📈SociumTrade 📉 – Social Trading & Investment Platform

[SociumTrade]

Are you planning to have some rules for joining consortiums? Personally, I find it one of the best ideas of the project. And will there be any geographical restrictions for traders?

Each consortium will have a founder or a head trader who sets the rules that govern its members’ activities and the consortium’s behavior as a whole. These rules are also stored on and enforced by a smart contract.

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[SociumTrade]

the concept is promising. how are you going to distinguish pro traders from the beginners though, and will it be possible to start as a trader from the outset via your platform?

Thank you. Traders will be able to build their reputation by showcasing the skills and performance on their profile pages. Profile pages will highlight strategies and performance records archived on the blockchain, performance and risk grades, peer-to-peer reviews and endorsements.

Recently started my journey in crypto jungles .... with lots of skeptical thoughts, how can I be sure that my money won't be scammed if I trust my funds to individual trader that I have found on your site? You say, they build their reputation with information on the profile, but they can say anything there? If its possible to see their past trading operations, what can you/trader provide as a prove of it? We all know it's risky business, but at least I want to be sure I trust it to the right person.

good question. I guess it's possible, as all trading operations are recorded on blockchain. However, i'm interested if there're any tools which can warn me about suspicious operations done with my investment? I don't have time to monitor trader's activity permanently and I want to be sure one minute unattended won't ruin the lion's share of my capital
 

Also, the contract and legal part, how the relations between trader and investor will be arranged legally? Should I have my own contract templates, trader will have his own or platform will have?

Portfolios are defined by a set of terms that govern duration, minimal investment amounts, deposit and withdrawal procedures, trading strategy, risk metrics, and fee structure. The terms of the agreement between an investor and a trader or a consortium that bind an investor’s funding of a given portfolio are maintained on and are enforced by a smart contract. This ensures that traders cannot violate the advertised terms of their portfolios, and investors can only withdraw funds in accordance with agreed-upon terms.

As for the contract templates: the system will have predefined templates for 3 major cases:
1. Investment contract created by a trader or a consortium
2. Investment contract created by an investor or a fund
3. Portfolio management

[SociumTrade]

Beginner traders' portfolios are highly likely to fail among portfolios of experienced ones - if you attract some, of course. No one wants to trust his capital to someone with almost no background. Have you thought about the ways of managing it? It would be a great chance to start.

Traders will be able to build their reputation by showcasing the skills and performance on their profile pages. Profile pages will highlight strategies and performance records archived on the blockchain, performance and risk grades, peer-to-peer reviews and endorsements. Investors will be able to filter traders based on these parameters, when searching for the next investment opportunity. Outstanding performance in the markets will enable traders to increase their ability to attract capital, negotiate favourable terms, and be invited to join consortiums.

[SociumTrade]

What is the launch date?

SociumTrade v.0.1 is expected to go live in November 2018.

[SociumTrade]

Is there gonna be an ICO launched for this project?

Yes. Public ICO will start on 1st of December.

[SociumTrade]

I was about to ask the same, is there gonna be any restrictions for traders or investors? Im sure there will be a KYC procedure. Is KYC will be a must for Investors?

I like the idea of Pools  - would like to know more on how to join investment pool, as well as will it be possible to organize own?

The Core will be primed with advanced “know-your-customer” (KYC) and anti-money-laundering (AML) services. A lot of effort is being been put into safeguarding the system against potential external threats and avoiding legal grey areas. User data will be stored securely and in accordance with international standards such as the EU’s General Data Protection Regulation.

Investment pool can be open or closed, with open pools accepting unsolicited applications, and membership in closed pools available only by invitation. When an investor receives an invitation to join an investment pool, he receives the terms and bylaws of that investment pool, as well. Those terms govern investment rules, profit sharing, and fee structures associated with the investment pool. Unlike trading consortiums, in investment pools the founder can charge a management fee for the services he or she provides. An investor must accept the terms of the investment pool in order to join it. Yes, you will be able to organize your own pools, say a "family pool", for instance.

[Helena Ruben]

the concept is promising. how are you going to distinguish pro traders from the beginners though, and will it be possible to start as a trader from the outset via your platform?

Thank you. Traders will be able to build their reputation by showcasing the skills and performance on their profile pages. Profile pages will highlight strategies and performance records archived on the blockchain, performance and risk grades, peer-to-peer reviews and endorsements.

Recently started my journey in crypto jungles .... with lots of skeptical thoughts, how can I be sure that my money won't be scammed if I trust my funds to individual trader that I have found on your site? You say, they build their reputation with information on the profile, but they can say anything there? If its possible to see their past trading operations, what can you/trader provide as a prove of it? We all know it's risky business, but at least I want to be sure I trust it to the right person.

Did you even read the original post though? it's going to be handled via smart contract, so that a trader can not violate the initial agreement, which makes perfect sense. Plus all traders' transactions history is going to be visible through the blockchain, and that's the beauty about it

Sure I did, but not all conditions are stated in smart contract ... And I would like to hear the answer from the representative of Socium Trade.

