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Bitcoin trading will be available with up to 5x leverage on both AvaTrader and AvaTrade’s MT4.
Three weeks after we first broke the news that Ireland-based forex broker AvaTrade (formerly AvaFX) had launched Bitcoin trading, comes formal word from the company. AvaTrade today put out a formal press release announcing that it had hired MT4 integration specialist Gold-i in creating its Bitcoin-on-MT4 trading product. Bitcoin coin trading will also be available at AvaTrade on its standard ‘AvaTrader’.
With Bitcoin prices settling into a much more normal trading range since wild daily Bitcoin price swings of 50%+ were the norm back in April, more forex and binary options brokers are adding Bitcoin trading, feeling comfortable in their ability to manage the risk involved in Bitcoin market making.
First we saw binary option brokers, such as IG Group, add Bitcoin binary trading, as the risk for the binary broker was much easier to manage — no matter how much Bitcoin prices rose or fell, the gain/loss on a specific trade is fixed in binary trading.
However wild Bitcoin price swings were simply too much to manage for ‘straight’ BTCUSD Bitcoin trading. Until now. We’ve seen several forex brokers, such as Plus500 and now AvaTrade offer the BTCUSD Bitcoin-U.S. dollar pair. We expect to see a lot more in the coming months.
Leverage will still be kept low relative to other instruments at AvaTrade, similar to at Plus500, at 5x.