IronX, solid trading with a large multilingual support team
Establishing an exchange is a hard thing to do. it is not a simple website because it requires extensive security measures. If you set out to establish an exchange you need a large trade in volume, extra strong security, and a team of lawyers to get over the hump all kinds of regulations. what I like about ironX is that they’re not running away from the regulations but they are running towards it. If you watch their video You can see that they have this large building to themselves with their logo on the building and they have a huge multilingual support team working for them. Here is a video that explains all if you want to watch it yourself:
The exchange is formed by combining IronFX Group and EmurgoHK. EmurgoHK is the company that created Cardano, which is the home of the cryptocurrency ADA. What I like about Cardano is that it is fully open source, which increases my trust in this blockchain. In other words, EmurgoHK is a company that is an expert in blockchain and thus, IronX exchange will not be a newcomer to the crypto world. The other partner, IronFX group is an expert in exchanges and they already have over one million users in their database. I like that this company is very experienced in running an exchange and they already have a customer database because it means that it will be up and running faster than we can say IronX. a lot of exchanges are formed by people experienced in blockchain but they don’t know how to attract crowds who are investors to their exchange. Since this company already has more than 1 million customers I sincerely doubt that this will be a problem. Add the 150K Cardano users to this mix, and you have one hell of a user base creating liquidity.
The exchange will not be a simple cryptocurrency exchange, but it will include spot FX, CFDs, stocks, futures, commodities, indices etc. They will have all kinds of fiat and crypto funding options, and I trust things will run smoothly as they have experience in those matters. Whenever I look at a company, what gives me trust is the support team. If they have a professional team that speaks my language, my trust increases because I think this company must be so large, they even people speaking my language! Often times this is the truth. IronX seems to be using its power in this way, as they have a large support team that speaks multiple languages.
In terms of dealing with regulations, they run under various regulators: Financial Conduct Authority (FCA no. 585561) in the UK, Australian Investment and Security Commission (AFSL no. 417482) in Australia, Financial Behavior Authority Sector (FSP no. 45276) in South Africa and CySEC (License no. 125/10) in Cyprus. The users of the exchange will have to do the classic KYC and AML forms and the exchange will get a Payment Institution (PI) license under the Financial Behavior Authority.
Here is some general information on IronX Token:
Tokens for sale: 150,000,000
1 IRX = 0.42 USD
Softcap: 18M USD (passed with flying colors!)
Hardcap: 50M USD
ANN Thread: https://bitcointalk.org/index.php?topic=5059654.0