FXPay: Boosting Trading Activities on Forex via Blockchain.

4 min readAug 29, 2018

INTRODUCTION

Fxpay is a cryptocurrency platform that integrate dynamics developments into the forex market. The Fxpay has its own token built with robust technology under the Ethereum smart contract to meet the needs and current demand of both traders and brokers in the forex market.

FXPAY pose its self as a change agent in the forex market. Using blockchain technology, it addresses all the challenges and inefficiencies existing in the current forex market. There average transaction time of FXPAY Is relatively shorter than the existing system in the forex market. Furthermore, the transaction fees on the FXPAY platform is low, it lies between 0.5 % — 1% unlike the existing platform in the forex financial market that charge up to 7% hence serves as a point of attraction for forex brokers to come onboard the FXPAY platform.

FXPay basically aims to address the current inefficiencies within the market and to provide cost-saving solutions to brokers, traders, and liquidity providers with proper utilization of the blockchain technology, Fxpay create a platform where traders can convert their fiat currency to fxpay token to continue to trade when the market has shut down for the week in other decentralized exchange to maximize profit.

FXPAY FEATURINGS FOR THE FOREX MARKET

• Smart Contract
Fxpay token is built on the Ethereum Smart Contract (ERC-20) and utilizes this technology for fast payment. Traders can save more fund from charges from brokers using the payment method of Fxpay.

• Social wallet for android and IOS wallet
Fxpay has develop an authentic mobile application where users can store cryptocurrency, these wallet is users friendly with beautiful interface, and it require high level verification to authenticate it to users. Users of the wallet can transfer coins or token to the forex market for trading.

• Payment Gateway
Fxpay feature gateway to the payment system for easy and fast transaction, this allows brokers to make instant payment to liquidating providers of fiat currency and cryptocurrecny transactions through the blockchain technology this enable trader to enjoy low transaction fees compare to the conventional forex trading charges.

• Debit card
Fxpays allow users to have access to fiat currency of their choice in the forex market, fiat currency can transfer from their brokerage account to the Fxpay debit card which makes trader to shop online and offline with the Fxpay debit card. Fxpay debit card makes life easier through the partnership with Master Card.

• Mirror Trading
This is fxpay technology to make trading more effective and enjoyable to all traders. Users of Fxpay will have access to the analysis, strategies, signal profit history of expert in the forex market and once their account has be linked and enable on the platform. Fxpay uses this methodology to grown newbie, intermediate and some few upcoming Expert in the forex market.

BENEFIT OF FXPAY

• Utility coin
The fxpay token is a utility token which increases in value as users continue to trade with on the forex market .the fxpay token processes many transaction meeting current demand of the foreign exchange market.

• Liquidity providers
Fxpay bypasses the middleman in foreign exchange by laying down their liquidity structure in the platform. Users can have easy access to the liquidity provided by Fxpay anytime at their comfort zone. This makes the fxpay more dynamic in nature, every users is happy.

• Bonus
The fxpay offer cash back bonus to Pre-ICO & ICO investors who are within the fxpay community. This cash back is 100% and investor who possesses the fxpay credit can use these credit to trade in global foreign exchange.

TOKEN DETAILS

Token Token — FXP
Standard token — ERC20
Private sale period — from 1 to 30 April 2018
Pre-sale period — from May 1 to July 31, 2018
The value of the token during the private sale is $ 0.65 (20% Bonus). Free FOREX credit — 100%

Acceptable currencies: Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), Tether (USDT), Tron (TRX), Happy coin (HPC)

Pre-Sale Period:

1st stage — $ 0.75 (15% bonus)
Stage 2 — $ 0.85 (Bonus 12%)
Stage 3 — $ 0.95 (Bonus 10%)
Stage 4 — $ 1.05 (Bonus of 9.5%)
5th stage — $ 1.15 (Bonus 9%)

Period of public sale:

1st stage — $ 1.25 (Bonus 8.5%)
Stage 2 — $ 1.35 (8%)
Stage 3 — $ 1.45 (7%)
Stage 4 — $ 1.5 (6.5%)
Stage 5 — $ 1.55 (6%)
Stage 6 — $ 1.6 (5%)
Total amount of issued tokens: 500,000,000 FXP