Cryptocurrency Trading

As with other markets, cryptocurrencies are never risk-free. There is equal potential to make a profit or a loss. But this shouldn't put you off trading crypto. As long as you know the risks and you have a plan, you're well placed to make crypto trading work for you.

It is worth knowing the risks that are unique to the crypto market before you invest, however:

• Digital: Cryptocurrencies exist purely in the form of digital codes. While it may feel like Bitcoin is a tangible asset to possess, this is not the case. The foundation of these currencies is in a database called blockchain. Encryption offers a significant amount of security, but, as with anything related to digital platforms, there is a risk of hacking and security breaches.
• Regulation: The unprecedented success of cryptocurrencies has been so rapid that regulation has failed to keep pace. As many countries don't regulate their use or consider them to be legal tender, it makes it difficult to know how to proceed should issues arise. The FCA, which FXOpen UK is regulated by, states that crypto products are only suitable for professional clients – not retail clients.
• Volatility: The crypto market is a particularly volatile market for traders to invest in. The change in price from one moment to the next can be sudden and dramatic. Your profits can be magnified but so, too, can your losses.

Yes, there are different types of cryptocurrencies. While Bitcoin is among the top traded cryptocurrencies in the world, there are more to be aware of.

There are differences between each cryptocurrency. Bitcoin and Litecoin provide a digital alternative to fiat – or payment – currencies, while other types, like Ethereum, are 'altcoins'. Rather than being used to pay for things, altcoins are 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

The volatility is a huge draw for traders. Price changes can be sudden and unexpected. These rapid ups and downs can offer big gains on an initial investment. It does, however, mean that the lows mirror these highs, increasing the risk involved.

Liquidity is another huge draw for traders. Our crypto trading platform takes its prices from numerous exchanges. As such, we provide an overview of the crypto exchange market share and can offer competitive spreads and quick execution. For traders looking for rapid gains, that can make all the difference.
An FXOpen cryptocurrency trading account gives you access to the markets all day, every day. With the MT4 platform, you can do that on any device and from any location too. So, whether you’re embarking on crypto trading from your home in Hong Kong or you’re on the go, you can always access your account.

The factors that can influence the crypto market include:

• Supply and demand: Cryptocurrency prices can rise sharply if demand outstrips supply. If there is a surplus supply, the price will fall.
• Regulatory decisions: Countries are still ironing out how to regulate crypto. Some are banning it outright, which is something to be aware of.
• Fiat currency markets: Fiat currencies can 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: As crypto integrates with more payment systems, its value will increase.

The most successful crypto traders understand how crypto works and what they're trading. Having a strategy that sets out what you want to achieve and the best way to achieve it means you're best placed to make a profit.

After opening your cryptocurrency trading account with FXOpen, you can begin as a crypto trader. There is a range of tools and analysis at your fingertips, so you have the best information to hand before deciding on the trades you want to make. You might want to capitalise on a booming cryptocurrency. Or you could be simply looking for a quick return. With us, you'll find what you’re looking for.

Other factors that can help you succeed in the crypto market include how you time your trades and how you keep track of your open positions.

When you use our cryptocurrency trading app, there's a small commission to pay as you open and close positions. FXOpen's 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.

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.

We’re here if you need further support. Contact us if you have any queries. Our live chat service is open from 1pm to 1am Hong Kong time, five days a week too.