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How to trade cryptocurrency through your forex broker?25/3/2022
How to trade cryptocurrency through your forex broker? You can trade many of the major cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc. using some of the reliable and credible forex brokers in the market like Pepperstone, AMarkets, eToro, Swissquote, etc.To get more news about lymotrademart, you can visit wikifx.com official website. Bitcoin is one of the most popular cryptocurrencies out there. As we all know, the entire world of cryptocurrency started with Bitcoin itself. It is also by far the most successful crypto with its value appreciating from merely zero in 2009 to ~$7,250 as of today. The total market capitalization of Bitcoin as of May 2019 is $127.6 billion with a daily trading volume of $31.2 billion. Users can trade Bitcoins from almost all the major cryptocurrency exchanges which are currently operating in the market. The MetaTrader4, AKA ‘MT4’, is one of the most popular Forex trading platforms. This platform is used by millions of Forex retail traders across the globe. More than 95% of the forex brokers offer buying and selling of Crypto assets and other financial securities in this platform. All of the above-mentioned forex brokers can be accessed through this platform. MT4 is considered as one of the most complete trading platforms with a lot of trading tools & features. Traders prefer using this platform as it provides a lot of advanced tools & features like 80 pre-installed indicators, multiple chart setup, automated trading, etc. There is no service fee charged, and all of these services are provided to the traders for free apart from the minute brokerage fee. Trading Cryptos like Bitcoin on the MT4 platform is such a seamless experience for traders because most of the major Forex brokers provide all of their services for both Bitcoins and the MT4 platform. With all these credible forex brokers, Bitcoin trading can be done with most of the major fiat currencies. Also, MT4 provides a lot of technical analysis tools that can help traders in accurately trading Bitcoins and other Cryptocurrencies. What is CFD Trading CFD (Contract Of Difference) in financial markets, is a contract between a buyer and seller. Seller is supposed to pay the difference amount between the current value of the asset and the value of that asset at the time of when the contract is made. If the difference is negative, then the buyer pays the difference amount to the seller. Traders can make a profit by trading CFD’s depending on the price changes in the underlying asset on which the contract is made, without even owning those assets. Traders are simply using their judgment to decide if the price of that asset will increase or decrease. In CFD’s, you can make money not only when the value of the asset is appreciating, but also when it is depreciating. You can either long trade CFD or you can also short. Long trading CFD means you are betting that the value of the underlying asset will increase. And it is vice-versa when you are short trading CFD’s. Bitcoin CFD Trading It is just a contract between the trader and a broker. It allows traders to bet on the changes that can happen in the price of the Bitcoin. For example, if a trader thinks that the price of Bitcoin may go up, they can open an account at any broker that allows Bitcoin CFD trading and go long on the Bitcoin CFD. If the price of Bitcoin increases, trader makes money and the broker pays for it. The broker will make money, and the trader will lose if the Bitcoin price decreases. It is essential to note that Bitcoin CFDs are extremely risky, considering the price volatilities of this crypto. Hence this type of trading is suitable for experienced traders and not for beginners. There are many forex trading platforms to trade your Bitcoin CFD’s, but MT4 remains as one of the best platforms. It is the most popular platform among retail traders, and it provides a lot of valuable features. Features like advanced charting tools, wide range time frames, and different order types are the most notable ones.
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