Mysterious yet popular crypto-currency exchange BTC-e announced on Sunday that customers will now be able trade with the Chinese Yuan.
We are pleased to inform that new trading instruments with Chinese offshore Yuan has been added. Now btc-e clients can trade 3 new instruments. A unique trading instruments that enables you to benefit either from price fall or increase are now available in your btc-e MetaTrader4 and WebTrader platforms under following symbols: USD/CNH (available on WebTrader only), BTC/CNH, LTC/CNH
The following are trading terms outlined by BTC-e for MetaTrader 4 accounts:
- Deposit currency is CNH
- Minimum deposit amount – NONE
- Transfer to/out MT4 account – 0%
- Commission is 0.25 Right after you open a trade, you will see the round turn commission charged (Open + Close included)
- Minimal trading volume is 0.1 lot
- Leverage – from 1.1 to 1:3
- Margin call level is 30%
- Stop out is at 15%
The announcement comes at a very interesting time, if you haven’t already noticed. With whispers that the Chinese are poised to prevent banks and third-party payment processors from working with bitcoin exchanges (this has not been confirmed by authorities in China, as I outlined here), BTC-e may be putting itself in a position to embrace Chinese traders.
Right place, right time? Certainly appears so.