[Digitalizm]

I was about to ask the same, is there gonna be any restrictions for traders or investors? Im sure there will be a KYC procedure. Is KYC will be a must for Investors?

I like the idea of Pools  - would like to know more on how to join investment pool, as well as will it be possible to organize own?

The Core will be primed with advanced “know-your-customer” (KYC) and anti-money-laundering (AML) services. A lot of effort is being been put into safeguarding the system against potential external threats and avoiding legal grey areas. User data will be stored securely and in accordance with international standards such as the EU’s General Data Protection Regulation.

Investment pool can be open or closed, with open pools accepting unsolicited applications, and membership in closed pools available only by invitation. When an investor receives an invitation to join an investment pool, he receives the terms and bylaws of that investment pool, as well. Those terms govern investment rules, profit sharing, and fee structures associated with the investment pool. Unlike trading consortiums, in investment pools the founder can charge a management fee for the services he or she provides. An investor must accept the terms of the investment pool in order to join it. Yes, you will be able to organize your own pools, say a "family pool", for instance.

So, basicly there will be no restrictions? And KYC is a must?

[Viktorija Levi]

Is there gonna be an ICO launched for this project?

Yes. Public ICO will start on 1st of December.

When could we get more information about ICO? Thank you. As I see no information on website yet.

[SociumTrade]

I was about to ask the same, is there gonna be any restrictions for traders or investors? Im sure there will be a KYC procedure. Is KYC will be a must for Investors?

I like the idea of Pools  - would like to know more on how to join investment pool, as well as will it be possible to organize own?

The Core will be primed with advanced “know-your-customer” (KYC) and anti-money-laundering (AML) services. A lot of effort is being been put into safeguarding the system against potential external threats and avoiding legal grey areas. User data will be stored securely and in accordance with international standards such as the EU’s General Data Protection Regulation.

Investment pool can be open or closed, with open pools accepting unsolicited applications, and membership in closed pools available only by invitation. When an investor receives an invitation to join an investment pool, he receives the terms and bylaws of that investment pool, as well. Those terms govern investment rules, profit sharing, and fee structures associated with the investment pool. Unlike trading consortiums, in investment pools the founder can charge a management fee for the services he or she provides. An investor must accept the terms of the investment pool in order to join it. Yes, you will be able to organize your own pools, say a "family pool", for instance.

So, basicly there will be no restrictions? And KYC is a must?

Yes, KYC is a must.

[SociumTrade]

Is there gonna be an ICO launched for this project?

Yes. Public ICO will start on 1st of December.

When could we get more information about ICO? Thank you. As I see no information on website yet.

The White Paper will soon be published on the website and all the detailed information on the project will be provided there.

[Crypto_topic]

From the first sight, I do not think i have come across of something similar before, yes there are trading platforms but i see no features that you offer there. The idea of consortium and investment pools sounds really great! Very promising. Signed up for e-mail updates. When we hear about the details and white paper? What about minimum investment for investors to start to trade with? Thats crucial to know, if I can invest with some minimum. So looking forward for details.

[saddieberg]

As a freelance trader, I am highly interested in your project, though not much info is provided yet. Subscribed to the newsletters, so hope to hear from you guys soon!
And so far I'm interested if I will be able to create and manage multiple portfolios as a trader? I.e. one in a consortium and one (or more) individually.

[saddieberg]

I was about to ask the same, is there gonna be any restrictions for traders or investors? Im sure there will be a KYC procedure. Is KYC will be a must for Investors?

I like the idea of Pools  - would like to know more on how to join investment pool, as well as will it be possible to organize own?

The Core will be primed with advanced “know-your-customer” (KYC) and anti-money-laundering (AML) services. A lot of effort is being been put into safeguarding the system against potential external threats and avoiding legal grey areas. User data will be stored securely and in accordance with international standards such as the EU’s General Data Protection Regulation.

Investment pool can be open or closed, with open pools accepting unsolicited applications, and membership in closed pools available only by invitation. When an investor receives an invitation to join an investment pool, he receives the terms and bylaws of that investment pool, as well. Those terms govern investment rules, profit sharing, and fee structures associated with the investment pool. Unlike trading consortiums, in investment pools the founder can charge a management fee for the services he or she provides. An investor must accept the terms of the investment pool in order to join it. Yes, you will be able to organize your own pools, say a "family pool", for instance.

So, basicly there will be no restrictions? And KYC is a must?

Yes, KYC is a must.

Fair enough, in such a risky environment.

[Gerard Levi]

I like the feature that there will be a possibility to get a loan. Users on the platform can get loans (in fiat currency) using crypto-assets as collateral. I see that smart contracts are ensure execution. Can we get more details on how its gonna work?

[Hidden_Tycoon]

So there will be an ICO? Bounty program? Do you plan airdrops?

[carrieM]

how does it work?

[cryptoDowoo]

hello, how investors will be monitoring distributions of funds?

[RickeyRush]

do you have airdrop or referral?

[waldo13]

Is there gonna be an ICO launched for this project?

Yes. Public ICO will start on 1st of December.

Should investors create a portfolio? Or they can simply choose between traders and contact them directly?