BUY BITCOIN
The recent market movements characterized by high volatility has got many brokers letting go of their cryptocurrency-based offerings. In such times NordFX comes to the rescue of traders who are interested in dealing with these digital assets. The company has made it easier for traders to invest cryptocurrencies through not just the crypto-exchange services but also brokers. As a part of its mission to ensure the best interests of its users, the market reputed brokerage firm, NordFX is now providing its customers with a 1000-time credit leverage ratio, i.e., the up to 1:1000 credit leverage broadens considerably the opportunities for willing investors and traders to increase their profit dozens and hundreds of times. Experienced traders welcome this new feature.
Brokers Vs. Exchanges
The key advantage of brokers over exchanges lies in the fact that with brokers, traders can earn profit both from the increase and decline in cryptocurrency prices. If, for instance, they have purchased bitcoin for $20,000 over an exchange and the price drops to $10,000 after a month, the trader can sell it either at the loss of 50% or hold the bitcoin until price rises. However, with brokers, because of the contracts for difference in prices, traders can still earn a profit, even if the value of cryptocurrency declines to zero. The use of the leverage ratio of 1:1000, offered by NordFX, implies that the traders’ profit may not be 50, but 50,000%, in our example. However, huge profits imply huge risks as well, that is why working with such a leverage ratio requires the trader to have considerable experience and to be very careful.
Why Is It Recommended to Work With Brokers Like NordFX?
Some of the other advantages of working with brokers include:
- Quick and easy account opening (less than a minute);
- The best prices for cryptocurrencies due to many direct liquidity providers;
- Those who do not want to deal with trading, can simply invest into cryptocurrencies using leverage 1:1, buying them at the current price and selling them later at a more profitable rate.
Defining the Leverage
Leverage is the amount of money that a broker provides the client with, automatically and without any collateral, for transactions in the financial markets. On NordFX, with the help of leverage ratio of 1: 1000, a trader or investor can make transactions for volumes up to 1000 times that of his own funds. Thus, having only $100, you get the opportunity to conclude CFD transactions for up to $ 100,000. That is, you can buy or sell 10 Bitcoins, 100 Ethereums, 500 Litecoins or 100,000 Ripples. To date, NordFX offers trading on six major cryptocurrencies. Deposit and withdrawal of funds from the account are available in USD as well as in BTC and ETH.
Hedging the Risk
When dealing with CFD, you cannot forget about another useful thing – the ability to hedge your risks, while simultaneously opening more than one transaction, some to buy Bitcoin, and some to sell it. Or, one can operate several cryptocurrencies at the same time, earning on the difference in their rates even with minimal price fluctuations, which is possible thanks to the large leverage.
Lastly, cryptocurrency trading on NordFX can be carried out using the MetaTrader 4 platform, which offers a familiar interface to many traders of both crypto as well as traditional financial instruments. A recent survey conducted by one of the financial magazines demonstrate that most traders (61.44%) use technical analysis in trade, and the platform is known to have a lot of built-in of scripts and indicators. Also, there exist thousands of advisory robots for this platform. It will help traders make informed trading decisions while allowing them to carry on their operations in a fully automatic mode.
The award-winning team of NordFX will keep progressing with more great features and services in future.
To know more about this broker and start trading, please visit NordFX website.
