After initially launching cryptocurrency trading in October, Limassol based Retail FX brokerage group RoboForex has announced that it is increasing the leverage clients can use in trading Bitcoin, Ethereum, et al to 10x.
When first launched, RoboForex was offering between 1:1 and 1:5 leverage on cryptos.
RoboForex is making the move despite the recent hyper-volatility in Bitcoin and its crypto cousins which, unlike traditional currencies, have seen frequent intraday 10%+ price spikes or dips, often without explanation other than traders running for the exits (or to get it). However, the competition among Retail FX brokers for clients looking to trade cryptocurrencies is very hot right now, leading to moves such as this one by RoboForex.
RoboForex stated that it is systematically developing its proprietary services and improving trading conditions the company offers to its clients. From now on, traders with Pro-Standard, ECN-Pro NDD, Pro-Affiliate, ECN-Pro Affiliate, and R Trader account types will have an opportunity to perform trading operations involving cryptocurrencies with the leverage value of 1:10.
Introduced changes will be applied to both open positions and positions that will be opened in the future. Earlier, the maximum values were from 1:1 to 1:5 depending on the account type. The increased leverage value will allow to decrease margin requirements and help traders both to increase the number of your trading operations and to expand the list of trading strategies they use.
The increased leverage will be available only to clients of RoboForex’s Belize company, RoboForex Ltd, not to clients of its CySEC licensed entity RoboForex (CY) Ltd.
Andrey Goilov from RoboForex stated:
The cryptocurrency market is madly volatile and this attracts traders’ attention from all over the world. It is the number of positions involving cryptocurrency instruments that has been increased by our clients over the course of the past several months. The increased leverage value will allow to decrease margin requirements and help them to both increase the number of their trading operations and expand the list of the trading strategies.