Crypto Exchange for Forex Brokers

  • October 12, 2021
  • Jennifer Moore
Crypto Exchange for Forex Brokers

Recent global trends indicate overwhelming popularity and adoption of cryptocurrency in all corners. Traders are shifting towards crypto due to its intrinsic advantages, along with lower transaction fees. A lot of Forex features can be utilized in a forex-integrated crypto trading exchange– maximizing chances of profit-making and future growth.

Facts and Stats: Present Crypto Trading Scenario

Cryptocurrency has grown exponentially over the past decade- there are over 5000 digital asset options and over 300 crypto exchanges. Initially built on a decentralized blockchain network, the modern-day crypto has evolved and branched out to include centralized exchanges. The total worldwide cryptocurrency market capitalization has scaled over USD 2.19 trillion exceeding the world’s eighth-largest economy by GDP. Bitcoin alone has a market cap of almost USD 1 trillion. 

These facts are impressive, but still much lower than forex. With daily turnovers exceeding $6.6 trillion dollars, forex is the world’s largest market by trade volumes, liquidity, and valuation. Being a much older market, it does not experience the abrupt highs and lows of a traditional crypto market. The pairing concepts in crypto trading have been borrowed from the forex market, where 7 currency pairs constitute 68% of trade volumes. There are around 170 available currencies in the trade markets which are open 24 hours each day. Combining all of these together, investors get the best of both the world with a crypto-integrated forex platform. 

Bitcoin Forex Trading Platform

Bitcoins and other cryptocurrencies are considered digital assets whose valuation can appreciate or depreciate at any point in time. El Salvador began accepting Bitcoin as legal tender. Finance regulatory boards in several nations are in their final stages of confirmations, including Australia. The crypto industry growth has resulted in a multi-billion dollar opportunity which is too good to ignore. However, as any finance professional would suggest, gathering intel is crucial- particularly about the operations and the charges incurred.

Global crypto exchanges like PayBitoPro offer crypto trading services paired with the US Dollar. The renowned world institute has a state-of-the-art trading platform, with high security, low commission fees, and several other features. Compared to the forex market, bitcoin and other cryptos are not too susceptible to international political events, or to the whims of central government banks. Rather, the valuation is linked to crypto ecosystem fundamentals. 

Forex brokers around the world have begun to offer crypto trading services on their trading platforms. The system is usually a bit different than the conventional spot desk- forex dealing. Crypto assets work differently. Most of them permit their users to trade in crypto assets through existing cryptocurrency exchanges. At present, investors prefer the crypto trade paired with their national currencies.

Also Read: PayBitoPro Builds Crypto Exchange Technology for Forex Broker Firm

Similarities Between Crypto Markets and Forex Markets

There are quite a lot of similarities between crypto and forex trading. Both require a trading account, stable internet, and a computer/laptop/smartphone. A trader with experience in either crypto or forex can easily make a switch to the other. And yes, both are open 24 hours a day, 7 days a week.  

The trade fundamentals are also similar between cryptocurrencies and forex. Both are driven by the supply and demand balance chain. Prices soar when there is a higher number of buyers than available sellers. Likewise, an overwhelming majority of sellers reduce valuation. Trading charts are available for the trader’s benefit and understanding. Trade executions get carried swiftly- thus no unnecessary wait time. 

Benefits of a Forex Integrated Crypto Exchange

A significant contributing factor to the popularity of bitcoin among forex traders is anonymity. Bitcoin runs on a completely decentralized network- making it almost impossible to track individual transactions. Let us take a further look inside the features of cryptocurrency trading:

  • Pair-Trade Options

Like forex, crypto trading also occurs in pairs. A usual crypto trade has the national currency/cryptocurrency on one side, and crypto on the other. Traders can deal using registered cryptocurrencies as well as fiat denominations.  

  • The Impact of Decentralization

Central-backed government currencies support forex trading. However, this also makes them dependent on the central bank and the government. Cryptocurrencies valuations depend solely on market valuation and are independent of national or worldwide events.

  • Better Security

Featuring the latest technology implementations, cryptocurrency exchanges provide the highest grade security. SegWit, BIP32, and other additional features provide the much-needed boost in cyber-security. 

  • Profit Potential

While not bound by any rule, the rise/fall capability of a forex option is limited. The global capital investment in each currency is huge- providing high liquidity to the forex trade. A singular massive transaction does not make much of a difference. On the other hand, cryptocurrency has a much lesser market and is thus volatile. Supply-demand metrics function differently, and a single crypto-assets can reach astronomical highs(or lows) within a single day. 

  • 24×7 Trading- Anytime, Anywhere

The crypto trading market is open for business all over the year. This makes it ideal for business. Also, with a stable internet connection, traders can operate from any corner of the world. 

  • Low Transaction Fees

Crypto trading features the lowest transaction fees- much lower than 1%. Several industries divide the transaction commission between taker fees and maker fees. Worldwide empirical studies reveal the industry average to be around 0.213% for takers and 0.16% for makers.

Also Read: 10 Reasons, Forex Brokerage Firms Need a Forex-Crypto Integrated Exchange

Crypto Forex Trading Platform

One of the highest-rated cryptocurrency exchanges worldwide, the PayBitoPro trading platform is deployed across multiple continents. It offers some of the best-in-class implementations with firebase and firewall protection. PayBitoPro features 8 security features in their basic package and an additional 3 in higher packages. Common cryptocurrency security features include two-factor authorization(SMS and Google), IP tracking, DDoS ransomware protection, secure AES 256-bit encryption, multiple wallets(both hot and cold), and more. Additional higher package features include GEO tagging and API key permission.

For forex traders, PayBitoPro offers white label cryptocurrency exchange platform solutions. The software is customizable according to client requirements. Transaction fees are also lower than the industrial average at 0.20% taker fees and 0.10% maker fees respectively.

Also Read: Top 5 Cryptocurrency Exchange Development Company

Final Thoughts

Cryptocurrency has garnered significant interest worldwide owing to its high volatility and lower transaction fees. Other standout features include 24/7 trading options like forex exchanges from any place. Forex integrated crypto exchanges are thus essential for traders dabbling both in cryptocurrencies and fiat exchange. The PayBitoPro white label crypto forex trading platform is thus an ideal option for investors looking to set up their own crypto exchanges for trading. 

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