While we have seen some retail forex brokers cancel their Bitcoin denominated CFDs recently, FXOpen is showing again its commitment to cryprocurrency traders by launching Ethereum-based pairs. The firm announced that it is now offering ETH/USD and ETH/BTC for both its demo and live crypto users.
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Just last week BTC-e successfully completed the addition of two new trading pairs based on Ethereum and Dash, so maybe we will soon see FXOpen add Dash-based pairs for trading also to avoid been left behind by interested traders. At the time we predicted that this move might help Ethereum and Dash become more popular with active retail MT4 traders, especially in Russia and China, and it seems that FXOpen agrees with the.sentiment, at least with regard to Ethereum for now.
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Ethereum is the hottest cryptocurrency since Bitcoin, with a total market cap of over $750 million. Dash, the cryptocurrency formerly known as DarkCoin, marked its second birthday back in January with a vote among its stakeholders to increase the blocksize from 1 MB to 2 MB. Evan Duffield, creator and chief architect of Dash, shared his thoughts with Finance Magnates about this move and his creation at the time.
Back in 2014 FXOpen launched Bitcoin, Litecoin and Namecoin liquidity for other brokers in partnership with BTC-e as part of their B2B liquidity provider offering. With it, brokers were first able to open accounts directly with FXOpen to trade bitcoins and to offer trading to their customers.
Natalia Zakharova, Head of Global Sales commented: “FXOpen continues to be at the cutting edge of the FX industry and is proud to announce further enhancements in crypto currency trading on MT4. With an ever increasing global interest in ethereum-based pairs and strong demand from our traders, we have quickly sourced the best liquidity available and added both ETH/USD and ETH/BTC markets our product range. We will also further expand out our crypto based accounts to include ethereum denominated accounts in the near future.”