1. Introduction

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CloakFX is a foreign exchange (ForEx) platform that uses the Cloak privacy-centric cryptocurrency as the main medium of exchange. It is a user-friendly platform that favors usability and allows users to follow other successful traders by imitating their orders.

CloakFX is a trading platform that allows cryptocurrency users to join real-world markets directly with cryptocurrencies. With CloakFX, you can open long and short positions with up to 200x leverage in global world markets using CloakCoin and Bitcoin wherever you are in the world. You can also share your ideas and trades with other traders, as well as copy the trades of successful and popular traders and generate high profits in a short time with low capital. CloakFX does not convert for fiat currencies such as US Dollars or EURO.

Users are able to place orders and open positions on a number of forex pairs. The website works with the 1Forge provider for forex pair pricing.  Deposits and withdrawals are made with the CloakCoin cryptocurrency. The platform uses USDC (a Stablecoin that pegs to the USD) values for pricing and outcomes. During deposits and withdrawals, CloakCoin amounts are converted to USDC.