Dukascopy Starts Offering Crypto CFDs Trading on MT4

Dukascopy has expanded its trading services 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. On Tuesday, the Swiss company announced that it has added CFDs contracts of Bitcoin, Ether and Litecoin.

The broker will add cryptocurrency trading for traders using the MetaTrader 4 platform: before it was only offering crypto trading on jForex Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. These new services will be added to both live and demo trading environments.

“Unlike traditional purchase of cryptocurrencies trading cryptocurrency CFDs (Crypto) allow speculative operations without having a digital wallet. There is no need to own cryptocurrency coins eliminating cybersecurity risks,” Dukascopy explained. Traders can take both long and short positions on the three listed crypto assets.

All three digital currencies will be listed against the US dollar. In addition, the announcement detailed that traders receiving services under Dukascopy Bank will get maximum leverage of 1:5, while Dukascopy Europe clients will receive maximum leverage of 1:2.

“Due to the leverage provided on trading accounts the client can hold cryptocurrency CFD positions larger than [the] amount of traditional currency initially owned,” the broker added.

Crypto Trading Is in Demand

Similar to Dukascopy, its competitors have added the asset class amid demand among traders. Moreover, the volatile nature of cryptocurrencies prompts traders to take more positions, thus benefiting the revenue of the brokers. Earlier, Saxo Markets launched similar crypto trading services for its clients.

The crypto market is going through a recent turmoil. The Chinese crackdown on crypto mining has affected the market badly and all of the top tokens have shed significant value.

Meanwhile, Dukascopy’s business boomed over 2020 due to the influx of retail traders. The company posted operating income of the company touched CHF 40.1 million, making a record in its operational history.