The Zug-based blockchain company Trade.io today has provided fresh updates about its FX trading offering, which will be launched in two phases starting from next week.
At the initial stage, effective December 27, Trade.io will introduce trading on 130 forex and CFDs instruments including precious metals, oil, commodities, indices, global equities and more. Furthermore, it plans to allow clients to choose between MT4, MT5 and the PAMM terminals.
At this stage, Trade.io clients will open their accounts through its St. Vincent and Grenadines entity ــ TIO Markets Ltd. The recently-rebranded firm will offer a combination of FX trading utilizing crypto assets as a base currency. Clients will initially be able to utilize Bitcoin and Ethereum along with trade.io’s native utility token, TIOx, to access the FX platform. Those using TIOx will be offered a 50 percent commission discount and a portion of all revenue generated for trade.io’s liquidity pool.
Trade.io Gets new CEO
In a Medium post, Trade.io said the second stage kicks off as early as February 2019 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.
Why Ethereum Needs Layer 2 Solutions More Than EverGo to article >>
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 month Primus Capital Markets, which is authorized by the UK financial regulator and offers brokerage services to professional investors.
Lastly, this phase will include the launch of different affiliate programs including CPA and revenue sharing schemes.
Just three weeks ago, Trade.io elevated its Chief Compliance Officer and Head of Capital Markets William Heyn to take on the role of its new CEO, replacing the outgoing chief Jim Preissler. Following the succession of Heyn, Preissler will remain on the company’s Board of Directors.