Cryptocurrency Trading in the UAE
FXOpen: The expert cryptocurrency trading platform
Important: Cryptocurrency trading via CFDs is only available to our professional clients. To find out more information about how this may affect you, please get in touch with our team.
Advantages of cryptocurrency trading in the UAE with FXOpen
Trade cryptocurrency CFDs at FXOpen with up to 1:2 leverage.
One platform with multiple instruments and markets
Build your portfolio any way you choose. In addition to the crypto market, our dynamic platform enables you to trade forex, indices, commodities, and share CFDs in one single place.
Your investment is fully safe and secure
We're fully authorised and regulated by the UK's Financial Conduct Authority, so all clients worldwide can have complete trust in the security of their deposits.
Invest in cryptocurrencies straight off the charts
With our crypto trading platform, you can place three types of order: market, limit, and stop. It's all due to the multiple manual trading options that we offer to all our crypto traders.
Automatic crypto trading with ready-to-go scripts
Download and use ready-made scripts for automated cryptocurrency trading. You can also create your own scripts and ensure trades are made when and how you want them to be.
Insights and analysis to inform your decisions
We want you to be confident in your crypto trading. That's why we provide more than 50 built-in indicators and graphic tools for the insights, market news, and analysis you need.
Your introduction to cryptocurrency trading
The growing popularity of Bitcoin and other cryptocurrencies has created new and exciting opportunities. Using CFDs, traders can take a position on price movements in the crypto market – all without owning the underlying asset.
As with forex, there are numerous cryptocurrency pairs to trade using CFDs. These digital currencies aren't considered to be legal tender compared to government-issued fiat currencies. Crypto is, however, changing the trading landscape. And you can invest with leverage now.
How to trade cryptocurrency using CFDs
As is the case on the forex markets, cryptocurrency trading is done in pairs. The basic principle of a CFD is that you are agreeing to exchange the difference in the price of a cryptocurrency between your opening and closing positions.
Traders taking up a long position will make a profit if the value of the cryptocurrency rises. In a short position, profits will be made if the cryptocurrency’s value falls. Our crypto trading platform gives you the freedom to control your actions or automated orders at all times.
Here's an example of how to trade cryptocurrency as a CFD:
Becoming a crypto trader in the UAE with FXOpen: What you need to know
One of the unique features of the crypto market is its volatility, which can be extreme. Trading with leverage in markets of this nature means that your losses may be rapid. In order to safeguard your portfolio, it’s important to never risk more than you can afford to lose.
It is also crucial to be clear on how both the crypto market and CFDs work. You can check out the FXOpen Knowledge Base for more information and insight.
The crypto trading platform for expert traders
At FXOpen, our unique price aggregation makes us one of the best cryptocurrency trading platforms for expert traders. Our Electronic Communication Network (ECN) accounts deliver the most cost-effective form of trading and offer access to the most favourable market conditions.
We have Expert Advisors on hand to support crypto traders in the UAE, while scalping and hedging are also possible thanks to our ECN technology. Please don’t hesitate to get in touch with us if you'd like to find out more.
Features of our crypto trading platform include:
- Floating spreads
- 1:2 leverage
- 30% margin call
- 24/7 trading time
- 0.01 lot minimum transaction size (no maximum)
With FXOpen, your trading won't be restricted to just one instrument. When you open an account you can diversify your portfolio as you see fit. As well as crypto markets, we offer trading opportunities in forex, stocks and shares, global indices and commodities.
FXOpen puts you in control of your cryptocurrency trading. And you can get started today.
How safe is cryptocurrency trading?
The crypto market is never risk-free. The opportunity to make a profit is equalled by the potential to make a loss. But this in itself shouldn't put you off trading crypto in the UAE. As long as you’re aware of the risks, you can make cryptocurrency trading work for you.
It's worth bearing in mind that there are some risks that are unique to the crypto market.
- Digital: Cryptocurrencies exist solely in the form of digital codes and there are no tangible assets to own. The foundation of these currencies are types of database called blockchain. Encryption offers a significant amount of protection, but security threats remain.
- Regulation: As crypto trading grows in popularity, regulation has struggled to keep pace. Many countries don't regulate their use or consider them to be legal tender. In the UK, the FCA has deemed crypto products as being only suitable for professional clients – not retail clients.
- Volatility: The crypto market is arguably the most volatile market and fluctuations in price from one moment to the next can be sudden and dramatic. This can magnify your profits, but it can also have the same effect on your losses.
Are there different types of cryptocurrencies?
The likes of Bitcoin and Litecoin provide a digital alternative to fiat – or payment – currencies. Others, such as Ethereum, are 'altcoins'. Rather than being used as a way to pay for things, it's a platform on which you can create blockchain apps or new tokens.
Other cryptocurrency types can help users exchange crypto assets or manage personal data.
With FXOpen, you can trade more than 40 cryptocurrency CFDs. Bitcoin and other options such as Litecoin or Ethereum are perhaps the best known, but our crypto trading platform also offers pairs including EOS, Ripple (XRP), and Dash.
Open a crypto trader account
Why start trading the crypto market?
Traders are increasingly looking towards the crypto market due to is the volatility. Fluctuations can be sudden and dramatic, offering the chance to make big gains on an initial investment. It does, however, mean there is an increased risk.
Liquidity is another reason to trade crypto with FXOpen using CFDs. Our crypto trading platform takes its prices from numerous exchanges. As such, we can offer competitive spreads and quick execution. For traders looking for rapid gains, that can make all the difference.
Don't forget, as a crypto trader in the UAE with FXOpen, you can access the markets all day, every day. With the MT4 platform, you can do that on any device and from any location too.
Trading the crypto market: Factors to watch out for
No market is immune to internal and external forces. The factors that can influence the crypto market include:
- Supply and demand: The price of cryptocurrency can rise sharply if demand outstrips supply. If there is a surplus supply, the price will fall.
- Regulatory decisions: Countries are still grappling with how to regulate crypto. Some are even banning it outright.
- Fiat currency markets: Much like some fiat currencies can impact the value of others, they can also drive the price of crypto up or down.
- Press and media: News reports can heavily influence confidence in crypto, whether it's positive or negative.
- Technology and infrastructure: It's not all about the security of crypto exchanges. As crypto integrates with more payment systems, its value will increase.
Make crypto trading work for you with FXOpen
The most successful crypto traders understand what they're trading and how it works. It's essential to have a strategy that sets out what you want to achieve and the best way to reach those objectives. By having a plan in place, you're well-placed to make a profit.
After opening your cryptocurrency trading account, it's time to choose the trades you want to make. With a range of tools and features at your fingertips, you'll have the best information to hand. You might look to capitalise on a booming cryptocurrency, or you could be simply looking for quick-return opportunities. With us, you'll find them.
Other factors that can help you succeed as a crypto trader in the UAE include the timing of your transactions and keeping track of your current open positions. You should always be 100% sure what your current exposure is. Otherwise, a small loss could soon start to accumulate.
How much does it cost to trade crypto?
With our cryptocurrency trading app, there's a small commission to pay as you open and close positions. Our commissions are 0.5% half-turn, with a minimum 0.01 lot transaction size.
For more details, consult our Knowledge Base.
A swap charge is applied on crypto trading accounts for clients who move their positions to the next trading session. This is 10% per annum of the value of the open position.
At FXOpen, we're always here if you need further support – feel free to contact us with any queries or concerns you have. Our live chat service is open from 6am to 6pm, five days a week too.