Working together, bitcoin trading exchange BTC-e and online forex broker FXOpen have collaborated to provide customers of each firm cryptocurrency trading on the MetaTrader 4 (MT4) platform. Having an installed base of millions of users among major online brokers such as Alpari, FXCM, and Forex.com, the MT4 offering from both FXOpen and BTC-e provides for many a well-known interface for trading bitcoins and other crytocurrencies such as namecoin and litecoin.
Expanding their offering, FXOpen announced in the beginning of May that it was adding the ability for account holders to trade cryptocurrencies with bitcoin and litecoin denominated accounts in addition to existing selection of fiat based accounts. Now it is BTC-e’s turn, as the exchange has announced that it is adding fiat based MT4 denominated accounts to what initially had only been offered in cryptocurrency denominations. Being added are British pound, euro, Russian ruble, and Chinese yuan accounts. The accounts add to existing bitcoin, litecoin, namecoin and US dollar denominations.
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According to BTC-e the believe that a benefit of the multiple denomination of accounts is the ability to reduce costs, as for example a depositor in rubles and euros no longer will need to convert to accepted base currency before trading. In addition, they stated that users can open multiple accounts in each currency type.