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Author Topic: What stock exchanges lack? Convenient trading  (Read 262 times)
a.bart
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July 24, 2019, 04:11:45 PM
Last edit: August 02, 2019, 11:24:48 AM by a.bart
 #1

Dear colleagues, I’m here to ask for your opinion. Our team of traders and developers is launching FUMGO, a new service for exchange trading (FAMGO in Russian — why? Well, that’s another story). Now the service is working in a test mode. As we are finalizing the basic functions, I’d like to ask you to share your opinion about our platform and what trading tools on the exchanges you’d like to use.

I’ve been trading for more than seven years, almost 4 of them in cryptocurrency. I trade for myself and for my clients as a trustee. I didn’t like that the built-in tools for managing positions and transactions on exchanges are cut compared to traditional trading. It is inconvenient. Therefore, we’ve gathered a team and decided to create a service offering all these tools.

We aimed to solve a few problems. We wanted to facilitate recording, expand trading instruments on exchanges, and offer an alternative to trust management, which will be more transparent. The service was created on the basis of our needs, but sure we could have missed something. Any opinion will be appreciated.


Our platform has two main groups of functions. We assume that the first group of tools will be demanded by experienced traders, while the second one mainly by beginners. Here they are:

  • The first group is the advanced trading functionality, close to the classic Forex, that everyone is used to.
  • Automatic trades copying, that creates orders at FUMGO. This is mirror trading. Now we have several traders and our own channel so that people can subscribe to it for free and check how it works. Advantages over the trust management: the money remains with you, and you can stop copying transactions at any time. And no need to follow lots of Telegram channels.
    By the way, if you have experience in trading and you want to make money, DM me — I will tell you the terms for participation for traders.
  • We have an official Facebook, Twitter and Telegram channel where we regularly post the news on our project and market analysis.

 
How to Start Working on FUMGO

To make a new profile on FUMGO work, one should add their exchange’s API keys to the platform. Then you can connect any amount of accounts of one and the only or different exchanges.

Sure, there’s a lot of scum that’s why we advise you to use only the keys with no right to withdraw. You can even create a separate account for trading on FUMGO. One more thing about security: we work under GDPR, and don’t have access to your keys, so the keys are visible only to their owners.

You don’t need to have a balance for trading on FUMGO, you will pay only for the service subscription and traders (the second one makes sense only for mirror trading). After signup you will have free one-week trial access — it seems to be enough for testing main functions.

All in all, you can trade by the terminal or not enter the exchange through its interface at all, because during the bidding process the service takes all the necessary data on balance and a closed trade. Here we’d like to know which data are really important for you and which you lack. Share your opinion, please.


What Our Interface Has to Offer

  • Smart trading. You can create any types of orders on FUMGO using trailing, setting Take Profit and Stop Loss (dividing into steps, applying trailing). You can set order parameters using chart and edit steps (targets) TP/SL after creating/finishing the main order.
  • Mirror trading is automatic copying of trades of the chosen trader on your account.
    Transactions are made in the same percentage ratio to the balance as that of the trader, but in the limits, you have selected. Mirror trading is a good choice to start for those who don’t want to dive into market analysis and spend time on trading by themselves. To find out more, click here.
  • In addition, you can customize alerts for currency value changes. This feature is available immediately after registration and you don’t need to add the keys on exchanges for that.
  • Available exchanges: Binance, Bittrex, Bitfinex, Huobi Global, Okex, HitBTC, CEX.io. If you need to add any other exchange, DM me here or in Telegram.

Margin trading will soon be added.

If you read it all through, thank you. I will be glad to answer any of your questions and appreciate your suggestions and feedback on our platform. Even negative feedback will help us to improve the service. Fumgo.com

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July 30, 2019, 12:02:59 PM
 #2

What is the minimum amount you can start with?
Fumgo.com
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July 30, 2019, 01:05:43 PM
 #3

What is the minimum amount you can start with?
Fumgo does not limit the amount of transactions and does not require a deposit to start trading. It is a trading terminal, not a broker.
The transaction is limited only by the size of the minimum order that exchanges allow, on average it is about $10. When you are creating an order on Fumgo, the terminal will tell you whether the exchange will allow your order.

I would like to draw your attention that you do not need a deposit on the platform to start trading. You need to connect your account with balance on one of the available exchanges (Binance, Bittrex, Bitfinex, Huobi Global, Okex, HitBTC, CEX.io) with API-keys.
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July 31, 2019, 08:30:18 PM
 #4

How to set the trailing for TP / SL? are there any links to instructions?
Fumgo.com
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July 31, 2019, 10:08:34 PM
 #5

How to set the trailing for TP / SL? are there any links to instructions?

