The foreign exchange market can be called the global decentralized market for virtually exchanging currencies. Simply put, foreign exchange is converting a currency into another currency. As we move towards a globalized world, the number of foreign exchange transactions has increased significantly in the past few years, and a huge recruitment took place. It is a pity that the current foreign exchange market faces serious problems that are not dealt with properly. This includes high deposits and withdrawal fees, lack of consistency with respect to broker fees, delays in the entire exchange process and other things.
The FxPay team is trying to utilize block chain technology to address the aforementioned foreign exchange market problem. They are focused on implementing cost-effective solutions for brokers, traders and liquidity providers.
What is fxpay Problem space
What is watching the market widely adopted in this dilemma is overwhelming. The trading process in the foreign exchange market has proved to be ineffective and complicated, and it also faces the problem of lack of consistency on brokers.
Let’s look at some of the key issues that are hampering the expected superior performance of the foreign exchange market.
The problem of transaction fee was not put on the list. Individual traders need to pay the exchange fee in the range of 5 to 7% of the total transaction amount. This created barriers to novice traders getting into the market and contributed to the attractive nature of the market to anticipate investors.
The broker also pays a 5-7% commission on trading with liquidity providers. A large broker platform with a huge number of investors wastes useless unnecessary costs in my opinion.
The complexity of the foreign exchange market takes several days the process of exchanging money.
FxPay focuses on the introduction of digital currencies (FXP tokens) by traders and brokers, making it much easier than what you are already familiar with. This makes it easy to convert FXP tokens to monetary values on the platform.
Instead, traders can use Forex Credit to participate in the market. After the trade is over, you can convert it to FXP token or other cryptic abuse. Because of its flexibility traders can keep their currency credit for future trading or exchange them for money via the forex trading platform with a very reasonable fee.
In FxPay Inc.’s solution model, reducing commission and transaction speed is an important factor. They will try to deploy a trading platform that looks attractive to cryptocurrency investors so that they can participate in the foreign exchange market. Preparation for the era when market volatility is high (FXP can be used as a big hedging opportunity). Crypto investors can exchange cryptographic assets equally until the market is stable.
Profit to stakeholders
For ciphers and foreign exchange operators, the FxPay ecosystem is programmed so that the price of coins will gradually rise over time. The numerous advantages of FXP (user burden, speed of speed, etc.) cause a huge cash flow on the exchange platform.
On the broker side, FxPay serves as a payment gateway for transactions with FxPay and liquidity providers or banks. This is a discount program that is attractive. The broker will receive a discount on the transaction. This average broker intends to save a lot on the transaction fee.
Purchase of FXP will be made available immediately to brokers providing amazing discounts and will be distributed to traders. FXP coins are taught as a customer acquisition and retention mechanism for brokers.
Ticker symbol: FXP
Token Protocol: FXP is issued and operated under the ERC 20 infrastructure.
Total supply: 500,000,000 FXP TOKENS
Private Sale Period: January 30 – 30, 2018
Pre-release sales period: January 31, 2018 – July 31, 2018
Open Sales Period: January 31 – January 31, 2018
Ethylene (ETH), Bit Coin (BTC), Bit Coin (BCH), Tether (USDT), TRON (TRX), Happy Coin (HPC)
Website: https: // fxpay.io /
White paper: https: // fxpay.io / pdf / FXPAY_V.1.4.pdf
ANN THREAD: https: //bitcointalk.org/index.php? Topic = 3851151
Telegram: https: //t.me/fxpayglobal3
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