Another international brokerage firm just entered into the bitcoin ecosystem. Roboforex out of Cyprus added bitcoin CFD trading on their platform. This means clients will have indirect exposure to bitcoin, and speculate on the shorts and gains of bitcoin. The firm has also added ethereum to their available trading pairs. The company decided to add the cryptocurrencies as a result of client and market interest.
The firm will have btc/usd and eth/usd trading pairs. The pairs are available right now. The company press release also stated the partners in the company will get some of their commission in CFD cryptocurrency orders. Clients and partners can find the trading pairs on MT4 and MT5 terminals with Roboforex.
Growth of Bitcoin has Invigorated Investors and Traders
Like most other brokerage firms recent foray into the cryptocurrency ecosystem, bitcoin’s price has triggered a gold rush of investor curiosity. However, most of them do not have direct knowledge of bitcoin, and many prefer to trade via CFDs. The fact that bitcoin has nearly tripled in price over the last 8 months has further piqued investor interest. This interest is what led the director of Roboforex to enable bitcoin and ethereum trading. Kiryl Kirychenka, Product Manager at Roboforex, elaborated:
We’ve decided to enable cryptocurrencies for CFDs trading in the first place because of the keen interest of traders from all over the world to these assets. From now on, our clients will be able to derive profit from the fast growing cryptocurrency market without having to buy them. Roboforex offers one of the most favorable trading conditions for transactions involving digital currencies for both traders and investors. In the nearest future, we’re planning to continue developing in this direction and fundamentally improve our offers by adding new instruments and making trading conditions better
Mass Crypto Trading in the Marketplace
The Roboforex press release mentioned the spectacular daily turnover of bitcoin transactions has been a major reason for the surge of brokerage interest in crypto. The daily bitcoin to USD turnover or exchange volume is currently worth about 3 billion USD. This is likely why regulated firms like ETX Capital out of London also recently ventured into the space.
A mix of growing investor enthusiasm for cryptocurrency, mainstream adoption, and the vast amount of capital flowing in the space has generated a lot of excitement and hype. This means there is likely to be a continual influx of new firms embracing bitcoin as the currency sees more mainstream adoption, albeit through indirect exposure trading.
What do you think of CFDs in the growing bitcoin ecosystem? Let us know in the comments section below.
Images courtesy of Shutterstock and Roboforex
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