Online forex broker PrivateFX launched on Monday trading in BTC/USD. This is the first Bitcoin (BTC) instruments the broker offers.
Following are details about the trading conditions for the BTC/USD pair
Bitcoin is a type of cryptocurrency introduced in 2009. Although there are hundreds of other cryptocurrencies, Bitcoins account for more than 90% of the virtual currency market. There are about tens of millions of Bitcoins circulating out there and their market cap is estimated to exceed $10 billion.
Trading in Bitcoin is not uncommon among forex brokers. Some that have the crytpocurrency in their product portfolio are Plus500, AvaTrade, eToro, FxOpen, JustForex, FX Choice, among others.
The PrivateFX group was set up in 2015 with the participation of the investment company Concorde Capital.The group consists of Private Innovative Society Ltd., which is based in St. Vincent and the Grenadines, and Cyprus-based Fiby Solutions Ltd. The group companies offer trading in forex and binary options via the MetaTrader 4 (MT4) trading platform, an industry leader.