And the First Forex Broker to Offer Bitcoin Trading is…..
It was only a matter of time, and now UK licensed Plus500 becomes the first Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term broker to launch bitcoin trading. The leveraged CFD is based on pricing from leading exchange MtGox. The BTC/USD CFD is priced with a minimum spread of $1.00, has 4:1 Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term, and is available for short trading.
Flying under the radar, Plus500 has been around since 2008, and in addition to its FX offering has been aggressively growing its list of CFD products. According to Forex Magnates estimates, Plus500’s monthly volumes are around $8-12 billion. While the broker has been growing its business, it fell into hot water issues with the UK regulators and was fined last year by the FSA for £205,128 for failing to submit transaction details.
Like CFD heavyweight IG Group, who became the first broker to provide bitcoin binary options trading as it added the product to its extensive list of CFDs and binaries; the launch of the BTC/USD trading at Plus500 appears to fit in their goal of focusing on non-Forex derivative products. Plus500’s bitcoin launch comes as multiple trading platforms are expected to hit the market soon.
While Plus500 becomes the first forex broker to provide bitcoin trading, it isn’t expected to be the last. Along with eToro which has publically stated is interest in the products, Forex Magnates has heard from several brokers that they are also involved in internal discussions about offering the product. For brokers, launching bitcoins as a CFD would be the easiest and most natural way to offer trading. Unlike bitcoin exchanges, with CFDs prices are derived from the actual prices, but don’t involve the company in facilitating an actual exchange in assets (more on forex brokers and the potential of bitcoin trading). Interestingly though, Plus500 hasn’t initiated the ability for customers to deposit or withdraw in bitcoins.
It was only a matter of time, and now UK licensed Plus500 becomes the first Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term broker to launch bitcoin trading. The leveraged CFD is based on pricing from leading exchange MtGox. The BTC/USD CFD is priced with a minimum spread of $1.00, has 4:1 Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term, and is available for short trading.
Flying under the radar, Plus500 has been around since 2008, and in addition to its FX offering has been aggressively growing its list of CFD products. According to Forex Magnates estimates, Plus500’s monthly volumes are around $8-12 billion. While the broker has been growing its business, it fell into hot water issues with the UK regulators and was fined last year by the FSA for £205,128 for failing to submit transaction details.
Like CFD heavyweight IG Group, who became the first broker to provide bitcoin binary options trading as it added the product to its extensive list of CFDs and binaries; the launch of the BTC/USD trading at Plus500 appears to fit in their goal of focusing on non-Forex derivative products. Plus500’s bitcoin launch comes as multiple trading platforms are expected to hit the market soon.
While Plus500 becomes the first forex broker to provide bitcoin trading, it isn’t expected to be the last. Along with eToro which has publically stated is interest in the products, Forex Magnates has heard from several brokers that they are also involved in internal discussions about offering the product. For brokers, launching bitcoins as a CFD would be the easiest and most natural way to offer trading. Unlike bitcoin exchanges, with CFDs prices are derived from the actual prices, but don’t involve the company in facilitating an actual exchange in assets (more on forex brokers and the potential of bitcoin trading). Interestingly though, Plus500 hasn’t initiated the ability for customers to deposit or withdraw in bitcoins.