Another major international leveraged trading brokerage has launched a contract-for-difference (CFD) for Bitcoin Cash paired against the US dollar. This means that Roboforex clients gain today the ability to trade the instrument on the most popular platform in the retail forex market, MT4.
Bitcoin Cash CFD
Roboforex, an IFSC (International Financial Services Commission of Belize) licensed financial broker, has expanded the list of cryptocurrencies available for CFD trading to its clients the via popular MT4 and MT5 FX platforms. The company’s traders now have the opportunity to speculate on the prices of bitcoin cash as well as dash, litecoin, and Ripple’s XRP. The leverage applicable for all the instruments is fixed at 1:10.
Only back in September 2017 the brokerage first provided its clients with an opportunity to trade leveraged instruments on assets from the cryptocurrency market, starting with bitcoin (BTC) and ethereum (ETH), which were made available in both Meta Trader platforms, MT4 and MT5, as well as its own R Trader.
Irresistible Popularity and Volatility
Explaining the rationale for adding the new instruments at this time, the company says it will allow traders to diversify their trading portfolios. It says that altcoins attracted a lot of attention from their traders’ clients throughout 2017 during the massive rally. CFD traders are especially attracted to volatility, as this form of leveraged trading allows them to go long or short. This combined with the “intensive development of the digital currency market” are the reasons Roboforex decided to introduce new crypto-based instruments.
Denis Golomedov, CMO at Roboforex, commented about the move: “We always keep up with the time and provide quality access to a wide range of trading instruments. The current situation is that a large part of our clients are trading cryptocurrencies and we see high potential in them. This market is very attractive due to its volatility. It is growing and scaling very quickly, and more and more people are taking interest in it. To satisfy this demand, corresponding infrastructure and services are required, and Roboforex is systematically, step by step, implementing them for its clients.”
Is now the best time to trade cryptocurrency on leverage with CFDs? Tell us what you think in the comments section below.
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Author: Avi Mizrahi