Bitcoin exchange, BTC-E, among the top five exchanges by volume, and leader for bitcoin/ruble trading, has announced that they are launching the MetaTrader 4 platform. According to BTC-E, MT4 will be integrated with the exchange. Currently, the product is available for demo, with real trading launched at the end of their testing. When launched for live trading, the platform is expected to offer traders 3:1 leverage for bitcoin trading.
Among exchanges, BTC-E provides some of the tightest spreads for BTCUSD trading. In addition, their interface arguably provides the closest resemblance to tradition trading platforms with an integrated chart and order window on one page. As such, it appears that BTC-E has been focusing on customers with existing trading experience that are interested in digital currencies. Beyond just bitcoin, BTC-E has markets in other alt-curencies such as namecoin, litecoin, and novacoin.
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It’s worth keeping an eye on how the live product performs. With a rise of firms creating digital currency trading platforms, they could be disrupted if BTC-E proves that it can provide users liquid markets with the use of an off the shelf third party platform. As a widely used platform, MT4 provides a familiar interface for many bitcoin traders, as well as a simplified product to offer top of the book pricing. If BTC-E proves successful with their MT4 offering, it could theoretically lead to them partnering with established forex brokers, where BTC-E provides bitcoin liquidity on their platforms. In terms of current offerings, AvaTrade recently released a CFD version of BTC/USD trading on their MT4 platform, as well as Bit4X providing bitcoin denominated MT4 accounts.