The Zug-based blockchain company Trade.io today has provided fresh updates about its FX trading brand, dubbed ‘TIOmarkets,’ which will be officially launched with its full capacity on May 28.
The forex product by trade.io was introduced in two stages. At its initial stage in December 2018, Trade.io introduced trading on 130 forex and CFDs instruments including precious metals, oil, commodities, indices, global equities and more. Furthermore, it allowed clients to choose between the MT4, MT5, and PAMM terminals.
At this stage, Trade.io clients were allowed to open their accounts through its St. Vincent and Grenadines entity ــ TIO Markets Ltd. The recently-rebranded firm offers a combination of FX trading utilizing crypto assets as a base currency. Clients were initially able to utilize Bitcoin and Ethereum along with trade.io’s native utility token, TIOx, to access the FX platform. Those using TIOx were offered a 50 percent commission discount and a portion of all revenue generated for trade.io’s liquidity pool.
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FX trading using crypto assets
In an email statement, Trade.io said the second stage kicks off after two weeks and will bring an added option for clients to open their accounts with its FCA-regulated arm TIO Markets UK Ltd., depending on their geographic location. This phase will also see the launch of www.tiomarkets.com.
Also in the Trade.io statement, it is said that in the future users will be able to exchange fiat currencies for crypto assets. In addition, the company plans to list new trading products and allow for fiat deposits in multiple currencies through bank wire, credit/debit card, and various payment processors.
To help strengthen its regulatory footprint and presence in Europe, Trade.io acquired last year Primus Capital Markets, which is authorized by the UK financial regulator and offers brokerage services to professional investors. Primus Capital Markets then rebranded TIO Markets to become the first broker to offer FX trading using crypto assets as the base currency for deposits and withdrawals.
Lastly, this phase will include the launch of different affiliate programs, including CPA and revenue sharing schemes.