The Combination of Forex Broker Services and Crypto-ExchangeA newly developed peer-to-peer trading system enables NordFX clients to trade directly with one another, the advantage being that orders can be executed at favorable prices and with rapid speed execution, reducing, not only the impact of cryptomarket volatility on execution price but also trading fees and spreads.
The evolution of the cryptocurrency world continues and, while a number of crypto exchanges have been under the watchful eye of governments and regulators, the more seasoned have shown the capability and capacity to deliver the necessary functionalities for traders and investors to earn trading revenue from the cryptomarket, without facing the threat of theft.
A Peer to Peer Trading System on MT4
NordFX has brought a trading platform to the marketplace that allows traders to trade both FX and cryptocurrencies on a single platform, enabling the more seasoned traders and those looking to gain exposure into the world of crypto to do so without having to move away from the preferred MT4 platform.
While there are numerous crypto exchanges offering access to an array of cryptocurrency and token pairings, the MT4 platform for both FX and cryptocurrencies has been a hit as the newly rolled out offering of cryptocurrency trading on the MT4 platform being supported by NordFX’s Fix, Pro and Zero trading accounts, where credit leverage is offered, along with spreads starting from 1 pip on the Fix account, 0.9 pips on the Pro account and from 1 pip for crypto pairs and the option of trading crypto indices.
In addition to the MT4 platform, NordFX professionals have developed an MTEX trading system that has evolved the MT4 platform into a crypto exchange.
A newly developed peer-to-peer trading system enables NordFX clients to trade directly with one another, the advantage being that orders can be executed at favorable prices and with rapid speed execution, reducing, not only the impact of cryptomarket volatility on execution price but also trading fees and spreads.
The key to the success of any peer-to-peer trading system is reach and volume, something that NordFX can provide with clients in over 100 countries, with in excess of 1m active accounts, the reach and liquidity is there to ensure that trading costs are lowered and executions of orders can be at the necessary speeds to limit the effects of market volatility on execution price. All of those create an attractive combination when considering fees charged by other crypto exchanges, not to mention execution speeds that can lead to a quite substantial slippage.
While a large number of crypto exchanges offer a very limited number of cryptocurrency pairings, NordFX hasn’t held back in delivering to its clients and prospective clients with a vast number of pairings that include: BTCUSD; ETHUSD; DSHUSD; BCHUSD; XRPUSD; ZECUSD; BTGUSD; EOSUSD; ETCUSD; NEOUSD; LTCUSD; OMGUSD; XMRUSD; and IOTUSD.
Minimum and maximum lot sizes vary according to pairing, with margins being significantly less than the margins on offer for the less volatile FX pairings. The availability of the MT4 platform and peer-to-peer platform for trading cryptocurrencies will certainly be a crowd-drawing one, as more traders look to gain exposure to the cryptocurrency market while looking to hold on to the possibility to trade the more mature asset classes.
For traders looking to get a more blended exposure to the cryptomarket, NordFX has also created cryptocurrency indices that include 10ALT; TOP3ALT: TOP5CRYPT and TOP14CRYPT.
Adding to the allure of the NordFX MT4 platform and trading cryptocurrencies is the option to, not only go long but also short on the cryptocurrency pairings and indices.
With NordFX, traders are able to hold USD, ETH, and BTC in account balances and, while there has been plenty of bad press of cryptocurrency exchanges being hacked, NordFX has managed to protect trader assets with traders also being given the appropriate levels of security to protect individual trading accounts from theft.
Is this the Best Way to Trade Cryptocurrencies?
The MetaTrader4 platform is one of the most widely used trading platforms in the world and, with a maximum leverage of up to 1:1000 depending upon asset class and pairing, investors require very little in terms of minimum deposit to gain a meaningful exposure to trade cryptocurrencies.
Trading cryptocurrencies through one of the crypto-exchanges can require an effort for the common person with the obligation to open a digital wallet, the verification process at the chosen exchange and the complicated trading platforms at the exchanges. On the other hand, trading through MT4 trading platform via NordFX requires a simple process and a better understanding of price action with the MT4 features, including charts, technical indicators, market orders and more.
The newly developed peer-to-peer trading system enables NordFX clients to trade directly with one another, which is a huge advantage when considering the large client base and savings on fees and lower spreads, both of which are important, particularly in higher frequency trading.
While there may be many alternative trading platforms on offer, the MT4 platform is a tried and tested trading platform that is recognized for its ease of use, with the platform providing the necessary live streaming of prices and charts, a portal to place orders and functionality to manage exposures and the respective accounts. The MT4 attributes make it a natural fit for the MTEX peer-to-peer platform.
At the end of the day, the MT4 platform has been highly popular, since being released in 2005 and using NordFX’s as the chosen broker for trading cryptocurrencies should give traders plenty of comforts. After all, NordFX’s came into existence well before cryptomarket popularity shot through the roof.