Press Release – Crypto Broker: CySEC & MiFID Regulated NordFX (Since 2008) Is Now Also a Crypto Broker

NordFX

(PR) MetaTrader 4 has been transformed into a professional crypto exchange, thanks to the MTEX trading system developed by NordFX professionals. This is alongside its previous functionality for trading traditional currencies and metals on the Forex market.

Innovation

Bringing together innovations in finance and IT, NordFX continues to actively expand the roster of services it offers to enhance the profitability of clients’ trading and investment. In this spirit, just a few weeks ago NordFX announced the creation of RAMM-service—a unique platform for auto-copying trading signals whilst controlling risk levels.

Yet another innovative solution is the possibility of using the well-known MetaTrader 4 terminal as an exchange for cryptocurrency trading. This new solution developed by NordFX experts is a peer-to-peer trading system based on an exchange-style framework in which clients trade exclusively with each other, with orders being executed immediately at the best prices provided by other participants. Just as in a cryptocurrency exchange, spreads are set by the market.

Regulation

NordFX CY is regulated by CySEC under license number 209/13 to freely provide investment and ancillary services and  / or perform investment activities in accordance to the Investment Services and Activities and Regulated Markets Law of 2007 to 2012 (Law144(I)/2007).

Low Spreads

In this case, however, the spreads are much lower. For instance, for the BTC/USD pair spreads have fallen from $25-30 per lot to $5-6. The Taker commission has also fallen to become the lowest in the market. When it comes to Maker commissions for limit orders creating liquidity, this is now paid to the trader rather than the broker.

This allows traders to make money from commissions, on top of that made on differences in buy/sell prices. NordFX margin requirements remain quite low. For example, opening a position for 1 BTC (1 lot) will require only $300, which represents a leverage ratio of approximately 1:20 at current bitcoin prices. For ETH (Ethereum) the margin will be $30 per lot, whilst for XRP (ripple) it will be $0.06.

Crypto Accounts

The account specification page on the NordFX website contains details on the margin requirements for other pairs and indices. Currently, 14 of the most popular cryptocurrencies quoted in USD terms are available for trading, as are 4 crypto-indices, namely TOP14CRYPT, TOP5CRYPT, 10ALT, and TOP3ALT. These contain various cryptocurrency groupings in different proportions.

NordFX clients are offered three types of accounts – Fix, Pro and Zero. Each of them allows one to combine cryptocurrency pair and index trading with operations concerning of traditional currencies and precious metals. Thus, traders have additional capacity to develop unique strategies, to reduce trading risks and maximize profit.

Deposit / Withdraw

You can deposit and withdraw funds from accounts using USD, BTC, and ETH. In addition to US Dollars, accounts can also be denominated in bitcoin and Ethereum. The list of cryptocurrency wallets is set to be expanded in the future.

 

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This is a press release