More Bitcoin CFDs Hit the Market as eToro and UFXMarkets Launch Offerings

Last month Forex Magnates published that eToro had launched a public beta version of bitcoin trading. Based on its ‘shares’

Last month Forex Magnates published that eToro had launched a public beta version of bitcoin trading. Based on its ‘shares’ offering, the broker has officially launched the product today with minimum trade sizes of $10. However, unlike eToro’s equity stock offering which shares similar traits to mutual funds, with a once and day acquisition of shares, bitcoin orders will be executed four times a day.

The public launch from eToro occurs as another broker, UFXMarkets has also announced that it is beginning to offer bitcoin trading to its users. At UFX Markets, the CFD is being provided with what is considered pretty flexible trading conditions as 10:1 leverage is being provided. In its initial marketing, the broker is focusing on the potential trading benefits of bitcoins due to its volatility, Chris Judd, Chief Analyst at UFXMarkets stated in the company’s public release that “Forex traders don’t need to care how economies are doing or whether something new will catch on. Volatility creates great opportunities for Traders. That means that no matter what you think about the future of bitcoin, it’s an ideal trading asset.”

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Suggested articles

Ready to kick-off your Trading Game with Manchester United?Go to article >>

Contrasting to UFXMarkets, in publicly launching bitcoin trading, eToro has decided to focus on the disruptive benefits of bitcoin as a peer to peer digital currency. This attitude is not surprising as the company’s CEO, Yoni Assia has been a vocal proponent of bitcoins in the past, with company also hosting industry related meetings. In their public release, Assia stated that “Both eToro and Bitcoin were born out of the social revolution. It’s therefore very apt for us to take the lead in making Bitcoin – essentially the world’s first crowdsourced currency – available to the masses. Through our social network, individuals can easily and conveniently invest in Bitcoin and take advantage of a new type of investment either with their own strategies or by harnessing the wisdom of our members.”

Overall, similar to the many brokers launching Chinese yuan related trading in 2013 to offer customers exposure to the world’s fastest growing economy, in 2014 focus is turning towards digital currency CFDs. As trader interests change, the launch of such instruments provides brokers potential tools to invigorate trading among dormant accounts as well as appeal to new customers. Currently, brokers have access to three technology providers that have created custom bitcoin feeds for retail trading platforms.

Got a news tip? Let Us Know