London, England, April 3, 2019 — As soon as CEX.IO BROKER receives its broker license from EU jurisdictions, it will become available in 28 EU countries for Live Trading. A full launch in the US and Canada is scheduled for 2020. As of now, EU, US, and Canadian users can use Demo accounts to improve their trading skills.
CEX.IO BROKER, a multinational CFD trading platform, has taken the best from traditional trading markets and added its own innovations. CFD trading, or a “Contract for Difference”, is a financial trading instrument under which no physical ownership of assets takes place. In other words, no transaction with underlying assets is made.
Building on over five years of experience in cryptocurrency trading of the CEX.IO exchange, CEX.IO BROKER is a functional trading tool that meets the needs of demanding traders from the traditional financial market as well as cryptocurrency fans.
Currently, CEX.IO BROKER supports only BTC deposits and withdrawals for customers residing in covered countries. The supported trading pairs are BTC/USD, BTC/EUR, ETH/BTC, ETH/USD, and ETH/EUR. Customers can deposit BTC directly to CEX.IO BROKER or transfer funds from a CEX.IO wallet. Deposits from a CEX.IO account are instant and commission-free.
“CEX.IO BROKER is backed by our cryptocurrency exchange, so customers can instantly purchase Bitcoin on CEX.IO and transfer it to a CFD account. After trading, verified customers can transfer BTC with the help of our crypto exchange to their external wallet. We offer customers a convenient way to start trading cryptocurrencies easily with leveraged trading opportunities via CFD instruments.” — Elaine Neal, Chief Product Officer at CEX.IO
CEX.IO BROKER combines the best features from CFD trading, margin trading, forex trading, and other multi-asset trading solutions. Customers have access to a wide range of trading options, including 1:2, 1:3, 1:5, and 1:10 leverage depending on the market and jurisdiction.
“Most importantly, we offer a familiar interface for forex traders who use the MetaTader and CTrader platforms. Among other features of our new platform, I would mention the variety of trading tools; support for popular types of orders including market, limit, stop, and OCO; the opportunity to create several accounts for the same currency; the ability to use separate accounts for different strategies; and technical analysis, including a wide range of indicators and tools for drawing visual charting effects.” — Elaine Neal, Chief Product Officer at CEX.IO
CEX.IO BROKER was developed in cooperation with Devexperts, veterans of conventional trading software. Among their projects are thinkorswim, a B2B trading platform for Alpha Capital Markets, and Gediktrader. The initial task was to create a platform that would combine margin trading with crypto trading functionality.
“Considering the ambitious task, we decided to use dxTrade, our flagship platform, so that it complies with the specifics of crypto trading. dxTrade is a multi-asset trading solution that can be adapted to a client’s existing infrastructure. The Devexperts backend is responsible for order execution, including sending out offset orders, receiving quotes via the FIX gate, and facilitating deposits and withdrawals. User onboarding and settings management are done via REST API integration.” — Michael Babushkin, CEO of Devexperts
The entire process of developing this product took about five months. It’s a complex solution that adapts most of the components from the dxTrade platform and effectively applies them to cryptocurrency trading.
Due to regulatory conditions, CEX.IO BROKER is currently available in two versions: Demo Accounts and Live Trading. Clients from covered markets can use all Live trading opportunities. Customers from the US, UK, and EU are currently able to use only Demo accounts. As soon as Live Trading is extended to additional countries, a special announcement will be made.
A multi-functional cryptocurrency exchange established in 2013, CEX.IO provides a rich variety of trading tools for Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Zcash, Dash, Ripple, Stellar, and Litecoin. These cryptocurrencies can be traded for USD, EUR, GBP, and RUB.
CEX.IO provides a variety of payment options including credit and debit cards as well as reliable and timely wire transfers. The company strives to offer the best cryptocurrency trading experience and the most convenient service to its customers. Since April 2016, CEX.IO clients have processed over 1 billion US dollars via Visa and Mastercard cards.
The CEX.IO exchange repeatedly passes PCI DSS certificate renewal to validate compliance, allowing it to process, transmit, and store credit card data.
CEX.IO is among the founders of CryptoUK, an association started by major cryptocurrency players to represent the interests of exchanges, trading platforms, intermediaries, and asset managers, among other stakeholders. CryptoUK is aimed at building cooperation with authorities in the UK, such as the FCA, to develop an appropriate operating framework for crypto businesses.
With more than 2.7 million users across the globe, CEX.IO provides stable services backed by cold cryptocurrency storage, financial viability, high security, and KYC and AML best practices. Since 2015, CEX.IO has held MSB (Money Services Business) status with FinCEN, a bureau of the US Department of the Treasury. As a registered MSB, CEX.IO has proved that the company complies with Bank Secrecy Act requirements applicable to financial institutions as well as to each of the specific requirements applicable to MSBs.
Headquartered in Munich, Germany, Devexperts was founded in 2002 and specializes in the development of financial software solutions and services for the global Capital Markets industry. Among their clients are retail and institutional brokerage houses, exchanges and buy-side firms. Devexperts are the developers of the thinkorswim platform and numerous recognized and reliable applications, with millions of individuals across the global financial sector trading daily through the use of their technology. The services from Devexperts include low-latency market data feeds, AR/VR data visualization, deep learning and market analysis.
For more information: https://devexperts.com
Peter Ivanov, Communications Officer
Press release distributed by Pressat on behalf of CEX.IO LTD, on Wednesday 3 April, 2019. For more information subscribe and follow http://www.pressat.co.uk/