Plus500 Eases Trading Conditions For Bitcoin and Litecoin CFDs
- Leveraged CFDs with longer expiry dates on digital currencies are now available on the publicly traded broker's platform, it also confirmed that it would try to offer more options like Dogecoin trading.
In November 2013, 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 Magnates reported that the London Stock Exchange's AIM listed CFD broker, Plus500 had to change trading conditions on its Bitcoin offering after the digital currency's great jump in value, canceling short trades, setting expiry dates and limiting leverage.
But now it is confirmed by the company that those stiff trading conditions have recently become much more flexible.
Speaking with Forex Magnates about the current situation with Bitcoin and Litecoin CFDs on the broker's platform, Elad Even-Chen, the VP of Business Development at Plus500, said that Bitcoins are now traded with leverage of 1:10 and expire only monthly. Litecoins are also offered with a leverage of 1:10 but expire on a daily basis.
Plus500 responded to demands from its clients for higher leverage on Bitcoins, and its risk approach allowed the broker to make these changes to the trading conditions. Asked by Forex Magnates what the plans for the next level of leverage on Bitcoin are and whether 200:1 possible is in a year from now, Even-Chen said: "We believe 1:10 leverage is the highest we can go with the current volatility of Bitcoins. If volatility changes so will the leverage."
All the broker was willing to share publicly on how are they handling the very high comparative volatility of Bitcoin at this point is that they "have internal systems for this that monitor it."
As Plus500 was the first broker to offer leveraged trading on Bitcoin and later Litecoin, Forex Magnates inquired if the firm is planning on adding more digital currencies CFDs in the future like DogeCoin for example. The company's answer was positive, Even-Chen responded: "Yes, as soon as market Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term enables it. As always, we try and offer our customers the best possible range of indices."
To learn more about "the world’s first crowdsourced currency," Dogecoin, click here.
Screenshot of Plus500 mobile platform showing the ability to short BTC and LTC
In November 2013, 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 Magnates reported that the London Stock Exchange's AIM listed CFD broker, Plus500 had to change trading conditions on its Bitcoin offering after the digital currency's great jump in value, canceling short trades, setting expiry dates and limiting leverage.
But now it is confirmed by the company that those stiff trading conditions have recently become much more flexible.
Speaking with Forex Magnates about the current situation with Bitcoin and Litecoin CFDs on the broker's platform, Elad Even-Chen, the VP of Business Development at Plus500, said that Bitcoins are now traded with leverage of 1:10 and expire only monthly. Litecoins are also offered with a leverage of 1:10 but expire on a daily basis.
Plus500 responded to demands from its clients for higher leverage on Bitcoins, and its risk approach allowed the broker to make these changes to the trading conditions. Asked by Forex Magnates what the plans for the next level of leverage on Bitcoin are and whether 200:1 possible is in a year from now, Even-Chen said: "We believe 1:10 leverage is the highest we can go with the current volatility of Bitcoins. If volatility changes so will the leverage."
All the broker was willing to share publicly on how are they handling the very high comparative volatility of Bitcoin at this point is that they "have internal systems for this that monitor it."
As Plus500 was the first broker to offer leveraged trading on Bitcoin and later Litecoin, Forex Magnates inquired if the firm is planning on adding more digital currencies CFDs in the future like DogeCoin for example. The company's answer was positive, Even-Chen responded: "Yes, as soon as market Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term enables it. As always, we try and offer our customers the best possible range of indices."
To learn more about "the world’s first crowdsourced currency," Dogecoin, click here.
Screenshot of Plus500 mobile platform showing the ability to short BTC and LTC