LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Initially Bitcoin will be added as a CFD, later STP will be available
Leading forex platform provider Leverate has just announced in a press release that it will be supporting Bitcoin trading in its Sirix series of products for forex and CFD brokers. According to the company the introduction of Bitcoin support was customer demand-driven, confirming that the crypto-currency has a lot of potential as a trading vehicle.
Initially Bitcoin will be offered under a CFD virtual trading model while later on the company plans to provide STP opportunities. The company’s VP of products Itai Damti stated that they believe that digital currencies are the future and Bitcoin might just be the first one that they offer.
The company has made thorough research before making this product available and will advise all willing brokerages as to how can they implement best their Bitcoin solution. Mr Damti proceeded to say that offering the digital currency can be a challenging task for brokerages who have no previous experience in this market and will need most likely need to set special margin requirements and strict trading conditions.
All of this is associated with the crazy volatility that sometimes surrounds the dealings in Bitcoin and according to the company it is easy for a broker to get overexposed with an asset having 8 times more volatility than Gold and seven times more than Silver.
The product will be offered through LXFeed which is a component of LXSuite – the private label brokerage solution offered by Leverate that or separately as a standalone product. For more information go to the Leverate’s website.
The full text of the press release follows:
Leverate Answers Client Demand to Support Bitcoin
December 10, 2013 – Leverate announces that Sirix now supports Bitcoin trading. The digital currency was to the long list of instruments that the Forex & CFD retail front end already supports. Bitcoin was added due its potential as a trading vehicle, as well as its growing popularity with traders.
“Leverate believes that decentralized currencies such as Bitcoin are the future of the market. We plan to start with Bitcoin/Dollar (BTNUSD), and we will keep on adding new digital currency alternatives as demand increases,” said Itai Damti, Leverate’s VP of Products. “While Leverate is initially offering Bitcoin using a CFD virtual trading model, we will eventually add STP Bitcoin opportunities.”
Leverate has thoroughly researched the best policies for brokers who wish to add Bitcoin to their list of instruments, and provides assistance in selecting the most lucrative trading terms and leverage because, as Itai Damti cautions, “offering Bitcoin can be challenging for a broker without previous experience in digital currencies.” The main risk is possible overexposure caused by price fluctuations, with Bitcoin having eight times more volatility than Gold, and seven times more volatility than Silver.
Bitcoin is offered through LXFeed, an integral component of LXSuite, Leverate’s turn-key complete package of private label brokerage solutions. Brokers can customize instruments offered through LXFeed to meet the demands of their specific traders. Leverate also offers LXFeed as a standalone product. More information on LXFeed and other components of LXSuite may be found at lxsuite.leverate.com or by contacting Leverate Sales Consultants at +44-20-88168970.
Leverate is the vanguard of broker solutions technology and services empowering Forex brokers and financial institutions with the tools to increase conversion, minimise risk and reach new markets. Leverate’s cutting-edge solutions, powered by breakthrough technology, provide market players a comprehensive suite of products to operate the most successful and competitive brokerages in the Forex industry.
Forex Industry Report