If you are in in the crypto market, you might have noticed a few advertisements popping up around the internet for brokers and liquidity providers. Since the bull run of 2017, these companies have been launched with record speed. If you want to learn even more about this trend, we have an article on it that you can check out here: brokers in the crypto market. If not, stick around for our SFOX review!
For those of you who are skeptical like me, I do not advocate for these companies nor am I sponsored. Regardless, you may be surprised to know what conclusion I came to on SFOX.
In addition, I will try to add my 2 cents here and there on some things the platform could improve on and things that SFOX surprises me on. With that being said, let’s dive into it.
In this article, I will discuss my experience with a company just like the ones in the ads and let you know firsthand what I learned. Specifically, we will be reviewing SFOX. Here are some things we will cover:
- My discussion with a business development director
- What is SFOX
- What you can do with SFOX
- How you can get started (if you feel inclined to)
While investigating the notorious ads that portray low fees, liquidity and security, this company in particular caught my eye. SFOX advertises themselves as a user friendly, verifiably secure, fully compliant and liquidity focused dealer.
SFOX trading platform REVIEW
San Francisco Open Exchange
First, let’s start off on how I found SFOX. For those interested, I actually found this company from a random google search not just through ads. I was googling “san francisco open exchange” and this company came up at the top of the page. Try it if you do not believe me.
After exiting the page by accident, I tried multiple other searches related to the companies’ niche, and it was very difficult to find them without using their name, SFOX. Personally, I would try to put some more effort in SEO, but that comes second to investing in your platform which we will get to later.
Initial Research on SFOX
Whenever I find a new company I am interested in, I immediately search for reviews, related content and scour their website for all the information. Most of the time, you can find everything you need to know about a company in a matter of 15 minutes if you are diligent and know where to look.
Oddly, SFOX took me a little more time to fully grasp their utility and use-cases in the crypto market. Therefore, I was not sold on the whole, broker, dealer, open exchange aspect yet.
Therefore, I wanted to dig deeper.
After doing some further due diligence, I realized you can personally setup a meeting on their website with the business development director, Daniel Kim. Without thinking twice, I did just that and within the same day, I was on the phone with him for 30 minutes uninterrupted.
Let’s pause for a moment, because this was impressive to say the least. Even more, Daniel emailed me to confirm the meeting, prompted me to what topics I would like to discuss, and followed up with several emails before we even spoke. I am fairly sure I will not get anyone but a robot from most companies, so this was an immediate breathe of fresh air. I almost did not know what to do.
Was he scamming me? That was my first thought.
Obviously, when someone meeting first time with someone, always always always search for their social profiles or proof of identity. Additionally, it is good business to know a little bit about the person you are meeting with ahead of time.
Business Development Lead Daniel Kim
With a simple linkedin search, I had Daniel’s account and everything I needed to know about him. Quite an impressive work history as Daniel has worked at Gemini as director of international sales and at itBit (crypto trading exchange made by Paxos) as director of US operations and as director of institutional client group.
Easy to say, this guy has been around the metaphorical crypto exchange block.
At this point, there was no need to continue digging about for articles or reviews. I wrote down my questions and prepared for my discussion with Daniel.
Now, let’s go question by question and relay the answers. At the end we can review some of the things we talked about. I will list my questions and Daniel’s answers (paraphrased) right below.
What is SFOX
SFOX is an interactive crypto platform that acts as a prime dealer used to merge liquidity, manage portfolios and ultimately save time for our clients.
What is SFOX Target Market
Investors, Institutions, businesses, sophisticated and savvy traders, and really anyone that wants to transact in cryptocurrency. We are extremely welcoming to all sizes of users. Our goal is to make the market easily accessible to everyone through proper education and user friendly features.
What Are SFOX’s Features
SFOX has multiple outstanding features, but it excels by providing 20 liquidity partners, merged order books, and enterprise level security. Additionally, we make customer support our number one focus. The customer is who we are here to serve.
What Is SFOX Fees
The fees vary based on the order type of course. Generally, our fees are the lowest on the market with some being as low as .25% of any order. Besides orders, account setup and activation is free, deposits are free and there is no setup fee for any initial structuring. We pride ourselves on not having hidden costs and being completely transparent to the client.
Does SFOX Use Third Party Software
Simply, no. We used to until we realized the liability of using a third party software. Therefore, we hired the best engineers we could to fully build out our back end, proprietary software, and gateways. Now, the investor, broker, trader or institution can all rest assured that we have their funds, accounts and data secured and protected. Again, we want to focus on the client. Everything we do, is to provide the best services available to them. None of our clients have to worry about a random third party resource housing or transmitting their data unsecured.
What Is Your Largest Expense
For every dealer, our largest expense is compliance, regulation and security. Compliance being the main expense, we spend plenty of funds on complying with every rule and regulation we know about or hear about. Clients do not have to ever worry about our platform being targeted as suspicious or unregulated.
Why Use SFOX Instead Of An Exchange
This is a common question, the reason is mainly due to time, lower costs, liquidity, and accessibility. In order for you as a trader to trade across 20 liquidity providers, you are going to need 20 different accounts. On top of this, each exchange will have different fund transfer fees for withdrawals and deposits, different transaction fees and processes. The amount of time you lose when interacting across so many different platforms, sending funds, and liquidating potions will cost you a lot in hidden costs.
Every trader knows that time is money. Additionally, with the multiple different fees occurring on every platform, tracking your profits becomes quite challenging. SFOX aggregates all of these platforms into a single platform that’s easy to use, competitively priced and provides you with the tools to trade crypto efficiently.
What is SFOX’s Proprietary Software
Unfortunately, I cannot share this information with you. Although, I do want to note that it is very unique and ahead of most competitors. It overs solutions to problems that most of the market is still struggling with.
Anything Else You Would Like to Say About SFOX
The reason we decided to do everything in house, is because of how seriously we take security. We did not have to spend all of that money on funding for engineers, but we decided it was the right thing to do for the long-term success of our platform. We are confident out clients will thank us for it later when everything runs just as intended.
In conclusion, after research, reviews and a personal phone call from Daniel, my perspective changed in our SFOX review. I never realized the complications of trading on the crypto market. SFOX makes sense to use. They have a clear policy of clients first and they made it shine by Daniel being so accommodating. I scheduled a 15-minute call with him, and he talked for over half an hour on the same day. That is some quality customer service.
Their platform is clean, user-friendly, and quite trendy. It is a crypto minimalist dream, combined with a enterprise level use-cases. Personally, I want to thank Daniel for his time and for representing his company so well. If you have any more questions or concerns, please go over to their website, SFOX, and schedule a meeting with him yourself! After speaking with Daniel, follow this link hereto get started trading today on SFOX!
Additionally, for more information on SFOX: