FXBK is a token that was created for the purpose of enabling individuals to participate and profit in the Forex Market through trading. The proceeds of the sale of the tokens, will go into a trading account which will be traded using Algorithms that have been developed in house. Then 50% of the profits will be used to buy back the coin on the open market at the offer price from the exchange that we will list on. Hence the name FX buy back.
We do not intend to solve blockchain issues. Actually, the blockchain solved our issues. We are using the blockchain to make business efficient. In the traditional financial markets, a single order passes from the buyer through a broker, then to a market maker, then to a high frequency trader, and finally to the exchange. The same process applies on the seller’s side. After that, a clearing bank has to process the payment, and evidence of ownership (stock certificate) has to be delivered through the DTCC. Everyone gets a cut, and every broker dips into our pockets every time a transaction happens. With the blockchain, it’s simply a transaction from the buyer’s wallet, to the exchange, and then to the seller’s wallet. Token is exchanged for crypto or vice versa. No fees, no brokers, no market maker nor HFT. Simple, efficient, safe and secure.
FXBK is a fully automated trading process, and we are making it available to the average person. This kind of trading was available only to hedge funds, institutions and big investment banks.
The process of selling tokens and buying them back at a higher price, using funds that will be generated from profits, may be lucrative to many individuals.
FXBK token concept, based on erc20 protocol, is a new and innovative way to utilize the blockchain.
