FXOpen Launches Bitcoin, Litecoin, Namecoin and Peercoin Trading on MT4

Reported about their intentions earlier this month, online FX broker, FXOpen has officially launched crypto currency trading for retail clients. Under the new offering, customers will be able to trade bitcoin, litecoin, namecoin, and peercoin. The launch occurs after the broker added the ability for customers to fund accounts using the bitcoins, litecoin, and namecoins earlier this month. The company also recently launched a liquidity provider (LP) offering which offered digital currency trading for brokers. As forex brokers who offer bitcoin trading to their customers in the form of synthetic contracts that mimic the price of bitcoins, the LP unit provides firms the ability to access Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term to hedge their risk.

In terms of the current retail offering, FXOpen’s is different than existing digital currency products from forex and CFD brokers, as they will be providing trading in actual Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. Trading will be provided via their MetaTrader 4 (MT4) platform with available leverage up to 3:1. According to FXOpen, trades will be charged a 0.25% commission.

Speaking about the product, Denis Peganov, Director at FXOpen has explained to DC Magnates that they believe their product to be superior to existing digital currency offerings from other online brokers, as customers will be trading actual crypto currencies as opposed to a CFD, which my increase counterparty risks.