Fox Trading in a nutshell is a trading platform that offers a bunch of services that will help you make money investing in Cryptocurrency. It has a proven track record in forex trading and at the behest of it's current user base is expanding to create a Cryptocurrency platform as well. I will explore the positives and negatives I see for investing in this ICO. The ICO is live now and is going until April 8th.
How it works - They have an algorithm based on 2 years of successful trading in forex trading, it shows them buy/selling opportunities and Fox Trading traders take advantage of them as this happens it sends a signal to either you or your bot telling you to buy or sell said opportunity. In the 2 years they have been forex trading with their algorithm they are boasting a average per month profit increase of 20% along with a 338% overall total profit from February 2016 to December 2017.
So from those numbers you can see their algorithm works for forex trading. Will it work for Cryptocurrencies? I tend to believe it will. Technical analysis undeniably works for crypto and I believe it will continue to work better and better as the crypto market matures. I don't think this is to much of a stretch to believe if their algorithm and their traders can be successful in one currency market that they can be successful in another similar market with a few tweaks.
Onto the most important part of any ICO review, is the token tied to the product? Yes it is, its the only way to gain access to the platform it has some additional benefits as well. It's of paramount importance that the token be tied to the product because it doesn't matter to you the investor, how great the product is if the investment token doesn't rise in value with said product this goes for any ICO or existing crytocurrency you are thinking of buying. So what does token ownership get you exactly.
Permanent and free access to the fox trading platform
Receiving trading signals for manual or bot autotrading
Trading pool profits equal to their investments
Limiting the number of people that have access to the platform drives up value and ensures the algorithms profitability. It also has a deflationary token burn for people buying into the platform after the ICO. This is always a great thing as less tokens means yours are worth more.
The total token supply is 10,000,000.
- 70% of the tokens allocated to the investors (7,000,000 FOXT)
- 15% for developers and company reserve (1,500,000 FOXT)
- 10% for rewarding advisors (1,000,000 FOXT)
- 5% is used on Bounty program and marketing (500,000 FOXT)
I really like the breakdown of the token distribution. In general I'm looking for 60%+ of the tokens sold going to investors, this is because when developers or advisors want to cash out some tokens it doesn't flood the market and devalue your token investment. The token sale has a bunch of stages based on bonus token percentages.
Tokens for sale Price Discount Price with discount Total
1,000,000 FOXT $0.68 50% $0.34 ~$340.000,00
1,000,000 FOXT $0.68 20% $0.54 ~$544.000,00
1,000,000 FOXT $0.68 15% $0.58 ~$578.000,00
1,000,000 FOXT $0.68 10% $0.61 ~$612.000,00
3,000,000 FOXT $0.68 0% $0.68 ~$2.200.000,007,000,000 FOXT ~$4,200,000.00
We are currently in the 15% bonus (as of writing this) stage for another 3 days. This gives this ICO a starting market cap of only 4.2 million dollars if it reaches it's hardcap (tokens not sold will be burned). This is a really low market cap and that is a very good thing imo. It would debut at 586th on coinmarketcap.com this leaves a massive amount of room for growth. It would have to 10x in value just to crack the top 200 and 25x to get into the top 100. I bring that up because this has a working product attached to it right off the start (forex currency trading) albeit not one directly connected to crypto as that part of the platform is slated for Q4 of this year to Q1 of next year. Most of the top 200 or even top 100 coins don't have a working product at all they only have speculative product at this point.
I write these reviews because I enjoy doing them as well as it makes me look further in depth into the ICO to see if it is worth investing for me. In my opinion this ICO has plenty of positives for the long term as well as possible short term gains to be had even in the current market (which is showing signs of turning around). So if you found any of this useful and are going to invest
Join the project right here. Final note, I'm not your financial adviser if you find this ICO interesting please do your own due diligence to make sure it is a good investment for you and good luck.
