that paying off a loan via USDC would release collateral instantly, similar to how a standard payment works. That was not the case. It took nearly four days. In a rapidly falling market, four days is critical. I needed that collateral to pay off another loan, and the delay put everything at risk.
A crypto lending company that can’t facilitate fast liquidity management puts its customers in serious jeopardy. This was easily the most stressful financial situation I’ve experienced in decades. If I hadn’t called repeatedly and escalated to a manager, I likely would have been liquidated and lost hundreds of thousands of dollars.
One star for the reasons above.
Response from developer
Thank you for your feedback. Since your comment was anonymous, we are unable to refer to your application specifically. We recommend you reach out to us directly at support@figuremarkets.com and we can look up your account and provide guidance.
Convenient access to trading/lending
Not Opening
Response from developer
We're sorry to hear about any issue you've experienced. Please contact us at our email support@figuremarkets.com so we can look into this further for you.
9% APY!
Scam and a few platforms made by Fake Cchinaaa don’t waste your money
Account lock
Response from developer
We're sorry to hear about any issue you've experienced. We couldn't find you in our system and we don't have any outstanding or unanswered support inquiries. Please contact us at support@figuremarkets.com so we can look into this further for you.
Love earning 9% on Demo Prime!
No help, ghosted when I tried to contact
Locked
Response from developer
We're sorry to hear about any issue you've experienced. We couldn't find any outstanding or unanswered support inquiries related to the problem you've described. Please ensure you're reaching out to us at support@figuremarkets.com so we can look into this further for you.
They are scammers
Account gets locked
Response from developer
Sorry to hear about your concerns. We'd love to connect directly and see if we can help out in any way. Please email us directly at support@figuremarkets.com
