Overview of forex brokers with the ability to trade cryptocurrency
Participants in the global financial market could not disregard such an important event as the creation of cryptocurrency. Of course, at first, almost all economists, brokers, traders, etc., considered that this was some kind of new project of fraudsters. But after a few years, the attitude towards cryptocurrency changed for the better.
The following factors contributed to this:
• the rapid increase in the popularity of digital money;
• their application in different areas of activity;
• the official status of the payment instrument in many countries of the world.
After the cryptocurrency exchangers appeared on the Internet, and users saw that they could be freely transferred to fiat money, the number of opponents of military-technical cooperation and altcoins was significantly reduced. But even 10 years after the appearance of the first “cryptocoin”, there are people who continue to argue that this is a complex financial fraud, a “soap bubble” that can burst at any moment.
How forex brokers use cryptocurrency
The use of blockchain technology and reliable software are a guarantee of the security of well-known cryptocurrencies. Many users choose digital money for various financial transactions, arguing that they provide an opportunity to preserve the anonymity of transaction participants.
Critics of the considered financial instruments for some reason forget that in the modern world no one is immune from inflation, default or other troubles. Any national currency may depreciate completely within a week. And if we conduct a comparative analysis of the US dollar and the PTS, the latter has more chances to “survive” if there are any problems in the world economy. But this is a separate topic, not directly related to this review.
Currently existing forex brokers with cryptocurrency, in most cases, are promising trading platforms that offer their users a variety of ways to generate income. Employees of such companies are always trying to find all possible advantages of each innovation. However, they adhere to the following principles:
• a trading asset / instrument should be profitable, both for a brokerage company and its clients;
• no violations of the law, deception of users or the use of fraudulent schemes;
• Every client should be aware of all possible risks associated with this activity.
On trading floors, crypto coins can be used as an asset or means of payment to replenish broker clients ’accounts. At the moment, most forex brokers use digital money. As a rule, these are well-known cryptocurrencies: Bitcoin, Litecoin, Ethereum, XRP, etc., but lately, exotic names, about which practically nothing is known to beginners, are increasingly common.
How to choose a reliable forex broker
The use of cryptocurrency in the global financial market can be considered a positive development direction. Users of trading platforms do not just buy digital money, expecting to earn money by changing their value, but also receive additional income with the help of brokerage companies.
Unfortunately, the popularity of trading platforms and cryptocurrency is actively used to deceive users. Many novice traders lose money (sometimes they are quite large sums), trusting their capital to fraudsters. The latter attract into this “business” experienced professionals who create all the necessary conditions for future “clients”.
The main indicators by which you can distinguish the fraudster from a reliable broker
Before proceeding to a detailed study of the broker you are interested in, be sure to check what other users are writing about it. These can be “blacklists”, reviews / reviews on thematic sites or forums, etc. If your search did not give specific results or you found ambiguous evaluations of the broker’s activity, then you can start an independent study of the trading platform.
What you need to pay attention in the first place:
• “Age” of a brokerage company. Scammers do not work for a long time, they try, as soon as possible, to collect a decent amount of money and leave their site forever.
• Availability of licenses and regulators. Fun with them will never pay 100 thousand euros for obtaining the necessary documents. Be sure to check their authenticity! To do this, simply contact the organization that issues the above licenses and permits.
• Check how support services work. Reliable brokers pay special attention to this issue.
• Compare, the proposals of the company you are interested in with the conditions that you find on the web resources from the list: forex brokers top 20. Between them there should not be much difference.
• Examine the trading conditions of the company, methods of depositing / withdrawing funds, and the speed of the site.
Only by receiving answers on all the above points, you can make a decision about registering an account.
Examples of well-known forex brokers working with cryptocurrencies
The list of trading platforms that offer to make money on the forex market using cryptocurrency includes:
• Grand Capital.
• Forex Club.
A more detailed list of brokers with a detailed description of the capabilities of the resource can be found at the https://safetradebinaryoptions.com/forex-brokers .
Despite the rather pessimistic forecasts of some analysts about the future fate of crypto coins, many users no longer respond to them. They have been making such “predictions” for 10 years, but so far digital money is widely used in various areas of activity, including trading on the global financial market.