4 Reasons Why Your FX Broker Should Offer Cryptocurrency Trading
As of this writing, Bitcoin is dominating the headlines due to its rapid rise in value since the beginning of the year. What’s interesting is that a long term play on traditional “safe haven” products like gold or silver would not have yielded even a fraction of the return that Bitcoin has offered so far this year.
Subject to change of course, but in our opinion Bitcoin will be dominating headlines for years to come. It’s for this reason that FX brokers should strongly consider adding in cyrptocurrency liquidity and pricing to their existing product offering. There are several advantages in doing so.
4 Reasons Why Forex Brokers Should Strongly Consider Adding Cryptocurrencies to their Product List
#1. Opportunities for Bitcoin Lovers and Haters Alike
Trading opportunities in Bitcoin exist on both sides of the camp; only those who don’t have an opinion about cryptocurrencies won’t find a reason to trade Bitcoin or other cryptocurrencies. For those who are strong believers in blockchain technology, the opportunity is clear. What’s great about markets though is that even the naysayers who don’t believe in Bitcoin also have a chance to potentially profit from their opinion: with each subsequent rise in value of Bitcoin and other cryptocurrencies, the percentage chance only increases for a market drop or correction. Savvy traders can profit from; as any seasoned trader knows, markets tend to fall faster than they rise.
#2. Target a New Client Base
Given the amount of volatility that cryptocurrencies offer, brokers can carve out a completely new niche of clients who may not be interested in forex trading or CFDs. In fact, many of those who are interested in Bitcoin, Ripple, and other crypto platforms may have never even heard of FX, which is an excellent way for brokers to potentially expand their current base of clients.
#3. Take Advantage of a New Industry Trend
Due to the current waves that Bitcoin is making, more and more traders are jumping on the opportunity to speculate in crypto-currencies. Like other market trends in the FX industry, the early adopters reap the rewards. Consider past examples such as social trading, mobile trading, and CFDs. If your broker isn’t offering cryptocurrency trading, you are already behind the pack.
#4. The Competition Offers Cryptocurrency Trading
To stay competitive, it only makes sense to keep up with what other brokers are offering. As we discussed in the second point, cryptocurrency trading will attract a new type of investor. If they come knocking at your door, it’s best to have what they are looking for.
Atomiq Consulting – Your Source for Cryptocurrency Liquidity in the Forex Market
Atomiq Consulting prides itself in staying ahead of industry trends by offering cryptocurrency liquidity for some of the most commonly sought after products such as Bitcoin, Etherium, or Wripple. Regardless of the platform you are using, be it cTrader, MT4 or a custom platform, we can easily connect our liquidity feed to your platform of choice.
To learn more about how Bitcoin trading with Atomiq Consulting works, discuss our product list in more detail, and address any other questions related to cryptocurrency liquidity, don’t hesitate to contact us today!
Have a look at some of the additional services our clients have found to be helpful in the growth of their business.