What is Fox Trading?
Following the philosophy from our old binary options platform, we aim to give our users a reliable and stable platform that gives them the opportunity to trade our signals while they are on their free time or sleeping. For some time, we have been thinking about creating a better platform, our goal was to end up offering a complete service for Forex, since we don’t have the limitations on investments and disadvantages that binary options have in this market. At the same time, we wanted to add cryptocurrencies following the recent trend and our user’s claims. — Sergi Rodriguez
Paxtradings Quick Facts
- Algorithmic cryptocurrency prediction and automatic trading service
- $0.34 = 1 FOXT token
- Pre-ICO: February 7, 2018 — March 9, 2018
- ICO: March 9, 2018 — April 7, 2018
- 35,000,000 FOXT total available / 50,000,000 FOXT total supply
- ICO token distribution verified on Clearify
Q&A with Sergi Rodriguez, CEO and Founder
Paxtradings: How does the Fox Trading token (FXT) function within the platform and why is it needed?
Fox Trading: Fox Trading Token will be used to pay services, like signals, robots, and indicators on the platform and also, only for ICO investors, to receive profits from the trading pool based on the initial investment. You will also need to hold some of them if you want to have a lifetime autotrading service, one service that the users that have not participated in the ICO are not going to be able to have if there are no more slots available, they will need to pay FOXT periodically.
Paxtradings: We love your idea of using algorithms to create trade signals. Many investors and users in today’s crypto market may not understand the differences between exchanges and trading services. Can you elaborate on how Fox Trading is not an exchange, but instead a service based on unique algorithmic trading signals?
Fox Trading: We are asked that question often. Yes, Fox Trading is not an exchange like Kraken, Poloniex, Bitfinex. It’s a trading platform that, depending on your membership, will provide signals, indicators, and the Premium Membership will provide a platform that will connect to your exchange account using exchange APIs, and is going to be able to open and close trades for you. So you will have an application that will reproduce the trades recommended by our signals. The platform is going to choose the trade size, the leverage, the stop loss and the take profit. We will support some features, but depending on the trading profile, you are going to be able to change the features mentioned above.
Paxtradings: There is a growing sentiment for investors to use services with a stop/loss or stop-limit order in place. How does your technology differ from setting up a stop/loss or stop-limit order on an exchange?
Fox Trading: Our platform is going to reproduce our orders, so it will open orders and close them, the stop loss and stop limit will be calculated by the algorithm, in that case, the user does not need to think on it.
Paxtradings: On your website, it states: “purchase tokens (FOXT) to gain access to services and current users will need to hold it to keep the lifetime access.” Are you encouraging your community to HODL? If so, what specific benefits and/or service features will your users gain with “lifetime access”?
Fox Trading: Yes, we want our users to give value to our token, this was what we thought when we started with the ICO, we want to ensure that the investors are buying a valuable token. The users that invested and hold will have this Lifetime access to the platform. The difference with ICO investors and holders with ICO sellers and new users is that the two last ones mentioned will need to pay periodically to have access to the platform.
Paxtradings: With over 1,500 coins in the cryptocurrency space, will Fox Trading strive to provide signals for all coins? If so, will this include high volume coins?
Fox Trading: Some trades are still under development. We want to include as many pairs as we can, but the high volatility of the low volume traded coins is too dangerous if we’re going to have a profitable product. For that, we decided only trade high volume coins; we will provide more details once we launch the beta version of the platform on Q4 this year.
Paxtradings: It’s difficult to guarantee anything in the cryptocurrency space, yet in several articles of Fox Trading’s literature, the confidence for much of your potential success is on your previous product, Fox Binary Signals. Can you describe an example of the success Fox Binary Signals obtained and how the currently closed service contributed to the creation of Fox Trading?
Fox Trading: Fox Trading was our latest service; we are the same developers behind it adding now on the ICO more experts on Crypto and Forex. Fox Signals gave a lot of profits to our current users, but soon started to lose performance due to unfair brokers that were market makers and they made you miss trades. These experiences moved our minds to another solution. We will find fair brokers and trades where we can make our earnings bigger and our losses smaller. On binary, you only earn 75% of the entry or lose 100%.
Paxtradings: In your telegram chat, the support team stated that your headquarters is in Spain. With the Spanish People’s Party preparing legislation to include a possible tax break to attract companies using blockchain technology. Did this influence your decision to keep the project within Spain?
Fox Trading: Headquarters are in Spain as we are going to work there, but the token deploy and distribution will be made from another jurisdiction crypto-friendly area like so many ICOs. We can not take the risk to do it in Spain as the law is not yet established. Once it is activated, maybe we need to pay some taxes which we had not yet taken into account.
