Best Forex Brokers Accepting Bitcoin 2020

XTM is also known as ForexTime, and commenced operations in 2011 from its de facto headquarters in Limassol, Cyprus. Since then, FXTM has achieved rapid global expansion, driven primarily by its desire to serve specific local markets with strong FX demand.

The FXTM brand is located in 3 jurisdictions, operated by the following FXTM companies:

• Exinity Limited (Regulated by FSC of The Republic of Mauritius).
• ForexTime UK Limited (Regulated by the FCA of the UK).
• Forextime Ltd (Regulated by CySEC and licensed by FSCA of South Africa)

How Does Bitcoin Work?

Bitcoin transactions require the use of wallets. All Bitcoin users’ wallets are assigned unique addresses. Transactions are recorded on the Blockchain.

Bitcoin can be transferred from one user’s wallet to another. Therefore, forex brokers who accept Bitcoin will be required to accept deposits by having the trader transfer BTC to their wallet. In the same vein, Bitcoin withdrawals by traders involve the transfer of BTC from the broker’s wallet to the trader’s wallet.

Why Use Bitcoin as Your Deposit/Withdrawal Method?

Bitcoin can serve as a good means of deposits and withdrawal. Mmost brokers that accept Bitcoin for deposits and withdrawal also allow the trader to trade BTC. Bitcoin is presently in limited supply and forex trading of BTC allows traders to get their hands on this cryptocurrency without having to mine it for themselves. Mining BTC is presently very expensive, consumes a lot of power and requires specialized equipment, which most traders do not have. So rather than go mining BTC or trading it on Bitcoin wallets, why not get more of it by trading it on the forex platforms and then withdrawing it to your BTC wallets?

There are Bitcoin exchanges all over the place and people are making money buying and selling Bitcoin. Any extra money you make from your forex broker can be withdrawn and sold for cash. Unlike other digital wallets, the BTC you withdraw from your forex account can increase in value over time and you will make more from selling it when the value increases.

Benefits of Choosing a Broker that Accepts Bitcoin

Here are the benefits of choosing a broker that accepts Bitcoin:

1. Bitcoin is one of the most secure non-fiat currency platforms as transactions must undergo a host of confirmatory processes before approval, all done with minutes. The security of this cryptocurrency makes it a favoured means of transaction.
2. If your broker accepts Bitcoin and also provides BTC asset for trading (as BTC/USD), you have access to charts and technical tools to know when the price is headed up or down. You know exactly when to trade.
3. It is very easy to create a Bitcoin wallet which is used to fund your forex account. Deposit and withdrawal transactions are easy and can be concluded in minutes.

How to Pick a Decent Broker That Accepts Bitcoin

It is very easy to find out forex brokers that accept Bitcoin. These are the ways to go about it:

1. Visit the Banking page of the brokers you intend to do business with and check if Bitcoin is one of the accepted payment methods. The same information can be obtained from the Frequently Asked Questions (FAQ) page.
2. You may decide to check online to get a list of Bitcoin-accepting forex brokers, then use this list to perform the checks listed in point (a) above.

PayPal Chargeback on Broker Account

Any forex transactions conducted with Bitcoin and transmitted through the Bitcoin network are usually irreversible and final. This is done by design to ensure that those who receive payments with Bitcoin are sure that their money will forever be in their possession. This design came on board before forex brokers started to accept Bitcoin for forex transactions, and unfortunately no modifications or exceptions can be made at this time.

Conclusion

Are you using Bitcoin to fund your brokers trading account? If so then you’ve come to the right place. Our brokers list outlines the very best brokers that accept the funding of Bitcoin.