We have launched our first Cryptocurrency CFD, Bitcoin (BTC/USD).
Whether the price of Bitcoin goes up or down, you can take part of the action by trading at FXCM.
You can enable the instrument on your account today by typing 'BTC/USD' into the search box on the Trading Station Symbols list window.
What is Bitcoin?
Bitcoin is a global form of digital currency. Unlike traditional currencies, which were frequently backed by gold and silver, bitcoin is based on distributed computing. While traditional currencies are printed by central banks, bitcoins are created or "mined" by distributed computer networks.
Bitcoin differs from traditional currencies is that it is decentralized, meaning that it is not controlled by any single institution. As a result, miners around the world create new units of the currency and confirm its transactions.
Why Trade BTC/USD with FXCM?
With FXCM you can open long and short BTC/USD positions and trade potential market moves in either direction.
NO CRYPTO WALLET OR COLD STORAGE
Trading FXCM’s BTC/USD CFD means that no physical delivery of Bitcoin is required and profits and losses are credited or debited to your account instantly.
LOW COST OF ENTRY
Micronized contracts allow you to place trades as small as the equivalent of 1/100th of a Bitcoin, which lowers the minimum margin required to enter a position.
TRADE BITCOIN WITH LEVERAGE1
2:1 Leverage Available. Control the position size of your choosing requiring only half the necessary funds.
BTC/USD Margin Requirements are updated shortly after market open (Sunday 18:00 ET) and then updated daily during the market break (Between 16:45 ET to 18:00 ET Daily).
BTC/USD is currently leveraged at 2:1 and the new margin requirement will be the equivalent of half the notional value of 1 contract at 5pm EST.
For example if the BTC/USD rate is 8000.00 during the market break, the Margin Requirement for one contract will be updated to $40.00 USD BTC/USD is a volatile instrument and in the event that there is a significant intraday market move, margin requirements may be updated intraday.
What happens if I have a position open on the expiration date?
Clients that hold an open position at the time of an FXCM expiration will have their positions closed at our rate during the market break.
When BTC/USD expires, all pending Entry orders and Stop/Limit orders that are associated with the expiring contract will be cancelled. To continue trading BTC/USD clients will need to re-establish another position after the expiration and reinsert Stop and Limit orders to the new open position.
Leverage: Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange with any level of leverage may not be suitable for all investors.
BTC/USD Live Spreads Widget: Dynamic live spreads are available when market is open. When market is closed and static spreads are displayed, the figures are target spreads. Spreads are variable and are subject to delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays, or for actions relying on this information.
Demo Account: Although demo accounts attempt to replicate real markets, they operate in a simulated market environment. As such, there are key differences that distinguish them from real accounts; including but not limited to, the lack of dependence on real-time market liquidity, a delay in pricing, and the availability of some products which may not be tradable on live accounts. The operational capabilities when executing orders in a demo environment may result in atypically, expedited transactions; lack of rejected orders; and/or the absence of slippage. There may be instances where margin requirements differ from those of live accounts as updates to demo accounts may not always coincide with those of real accounts.