Best Bitcoin Forex Broker – FX Choice
FX Choice have been awarded the best Bitcoin forex broker award.
FX Choice are a forex broker known for their innovation in the online forex trading industry and the step into the world of bitcoin forex trading is testament to this fact. They’ve been operating since 2006 and now have a presence all over the globe. Created as a partnership of both experts in eCommerce and financial professionals with a financial markets and trading background, FX Choice have perfected the online forex trading experience for their clients.
The vision of FX Choice is to stay committed to empowering people to have the confidence in their infrastructure and operations, to reliably trade forex. Clients of FX Choice know that they are supported by industry leading, personal customer service by employees with true integrity. Something you can’t always say when you’re dealing with forex brokers, for example from loosely regulated jurisdictions.
Not only a forex broker with a customer focused vision, but also FX Choice are a company who are dedicated to a set of core values. These core values define the relationships that they forge with both the traders on their book and partners such as forex affiliates. A company that is guided by their values is always something to be respected.
What is Bitcoin?
Bitcoin was created in 2009 as an anonymous and secure way of exchanging money on the internet.
It is an electronic currency that is completely decentralized. This means that it isn’t backed by a government or other central authority such as a central bank banks fiat currency. Bitcoin is instead minted and exchanged entirely within a massive network of users.
As a result of this, anyone with an internet connection can send and receive Bitcoins directly and privately with no transaction fees.
New Bitcoins are created with highly time-intensive computer-based algorithms which limits the rate at which they enter the market. The total amount of Bitcoins that will ever be issued is 21 million.
This makes it a finite commodity just like gold or oil and can be traded via CFD as such.
What is a Bitcoin CFD?
FX Choice is a bitcoin forex broker that offers Bitcoin trading through a CFD on their MT4 platform.
With bitcoin CFDs you can profit from both a rising and a falling price in the cryptocurrency. If you buy bitcoin CFDs and the price goes up, you make money. If it goes down, you lose money. Likewise, if you short bitcoin and the price goes down, you make money. If the price goes up, you lose money.
A major flaw of the bitcoin CFD contract is the inability to trade them during the weekend. Bitcoin trading is completely decentralized and doesn’t rely on a network of banks for executing trades thus there is no set open and closing time. Unlike forex which trades 24/5, bitcoin trades 24/7. There isn’t yet support for weekend trading at FX Choice.
As a result of its innovative structure and the hype surrounding it, Bitcoin is extremely volatile, making it an excellent market to include within your forex trading portfolio.
Open an account with bitcoin forex broker FX Choice, using the buttons above today!