Questions about trading with an AI agent
Everything people ask before connecting an assistant to a real account: what it can trade, what it can never do, what it costs, and how you stop it. Fensory AG is based in Switzerland. The service is not available to US persons.
What Fensory is
The short version, and what the words mean.
- What is Fensory?
- Fensory is a non-custodial trading account that any AI agent can reach over MCP. You connect an assistant you already use, set which markets it may trade and the most it may spend on one order, and it trades in plain language. It can trade. It cannot withdraw, transfer or bridge funds.
- Is Fensory an AI?
- No. Fensory is not an AI agent and does not make trading decisions. It is the market access layer an agent connects to: you bring the assistant, and Fensory provides the account, the markets and the limits it operates inside.
- Who is behind Fensory?
- Fensory AG, a Swiss company registered in Oberwil-Lieli, canton Aargau, in the Swiss commercial register under UID CHE-166.178.528. Alex von Mühlenen is Founder & CEO, and Lovish Badlani is Co-founder & CTO. About Fensory
- What can an AI agent trade on Fensory?
- Through the current MCP connection, an AI agent can trade 300+ Hyperliquid crypto spot pairs and 300+ perpetual futures across crypto, US stock futures, commodities, equity indices, currencies and rates. The same Fensory account also gives the user app access to 100+ tokenized US stocks and ETFs, tokenized treasuries and 450+ yield products. Custody varies by instrument. Every market
- What is the difference between a tokenized asset and a perp on the same name?
- A tokenized asset is a token an issuer mints against something it holds, and it settles to a wallet you control. A perpetual future tracks the same price with no expiry, conveys no share or physical asset, pays no dividend, and can be leveraged, which means a position can be liquidated. Tesla, gold and the S&P 500 are each reachable both ways on Fensory, so the instrument matters more than the ticker.
- Do I need a separate account for each asset class?
- No. The same Fensory account gives you access to every listed class. Hyperliquid spot and perpetual futures use the MCP connection, while tokenized assets and yield products are selected in the app. Where the position sits still depends on the instrument.
Safety and control
What the agent can do, what it cannot, and how you stop it.
- Is Fensory safe?
- Fensory is built so an AI agent can trade but cannot move funds out. It holds a scoped key that can sign trades only. Fensory enforces four controls on the account: a kill-switch, an access expiry, a market allow-list and a per-order cap. Trading still carries risk, and perpetual futures can lose more than the margin committed. The security model
- Can the agent withdraw my funds?
- No. Fensory holds a scoped key that can sign trades only. It cannot withdraw, transfer or bridge funds. Deposits and withdrawals are transactions you sign yourself in the Fensory app.
- How do I stop an agent?
- Switch agentic trading off in the app. The kill-switch is enforced on the account rather than in the conversation, so every trading tool starts failing immediately, whatever the assistant has been told.
- What stops it spending more than I intended?
- A hard cap on the size of any single order, which you set in the app. It is checked on the account before the order reaches a venue, so a $100 cap means no order is ever $101. The cap is per order, not a limit on total losses.
- What happens if my assistant account is compromised?
- The account controls still apply, whatever the assistant is told. Whoever controls it could place orders in markets you approved and under your cap, and those orders can lose money. It cannot withdraw, transfer or bridge funds. Switch agentic trading off in the app to stop it.
- Does Fensory hold my assets?
- Fensory does not custody customer funds. Tokenized equities and treasuries can settle on-chain to a wallet you control. Hyperliquid spot balances and perpetual-futures margin remain at the venue.
Cost and eligibility
What you pay and who can open an account.
- What does Fensory charge?
- Connecting is free: no account fee and no subscription. A Fensory builder fee between 0.01% and 0.05% applies to perpetual futures and Hyperliquid spot. There is no Fensory fee on tokenized equities, yields or bridging. Exchange maker and taker fees, network fees, issuer or venue spreads and the card on-ramp fee apply on top and are shown before you pay. Full pricing
- Who can use Fensory?
- Fensory AG is based in Switzerland. The service is not available to US persons, and eligibility is enforced at the access layer.
- Can I use Fensory without enabling trading?
- Yes. Market data and account reads work with just a Fensory account. Trading tools activate only once you enable agentic trading and set your limits in the app.
Connecting an assistant
Which clients work, and what setup involves.
- Which assistants can connect?
- Claude, ChatGPT, Hermes, OpenClaw, Codex and Cursor, or any other MCP client. Setup is the same three steps in each: open an account, paste the endpoint, set your ceiling. Connect an assistant
- Do I need to write code?
- No. In most clients it is pasting one URL into a connector setting and signing in once. Building a custom agent against the MCP server is possible, but it is not the normal path. The MCP server
- How long does the agent keep access?
