Finance Administrator now offers all traders the opportunity to trade a wide range of the top ranked digital coins 24/7. Unlike other asset classes (FX, Equities, Commodities, etc.), cryptocurrencies have become well known to most investors as a popular investment option.
With Cryptocurrencies, the main purpose of this new technology is to allow people to buy, trade, and invest without the need for banks or any other financial institution, no central bank intervention, interbank dealers controlling order flow or giant pension funds moving prices. Cryptocurrencies are highly volatile and can be profitable to any trader’s portfolio. Price movements on Cryptocurrencies like Bitcoin or Ethereum are driven primarily by news and prevailing sentiment, i.e. the fear and greed of retail speculators. These sometimes dramatic shifts can lead to massive intraday price swings, making Cryptocurrency an exciting product for aggressive and experienced day traders.
The Finance Administrator Cryptocurrency CFD product allows traders to go long or short without actually holding the Cryptocurrency. This means traders can get exposure to the price of the Cryptocurrency without worrying about the security risks associated with storing it and the counterparty risk from the exchange. This is similar to trading Energy Futures such as oil rather than owning physical oil to speculate on its price.
Cryptocurrencies are not physical coins they are electronic, a digital asset that remains as data. The technology behind the cryptocurrency controls a large part of its value which holds new technology on the secure way to identify and transfer money.
The first digital coin introduced was Bitcoin and today it remains as the standard that all other coins compare themselves to. Following in its steps came Litecoin, so to date they stand as the top 2 highly valued coins on the market. There are several other coins also reaching a high-level market share such as BitcoinCash , Dash, Ripple, Ethereum and NEO.
Cryptocurrencies are virtual currencies which operate independently of banks and governments, but can still be exchanged – or speculated on – just like any physical currency. While there’s a huge number of cryptocurrencies available, we offer CFD trading on most of the popular coins such as: bitcoin, Litecoin, Dash and Ethereum.
Why trade cryptocurrencies with Finance Administrator
Finance Administrator offers competitive spreads, with low commissions charged on transactions making it more profitable. When trading with Finance Administrator you are trading on the price changes of the digital coin, and not physically purchasing it. Trading with Finance Administrator ensures that you will trade with a 100% reputable broker. More reasons to trade cryptocurrencies with Finance Administrator today are:
- Start trading with as little as $100
- Benefit from a wide range of top traded cryptocurrencies on the market
- Competitive swap rates
- All pairs can be shorted
- Around the clock service and support in multiple languages
- Live quotes and charts for your reference
- Various trading platforms for all level traders
How can I deal on cryptocurrencies?
There are two ways to deal cryptocurrencies: buy them in the hope of selling them on at a profit, or speculate on their value without owning them via CFD trading.
To trade CFDs on cryptocurrencies, you’ll need to:
Create an account
As a CFD trader, you won’t need an account with a cryptocurrency exchange, or a wallet to store your tokens. Just an account with a leverage provider.
Do your research
Cryptocurrencies may be free from many of the factors that influence traditional currencies, but you need to make sure you know your market.
Apply your strategy
Settling on a trading strategy depends on your goals and preferences, and deciding which is right for you is key to your long and short-term success.
Place a trade
Enter your position size, define your close conditions and click ‘buy’ if you think the cryptocurrency will rise in value, or ‘sell’ if you think it will fall.
Close your position
Once you’ve reached your target – or decided it’s time to cut your losses – you’ll close out your position by reversing your original action: so if you bought, you sell, and vice versa.
Keep in mind that as CFDs are leveraged products, you’ll only ever need to put down a small deposit to gain exposure to the full value of the trade. This means your capital goes further, but you also stand to lose more than your initial outlay.