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Forex binary options and contracts for difference (CFDs) broker Grand Capital said on Thursday it has started accepting deposits and allowing withdrawals in Bitcoins. Deposit transfers in the digital currencies can be made through e-payment system OKPay.
There will be no commission fees for traders who transfer Bitcoins. Earlier this month, the broker started compensating all commissions for withdrawals via e-payment systems, while clients using bank wires and bank card withdrawals now pay lower commission fees if they take part in the broker’s loyalty program PayBack.
Cyprus-based OKPay is a regular e-wallet network that allows money transfers in 21 currencies in more than 200 countries.
Bitcoin is a type of crypto-currency introduced in 2009. Although there are hundreds of other crypto-currencies, Bitcoins account for more than 90% of the virtual currency market. There are about 15.4 million Bitcoins circulating out there and their market cap is estimated at about $6.4 billion.
The problem with virtual currencies is that just a few legislations, if any, have rules that define them and set regulations on them. Basically, there is no control over this type of currencies. Recently, however, many countries, including Japan and Russia, and the EU, announced they are working on setting up a set of regulatory amendments regarding crypto-currencies.
Grand Capital has joined the list of brokers that accept Bitcoins, which has been expanding. Other forex brokers that accept Bitcoin deposits are FX Choice, FXOpen, TradingForex, and TradersWay.
Besides Bitcoins via OKPay, Grand Capital’s clients can chose to withdraw or deposit funds from and to their trading accounts from a wide range of other payment systems. Such of these are Neteller, FasaPay, WebMoney, UnionPay, Yandex.Money, Skrill, as well as bank transfers and bank cards, Western Union and MoneyGram.
Grand Capital is based and incorporated in the Seychelles and has offices across Europe and Asia. It is a member of Russia’s Center for Regulation in OTC Financial Instruments and Technologies (CRFIN), a Russian self-regulatory organization, and the Financial Commission (FinaCom), a Hong Kong-based external dispute resolution (EDR) organization.
The broker provides financial, educational and brokerage services and offers trading in forex, binary options and CFDs on stocks, gold, oil, lumber and forex instruments. It provides a few different programs for affiliate partners.
Source: Grand Capital