NordFX: An All-In-One Traditional Forex Broker and Crypto-Exchange

[Goodcat49]

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.

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. In this case, however, the spreads are much lower. For instance, for the BTCUSD 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.

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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. 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.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/nordfx-all-in-one-traditional-forex-broker-and-crypto-exchange/