AvaTrade Moves CFD Feeds to BTC-e, Also Launches Litecoin Trading

AvaTrade became the latest broker to switch pricing of its bitcoin CFD from MtGox to that of another exchange.  Last week eToro began to price its bitcoin ‘shares’ product using pricing from Bitstamp, while Plus500 moved its feed to BTC-e earlier this week.  Announced to customers yesterday, as of last night AvaTrade has begun to price to both its bitcoin daily and weekly products using feeds from BTC-e.  The broker stated that the switch “Due to the ongoing withdrawal issue with the MtGox exchange and the extreme volatility this has caused to prices” (Kudos to HarounKola.com for posting a snapshot of the entire statement sent to customers on the AvaTrade platform).  Following the move by AvaTrade, to our knowledge, the remaining online forex brokers using MtGox to price their CFD are firms using pricing feeds from financial technology provider Leverate. 

In addition, the broker has also recently begun to offer trading in litecoins which uses pricing from BTC-e as well.  According to an AvaTrade representative, trading of the litecoin CFD has been live for several weeks, being launched on January 22^nd (apologies for only catching this now when we re-viewed AvaTrade’s bitcoin conditions and spotted litecoin there as well). Like the bitcoin CFD, litecoins are being made available via products that use both a weekly and monthly expiration.  The weekly litecoin product allows for 10:1 leverage, as well as the ability for traders to both go long or short.  The monthly CFD, called Litecoin MINI, doesn’t allow for leveraged trades.

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