Photo - 1FxSoL powered by Sieger Technologies
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1FxSoL powered by Sieger Technologies

Bringing FX Algo Trading To The Cloud Backed By Blockchain

Slovakia
Market: Internet and IT, Services, Financial services, Blockchain, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 06.11.2020
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Idea

Sieger-1FxSoL brings Forex Algo trading to the cloud. No need for traders to set up their infrastructure anymore. All transactions are recorded on our blockchain, and traders can control their robots remotely.

Current Status

We are in the pre-product ready phase and successfully tested, including published online demo in July 2020. Next up we are going to make this available to all traders as a service.

To test the 1FxSoL demo online, kindly please visit https://autobot.1fxsol.com (pin: 3636). Feel free to enter the details of your MT5 demo account. This interface is only a showcase of our technology, but it can deal with production-ready MT5 accounts.

Market

As Individual/ retail traders, 1FxSoL provides a user-friendly interface and easy to use even though you don’t have experience in the coding. If you are money managers, 1FxSoL allows you to develop an extensive client base and requires a superior trading technology environment to handle all their portfolio's. As an introducing broker with a high client network and who would like to develop their business will easier to build their forex trading community to attract more clients to trade and generating more revenue from their brokers. Startups or existing forex broker able to provide other trading facilities to clients with modern technology and boost client retention. Other advantages are the possibility to re-activate dormant client accounts by tempting them back with something new and, at the same time, keep them active that can significantly boost trading volumes.

Besides, With the 21% target market of 9.6M FX traders and 1466 brokers around the globe and the rising demands of Algo trading has been one of the opportunities of several unicorns, and we aren't entering a vacuous market. That is why We develop 1FxSoL (v.1.0), the SaaS Forex Algo trading platform built on the top of blockchain technology and directly integrated with the MT5 trading platform. Our simple aim is to make the environment of online forex trading fairer and more transparent and help Forex traders or brokers with innovative approaches delve into algorithmic trading without the need to set up the infrastructure or worry about scalability.

Problem or Opportunity

A majority of FX traders are using Algo trading, but they are creating their own ad-hoc setups which limit them. You need to invest heavily in infrastructure and invest in software development to perform any kind of Algo trading properly. Limited access to control and monitoring of the Algo trading at any time and anywhere also makes it challenging for traders and disputes between brokers and traders occur quite often.

Solution (product or service)

1FxSoL (v.1.0) brings you algorithmic trading into the SaaS platform with a user-friendly interface. A trader can create, manage, and monitor their Automated trading strategies at any-time and anywhere. The uniqueness of the 1FxSoL builds on the top of blockchain technology integrated with the MT5 trading platform to store, record, and validate every transaction made by traders, which prevent the dispute between traders and brokers.

Competitors

The Sieger-1FxSoL Algorithmic trading platform works on top of existing infrastructures and doesn't try to replace them, but we are components in the ecosystem. The uniqueness of the 1FxSoL Algorithmic trading platform is not only integrated with the MT5 trading platform but also underlined by our blockchain to record and store all the transactions securely and reducing a dispute between traders and brokers. We also enable our customers to use remote monitoring and management through mobile apps, which is unique. Our other services, such as the forex brokerage solution, are more mainstream. With these, we are also adding more standard services to our portfolio.

Advantages or differentiators

We are aiming to make the environment of online forex trading fairer and more transparent. Our incredible team has experience over 15 years in the FX trading industry. That is why we build Sieger with a goal is to revolutionize the online FX trading industry. By imparting the quality solutions to forex traders and forex brokers by providing 1FxSoL - a one-stop solution for the Forex Algorithmic trading platform built on top of blockchain technology and claiming that we are the first market for Algo forex trading platform that leveraging the blockchain technology.

Finance

Running and maintaining an Algorithmic trading platform is a highly complicated and costly affair. Automated trading needs constant monitoring and care. That is what we offer to our users. We are the caretakers of Algo trading doing the hard work so that you don't have to. We have four primary revenue based on monthly subscription plans that divided into two categories.
1. Trader Packages.
a. Solo Trader - €25 per user per month.
b. Team Trader - €50 per user per month.
2. Enterprise Packages.
a. Enterprise Standard - €1500 per month.
b. Customize - €2500 per month.

In year 2-3 operation of the company, we should be done the full version of 1FxSoL for our future products is the "All in One" SaaS platform to accommodate the unique needs of Forex traders and brokers in one place and affordable cost. Our expectation in Year 5 operation can reach at least 1 Million users.

Business model

We provide traders & brokers with an online SaaS interface through which they can load and manage FX Algo trading robots in our scalable infrastructure on top of our blockchain. This will be provided as a subscription service together with a mobile app for monitoring and controlling robots when needed. The benefit for the traders and brokers is that they do not need to invest in setting up their own ad-hoc infrastructure, worry about scalability and monitoring. Traders pay for their own subscriptions and brokers can fetch bulk subscriptions for a number of traders they service.

Money will be spent on

We are looking for €450,000 in funds to finish the development of 1FxSoL version 1.0 and move it from the prototype phase. The fund we use is to build up the tech infrastructure, release the first public version, hire new IT staff, sales and marketing, lease an office, etc. over the next 12 months.

Offer for investor

We offer a 30% equity to the investors with multiple exit opportunities that will result in a high ROI. We recognize that any investor in a start-up company, no matter how well on paper, ultimately needs an exit vehicle. Even though our preferred exit strategy is an acquisition by a major of a fintech company, But we always provide the best alternatives to protect investor's interest. We are open to discussing with the investor for several exit alternatives.

Team or Management

Risks

Sieger is a multicultural company with the founders from three continents and countries that blend into one vision and mission to reach our dream to become a multi-billionaire company. Is the biggest risk for us if we don't have one vision and mission anymore, and we always take care very seriously to keep our vision mission with mandatory culture are passionate, think positive, agile, consistency, and ambitious.

How are good the products, as long as you don't have a good marketing person, whatever you have been preparing and doing so far is pointless. To avoid 2nd biggest risk of the failure of the company, since the beginning, we always making any good relationships with several brokers and traders through our sweet spot of the client-base we have.

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Idea
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Finance
Invested in previous rounds, $
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Money will be spent on
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