In sign that the traditional market traders are warming up to cryptocurrencies,
a fully regulated Forex brokerage introduces three leading cryptocurrencies
on the world’s most popular MT4 platform.
Ireland-based AvaTrade announced that it will introduce Ripple, Ethereum and Dash pairs to its traders. Bitcoin pairs have been an option here since 2013 but three more currencies are now being made available to satisfy the demand of traders. All three of the new pairs have the substantial market capitalization and liquidity that traders look for. AvaTrade CEO, Daire
Ferguson told press:
“The latest political and financial events have changed the trading world, and we work hard to ensure we stay on the top of our game… We are proud to be the first to introduce these exciting cryptocurrencies to our impressive instruments’ selection.”
The company is not the only one offering cryptocurrency pairs, although as of yet others such as eToro have not yet made an announcement regarding new pairs.
Retail Forex typically offers clients access to currencies, indices and commodities all by way of contracts for difference (hereafter CFD). This is a contract between two parties being buyer and seller, stipulating they will pay the difference between the current value of an asset and its value at contract time depending on the profit and loss. There is a fundamental difference in CFDs and the actual buy that exchanges offer.
Currently, the brokers who offer Bitcoin/fiat pairs include eToro and FXCM. These were added at the last spikes in Bitcoin media coverage which happened in 2013/14. Now with cryptocurrencies more mature and being covered by mainstream media once again, the demand for trading options to more traditional traders using regulated brokers is evident. Other firms might soon follow AvaTrade in introducing more cryptocurrency options.
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