Finxflo FAQ

For any issues or concerns while using the services of Finxflo, find the answers here.

FAQ

FinxFlo as a company
What is FinxFlo (FXF)?
FXF is a global crypto brokerage designed to help traders access the best prices with an unparalleled level of efficiency. By aggregating offers from the world’s leading exchanges, FXF helps to eliminate market distortions and achieve the optimum buy or sell price for all orders. Users can take full advantage of the access to multiple exchanges with just one account, one wallet and one KYC process.
Who are FXF’s advisors?
FXF is supported by a highly qualified board of senior advisors:
  • Mark Hammond - Head of Flow Products and API for Liquid Quoine Exchange
  • Stefano Virgilli - CEO of Pocket Money Group
  • Dr. Anthony O'Sullivan - Strategic Market Analyst at Palomar Technologies
  • Michael Terpin - CEO of Transform Group
  • Chris Williamson - Managing Director of Tower Brands
Where is FXF headquartered?
FXF is headquartered in Singapore.
How many countries will FXF be operating in?
FXF is headquartered in Singapore and has offices in US and UK. Our platform will be made available for everyone globally to trade on.
What differentiates FXF from other aggregated trading platforms?
FXF has several features that sets it apart: Our proprietary smart order routing algorithm distributes the user’s orders across multiple exchanges simultaneously to achieve the optimum buy or sell price, while reducing the slippage from large orders. The introduction of dark pool trading on FXF helps to minimise the impact from broader market sentiment; this feature allows traders with bigger positions to move in/out of trades without revealing their interests thus avoiding front running while ensuring that they will be able to get the average of the best available bid and ask price, as compared to demand/supply factors. By partnering Fireblocks, a third-party custodian, client’s funds are never placed directly on underlying exchanges – only the margin is placed – which significantly reduces hacking risks. With zero withdrawal fees and highly competitive trading fees of 0.1%, this makes us one of the most if not the most cost-effective crypto exchanges in the market.
Where is FXF regulated?
FXF will be submitting an application to the Monetary Authority of Singapore (MAS) in July 2020 for a payment institution license under the new Payment Services Act (the “Act”). We are currently permitted to operate under the grandfathering provisions of the Act to provide a digital payment token service while regulatory approvals are being obtained.

Account Functions
How does FXF work?
FXF is a crypto exchange aggregator designed to help traders access the best prices. We reduce the complexity of crypto trading by facilitating access to multiple crypto exchanges with 1 registration, 1 KYC process and 1 wallet, coupled with an easy-to-use interface. Our proprietary smart order routing algorithm distributes the user’s orders across multiple exchanges simultaneously to achieve the optimum buy or sell price, while reducing the slippage from large orders.
What is the process of registration on FXF platform?
New users can sign up on our website (http://finxflo.com). Once the KYC process is completed, the user can proceed to deposit funds into his/her wallet and start trading.
When will the platform be launched? Will a demo version of the exchange be made available prior to the official launch?
We will be unveiling the web trading platform and app (on IOS and Android) on July 5th, 2020. Beta-testing is scheduled to conclude in December 2020, and we intend to launch the platform fully in January 2021. Demo trading will be made available throughout, even after the full launch.
Which exchanges will you be aggregating at launch? What are your plans to increase the number of aggregated exchanges?
We are now in the process of aggregating the exchanges and will be able to offer our users access into more than 25+ exchanges worldwide by January 2021.
Which cryptoassets will you be offering?
There are currently 5 tradeable crypto currencies available the platform: ETH, BTC, XRP, USDC, USDT
What kind of order types do you support?
We support all major order types for spot crypto trading. At launch, we will be offering Market, Limit, Stop and Stop Limit orders.
Where will users’ crypto assets be held?
FXF partners with Fireblocks, a cutting-edge custody provider used by the world’s largest institutional players. With its patent-pending SGX and MPC technologies, Fireblocks offers a higher level of security than a typical cold storage solution; one single person cannot sign a transaction as signing authority is spread across multiple signatories. Fireblocks thus effectively mitigates the risk of hacks and unauthorized transactions, and to add to that all assets are fully insurable.
Does a user have the option of using his or her own preferred wallet?
We currently do not provide this option. Each user who signs up to our platform is granted access to one wallet on our platform that can be used to trade over multiple exchanges.
Will users be able to use fiat currency on the platform?
No, however we offer crypto-to-fiat and fiat-to-crypto conversion through a partner i frame that is available on the platform. The i frame supports 20+ currencies and this will be expanded regularly each year. We also offer access to purchase over 200 coins and altcoins through the i frame, and we are aiming to expand this as we progress.
How can users buy cryptocurrency on FXF?
Users can do so either via our web portal or the FXF app (available both on IOS and Android). They can purchase crypto using their debit or credit card if they do not own any coins or tokens.
What are the market hours of the platform?
24 hours a day x 365 days a year, except during any maintenance periods
What are the customer service hours?
24 hours a day x 365 days a year

