What is Fox Trading?
Fox Trading is a trading exchange for cryptocurrencies and fiat currencies. They recently launched a crowdsale. When you participate in the crowdsale, you’ll gain access to Fox Trading’s “revolutionary algorithm.”
People who participate in the crowdsale will gain a percentage of the benefits of the trading pool. And you’ll gain an “Autotrader” service that gives you profit through the use of automated trading algorithms.
Fox Trading is developed by the company Binary Fox Signals (a platform for binary options trading). This platform was released 2 years ago and have over 1500 active users daily.
But, when a company or project starts using words like “automated trading” and “binary options trading” as an opportunity, you should be skeptical. ICOs who do this are giving out red flags that it’s a scam.
Is Fox Trading another fake investment ICO? Or is it a legitimate opportunity that will give you give you residual profits? We’ll see how Fox Trading works throughout the rest of this post.
How Does it Work?
Users use Fox Trading through an iOs/Android app and a desktop dashboard. Once you invest in the ICO, you’ll obtain lifetime access to their trading platform. Additionally, you’ll have access to some of the profits collected, and trading signals from the Fox Trading Pool.
Fox Trading works through the use of FXT token. However, the site doesn’t give much clarity as to how the token works. It gives you access to a pool of profits and the system, but it doesn’t appear to be used to conduct transactions on the system.
What Issue Does it Solve?
Centralized exchanges only work with fiat currencies, have high fees, and are insecure. This results in the users’ assets getting compromised with through data breaches, government intervention, or other third parties.
Fox Trading was made to give users more opportunity and incentives to trade. With their platform, you can trade not only cryptocurrencies, but also fiat currencies such as the USD, GBP, EUR, and more. It solves the issue by giving users an easy place for them to trade and earn long-term profits in the process.
Token Sale Information
- Website: View
- Whitepaper: Read
- Maximum Token Supply: 35,000,000
- Soft Cap: 500,000 USD
- Hard Cap: 200,00,000 USD
Disclaimer: Our information is used for educational purposes only. Speak to your financial advisor and invest at your own risk.
- Low Fees and Security: Fox Trading ensures that users will receive full security and 0% fees when participating in their network.
- Multi-Platform Service: Users can use Fox Trading through the use of an iOS/Android app or through a desktop.
- Exclusivity: Fox Trading’s key to success is its ability to only allow a few users onto their platform. Under 200,000 users will be eligible to participate on their network.
- Lack of Information: There are a few gaps on the whitepaper that have yet to be addressed. This reduces the credibility of this ICO.
- Uncertainty: No one knows what Fox Trading tokens are used for. They seem to be used just for investing and not any long-term benefit.
- MVP: We would like to see a working version of Fox Trading. But since the ICO is exclusive to only investors, we’ll have to wait to see if any updates occur in the future.
We believe that you should be cautious when viewing ICOs such as Fox Trading. There are a few pieces of important information that was either left out or ignored by the developers. Thus, be careful with this ICO as it has some red flags present.