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.
Karthik Subramanian
Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.