Of course, here you can find the detailed instruction: https://fumgo.com/ru/help-center/how-to/sozdat-order#take-profit-RU
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August 01, 2019, 05:46:27 PM
 #6

How orders will execute, if there is no access to my API?
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August 01, 2019, 06:40:25 PM
 #7

How orders will execute, if there is no access to my API?
Orders are executed on your exchange only after you connect your profile with API keys.
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August 01, 2019, 06:53:14 PM
 #8

Few tips for your ANN:

1. For better visibility, move this to Service Discussion > Exchanges (Check the "move to" option at the bottom of the page (left side).
2. You do not need to hire all these thread bumping services.
3. Please make a better presentation like adding some screen shot.


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August 01, 2019, 07:02:27 PM
 #9

Copy trading -- is the feature I have been looking for in crypto space for years. It would be too good if copy trading will be available for free of cost the times across all level of traders as I do see traders who are performing well with their trades are not available for following for free in most platforms.

Accurate in-house prediction calls -- I can understand the dangers of having such one. Still, I guess crypto exchanges are lacking in providing that feature.


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August 02, 2019, 04:54:15 AM
 #10

Few tips for your ANN:

1. For better visibility, move this to Service Discussion > Exchanges (Check the "move to" option at the bottom of the page (left side).
2. You do not need to hire all these thread bumping services.
3. Please make a better presentation like adding some screen shot.


Thank you kindly for your advice, we’ll get a look at that topic and consider adding some screenshots.

Copy trading -- is the feature I have been looking for in crypto space for years. It would be too good if copy trading will be available for free of cost the times across all level of traders as I do see traders who are performing well with their trades are not available for following for free in most platforms.

Accurate in-house prediction calls -- I can understand the dangers of having such one. Still, I guess crypto exchanges are lacking in providing that feature.
The mirror trading feature is already available on our platform. We continue developing it to make it run smoothly.

Free mirror trading channels on a global scale is a myth I think, as any successful trading strategy comes with a lot of work, so why should anyone give it for free? But we decided to introduce an in-house copy channel which you can follow without subscription payment. Technically ‘FUMGO signals’ is free, but for it to work correctly, you will need to have an active paid subscription to FUMGO service. Otherwise, the trial subscription limits will apply, and you will miss out some opportunities.

As for prediction calls on exchanges – I think this feature may have legal consequences for them for a number of reasons.
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August 02, 2019, 05:05:04 AM
 #11

I have read your whole post OP, and I do agree that there are somethings that stock exchanges lack. Anyway, the feature I like most is the copy trading. It's like what e-toro is advertising where the program would connect to the exchange and copy a traders trade. I think that would be a useful feature with every trading program.

I hope margin trading would be included soon enough with your program, and I trade in Bitmex most of the time. I would probably check your GUI and features soon. 




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August 05, 2019, 12:26:52 PM
 #12

I have read your whole post OP, and I do agree that there are somethings that stock exchanges lack. Anyway, the feature I like most is the copy trading. It's like what e-toro is advertising where the program would connect to the exchange and copy a traders trade. I think that would be a useful feature with every trading program.

I hope margin trading would be included soon enough with your program, and I trade in Bitmex most of the time. I would probably check your GUI and features soon. 
Both – margin trading and Bitmex are a work in progress right now. We will update this topic as soon as these features are available on the platform. What would you look for in a trader to copy? We want to provide meaningful stats to help you pick the right trader.

We're also introducing quite a lot of changes to the UI right now to make UX more fluent and intuitive. So if you're going to check out FUMGO in a while, you'll probably find yourself in an updated UI.
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August 06, 2019, 07:15:37 AM
Last edit: August 06, 2019, 06:00:27 PM by Fumgo.com
 #13

Do I have to do KYC to get a withdrawal?
Is the transaction fee high? If I hold Fumgo token, will I get a discount on the transaction fee?

Hi!
Thanks for your questions, let me try to clarify things a bit for you.

FUMGO doesn't process your crypto directly. It provides tools for more efficient trading and risk management, which exchanges lack. So all the coins you decide to trade with, stay at an exchange of your choice.
When you make a withdrawal, you make it directly from that exchange, so there's no need to pass KYC at FUMGO. And you will only have to pass KYC at an exchange if you reach a particular withdrawal volume per amount of time (day/week/etc.).

An exchange determines the fees you'll encounter while moving your assets. You can check this info on the website of your exchange.

FUMGO isn't an ICO, so there are no tokens.
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