Trade.io, a Swiss blockchain-powered finance company, announced this Friday morning that it has delivered its users a belated Christmas present, with the firm officially launching foreign exchange (forex) trading on its website.
With only three days left of 2018, the launch of forex trading capabilities fulfills the promise Trade.io made earlier this month to deliver the product by the end of 2018. As Finance Magnates previously reported, the company stated it would facilitate forex trading from December 27, 2018.
Users can trade forex via Trade.io’s website under the “FX TRADING” tab. Initially, clients will open their accounts through its St. Vincent and Grenadines entity, TIO Markets Ltd. With the launch of FX trading, customers now have access to 130 forex and contracts for difference (CFD) instruments including precious metals, oil, commodities, indices, global equities and more.
Clients can access these instruments through the TIO Markets MT5 Trading Platform on PC, Mac, Android, iOS, and tablet devices. Initially, Trade.io customers will be able to use Bitcoin and Ethereum along with trade.io’s native utility token, TIOx, to access the FX platform, the statement said. Furthermore, the firm will be offering a 50 percent discount on commissions for those using TIOx.
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Stage Two of Trade.io FX Offering
The forex offering by trade.io will be introduced in two stages, with today’s offering completing stage one. The second phase is expected to be implemented at the end of January/beginning of February 2019.
This phase will see the launch of www.tiomarkets.com, which will allow customers to either open an account through its St. Vincent and the Grenadines entity or through TIO Markets UK Ltd., which will be Trade.io’s entity regulated by the Financial Conduct Authority (FCA).
The second phase will also see the introduction of MT4 and the Percentage Allocation Management Module (PAMM), so customers can choose which platform they wish to trade forex on.
Trade.io Launches Exchange API
Trade.io also announced today that it has added an “API” tab. This tab provides information for clients on how to connect to the trade.io Exchange via API.