SFOX cryptocurrency trading platform
What is SFOX
SFOX is a cryptocurrency trading platform that offers professional-grade trading tools and access to a wide range of digital assets. It was founded in 2014 and is headquartered in San Francisco, California.
SFOX provides a trading platform that aggregates liquidity from various cryptocurrency exchanges, offering traders access to deeper pools of liquidity and better prices. It also offers features such as algorithmic trading, advanced order types, and customizable trading strategies.
SFOX has implemented a number of security measures to ensure the safety of its users’ funds, such as two-factor authentication, cold storage of funds, and regular security audits. It also provides a suite of APIs for developers to build applications and integrate with the platform.
Overall, SFOX aims to provide institutional-grade trading tools and services to both individual and institutional investors looking to trade cryptocurrencies.
The history of SFOX
SFOX was founded in 2014 by Akbar Thobhani, a former software engineer at Airbnb, and George Melika, a former trader at Goldman Sachs. The company’s initial focus was on providing a platform for institutional investors to trade Bitcoin.
In 2015, SFOX received seed funding from Y Combinator and other investors, which allowed it to expand its team and develop more advanced trading features. In 2016, the company rebranded as “SFOX” and launched its trading platform for both institutional and individual investors.
Over the years, SFOX has continued to expand its platform and add new features. In 2017, it launched its algorithmic trading tools, allowing traders to execute complex trading strategies automatically. In 2018, SFOX announced a partnership with M.Y. Safra Bank to provide insured USD deposits for its customers.
Today, SFOX is a leading cryptocurrency trading platform, serving a wide range of customers, from individual investors to hedge funds and family offices. The company has offices in San Francisco and New York City and has raised funding from prominent investors, including Social Capital, Khosla Ventures, and Blockchain Capital.
How SFOX works
SFOX works by aggregating liquidity from various cryptocurrency exchanges and providing access to a deep pool of liquidity and better prices. Here’s how the process works:
- Deposit funds: To start trading on SFOX, users must first deposit funds into their account. SFOX supports deposits in various cryptocurrencies and fiat currencies.
- Place orders: Once funds are deposited, users can place orders to buy or sell cryptocurrencies. SFOX offers various order types, including limit orders, market orders, and stop orders.
- Aggregated liquidity: When a user places an order, SFOX aggregates liquidity from multiple cryptocurrency exchanges, including Coinbase, Bitfinex, and Binance, to find the best possible price for the trade.
- Execution: SFOX executes trades automatically and fills orders at the best available price.
- Withdraw funds: Once a trade is executed, users can withdraw their funds from the platform. SFOX supports withdrawals in various cryptocurrencies and fiat currencies.
Can SFOX be trusted
SFOX is registered with the US Financial Crimes Enforcement Network (FinCEN) as a money services business (MSB) and is compliant with the Bank Secrecy Act (BSA). This means that the company must adhere to strict regulations and compliance standards designed to prevent money laundering and terrorist financing.
Furthermore, SFOX has a transparent fee structure and offers competitive pricing for its services. The platform also provides a suite of APIs for developers to build applications and integrate with the platform, making it a popular choice for algorithmic trading and other automated trading strategies.
Overall, while no trading platform can be considered completely risk-free, SFOX is a reputable and trustworthy platform that has been widely adopted by both individual and institutional investors.
Does SFOX charge a fee
Yes, SFOX charges a fee for its services. The platform has a transparent fee structure and offers competitive pricing for its services.
The fees charged by SFOX vary depending on the trading volume and the type of order placed. For example, the platform charges a maker fee of 0.075% for orders that add liquidity to the order book and a taker fee of 0.15% for orders that remove liquidity from the order book. These fees are reduced for higher volume traders.
SFOX also charges fees for other services, such as deposits, withdrawals, and wire transfers. The fees for these services vary depending on the currency and the payment method used.
Overall, while SFOX does charge fees for its services, its fee structure is transparent and competitive, and the platform provides a range of advanced trading tools and features to justify these fees.