Irish forex broker, AvaTrade, is struggling to become a trendsetter in forex business innovation. Yesterday (12/03), this broker has just launched a trading facility using Litecoin, a type of virtual money similar to Bitcoin.

Although lately digital currencies have often been hit by negative news, especially due to the bankruptcy of one of the world's largest bitcoin exchanges, Mt Gox, which eliminated hundreds of bitcoins equivalent to a value of millions of dollars, still did not dampen AvaTrade's intention to continue to innovate trading using bitcoins. Brokers that still support trading with bitcoins, including AvaTrade, are adding liquidity to their systems thereby gradually increasing the amount of leverage for traders trading using bitcoins.
                                     
For example, AvaTrade offers 20:1 leverage using Bitcoin and 10:1 leverage by trading with Litecoin. Another broker that also offers a similar facility is Plus500 which offers 17:1 leverage for traders using bits and Lite coins, an increase from the offer of 10:1 leverage last month.

Litecoins is the second largest cryptocurrency in the digital money market after bitcoin, of which the total value of Litecoin spread is equivalent to $400 million. While the market price for Bitcoin is $8 billion. The creation of Litecoin is inspired by bitcoin which is technically identical to bitcoin with minor improvisations and certain differences.