The team behind O-SYSTEMS, the binary options, forex and CFD online brokerage solution provider, will soon announce the launch of its latest product, Cryptency, a cryptocurrency platform provider. This will be in cooperation with Vista Brokers, a CySEC-regulated firm, Finance Magnates has confirmed.
Cryptency will be a complete solution for anyone looking to establish a new online brokerage offering trading cryptocurrencies on 4x margin to retail clients. The system has been in development for the past six months, the team behind Cryptency told Finance Magnates. It will also offer dedicated CRM and risk management systems and built-in KYC compliance.
The developers explain that Cryptency will not be based on binary options, futures or CFDs, and that users can even buy physical deliverable cryptocurrency via a feature called Exchanger, promising low spreads and fast execution.
For the traders, the system will serve as a single interface for trading in 860 cryptocurrencies via bridge connectivity to all major exchanges including Poloniex, Kraken and Bitfinex. It will feature advanced charting capabilities, split screen support, indicators, widgets and dynamic content such as social news stream, news events and asset profiles. An app for mobile devices is being prepared for launch too.
Deposits can be made with fiat (USD, EUR…) or from any cryptocurrency wallet. Trading will be done on pairs of crypto/crypto only.
The developers say that the idea was to create a system offering lower risk for traders, where they know who you work with, acting as if it is regulated. Support for ICOs and pre-ICOs is also possible thanks to the connection to the major exchanges.
The amazing recent rallies in cryptocurrency prices, especially Ethereum and Bitcoin, have created a lot of buzz in the mainstream financial media this year. This in turn led to a lot of demand from clients to have access to this new instrument and the online trading industry seems set to fill this need.
Considering the recent regulatory pressure on binary options hurting the bottom lines of the providers, this trend came just in time to help developers expand to greener pastures.
Yesterday we reported that Tel Aviv-based Panda Trading Systems, known for its binary options, FX and CFD brokerage solutions, has now started offering CFD trading on seven cryptocurrencies on all of its platforms, as well as a complete cryptocurrency brokerage solution.
Additionally, the international brand of Alpari, the biggest online brokerage in Russia, announced to its Russian speaking clients yesterday that it has added two new Bitcoin trading instruments: CFDs on the BTC/USD and BTC/EUR pairs. Other online FX brokers already offering cryptocurrency trading include eToro, Plus500, AvaTrade, FXOpen, XTB, Ayondo, JFD Brokers, Markets.com, InstaForex and IG, among many others.