Russian Grand Capital, Latest Forex & CFD Broker to Launch Cryptocurrency Trading

Russian based Grand Capital announced this week that is has begun to offer trading in cryptocurrencies in addition to its

Russian based Grand Capital announced this week that is has begun to offer trading in cryptocurrencies in addition to its existing selection of forex, commodities, and equity index trading products.  The broker is part of KROUFR, a Russian self-regulating organization (SRO) for the forex industry.  Due to the lack of formal financial regulations for forex trading in Russia KROUFR was created to provide some sort of oversight for the industry.

As opposed to other online brokers who have launched cryptos, Grand Capital is extending their offering beyond just bitcoins (BTC), also adding trading in litecoin (LTC), namecoin (NMC), and peercoin (PPC).  Depending on the cryptocurrency denominations are available in euros (EUR), US dollars (USD), Russian Ruble (RUB) and Chinese yuan (CNH)

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The entire list of tradable products are:

  • BTC/USD
  • BTC/EUR
  • LTC/BTC
  • LTC/USD
  • NMC/USD
  • LTC/EUR
  • BTC/RUB
  • LTC/RUB
  • PPC/USD
  • PPC/BTC
  • BTC/CNH
  • LTC/CNH

Trading is available in the form of a CFD, which tracks the price of the cryptocurrency but doesn’t provide traders ownership of the digital currency.  Similar to other brokers that have launched cryptos, leverage is being reduced for these products by 50.  As a result, customer allowed to trade with 200:1 leverage, have access to 4:1 leverage for cryptos.

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