- The agent trading key lasts 180 days, then you re-approve it in the app.
Markets and instruments
Hours, settlement, and how each instrument works.
- Can I trade outside US market hours?
- Crypto and perpetual futures trade continuously. Tokenized equities depend on the issuer: xStocks trades around the clock on supported venues, while Ondo Global Markets runs scheduled sessions from Sunday evening to Friday evening ET plus a separate off-hours session, enabled per asset, that covers weekends and US market holidays. Hours are set by the issuer, not by Fensory.
- How does settlement work?
- Tokenized equities and treasuries can settle on-chain to a wallet you control. Hyperliquid spot balances remain in the venue account until withdrawn. Perpetual-futures positions also remain at the venue against posted margin. Fensory does not custody those assets.
- Does it matter which issuer a tokenized stock comes from?
- Yes. Ondo Global Markets and xStocks use different symbol conventions and set their own terms for corporate actions and redemption. Fensory carries tokens from both; the issuer documentation governs the asset, not Fensory.
- What is a tokenized stock?
- A token issued against a real share held by a regulated issuer, tracking that share price on-chain. It gives you the price exposure without a US brokerage account, and it settles to a wallet you control rather than to a broker. More on this market
- Do tokenized stocks pay dividends?
- Treatment depends on the issuer. Ondo Stocks reinvests dividends into the underlying security, while xStocks reflects the economic benefit through rebasing. Both apply their own terms, taxes and timing. Stock perps do not pass a dividend through because there is no share behind them. More on this market
- Do I own the underlying share?
- No, under either instrument. A tokenized stock is a token issued against shares the issuer holds, and the legal structure is set by the issuer: tokenizing a security does not change its legal status. A stock perp is a derivative and carries no claim on a share at all. More on this market
- What is a perpetual future?
- A derivative that tracks an asset price with no expiry date. A funding payment passes between long and short holders to keep the contract near the spot price, which is why funding is the number traders watch. More on this market
- How does funding work on Fensory?
- Funding is charged hourly on open positions and is exchanged between traders, not collected by Fensory. Your agent can read funding history and predicted funding across venues before it decides. More on this market
- How much leverage can I use?
- Leverage is set per asset, with cross or isolated margin. The 50 times ceiling applies only to a handful of index and currency contracts. Most markets are well below it: major crypto tops out at 40 times, tokenized stock perps are commonly 10 to 20. Leveraged positions carry substantially higher risk and can lose more than the margin committed. More on this market
- What happens when a position is liquidated?
- If the margin backing a position falls below what the venue requires, the venue closes the position rather than waiting for it to recover. You keep whatever margin is left, which can be nothing, and a liquidation can cost more than the margin committed. This is why the per-order ceiling and the market allow-list are set on the account rather than agreed in a conversation with an assistant. More on this market
- What is spot trading in crypto?
- Spot trading exchanges one asset for another at the current order-book price. The resulting token appears in the venue spot balance. It is different from a perpetual future, which is a derivative position backed by margin. More on this market
- Is UBTC the same thing as native bitcoin?
- No. Hyperliquid maps BTC/USDC to UBTC/USDC on HyperCore. Unit moves the corresponding BTC amount between the Bitcoin network and the Hyperliquid spot balance. UBTC is the spot token on Hyperliquid, not bitcoin held directly on Bitcoin and not the BTC perpetual future. More on this market
- What is a tokenized treasury?
- A token backed by short-term US government debt held by an issuer. It carries the yield of the underlying bills and transfers on-chain, so it can be held in the same wallet as your other positions. More on this market
- Is the yield guaranteed?
- No. Yield comes from the underlying government debt and moves with it. Fensory does not set, guarantee or promise a rate, and all investing carries risk. More on this market
- How do I get back to cash?
- Two routes, and they are not the same. The token can be sold on-chain at any hour like any other position on the account. Redeeming it with the issuer for the underlying follows the issuer schedule and terms, which are narrower. Check those terms before you assume same-day access. More on this market
- What is a crypto yield product?
- A product that pays a variable return because an asset is lent, staked, invested in short-term government debt or allocated through a vault strategy. The source and risk differ by product, so the headline APY is not enough to compare them. More on this market
- Is the displayed APY guaranteed?
- No. APY changes with market utilization, validator rewards, incentives, fees and strategy performance. It is a current estimate or historical measure, not a promised return. More on this market
- What is a tokenized commodity?
- On Fensory, the tokenized route is generally a tokenized security linked to a commodity ETF, such as a gold or silver ETF. It is not a bar of metal and its rights are set by the issuer documentation. More on this market
- Can an AI agent trade gold through Fensory?
- The MCP commodity path reaches the gold perpetual future. Tokenized gold products are available through the app. State which instrument you mean because the settlement, fees and risks are different. More on this market