FXOpen Expands Crypto Currency Offering, Adds Bitcoin and Litecoin Denominated Accounts

Expanding its crypto currency offering, online forex broker, FXOpen has announced the launch of bitcoin and litecoin denominated accounts. The new feature allows account holders to trade any product at FXOpen such as foreign exchange and commodities, along with 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, with the account and live profit and loss values denominated in bitcoins and litecoins. The two new account types are in addition to gold which is also being integrated now, as well as other major currencies such as the dollar, pound and euro.

So far in 2014, FXOpen has been moving aggressively in the digital currency space. Earlier in the year they created a B2B unit offering bitcoin Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term to other brokers. This was followed in February when trading in bitcoins, litecoins, namecoins, and peercoins were made available to retail customers. Similar to their other trading products, digital currencies were made available for trade using the popular retail platform, MetaTrader 4. At the time of the retail launch, customers were able to also fund accounts using crypto currencies. However, the currencies were exchanged into fiat. With the new account types, traders can elect to keep the balance of the account in bitcoins or litecoins, thus removing the need for exposure to fiat.

For bitcoins, accounts will be denominated in milli-bitcoins (1 MBT = 0.001 BTC). Litecoins though, will not be offered in fractions.