Belize based, online retail Fx brokerage unit, RoboForex has launched an extremely high leverage product relating to the cryptocurrencies. RoboForex has announced leverage of up to 1:50 for clients involved in cryptocurrency trading. This launch comes amidst when the whole fx industry across the European Union is grappling with reduced leverage on the account of the new regulatory crackdown.
For an asset class which is extremely volatile, the risk to clients and the brokers are immense. According to RoboForex, starting September 1st 2018, clients will enjoy the increased leverage while trading in cryptocurrencies. The new leverage value is available to clients trading on MT4, MT5 and R Trader and will be available for seven cryptocurrencies including Bitcoin, Bitcoin Cash, Dash, EOS, Ethereum, Litecoin, and Ripple. The changes will be applicable to both already open and newly opening positions in cryptocurrencies.
Earlier, the maximum leverage on cryptocurrencies ranges somewhere between 1:1 to 1:10 depending on the account type. RoboForex has stated that it is expanding its services and improving the trading experience for clients. Earlier this year, the company had launched Bitcoin as a base currency.
Denis Golomedov, Chief Marketing Officer at RoboForex, commented:
“Many of our clients trade cryptocurrencies. It’s really important for them to cooperate with the broker, which provides the most comfortable trading conditions and highest security level when they trade these instruments. The increased leverage will allow our clients to implement a wider range of trading strategies and significantly increase their trading volume.”
RoboForex is an IFSC regulated brokerage entity offering fx and crypto trading services on a worldwide basis. The company offers access to proprietary trading platforms to traders who work on financial markets.