FIBO Group Follows Industry’s Lead, Launches Cryptocurrency CFDs Trading

Fibo Group Ltd. today has become the latest forex broker to add a cryptocurrency derivative product to its Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, following the lead of several brokers that have recently added altcoins CFDs to their offering.

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The step confirms that there is significant demand amongst traders for such derivative products, with the launch coming shortly after Libertex added Bitcoin and Litecoin CFDs to the trading platform dedicated to its European traders.

The list of brokers that have launched cryptocurrency trading pairs in recent months also includes Ayondo, Plus500, Avatrade, FXOpen, XTB, JFD Brokers, Instaforex, and many others. As such, it is likely that more retail platforms will follow suit to avoid falling behind their competitors.

Fibo’s new cryptocurrency offering gives clients trading exposure to seven of the biggest digital currencies; BTC (Bitcoin), ETH (Ethereum), LTC (Litecoin), ETC (Ethereum Classic), ZEC (Zcash), DASH (Dash) and XMR (Monero).

Fibo Group also offers demo accounts for clients keen to try their hand at trading 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 before engaging in real dealings. The company has likely turned to CFDs as a way of offering cryptocurrency trading due to the difficulty in hedging positions in the real markets which always makes this derivative type a prime alternative to many underlying assets.

FIBO Group, Ltd. is regulated by the Financial Services Commission (FSC) in the British Virgin Islands (BVI). The group includes FIBO Group Holdings Limited (Cyprus) and FIBO Australia Pty Ltd (Australia), operating under the brand, and offering mainly MT4/MT5.