Forex trading has entered a new era with the introduction of cryptocurrencies such as Bitcoin to the currency and futures market. This new Bitcoin market has brokers offering new instruments for traders to cash in on the cryptocurrency boom. Among the first to offer Bitcoin trading is AvaTrade.
Cryptocurrency is the term given to several digital currencies that are created using encryption techniques. These currencies have no physical form and exist purely as encrypted data. They have gained popularity because they are not controlled by Central Banks or national governments, unlike other Fiat currencies. This makes them an ideal currency for secure, international, and internet-based transactions. Bitcoin has become the most widely accepted cryptocurrency, with many ecommerce sites accepting it alongside traditional payment methods.
Bitcoin futures trading has brought cryptocurrencies into the mainstream. Trading officially opens December 10 at Cboe Global Markets Inc. and CME Group Inc., both Chicago-based exchanges, making it possible for institutional and individual investors to begin trading Bitcoin instruments using AvaTrade’s trading platform.
AvaTrade has been an innovative brokerage company in the online trading business since 2006. The broker was created by a team of financial and ecommerce experts to make a better retail trading experience than was available at other brokers. Since then AvaTrade has grown to serve more than twenty thousand customers worldwide, settling over two million trades a month.
AvaTrade takes the user’s perspective and is well-financed, giving it a leg up on its online-trading competitors. The broker provides 24-hour support desk service in various languages and an extensive selection of platforms and services. This has tailored its trading environment to traders of every level of experience. AvaTrade offers Forex, stocks, commodity, and index trading instruments.
AvaTrade is based in Dublin, Ireland and has other offices in Paris, Milan, Tokyo, and Sydney. Because of its simple yet sophisticated trading platforms, the company has won nine different industry awards since 2009.