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Published On: Fri, Aug 18th, 2017

Vantage FX Adds Bitcoin to MT4 Trading Platform

Vantage FX, an Australian regulated broker, has added Bitcoin to its MT4 trading platform, joining a slew of other brokers jumping on the cryptocurrency bandwagon.

Clients can now trade bitcoin as a CFD (contract for difference) on Vantage FX’s platform. Because Vantage FX acts as a CFD broker and not a bitcoin exchange, traders will be unable to receive a delivery of bitcoins to their wallets.

Bitcoin
Image/CASASCIUS

Vantage FX joins other brokers, including Avatrade and FXOpen, in offering Bitcoin trading. Coinsetter has also launched Bitbroker, which provides bitcoin liquidity and market data to brokers. Bitbroker makes it easy for brokers to start offering bitcoin trading to their clients.

Signing up for Bitcoin exchanges is typically a long a tedious process, but these exchanges also provide traders with an actual delivery of bitcoins to their wallets. Vantage FX and other similar brokers offer bitcoin CFDs. This means that while the sign-up process is simple and easy, traders do not receive a delivery of bitcoins.

In terms of security, CFD models have an advantage, as the mechanisms used in exchanges are more vulnerable to hackers.

David Bily, Director of Sales at Vantage FX says the 1:1 offering is by design. Vantage FX does not plan to offer high leverage bitcoin, which means clients are protected from “flash crashes.”

Vantage FX still recommends that clients do their research and due diligence before trading bitcoin, as the market can be volatile.

Vantage FX isn’t the first broker to add bitcoin trading to its platform. FXOpen added bitcoin in 2014 for its retail clients. At launch, clients were able to trade bitcoin, namecoin, litecoin and peercoin.

FXOpen has also launched a liquidity provider, much like what Coinsetter has done with Bitbroker.

Bitbroker uses an MT4 bridge to distribute liquidity, and also supports FIX 4.4 API connections, a technology that Coinsetter launched earlier in the year.

Coinsetter CEO, Jaron Lukasiewicz, said, “We’ve worked closely with Shift to develop Bitbroker, a comprehensive and truly turnkey solution for the market that we are excited to launch today.”

Shift Forex CEO, Ian McAfee, said Coinsetter’s API solutions, extensive liquidity and margin has allowed broker clients to take advantage of a truly turnkey solution.

Now that bitcoin liquidity is no longer an issue, brokers like Vantage FX will find it much easier to transition to offering bitcoin trading on their platforms. Vantage FX’s client-first approach provides an extra layer of protection for traders.

Author: Jacob Maslow

About the Author

- Outside contributors to the Dispatch are always welcome to offer their unique voices, contradictory opinions or presentation of information not included on the site.

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