BTC-e Expands MetaTrader 4 Offering with Fiat Denominated Accounts

Working together, bitcoin trading exchange BTC-e and online forex broker FXOpen have collaborated to provide customers of each firm cryptocurrency trading on the MetaTrader 4 (MT4) MetaTrader 4 (MT4) MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors. Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.MT4 is widely used in the online retail foreign exchange space by traders. The software is licensed to FXbrokers who provide the software to their clients and consists MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors. Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.MT4 is widely used in the online retail foreign exchange space by traders. The software is licensed to FXbrokers who provide the software to their clients and consists Read this Term) platform. Having an installed base of millions of users among major online brokers such as Alpari, FXCM, and Forex.com, the MT4 offering from both FXOpen and BTC-e provides for many a well-known interface for trading bitcoins and other crytocurrencies such as namecoin and litecoin.

Expanding their offering, FXOpen announced in the beginning of May that it was adding the ability for account holders to trade Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term with bitcoin and litecoin denominated accounts in addition to existing selection of fiat based accounts. Now it is BTC-e’s turn, as the exchange has announced that it is adding fiat based MT4 denominated accounts to what initially had only been offered in cryptocurrency denominations. Being added are British pound, euro, Russian ruble, and Chinese yuan accounts. The accounts add to existing bitcoin, litecoin, namecoin and US dollar denominations.

According to BTC-e the believe that a benefit of the multiple denomination of accounts is the ability to reduce costs, as for example a depositor in rubles and euros no longer will need to convert to accepted base currency before trading. In addition, they stated that users can open multiple accounts in each currency type.