Jun 22, · Much recently, a lot of forex brokers have started accepting bitcoins for forex trading. Some are even accepting additional numbers of digital coins. Some forex brokers integrate bitcoin as one of their forex trading deposit and withdrawal options. With . 33 rows · Bitcoin has been under the spotlight for some time and finally some brokers have started to . 16 rows · Dec 03, · Etoro is the latest among Forex brokers to make a foray into offering .
Forex brokers accepting bitcoinsBitcoin Forex Brokers, FX Brokers with BTC/USD Trading
Forex trading is commonly done over-the-counter in a decentralized system similar to Bitcoin and other cryptocurrencies. In spite of these similarities, they are not the same. While forex pairs traded in the forex market are backed by central banks across the world, the situation is different with Bitcoin or other digital currencies with only peer-to-peer governance structure.
Many Forex trading brokers that support Bitcoin deposits offer high leverage ratios to their traders. Some of them can offer very high leverage ratios up to Online traders with experience could use this to their advantage. Nonetheless, you should exercise caution because leverage is a double-edged sword that can magnify your gain and loss. There are no bank charges or agency fees in these trades whether international or local. Most online brokers equally let their work slide by as they charge you nothing for withdrawals or deposits.
There are no boundaries when doing trades with Bitcoins as you can be in Australia and trade with someone in Africa. Do not forget that there are countries that forbid bitcoin transactions. So, only go with what is permissible legally in your jurisdiction. There are several exchanges where you can trade forex with Bitcoins and their rates are different so you should get a full knowledge of this so that you do not make errors.
Try to find out from the Forex broker, the exchange rates they use on their platform before opening an account with them. A prevalent norm among many brokers is to convert the bitcoin deposited by traders into USD. Hence, you should be cautious when making such decisions so that you are on the good side when the rates are falling or climbing. In the past, there has been a high display of volatility when it comes to bitcoin. Since there are no regulations, some brokers could use this to their advantage so that the trader is put at a disadvantage.
Hacking is dangerous for Bitcoins and could make you lose your Bitcoin if your broker does not have insurance protection. So, before trading, look for a broker who is regulated to guarantee the security of your funds.
The system used for evaluating a cryptocurrency asset is different from the way forex assets are evaluated. When you talk about Forex trading, you are referring to the exchanging of global currencies and this is the biggest market worldwide.
With the introduction of Bitcoins and other cryptocurrencies, the Forex world has taken a new turn as top traders on that path have begun to cue into the cryptocurrency dealing. They now handle trades between Forex and Cryptocurrencies and this is a train you may want to hop onto too. It is difficult to predict the rates when dealing with cryptocurrencies since there is no material platform that causes it to rise or fall like other currencies worldwide.
Many keep amassing Bitcoins hoping it keeps rising and see it as a secure investment. Author: Mark Prosz. Although it might be the case when we are talking about new unregulated brokers, that barley happens in an unregulated broker that has been around for years and has a good reputation and almost impossible to happen in a well-regulated forex broker. The next reason that some people are willing to use Bitcoin for deposits and withdrawals is that they want to pay less for their transactions.
As you know, payment options such as online payments, wire banks, or credit cards each charge a fee when you deposit or withdraw money. Bitcoin is not an exception and when you deposit and withdraw, fees are charged. This is the explanation of Blockchain about the fees that are charged:. However, there are some forex brokers that reimburse the fees of deposits and withdrawals.
They do that as the bonus they provide to their clients — none in the table means that. Thank you. Have you used any of these services personally? If so, which do you recommend most and why?
During my trading career, I used all of them but Grand capital and Liteforex. Picking a broker depends on many factors such as your country, your trading strategy, your deposit amount, and some others. Some of them are slightly better than others in that case. Save my name, email, and website in this browser for the next time I comment. Skip to content. So, we have already established that trading with Bitcoin comes with an array of risks and benefits. However, Bitcoin can also be used to simply make deposits, before trading in a more commonly used currency such as USD.
Here is a list of brokers that accept deposits in Bitcoin:. LiteForex was founded in ; it offers gold and silver, CFDs and Forex pairs as trading instruments.
They accept deposits made in Bitcoin and allow mobile and automated trading, trailing stops, pending orders, and hedging. FXChoice also accepts deposits made in Bitcoin. They allow scalping and the use of expert advisers, as well as one-click trading, mobile access and trailing stops. We accept deposits made in Bitcoin and a range of other payment methods.
Our true ECN accounts offer lightning fast executions under 50ms and access to a deep and diverse liquidity pool, while our halal Islamic forex account options allow you to trade swap-free and with no interest charges on overnight positions.