With the rise in crypto trading globally, many people are inclined towards investing in cryptocurrencies; after all they offer traders high potential returns. Luckily Forex.com has introduced Forex.com crypto trading. The cryptocurrencies available to trade on the platform are Bitcoin, Ethereum, Litecoin, and Ripple. The Forex.com bitcoin trading option has attracted many crypto investors to register accounts with Forex.com.
In fact, if you’re seeking a cost-effective way to trade crypto while managing your risks and locking profits, Forex.com should be your go-to option. Knowing the volatile nature of cryptocurrencies, the trading platform enables users to trade crypto without owning the currency itself. In other words, you can trade crypto on CFDs with Forex.com, which means you can go long or short on a number of cryptocurrencies without dealing with digital wallets or exchanges.
This allows you to benefit from the volatile nature of cryptocurrencies. You can make a profit when crypto prices rise, and you can go short to make profit when crypto prices fall. On top of that, you get to trade on margin and don’t need to worry about exchange fees, protecting your crypto coins in digital wallets, or dealing with unprecedented risk. There are numerous tools on the platform that aim to help you minimize or manage your risk while trading as well.
If you’re interested in finding out about other top-notch trading platforms that offer crypto trading as well, you can read our Avatrade review or CMC Markets review.
Most brokers have different trading and non trading fees or charges. Thankfully Forex.com has relatively low fees when compared to other brokers. However, the fees usually depend on the asset being traded. While the fees on spread for some assets, including EUR/USD, GBP/USD, and S&P 500 CFD are low, it’s important to note that the stock CFD fees on the platform are high.
Apart from the fee on the spread, which refers to a fee applied on the difference of an asset’s buying and selling price, the broker also charges its users an inactivity fee. So, if a user does not use their account for one year at a stretch, they will be charged $15 per month. The inactivity fee isn’t much when compared to other brokers though.
The stock index CFD fees are built into the spreads, while stock CFD fees are charged via commission. Similarly, the fees for trading stock Index CFD are low and the fee for stock CFD is high.
Being regulated and licensed under tier-1 financial authorities such as the Financial Conduct Authority and the National Futures Association ensures that the broker follows several rules and adheres to strict guidelines.
Forex.com comes under the umbrella of GAIN Capital Holdings, which is a public company based in the USA that operates subsidiaries around the world; regulated by financial authorities in the U.K., Japan, Canada, Australia, and the U.S.
Out of many strict practices, primarily, the broker keeps client funds separate from Forex.com funds to ensure that even if the brokerage firm faces a loss of any sort, it does not affect their clients’ money in any way. Similarly, the account opening process requires proper verification, which is why opening an account takes up to 2 days with Forex.com.
If you’re a crypto trader, you must’ve dipped your toes in stock trading as well. If you haven’t, you might want to at some point in your life. After all, just like the forex.com cryptocurrency trading option, other trading options on the platform can prove to be profitable as well. While crypto trading is still a new concept, stock trading has been around for centuries, and Forex.com has been offering numerous stock trading options since 2001.
What makes Forex.com unique is that the platform offers numerous trading options under one roof. Users can register an account and trade cryptocurrencies, forex, equities, commodities, indices, bonds, ETFs, industry sectors, gold & silver (unleveraged in the U.S.), and futures (through an affiliate) through a single account on Forex.com’s online trading platform.
The trading platform also offers CFDs on numerous products. Users can access currency pair CFDs, stock index CFDs, stock CFDs, ETF CFDs, commodity CFDs, and crypto CFDs.
Disclaimer: Due to leverage, CFDs are known for being high-risk instruments. Over 2/3rd of CFD trades end up in a loss, so before you jump into trading CFDs, make sure you’re willing to face the risk that tags along.
There are numerous tools on the platform that aim towards minimizing the risk that tags along with different trading instruments, especially CFDs. The tools on the platform include an interactive chart, trading ideas from experts, and high-quality market reports.