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Sfox aka San Francisco Open Exchange is a Crypto brokerage and dealer claiming to give traders an edge.
Unifying global liquidity and offering the best execution price is their main selling point.
Sfox.com targets traders, hedge funds, advisors and financial institutions.
They also claim that the top 1% hedge funds use Sfox to outperform the market.
But there is no verifiable statistics to confirm this bold statement. In fact, there are many more statements like these on the San Francisco Open Exchange website.
We only believe such marketing declarations when there’s proof to validate them.
In the meantime, traders can get started right away or schedule a demo directly on the Sfox website.
However, we advise that before you can sign up, you should read this review to make an informed decision.
You can also check out our recommendations for the best trading and investing products to use if you want to make money.
Sfox.com (San Francisco Open Exchange) review
The website of this Crypto exchange is professional but weird at the same time.
Their marketing materials suggests that Sfox is offering a serious product for Crypto traders and enthusiasts.
However, there is something else that makes users ask a lot of questions before signing up, even for a demo.
We will be discussing this topic later in this review. For now, I’ll list down what the site offers.
They’re currently offering users 4 platforms to facilitate trading of Cryptocurrencies.
These include Sfox Pro, Sfox Flash, Sfox SMA and Sfox Dark Pool.
The pro version is a product designed to facilitate buying, selling and managing Crypto assets securely.
It is designed for trading professionals and institutions.
San Francisco Open Exchange is also offering commission-free trading of Crypto assets using their Flash platform.
The “smart order routing technology” is allegedly going to give traders the best prices for buying and selling Crypto.
The Sfox SMA product is designed for Crypto asset managers.
According to the marketing materials on this website, San Francisco Open Exchange is suitable for fund managers and institutions that manage the funds of other investors.
Last but not least, Sfox is also advertising trading using dark pool privacy with global liquidity.
According to their promotion material, this product only has upsides and no downsides.
Privacy is guaranteed as well as best execution and zero slippage.
In terms of privacy, Sfox is not telling us how they’re going to achieve this because when signing up, they require KYC documents.
Other features that Sfox is promising
They’re promising a lot of benefits for using their platform over other Crypto exchanges.
However, whether these benefits are real or not is quite difficult to establish at this time.
It requires a great deal of convincing for Crypto traders to abandon the mainstream exchanges like LocalBitcoins, CoinBase, Remitano, Poloniex and others.
Some of the benefits which they tout on this website include the following:
1.Transparency and up-front pricing
2. Instant execution
3.Ability to deposit and withdraw both fiat and Crypto
4.Send and Receive Crypto
5.Security of Crypto assets
The website also provides multiple order types for traders, depending on volume and their trading style.
For example, they claim they can hide your order, optimized for price or help you place a big order without moving the market.
They also claim that they can optimize your orders for best prices using a special routing algorithm.
If you trade large volume and you need privacy, Sfox will give you a “solution” too.
Obviously these advantages are not available in mainstream Crypto exchanges.
However, if you mind about safety of your assets and other factors, there are things to consider.
We need to look at the reputation of Sfox exchange, the people who run it and customer feedback.
Who is SFox (San Francisco Open Exchange)?
This site has a long history to start with.
It has two co-founders named George Melika and Akbar Thobhani.
These guys appeared to have purchased the domain of this site in 2015.
The aim was to help traders buy and sell Bitcoin like professionals.
They were “guaranteeing” access to multiple exchanges, intelligent trading and best pricing.
The domain Sfox.com was actually registered in 1998.
The owner of the site back then was selling Christmas decoration items, and the site was known as Silver Fox Studios.
It appears that George Melika and Akbar Thobhani bought this domain in 2015 to gain some business advantage.
Vendors who do this sort of thing want to create an impression that they’ve been around for a very long time.
When the duration of existence is not a concern, vendors will always create a new domain and start a website from scratch.
We know nothing about George Melika. However, according to this article, Mr. Thobhani is an ex employee of Airbnb.
I also wonder why Sfox is not providing details of their co-founders and employees on their website.
This information can only be arrived at by Googling and looking for at multiple sources of information.
A legitimate and professional website will provide a proper “about us” page.
Because Sfox appears to be a private company, we expect information on a personal level.
We did not find phone numbers or live chat on this website. The only support they provide is through email and Facebook.
Where is customer feedback?
This site started offering buying and selling of Crypto as early as in 2015.
This is a very long duration of doing business on the internet, and I was expecting some real customer feedback.
Unfortunately, my searches yield no fruits. The only feedback I found was from people who have never trued using Sfox services.
Does this mean that the site is only getting heavy traffic but no customers?
According to their promotion material, San Francisco Open Exchange has over 175,000 reistered users.
These users have allegedly executed 42 million trades.
If this is the case, we expect some of these users to talk about their experience.
Why they’re quiet is beyond explanation.
Furthermore, the site is ranking 200,000 on Alexa, meaning they get about 800 visits per day.
Does it mean these users don’t convert?
In my opinion, Sfox has many visitors but somehow these users have opted to stick with the popular Crypto exchanges.
Despite the mouth-watering promises, there is something that makes them opt for other exchanges.
Maybe it’s the discrete nature of the founders or they just don’t trust this site.
Sfox appears to be a good site but it fails to win the trust of Crypto traders despite the many benefits which they peddle.
My take would be to stick with whatever exchange you’re currently using because if they’ve failed to gain the trust of traders since 2015, it means something is wrong with them.
Perhaps they’re too shady. It would also be something to do with expensive fees or lack of a proper license.
Thanks for reading. I would like to see your feedback in the comment section.