Paxtradings: We are excited about the potential intercontinental reach (Europe, North America, and Asia) with regard to your advisory team. Taiga Harigai is listed as a key influencer for the Asian market. What are the three ICOs he has contributed to with great success?
Fox Trading: He contributed to Utrust, Naga, and Trade.io, these three ICOs had success and achieved a lot after hitting the exchanges.
Paxtradings: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for 2018?
Fox Trading: During the last quarter of this year, contributors will receive the Beta platform, where they will be able to report issues and improve it. After that, in the second quarter of 2019 they will receive the final version. In 2018, our first goal is to be listed on exchanges around May-June of this year and provide an excellent beta version and more results in Q3.
Paxtradings: As a non-Fox Trading question we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?
Fox Trading: All our team and advisors are really convinced that cryptocurrency is going to change the world, we are changing the power from big banks and big companies to the users of this technology. This is the idea that Satoshi had when he created blockchain. At the same time, the ICOs will give the opportunity to create companies with great ideas with the millions of possibilities that blockchain has. The world is going to change, and we are going to see it. What else can we ask for?
The Pre-ICO begins on February 7, 2018. and ends on March 9, 2018. The launch of Fox Trading and the corresponding Fox Trading token (FOXT) creation process is based on the Ethereum Blockchain. The distribution process will consist of two stages, a Pre-ICO of tokens with extra 50% bonus reward and the ICO stage.
- There is a maximum of 4,500,000 FOXT, priced at $0.34, sold during the Pre-ICO.
- During this Pre-ICO, a 50% discount will be applied to all FOXT token purchases, compared to the end of the main ICO stage.
- The Pre-ICO will last for 30 days, or until the fundraising cap is reached, whichever happens first.
- There will be a maximum fundraising cap of $1,530,000 for this stage. In case there are any unsold FOXTs remaining from the Pre-ICO, they will be added to the ICO cap.
- Minimum transaction amount in Ethereum is 0.1 ETH.
The main ICO will begin on March 9, 2018 and will end on April 7, 2018. There are a total of 35,000,000 FOXT Fox Trading tokens (FOXT) available during the main ICO, representing 70% of the total FOXT supply. A hard cap of $20,000,000 is set for this period.
- During the ICO, a maximum of 30,500,000 FOXT will be sold, unless there is FOXT that was not sold out during the Pre-ICO, in which case that would be added to this cap.
- At the beginning of the ICO, there will be a 20% discount on the first 7 million tokens sold for a maximum of one week.
- The next stages will have a decreased award, 15% for the next 7 million tokens, then 10% for the next 7 million, and the final price of $0.68 for the final 9.5 million tokens. Each stage will last a maximum of one week.
- There will be a maximum fundraising cap of $18,598,000 for these stages.
- Minimum transaction amount in Ethereum is 0.1 ETH.
Fox Trading ICO Stages:
Fox Trading’s ICO soft cap is $500,000. If this is not reached, all investors will have the full amount of their contributions returned to them, minus the transaction cost (GAS) and ICO costs.
The FOXT ICO phase ends either eight weeks after launch or when the maximum FOXT tokens market cap has been reached. After the ICO, if the minimum cap was reached, but not all FOXT tokens were sold, the remaining unsold FOXT tokens will be burned.
How to Participate
Fox Trading is an ERC20 token, so it’s important that contributors use ERC20 compatible wallets to send funds to the ICO smart contract, and to receive the Fox Trading tokens.
$0.34 = 1 FOXT token
- The current accepted currency for Fox Trading is Ether (ETH).
- Participants who want to purchase Fox Trading tokens can do so by sending ETH to a specific contract address.
- Then, they will automatically receive tokens sent to their wallets. In order to finally have these tokens, all users must pass the KYC validation.
- Furthermore, comprehensive instructions on participating in this process are also available at https://foxtrading.io.
- FOXT tokens will be non-transferable until the end of the ICO.
- There are a total 50,000,000 FOXT tokens being created, with 35,000,000 FOXT available during the Pre-ICO and ICO.
- Fox Trading Token (FOXT) is a utility token based on the Ethereum Blockchain using standard ERC20 contracts with a final price of $0.68.
Contributors will have their tokens distributed shortly after the end of the ICO. Visit the Fox Trading website for more information and the contribution address.
- 40% will be dedicated to servicing on the development team and the creation of platforms.
- 15% will be spent on marketing aimed at attracting new users to the platform and creating a community interested in the token and the service.
- 15% will be invested in the Trading Pool to provide profits to the ICO investors.
- 25% is for capital expenditures and advisors
- 5% for legal and compliance fees.
View the Fox Trading website here.
View the only comprehensive list of active and upcoming Initial Coin Offerings (ICOs) here.
- Fox Trading Website, Fox Trading (2018)
- Fox Trading Whitepaper, Fox Trading (2018)