GICTrade bring Peer to Peer (P2P) experience in forex trading industry
Active Trader: GICTrade offers almost zero-cost-experience commission free, swap free and low spread.
Market Maker: GICTrade offers new opportunity for user to become liquidity provider in our platform
Current Status
Roadmap : - Product launched in 2019 - Roadshows to major cities in Indonesia - Established partnerships with third parties: Ecommerce, Payment Gateway etc - Reached 25.000 users in Q1 2021 - Surpassed 140.000 Lot in transaction volume in Q4 2020 - Covered By most major media in indonesia - Industry Leaders on board acting as Advisors
Market
Foreign exchange trading witnessed explosive growth starting in the mid to late 90s with the spreading of internet usage and electronic trading platform. Today the market is the largest it has ever been, with an average daily volume of more than $6.6 trillion. GIC, at the moment, are still heavily focused on Indonesia market targeting mainly forex traders ranging from 21 years to 56 years old. Having the CEO of Jakarta Futures Exchange on board as our advisor, we are able to gather information on the total trading volume in Indonesia which is approximately 560.000 Lot per month amounting to $560 Million monthly. We have managed to get more than 25.000 users signing up and trading in our platform. Also by offering a new features such as an access to Marketmaker function, we are also able to tap into a more general investors and retailers who could join as passive traders or act as liquidity provider.
Problem or Opportunity
Forex Trading is the largest financial market in the world amounting to more than $6.6 trillion dollars daily turnover in 2019, but despite of this, Forex trading image is not good and there are wide assumptions that Brokers are dishonest and Forex Trading is considered as “scam”. After going through the Forex Trading ecosystem, we identified several big hinderences in Forex Trading
CONFLICT OF INTEREST. The Biggest Problem in the Forex Trading Industry! Forex trading operates like casino with a lot of conflict of interest 1. The more you trade, the more the brokers are making money 2. Traders and Market Makers are trading against each other meaning when Traders profit, Market Makers lose money and vice versa!
FEES. High trading fees are the second biggest problem that traders face. The higher the trading fees, the more difficult traders will be able to break even and profit
LACK OF TRANSPARENCY. With all the trading activities being recorded on centralized server, there is lack of transparency, hence trust.
No ACCESS TO MARKETMAKER FUNCTION. Market Maker function are only accessible and reserved to institution with Large Fund. There has never been an option for retailers to participate as marketmaker.
Solution (product or service)
The Game Changer GIC believes there is a better trading arena for both Traders and Market Makers and we set out to build just that - a blockchain based Peer to Peer Forex and Commodity Trading Platform with no conflict of interest, minimum fees, better transparency and access to Market Maker function
The Benefit With the breakthrough Peer to Peer technology, All GIC customers are able to choose to become traders or/and market makers seamlessly, therefore we are also able to cut intermediaries and reduce cost, that will benefit investor in the platform - 0 Commission fees. - Free Swap with no minimum deposit. - Lowest spread - Access to Market Maker function
Competitors
GIC is the first peer to peer blockchain based trading platform in the market with no direct competitors because of the differences in the product that we offer to traders and market makers. However, the challenge that we are facing at the moment is to get more exposure to the current traders who trade in conventional brokerage platform ( Normal brokerage companies )
Advantages or differentiators
The Advantages: Trader : - NO COMMISSION - NO SWAP - LOW SPREAD - TRACEABLE ON BLOCKCHAIN - TRANSPARENT
Also the big differentiator is : Market Maker - ACCESS TO MM FUNCTION ( this used to be a big institution with large fund ) - NO OPERATIONAL COSTS - NO LEGAL COSTS
GIC Business Model - GICTrade ( Traders and MarketMaker ) - GIC Social Trade ( Cross platform Social trade ) - GIC Academy - GIC Exchange - GIC Partnership
Money will be spent on
- 15% marketing and promotion - 15% system development - 5% CAPEX - 10% OPEX - 30% Legal Expansion deposit - 25% GIC MM Liquidity
Offer for investor
3 million investment in exchange of 20% company stocks ownership