FxNet removes Bitcoin from its trading portfolio

FxNet removes Bitcoin from its trading portfolio


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The Cyprus-regulated forex broker FxNet announced it is removing Bitcoin from its list of trading instruments, effective March 29. The most popular cryptocurrency has been listed under the category CFDs on Shares and will be available for closing until all open positions are closed.

In spite the yet unclear regulation regarding Bitcoin – whether it is a currency or a commodity, many forex brokers across the world offer trading in Bitcoin. Among them are Plus500, AvaTrade, eToro, FxOpen, etc. At the same time other brokers, such as Grand Capital, are accepting Bitcoin as payment.

FxNet was founded in 2012 in Cyprus and is regulated by the local watchdog, the Cyprus Securities and Exchange Commission (CySEC), thus having a license to operate throughout the EU. It offers trading in forex, commodities, CFDs on shares and equity indices. It offers three types of trading accounts, plus demo and Islamic account. The minimum deposit is $50 and the leverage is up to 1:500. Trading can be done on the MetaTrader 4 platform. It has introducing broker and white label programs and offers educational material.

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