Deposit and Withdrawals
What is FinxFlo’s fee structure?
FXF charges a trading fee of 0.1% on each trade made on our platform. We do not charge any withdrawal fees, even for same-day withdrawals.
Will there be a minimum deposit?
No, there isn’t a minimum deposit.
Will there be a maximum transaction value?
There is a 24-hour volume limit of US$200,000 per user to ensure that any fraudulent activity can be easily picked up. We intend increase the limit over time and this will be reviewed by our compliance team thoroughly.
Can the rates change during the transaction?
Slippage occurs on every platform, however in our technology stack, we will be setting up as close as we can to our major liquidity partners, with an ultra-low latency cross connect setup. This means if one server fails or goes down, we have an automatic fall over so there will be no interruption in service.
What is FXF’s commitment to responsible trading?
FXF has a responsible trading policy in place to encourage responsible trading among all users on our platform. We ensure that the relevant webpages contain risk disclaimers, in recognition of the fact that all trading involves risk. We do not offer margin trading, so there is no option to trade cryptos with leverage. We encourage all users to consider their trades carefully and invest only in what they know. We will also be making demo trading available throughout, which will allow new users to practice trading on our system without risking real capital. You can learn more about our responsible trading guidelines here: https://www.finxflo.com/rulebook

Token Sale
What will your token be used for?
Our native token (the “FXF token”) is a utility token to be used to pay fees on the platform.
When does the initial token offering start? What is the sale period?
Our private sale is scheduled to take place on 10th July, and we will be launching the public token sale on 15th July. The token sale will be open for six months.
How can I participate in the token sale?
You can participate by registering on the website: https://ico.finxflo.com/. After successfully completing the registration and KYC process, you will be entitled to make a contribution.
How will the FXF token be allocated?
50% - Public Sale 38% - Locked (27% - Operations / 11% - Founders’ Team) 5% - Private Sale 5% - Partnerships 2% - Competitions Please see the “Token Allocation” section of our whitepaper for more details.
Is there a minimum/ maximum purchase size?
The minimum contribution is USD 500.00 (or equivalent in BTC/ETH). There is no limit on the amount of tokens that can be purchased.
Who is eligible to participate in the token sale?
You are advised to check with your local authorities if you are legally eligible to participate. You are not eligible and shall not purchase the FXF token if you are a citizen or resident of: (i) the United States of America, (ii) Malaysia, (iii) Japan or (iv) any country, state or territory where the purchase of tokens or cryptocurrency is prohibited. To participate in the token sale, you will first have to register on our website. You are required read the terms and conditions and agree that you do not belong in any of those countries that we are not able to accept funding from. By purchasing FXF tokens, you represent and warrant that you are legally permitted to do so and assume all responsibilities for complying with applicable laws and regulations.
Is there a referral/ bounty program?
Yes we are running a bounty campaign. The campaign management provider is bountyOX, and they will help ensure there are no spammers.
Will FXF offer any staking mechanism?
Yes, however this is not governed by FXF and is entirely dependent on the coin itself. We understand that staking a very important aspect to owning and holding digital currency, and will support traders in their ability to do so.

Security
What is your KYC process?
We partner with Truiloo for our Customer Identity Program which adopts industry-leading customer due diligence practices. Truiloo also conducts ongoing monitoring to check the status of any customer changes.
How will FXF ensure that it is not being used to facilitate financial crime?
FXF rigorously enforces anti money laundering (AML) and combating financial terrorism (CFT) measures in accordance with the standards imposed by the Monetary Authority of Singapore. Through our partnership with Chainalysis, we will go above and beyond the mandated compliance requirements with the introduction of a Know Your Transaction (KYT) process, allowing us to provide a safe and secure trading experience for all. Machine learning is also being used to monitor transactions and detect any suspicious pattern or activity.
How will users’ data be protected on FXF?
All users’ data will be protected via end-to-end military grade encryption. Our procedures are in line with Singapore’s Personal Data Protection Act and other international data privacy laws. Additionally, we regularly subject our security infrastructure and policies to external security and compliance audits by NCC Group, a global expert in cyber security and risk mitigation.
What security measures does FXF have in place to ensure that users’ assets are secure?
FXF partners with Fireblocks, a cutting-edge custody provider used by the world’s largest institutional players. With its patent-pending SGX and MPC technologies, Fireblocks offers a higher level of security than a typical cold storage solution; one single person cannot sign a transaction as signing authority is spread across multiple signatories. Fireblocks thus effectively mitigates the risk of hacks and unauthorized transactions, and to add to that all assets are fully insurable.