Some news coming from the BTC-e camp this morning.
The shadowy exchange (and we say that because we really don’t know very much about the people who run it) announced that it has launched multi-currency accounts for MetaTrader 4.
MetaTrader 4 is a free trading terminal.
These trading accounts are said to be denominated in bitcoin, litecoin, and namecoin, along with the most popular fiat currencies used on the platform, which include the euro, yuan, pound sterling, and the ruble.
Multi-currency MT accounts have exactly the same benefits and trading conditions as MT accounts denominated in USD. The only difference is that Bitcoin, Litecoin, Namecoin, EUR, GBP, RUB and CHN will be used as the “base asset” to display balance, profit and other parameters of your trading account in Meta Trader 4 (MT4).
So what exactly is the benefit for users here? According to BTC-e, there’s no longer the need for users to convert their crypto-currencies into U.S. dollars before transferring them to MetaTrader.
Users can open a trading account denominated in the currency of their deposit and save on conversion costs.
The exchanges says they’ll permit an unlimited number of trading accounts, allowing the trader to open accounts in different currencies and conducting their business while avoiding potentially costly conversion fees.
BTC-e exchange has remained a popular choice for traders in the crypto realm, particularly for the fact the exchange is lax on collecting personal information (which explains just why the exchange’s owners aren’t out in the open).
Many have criticized BTC-e’s secrecy, but even given that, the exchange has seemingly been hard at work adding useful features for their client base.