Admiral Markets joins the list of forex brokers who have recently been busy providing Bitcoin trading. Not only that, but this UK FCA regulated forex broker also provides 3 similar cryptocurrencies which are both based on blockchain technology.
Responding to Bitcoin's Impressive Growth
The addition of Bitcoin instruments to forex brokerage services has become a phenomenon motivated by the skyrocketing popularity of this cryptocurrency. Its growth can even be compared to the surge in interest in gold in the mid-19th century.
This year alone, the price of Bitcoin shot up 300%, accompanied by a skyrocketing rise in Ether by 5000%. Even though it has been corrected after topping the level of $400 per 1 Ether, the price movement of this cryptocurrency still fluctuates around 8-12% every day.
Seeing this potential, many forex brokers are competing to open trading opportunities with cryptocurrencies, especially Bitcoin. Admiral Markets for that matter following in the footsteps of forex brokers who have already provided a platform for clients to participate in the cryptocurrency market.
Available On Regular Trading Accounts
Unlike Alpari which recently offered Bitcoin as a CFD instrument on ECN accounts, Admiral Markets chose to open cryptocurrency trading opportunities on regular "Admiral Markets" accounts. The range of instruments provided includes:
- BTC/USD (Bitcoins vs USD)
- ETH/USD (Ether vs USD)
- LTC/USD (Litecoins vs USD)
- XRP/USD (Ripple vs USD)
Because it is still very new, Admiral Markets imposes 2 special rules for trading cryptocurrencies, namely:
- Trading can only be done in long positions. Short selling is not permitted because all transactions are still backed by Admiral Markets.
- Net exposure for trading in all types of cryptocurrencies cannot exceed 10,000 EUR or its equivalent.
Despite the above conditions, trading Bitcoin and other cryptocurrencies at Admiral Markets provides unlimited opportunities. Clients can make transactions around the clock, 24 hours a day and 7 days a week.
Admiral Markets is an experienced broker who has been serving forex trading since 2001. Before expanding into cryptocurrencies, Admiral Markets already offered a variety of trading instruments which include 31 forex pairs as well as dozens of CFDs on commodities, stock indices, stocks, and bonds.
Admirals is a well-known broker that supports clients with a variety of technical analysis tools. More than that, Admirals allows trading with 0 spreads and leverage of up to 1:500.