easyMarkets focus on providing better trading conditions for Crypto traders.
easyMarkets is constantly working towards offering even more attractive and competitive trading conditions to the clients and recently they have lowered spreads on Ripple and Ethereum.
|Instruments||VIP Account||Premium Account||Standard Account|
|45 USD||50 USD||55 USD|
|0.0080 USD||0.0090 USD||0.0100 USD|
|5.50 USD||6.00 USD||6.50 USD|
They are also happy to inform you they have increased maximum leverage on all cryptocurrencies to 1:50*.
With easyMarkets you can trade Bitcoin in the same way you trade Forex on their user-friendly platform.
This means you are trading Bitcoin as a CFD and speculating on price movements rather than taking ownership of the actual asset.
And like all other assets you trade on the easyMarkets platform you get all the risk management tools to support you including negative balance protection, guaranteed stop loss and fixed spreads to name a few.
There are however some inherent differences between trading Forex and Bitcoin:
With Forex, volatility is usually around 1% for the extreme FX pairs or 0.5% or less for the major and more common pairs.
Bitcoin on the other hand has an average of around 10% volatility meaning that it has more trading opportunities, but then also more risk.
As a decentralized currency, Bitcoin is not impacted by monetary inflation though it does experience price-level inflation.
Government controlled fiat currencies can be manipulated as part of monetary policy to offset a nation’s public debt, control interest rates and overall economic health.
As the number of Bitcoins is limited to 21 million, once all Bitcoins are distributed there are no new ones are to be mined making it mostly immune to monetary inflation or debasement.
3. Price Analysis
While technical analysis is similar for forex and Bitcoin, there are less fundamentals to watch for with Bitcoin.
A Forex trader needs to keep an eye on political, economic and general world event news, in fact even the weather! With Bitcoin, the only news a trader needs to really focus on is Bitcoin news itself.
4. Demand and Supply
Both Bitcoin and forex are subject to the laws of demand and supply but there are subtle differences.
As mentioned above, a centralized fiat currency’s value is controlled by the government – if not directly like in instances like China, then indirectly through monetary policy settings.
The demand for Bitcoin is determined by other factors including public acceptance and confidence, and marketplace emergence.
As more companies like Amazon accept Bitcoin as a form of payment or the NASDAQ adopt blockchain, the more the demand for Bitcoin will increase.