Bitcoin and Cryptocurrency Trading in Forex


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Forex is an ever-growing marketplace regulated by the supply and demand and fueled by the desire of its participants to generate profit and expand their revenues.

It’s a live organism that is constantly developing and offering new opportunities for extra income. A recent trend in Forex is cryptocurrency trading based on the use of the virtual currency as trading instruments.

Read the latest in-depth Cryptocurrency analysis and opinion on leading cryptocurrencies including Bitcoin, Ethereum, Litecoin at FXOpen blog. The altcoin analysis published twice a week will help you in trading. 

Virtual currency trading as a Trend: Bitcoin and Forex

Obtained digitally by “mining”, cryptocurrency has become one of the most favored trading tools among Forex traders seeking transaction anonymity.

Cryprocurrency is electronic money created by a process commonly referred as mining and is managed through cryptography, i.e., encryption techniques providing safety and security of transactions, minimizing chances for counterfeiting.

In operation, cryptocurrency uses P2P technology with all the functions carried out by the network. This gives the advantage of being totally decentralized and unaffected by the activity of central banks and other financial institutions. 

Today, the following cryptocurrencies are available for trading in Forex:

  • Bitcoin (the most popular one)
  • Litecoin
  • Namecoin
  • Peercoin
  • Ethereum

Each has its own specific characteristics but they generally function under the same principles. 

Why is virtual currency trading worth trying?

  1. Secure – strong cryptography techniques protect transactions with virtual money; all of them are publicly recorded (blockchain) which minimizes the risk of fraud and abuse. 
  2. Open – cryptocurrencies are generated through open-source software; they are transparent, decentralized and belong to no authority that might have power over prices.
  3. Digitally created – all of the above-mentioned cryptocurrencies come into existence through mining, i.e., maintaining the block chain by offering one's computer system.
  4. Easy – people around the world may carry out virtual currency trading quickly and at a low cost from any device such as computers, tablets, and smartphones. You can send money to any person worldwide without restrictions. 

Not many brokers in the Philippine market offer an opportunity for cryptocurrency trading. FXOpen is one of the stable and regulated brokerage companies that have created a special environment for this digital currency trading.

In early February (2014), FXOpen quickly adjusted to the ever-increasing focus of the modern Forex community on electronic currencies and introduced the innovative Crypto accounts.

Benefits of the FXOpen Crypto accounts:

  • Round-the-clock cryptocurrency trading 7 days a week
  • No swap charges
  • More than 13 cryptocurrency pairs (the list of trading tools is constantly expanded)
  • No-commission deposits in Bitcoin, Litecoin, and Namecoin
  • Demo environment for Crypto accounts
  • Partnership program for Crypto accounts

To try your hand in virtual currency trading, open an FXOpen Crypto account and choose any suitable trading instrument. Demo Crypto Accounts are available in the MT4 ECN Demo terminal. Starting from September 2017 traders can open Crypto PAMM accounts and trade such cryptocurrencies as Bitcoin, Ethereum, Litecoin and DASH against the US Dollar, Euro and Russian Ruble in the form of CFDs. 

PAMM Crypto accounts

Being in the market for over 10 years, FXOpen has proven to be a reliable broker, constantly improving its business terms to follow the latest trends in the market and offer its clients only the best trading options possible.