Coinsetter, the global bitcoin exchange based in New York City, and Shift Forex, a leading foreign exchange consulting firm, today announced the launch of Bitbroker, a new bitcoin liquidity and market data service for foreign exchange brokers.
Bitbroker enables forex brokers to add bitcoin as a trading option within existing margin FX infrastructures, with full support for MetaTrader 4 via an MT4 bridge. Coinsetter’s high performance, low latency bitcoin exchange was built for institutional and professional traders who demand reliability and tight spreads. Coinsetter’s liquidity is accessible through the bitcoin industry’s first Wall Street-caliber FIX 4.4 API, with ironclad security provided by Securicoin®.
Since January, Coinsetter has offered businesses and other select customers access to margin trading and post-trade settlement. In addition to high performance technology, Bitbroker further supports brokers with margin trading and shorting, providing up to 5:1 leverage to make integration less capital intensive. Brokers can connect via FIX API or a MT4 bridge.
“We built Coinsetter to support institutional liquidity and low latency trade execution, which makes it an ideal fit for FX brokers globally,” said Jaron Lukasiewicz, CEO of Coinsetter and Cavirtex, the leading bitcoin exchange in Canada. “We’ve worked closely with Shift to develop Bitbroker, a comprehensive and truly turnkey solution for the market that we are excited to launch today.”
“Bitcoin is a natural product extension for FX brokers worldwide,” said Ian McAfee, CEO of Shift Forex. “With its extensive liquidity, margin and API solutions, Coinsetter was the clear choice for a turnkey liquidity service for our broker clients. We are excited to bring this cutting edge product to a broader global market.”
More to come on this new offering, stay tuned to LeapRate…