Trading BTC with forex broker?

D

doggyfx

Pros and cons please? Going to try this with Hotforex but as I understand I don't trade actual bitcoins, but CFD.
What are your opinions on that?
 
Aside from Hotforex, the only broker I know that offers Bitcoin trading is ICMarkets.

Here are the pros and cons that I can think of trading Bitcoin CFDs:

Pros:
  • Easier to liquidate and withdraw cash since it's a contract with your broker
  • Good for short term hedging if you hold Bitcoins, but see short term downside risks

Cons:
  • Higher spreads since the broker does take on exposure too so they would need to be compensated accordingly
  • May also have to pay spreads + commissions
 
May be it is easy to deal with the other binary options, but I like to trade with the Forex Trading, it would be the best way to make some good money online.
 
jhehe said:
Aside from Hotforex, the only broker I know that offers Bitcoin trading is ICMarkets.

Here are the pros and cons that I can think of trading Bitcoin CFDs:

Pros:
  • Easier to liquidate and withdraw cash since it's a contract with your broker
  • Good for short term hedging if you hold Bitcoins, but see short term downside risks

Cons:
  • Higher spreads since the broker does take on exposure too so they would need to be compensated accordingly
  • May also have to pay spreads + commissions
More...

With those shady jurisdictions, regulations, bitfinex manipulations and scrutiny from watchdogs, exchanges won't last long.
Safety is the primary part in trading with cryptos
 
There are many things that are needed to become successful in the Forex Trading, you need to have lots and lots of knowledge and experience and skills to survive in the Forex.
 
BTC is in demand so many brokers are now having BTC as their trading pairs. I think broker is having a good reputation but I have not worked with them so cannot say 100% about it.
 
Yeah, Bitcoin Exchange is quite in demand in here. It is a worldwide cryptocurrency and digital payment system which is also called the first decentralized digital currency as the system works without single administrator or a central repository.
 
With this crypto technology i believe there are more than 600 - 800 digital currencies introduces so far in the market. That's why many experienced forex traders are also moving towards bitcoin and altcoin trading so the forex brokers have added it as another commodity for its current traders to trade on their platform and make money instead of moving to other bitcoin brokers.
 
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