One very attractive industry for investors is the foreign exchange market. The influx of participants in the market could probably be due to the fact that it is an international market, but also mainly due to the returns it garners for investors involved. The Foreign Exchange Market or simply ForEx market is an international financial community that bases its commercial activity on the trade of currencies. Currencies are exchanged from one fiat to another and between hands belonging to the traders, liquidity providers, brokers and even banks. Millions of transactions are executed daily and through the brokers who serve as intermediaries.
For each exchange transaction an investor engages in, there is an attached fee that is usually a significant percentage of the entire transaction cost. This percentage which could range from five percent to eight percent of the entire transaction. This is a rather discomfiting form of investment where all mounts of profits cannot be accounted for by the investor.
The use of Brokers as intermediaries for trading activities came about when there was a serious need for more savvy minds to engage in financial negotiations on behalf of investors who did not know the market too well. Over time their seeming importance has increased, and so did their commission fees. Presently, there is no form of any standardization for the commission rates placed by brokers in the industry. Hence, one as an investor cannot attempt to predict future profits due to the fact that commission rates could change at any time.
Whilst we attempt to simplify terms and activities of the foreign exchange market, we must make no mistake of viewing the market as just a mere selling of currencies, as the international exchange of currencies is way more complex and having to involve a convolution of processes in between. This complexity is what has given rise to the increasing amount of time to process exchange transactions. A typical currency exchange could now elapse into days.
The FxPay community can be said to include two major members who can assume various forms and financial positions. They are the trader and the broker. The FxPay community is designed in such a way that every single member of the community stands to gain from being an active participant of the community.
For the TRADER, they stand to enjoy the qualities of the FXP as a utility coin. It being a utility coin implies that it has the potential to appreciate and with each appreciation, there comes profit for the trader. For being a part of the community, they get to enjoy cheaper transactions as they collectively contribute to the growth of the cash flow within the exchange system.
For the BROKERS, they stand to benefit whenever they engage in transfer of funds to the banks or any liquidity provider. FXP would be standing in between as gate between the broker and the Liquidity Provider as well as be an avenue to attach discount to the process.
Also, whenever the broker purchases the FXP token either to carry out transactions with it or just for storage purposes, they get it at discounted rates. This enables them to redistribute in a downward chain to other traders.
In the FXPAY community, the token of use is the FXP, an ERC20 standard token based on the Ethereum Blockchain. Leveraging on the qualities of the Ethereum currency, the platform would be utilizing smart contracts protocols to handle all payments thus saving customers up to 90% of the time they’d usually spend on regular transactions.
The team members have worked tirelessly in ensuring that this project comes out as a work of genius. They have left no room for errors, as they are fully aware that with all financial businesses, the tinniest of errors could amount to the loss of billions of currencies.
There is no argument whatsoever of the enormousity of the Forex market, or of its potential in accruing astonishing rates of profits. What is in contention is the simple question of its challenges giving it free room to expand. Here is where the blockchain technology steps in. By deploying the unlimited capabilities of the blockchain technology, we lift the industry from a regular financial market to a truly decentralized global community of financial dealings.
For more information visit the links below
https://fxpay.io/
https://fxpay.io/pdf/FXPAY_V.1.5.pdf
https://t.me/fxpglobal
https://twitter.com/fxpayglobal
https://www.facebook.com/fxpayglobal
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