HOW TO TRADE CRYPTOCURRENCY WITH FOREX

Is Crypto trading possible on forex and CFD platforms?

Of course, Crypto trading is possible on forex and CFD platforms. But there are significant variations that should be used in trading crypto on forex and CFD platforms you should know. 

You should first consider these things in comparison by trading on crypto exchanges. You should note what is sold on most forex/CFD platforms in cryptocurrency contracts for difference (CFDs).

CRYPTOCURRENCY

Or in other words, the trader signs a contract with a CFD provider on the underlying asset. These derivatives are based on the movement of the price of the underlying asset but do not involve the exchange or ownership of the cryptocurrency itself.

This means that there are no actual cryptocurrencies exchanged, or wallets to worry about. It also reduces

hacking risk. CFD traders can focus on how to capitalize on market movements. There are several key differences between cryptocurrency trading on forex/CFD platforms and exchanges you should know.

• No cryptocurrencies are exchanged in any trading transactions.
• There is no requirement to have a cryptocurrency wallet.
• You trade cryptocurrencies under terms and conditions agreed with the forex/CFD provider.
• You can trade crypto-fiat pairs like BTC/USD or LTC/USD, Unlike most crypto exchanges where you can only trade crypto-to-crypto pairs.
• You can only make deposits and withdrawals using fiat currency.

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