ASIC regulated Forex broker FXOpen AU has launched Crypto accounts recently. The clients can now trade 15 most popular cryptocurrencies, including Bitcoin, Ethereum, Dash, and EOS in the form of CFDs on the MT4 platform.
The minimum deposit to open the account is 10 AUD, leverage is limited to 1:3 for all clients and trading commission is 0.5% half-turn. The broker offers 43 cryptocurrency pairs for trading. Cryptocurrencies can experience very high volatility and can be traded 24 hours a day 7 days a week.
To Trade Cryptocurrencies with FXOpen AU, traders need to register an eWallet, select Add Account > Crypto, and fill in the account opening form.
What is a Cryptocurrency?
Cryptocurrency is a digital or virtual currency emerged to work as a medium of exchange. As opposed to central banking systems and centralized digital currency, cryptocurrencies are completely decentralized and work through a blockchain (a public financial transaction database). The first decentralized cryptocurrency Bitcoin was released as open-source software 9 years ago. Since then, over 4,000 altcoins have been created and can be traded against each other or conventional currencies.
About: FXOpen AU Pty Ltd is authorized and regulated by the Australian Securities & Investments Commission (ASIC). The broker holds all retail client money fully segregated from own funds, in specially designated trust accounts held with registered ADI. FXOpen was the 1st broker in Australia that offered its clients true ECN trading via the MT4 terminal.