Sponsored By
de | cn | ru

Market News

Eo.Trade – another ICO aiming to bring crypto and traditional markets together?

Eo.Trade is an ICO created by the people behind an already existing binary options broker – Expert Option. The full scope of the project is very broad, but each step is connected to a specific level of capital gained from the coin offering. We will present them, as well as some information on the team involved and the new token itself.

 

Who is behind it?

 

ExpertOption is a binary options broker, which we have reviewed. The company offers a very dynamic trading environment – the maximum duration of a deal is only 2 minutes. The focus is primarily on more traditional financial instruments – forex pairs, oil, metals and a few (while cryptocurrencies are also available). When compared to other similar companies in the field, ExpertOption isn’t a very credible one, due to some regulatory issues, which we have written extensively about in our review. The short version is that the “licensed broker” claim, which they make on the ICO website isn’t that correct.

 

Different systems will come with milestones

 

For now, Eo.Trade is an idea. An idea to create several interconnected websites, which will allow users to trade cryptocurrencies and more classic financial derivatives. 

 

-Eo.Trade – this will be a cryptocurrency exchange. The team has made promises for the fastest KYC and Withdrawals in the field, which is a very bold statement (alongside the one for the “most powerful engine among crypto exchanges”). 

 

-Eo.Finance – this part of the ecosystem will be a platform for multiple assets, both digital and fiat. The main service which will be offered is converting crypto to fiat and vice versa. In essence, this will be a multi-purpose wallet and exchnager.

 

-ExpertOption – this is the binary broker behind the ICO. The website is completely functional and accepts fiat currency deposits, allowing traders to place predictions on the short term market fluctuations. A fully tokenized environment will be in place, presuming enough capital is gathered.

 

-Eo.News – this will be a completely free to access news platform, which will focus on developments in both the world of cryptocurrencies and the “old fashioned” financial markets. This probably sounds the least exciting, as there are plenty of news outlets out there and consumers are used to free content.

 

Here are the milestones set for each of the four elements, as well as fifth bonus one:

 

The capital milestones for the different features (click to zoom)

 

The EO coin

 

If the Eo.Trade ecosystem sounds interesting to you, and you would like to support the project, you may be surprised to find out that unlike a majority of other ICOs, this one also accepts fiat currency investments. This is done via credit card payments.

 

Of course, crypto is also accepted, with a surprising number of coins available – a total of 35 coins are accepted, while most fundraisers only use Ethereum. On the other hand, once created the token will most likely only be traded on the eo.trade exchange.

 

The key thing to note is the EO token will be a utility token, not a dividend paying one. If one chooses to pay his fees in the Eo ecosystem with it, they will be lower. Eo.Trade and Eo.Finance will have fees, while ExpertOption will provide higher payouts to users with the asset. This is a similar model to the one used by Binance and Bibox, whose tokens (BNB and BIX) are actively traded. Here are the rates for the Eo.Trade discounts:

 

The discount rates given by the EO token

 

The distribution seems fair, when compared to other ICOs, with 70% being given away to the public. We are currently in the public. Here is the progress of the sale at the time of writing:

 

The current state of the ICO

 

This means, eo.trade has not yet reached its soft cap, which in turn means not even the most basic functionality – the eo.finance wallet isn’t guaranteed yet. That being said, one could still get a pretty attractive bonus on his investment.

 

Conclusion

 

Eo.Trade is a project, which will attempt to create an entirely new ecosystem, which will connect cryptocurrencies and binary options. A system, which truly connects both worlds would probably have immense success. That being said, we have a few concerns with Eo.Trade – first of all ExpertOption isn’t exactly a credible broker and furthermore they only offer binary options. Had a similar ICO been proposed by a well established and tightly regulated company, like HYCM, IG or FxPro, which also offers spot trading, we would have been much more optimistic. Still, the world of crypto is full of worse ICOs and despite not having the best licensing, ExpertOption seems like a technically capable company.    

TAGS: eo.trade  eo trade  ICO  binary options  expertoption  eo.finance  eo finance  eo.news  eo news 
Forex
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, Web $5 Review Website
UK FCA MT4, AT Pro,
Advantage Web
£100 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

More Forex Market News

SiamOption behind a $22 million investment scam in Thailand

Aug 17 2018 14:25:28

  More than 1.4 million Thai people have lost around $22 million to an investment scam operated through the SiamOption.com website, reported The Phuket News. The Thai police suspects that the mastermind behind the fraud is 37-year old Russian expat Alexey Chikalov. Read more

UK’s FCA warns of unregulated forex broker Gallant Finance

Aug 15 2018 14:30:57

    UK’s Financial Conduct Authority (FCA) has warned the public in an official statement on Tuesday that forex broker Gallant Finance is not authorized to offer its services in the UK. Read more

The Central Bank of Ireland warns against 8888Markets

Aug 14 2018 13:28:01

  The Central Bank of Ireland (CBI), which also serves as a financial services supervisor, issued a warning against 8888Markets on Monday. Read more

UK's FCA warns of Good Crypto and Fair Oaks Crypto clone firms

Aug 09 2018 12:46:34

  UK's Financial Conduct Authority (FCA) has issued warnings against two clones of properly regulated firms: Good Crypto and Fair Oaks Crypto. Read more

Germany’s BaFin orders Stern Options, Stern Markets, and Weiss Finance to halt operations

Aug 08 2018 14:17:08

  The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has ordered several unauthorised companies to cease trading operations on Tuesday. Namely, these are BP1 LP (Stern options), Gum Ltd. Read more

UK's FCA updates its warning list with Prestige FM, FXFWay and Yes Trading

Aug 07 2018 13:54:48

  The UK Financial Conduct Authority (FCA) added a bunch of unregulated forex brokers to its warning list on Monday. These are Prestige Financial Markets, FXFWay and Yes Trading (Yes Option), which have been targeting UK clients without FCA’s authorization. Read more

UK’s FCA blacklists unregulated forex broker Glenmore Investments

Aug 06 2018 08:44:19

  The UK Financial Conduct Authority (FCA) added GoldTech Media Services OÜ to its ever-growing list of unregulated companies providing financial services in the country. Read more

CySEC slaps fine on InstaForex and ForexMart parent

Aug 03 2018 09:26:17

  The Cyprus Securities and Exchange Commission (‘CySEC’) has imposed a total fine of €130.000 to the owner of InstaForex and ForexMart forex brokers, Instant Trading EU Ltd, for non-compliance with the applicable laws. Read more

US CFTC sues the offshore based forex broker JAFX Ltd.

Aug 01 2018 13:33:55

The Commodity Futures Trading Commission (CFTC) in the US says it has filed a civic enforcement action against a offshore based broker JAFX Ltd., which is registered on the St. Vincent and the Grenadines.   CFTC accuses JAFX Ltd. Read more

UK’s FCA warns brokers not to use products similar to CFDs to get around ESMA’s restrictions

Aug 01 2018 11:15:43

  UK’s financial watchdog has come up with a statement following the entry into force of ESMA’s restrictions on CFD trading, which include a leverage cap of 1:30, among others. Read more

Forex
de | cn | ru