Oct 20, · The U.K.’s Financial Conduct Authority (FCA) announced a ban on the sale of crypto derivatives to retail clients from January The ban will be a setback for the U.K. in maintaining its Author: Lawrence Wintermeyer. Oct 13, · ArbiSmart CIO Mike Meyers is convinced that FCA's crypto crackdown has positive implications for Bitcoin. of BitMEX's cofounders—which conveniently came just days before the FCA news—marked the downfall of the offshore exchange that enjoyed hegemonic power in the crypto derivatives market back in Oct 06, · FCA bans the public from Bitcoin and other cryptocurrency derivatives ity watchdogs today banned companies from offering the public spread betting or other derivative trading on Bitcoin .
Bitcoin trading fcaThe Best and Trusted Bitcoin Forex Brokers (Fully Regulated)
Most e-wallets require traders to verify their identity by means of bank transfers, credit cards, or other documents. On the other hand, Bitcoin account holders can access their accounts without the need to go through any identification procedure. Therefore, the anonymity associated with Bitcoin seldom works when it comes to trading currencies.
This is to say that it works only if the trader wants to trade currencies without making withdrawals. Regulators also want brokers to obtain a lot of information from their clients prior to allowing them to trade currencies. Having said this, here are some of the best regulated Bitcoin forex brokers you can consider working with:. In , FXOpen launched its online trading platform. Pepperstone, an execution-only forex as well as Australia CFD broker , provides trading solutions that cater to both veteran and novice traders.
Founded in , the company has its headquarters located in Melbourne, Australia. AvaTrade, a pioneer in the field of online forex trading from onwards, was created for the purpose of providing great online trading experience to retail traders. Within a short time, AvaTrade had more than 20, registered customers executing over 2,, trades in a month around the globe. Plus offers CFDs on shares, commodities, indices, forex, etc.
More than 4. Founded in in Tel Aviv, the multi-asset brokerage company has registered offices in Israel, the United Kingdom, and Cyprus. One of the key features of eToro is the social investment platform with Copy-Trading feature that it offers.
Spread: floating, from 0 pips. Spread: Starting 0 Pips. Pepperstone Read Review Visit Now. Spread: Starting From 0. Spread: The Spread can be as low as 0. Plus Read Review Visit Now. The decision is not indicative of the approval of investments in Bitcoin, despite the statement appearing to give off a positive sentiment regarding the cryptocurrency.
According to the BBC, Mr. Bailey and the FCA classify Bitcoin as a commodity, rather than a currency, as it is not represented by a government or a central bank of any kind. Commodities are not overseen by the FCA, and therefore setting constraints on Bitcoin would technically fall outside its legal responsibilities and jurisdiction. In order to change the current guidelines that state which assets are overseen by the FCA, parliament would have to make changes to legislation that would grant it these responsibilities.
We have already seen regulatory bodies from around the world take charge in setting restrictions around cryptocurrency trading. High volatility levels are the first indicator of a risky asset. Moreover, it is incredibly difficult if not impossible to gauge the driving force behind the pricing. Relative to traditional commodities, it becomes much more difficult to analyze the asset in a lengthy and rigorous manner that can yield trustworthy conclusions.
This differs from common commodities, such as cotton, soybeans, and coffee, where supply is altered on a continuous basis, due to varying growth rates and quantities supplied from around the world.