Seemingly well positioned to take advantage of rising interest among Chinese in bitcoins, Hong Kong based forex broker, FXBTG has announced that it has begun to accept client deposits in bitcoins. Regulated under the auspices of the FMA, New Zealand’s regulatory body for granting foreign based financial licenses, FXBTG primarily focuses on the Chinese market. In terms of forex brokers, FXBTG adds to a small, but growing list of firms that offer bitcoin denominated deposits for clients. Similar to other smaller brokers, FXBTG provides customers forex trading services using the MetaTrader 4 platform. In addition, they offer a mobile and web-based trading platform from broker technology provider, Leverate.
In the broker’s public statement, FXBTG made reference to bitcoins among Chinese users as well as the increase in places accepting the digital currency as a payment product, as a company spokesperson said “As China has become the largest state of trading bitcoin, including China Baidu, a public Internet companies to accept bitcoin payments, bitcoin will be more accepted over the world.” The spokesperson added that “It is reasonable that FXBTG Financial Group test the water in bitcoin payment.”
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In terms of providing trading in bitcoins as a CFD, the broker didn’t provide any details of an upcoming launch of the product. In its public statement, the broker mentioned that it is the first broker to accept bitcoins. This though is in fact not true as Forex-Metal and Bit4x announced similar deposit features well before FXBTG.