Plus500, one of the CFD providers listing Bitcoin for trading, has just switched from MtGox to BTC-e as its exchange for tracking Bitcoin prices.
This follows last week’s switch by eToro to Bitstamp, where we cited issues encountered by CFD providers in receiving timely price quotes and stable spreads, with Plus500 demonstrating such difficulties.
The Bitcoin listing now reads “Bitcoin BTC-e Daily” with its prices currently tracking the low $600’s as found on BTC-e. Contracts based on MtGox had been expiring at the end of the month, whereas the new setup has them expiring daily.
A sample position entered under the old MtGox setup is still preserved based on the MtGox contract, currently ranging in the mid to upper $200’s.
Interestingly, quotes shown publicly on their website (i.e. without having to be logged into an account) are still showing under the old MtGox setup.
DC Magnates has contacted Plus500 and received the following response:
Boosting Profits in Low FX VolatilityGo to article >>
Thank you for contacting us.
Please note that we have changed our Bitcoin provider to provide an up to date instrument that goes according to our trading standards.
-The MTGox positions can still be closed at the Open Positions tab- this instrument will expire at 28/2/2014.
-The new Bitcoin insturment is called ‘Bitcoin BTC-e Daily ‘ – kindly note that there is a daily expiry on instrument – all relevant information can be found in the details tab of the instrument.
If you require any further assistance, please don’t hesitate to contact us.
(Update: Plus500 is now showing both BTC-e and MtGox contract as available for new positions.)