What is Follex?
As thousands of first time traders join Cryptocurrency Exchanges across the globe every week, the majority of them are faced with the daunting and confusing task of not only navigating complex trading platforms, but also once they have some idea of how it all works, what’s next?
Today's Cryptocurrency Exchanges are sterile and lack interaction. Their focus is generally on how many types of fees they can create for users, and how many Support Tickets they have to ignore, until the customer simply gives up. Also, not forgetting the Companies operating them tend to be housed in jurisdictions, making them immune from any wrong doing.
Follex Exchange brings the social interraction features to the crypto trading markets rewarding successful traders with a good outreach.
Why Follex exists?
FolleX™ - The combination of a powerful Cryptocurrency Exchange and Social Media platform. Allowing users to follow and copy other FolleX™ Traders. You can allocate funds, set limits, and FolleX™ will automatically replicate what your followed FolleX™ Traders do. Trade like a Pro with just a few mouse clicks! Then build your skills to create your FolleX™ Trader following.
The FolleX™ Social Crypto Exchange is like no other exchange. Feature rich in trading tools, yet simple, fun and rewarding in it's use. Designed to bring together a true global community of Cryptocurrency traders. Our vision is to be the "Facebook" of cryptocurrency trading.
The Social Exchange Token - SET
For any trade conducted on the FolleX™ Social Exchange Platform, the trading fee, regardless of amount, can be waived in return for 1 (one) SET token. A SET token could possibly derive a significant value within the trading environment. For example, a $10,000 trade at a commission of 0.3% would cost $30, or 1 (one) SET token relinquished by the holder. A minimum trading fee of $5 effectively gives the SET Token a minimum value of $5 within the FolleX™ Social Exchange Platform.
SET tokens are also used to reward top traders within the FolleX™ platform. When a trade is executed using a SET token, the top ranked trader at the time of the order execution is allocated that SET token. This feature exists to encourage skilled traders to use the exchange, and to frequently trade, thereby advancing their rated position within the community.
- Social features in an exchange might attract completely new user segments.
- Reward structure might attract top traders leading into interesting content creation about the markets.
- The team members have solid track records in digital currency and exchange projects.
- The token price in the ICO is very cheap if the exchange takes off and gets a lot of traffic
- Cryptocurrency exchanges are a very competed market place with big and visible players such as OKEX; Binance and Huobi
- It takes a great user interface and marketing campaign to attract old and new users to a new exchange
- Token price will stay low if the exchange does not manage to attract a lot of trading traffic