The ECN Forex broker FXOpen has created a new type of trading account known as Cripto Account, which specializes in transactions with cryptocurrencies as Bitcoin and Litecoin which in recent years have increasingly become a sensation in the world of financial markets, especially in the case of Bitcoins.
In this case, the trader can speculate Bitcoins, Namecoins, Litecoins and Peercoins against major currencies like the U.S. dollar, euro, ruble and yuan. The trader also has the ability to speculate on the value of a cryptocurreny against another, such as the case of bitcoins against litecoins for example.
Currency pairs that FXOpen offers to trade with cryptocurrencies are:
- BTC/CNH
- BTC/EUR
- BTC/RUB
- BTC/USD
- LTC/BTC
- LTC/CNH
- LTC/EUR
- LTC/RUB
- LTC/USD
- NMC/BTC
- NMC/USD
- PPC/BTC
- PPC/USD
The general characteristics of the Cripto accounts are:
General features
Trading platform
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Metatrader 4 for ECN
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Account currencies
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USD, EUR, GBP, RUB and JPY
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Trading instruments
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Currency pairs based cryptocurrencies (Bitcoin, Namecoin, Litecoin and Peercoins) and major currencies such as the EUR and USD.
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Price format
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5 decimal prices and interbank liquidity.
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Market Depth
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The best 250 Bid and Ask prices with available volumes. (You must download a plugin that provides Level 2 information in real time).
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Spreads
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Floating spreads depending on buy and sell orders in the market.
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Bonus for clients
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For the moment no FXOpen is not offering bonuses for Cripto accounts.
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Maximum balance
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No limit.
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Minimum transaction size
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0.01 lot
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Maximum transaction size
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It depends on the liquidity available in the market
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Maximum number of open trades
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No limit.
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Leverage
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1:1 – 1:3.
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Margin Call
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Margin levels less than 30%.
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Stop Out
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The losing trades are closed automatically when the margin level is less than 15%.
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Expert Advisors
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Yes
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Scalping
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Yes
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Hedging
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Yes
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Trading based on news
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Yes
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Trading by phone
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Yes
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Demo accounts
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Yes
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Trading Hours
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24/7
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The Cripto accounts of FXOpen provide an excellent opportunity for every trader and investor interested in making money by speculating on the most important cryptocurrencies today. These accounts can be useful especially for investors who have knowledge of the characteristics of these instruments.
Opening of a Cripto Account
If you are interested in more information about Cripto account of FXOpen and/or open an account of this type, either demo or real, you can enter the website of the company through the following link: