Warrior Trading video: How to Trade With a Foreign Exchange on YouTube
When a customer orders an item from Warrior Trading, the online video platform they are using to trade on their behalf will automatically forward the transaction to the company’s exchange.
The process is similar to a standard credit card purchase: the customer sends the amount to Warrior Trading and they send back the amount in cash.
Warrior Trading charges a 0.25% fee for each trade it executes, but if the customer has an account with a large international trading company (or if the transaction was initiated by an existing customer), the company can pay an additional fee of 0.5% to offset the fee they charge to Warrior trading.
This fee is applied to both the buyer and the seller.
The buyer pays the company a fee of 5%, which is charged on the purchase price of the item.
The seller pays the fee to Warrior for each dollar of the trade, and the company gets a 10% commission on the sale.
Because Warrior trading is a new product, the company has not yet released a product, and it is unknown whether it will be ready to accept credit card payments in the future.
In addition to its ability to process credit card transactions, the product also offers other features like live chat support and a dedicated customer support hotline.
Warrior trading is the result of years of research by a team of software engineers at Boston Dynamics, a Massachusetts-based defense contractor.
The team came up with the idea while studying the potential impact of the Pentagon’s “frictionless payment system,” known as COVID-19, which was first introduced to the U.S. military in 2016.
“The frictionless payment is a payment system that is so easy to set up and manage, so fast, and so convenient that it was like, ‘Okay, we can do this in less than two years,’ and we did,” said Matt Henson, co-founder and chief technology officer of Warrior Trading.
“So we’re kind of building on that.”