Major Russian FX Broker Alpari Launches Bitcoin Trading Pairs
Alpari Group, Russia’s largest native forex broker, has joined growing list of international derivatives markets that offer cryptocurrency trading products announcing the launch of two bitcoin trading pairs, with the company now offering BTC/USD and BTC/EUR CFDs to traders.
Alpari is the biggest online brokerage in Russia and one of the top trendsetters in the industry as it was first to introduce new trading methods for the business such as PAMM. Its adoption of Bitcoin as a trading instrument is another indication of the direction that the online trading industry is marching toward.
“Bitcoin’s market cap has already surpassed 41 billion USD, which is higher than that of several countries across Europe, Central America and Africa. There are currently about 16.4 million bitcoins in circulation and only 21 million will ever be produced in total. Every year, the process of generating bitcoins (mining) gets more and more difficult. This is because the algorithm involved makes the process more complicated and time-consuming. This could eventually lead to a deficit of bitcoins, meaning a further increase in its value,” Alpari said in a statement.
The company believes, now is the perfect time to enter the market and start trading on these instruments.
Alpari Group was founded in 1998, and since 2014 the company has been recognized as the largest Russian FX broker based upon monthly turnover and number of clients.
Last month HYCM, a broker that offers a forex and CFDs trading environment to both retail and institutional investors, announced that its clients will be able to trade the BTC/USD pair. The brokerage is part of the Henyep Capital Markets Group, regulated by the Financial Conduct Authority (FCA) in the United Kingdom, the Dubai Financial Service Authority (DFSA), and the Cyprus Securities and Exchange Commission (CySEC).
Other online FX brokers offering cryptocurrency trading include eToro, Plus500, AvaTrade, FXOpen, XTB, Ayondo, JFD Brokers, Markets.com, InstaForex and IG, among many others.