Still in its infancy, bitcoin trading on MetaTrader 4 is a growing product, popping up on trading platforms at various brokers. The cryptocurrency got a boost last year as multiple technology providers, including Leverate and Gold-I began to offer pricing of bitcoins to their broker customers. This was followed by the launch of FXOpen’s bitcoin liquidity offering in January of this year, which provided brokers the ability to offer non-CFD-based bitcoin trading to their clients.
Following on the expansion of these products, coming soon will be what is being touted as a bitcoin first liquidity offering for brokers, Ibinex (Intelligent Bitcoin Exchange). Created by development firm Gallant Partners LLC, Ibinex will be providing bitcoin liquidity to forex firms, with an emphasis on MetaTrader brokers.
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Expected to launch on January 1st, 2015, Ibinex plans on offering 24/7 trading in bitcoins and other cryptocurrencies such as litecoin. According to Ibinex in their public statement about the coming launch of their exchange, they believe that as a 24/7 traded instrument, it provides added value to brokers who will now be able to offer weekend trading to their customers. For firms, a result of weekend trading is increased engagement with customers, as well as providing a tradable asset during a period when most clients aren’t expected to be working.
Similar to liquidity bridge solutions that allow for MetaTrader 4 brokers to automatically hedge their forex order flow with the interbank markets, Ibinex will be offering a bridge solution to their exchange. Overall, in their prepared public remarks, Ibinex believes that by providing a direct connect to the MetaTrader 4 server API, the end result for broker customers is bitcoin trading on a platform they are familiar with. In addition, MetaTrader 4 integration will allow traders to use their existing Expert Advisor (EA) automated trading strategies.
Although launching in 2015, Ibinex has begun to open up its pre-signup phase and to demonstrate its offering to prospective broker clients.