How To Trade Cryptocurrency On Metatrader 4

How to trade cryptocurrency on metatrader 4

The cryptocurrency revolution continues to unfold and the price of the first digital currency Bitcoin has hit astronomical highs in 2017. And, everyone is looking out for ways and means to ride the wave and make money.

What are Cryptocurrencies

One way of doing it is to buy Bitcoin or other cryptocurrencies like Litecoins, Etherium, or Dash and then sell them when the price is right.

The other option is to trade Bitcoins on large numbers of exchanges that have popped up in the recent times.

Those who trade Bitcoins on exchanges involve in scalping as it experiences a high level of price volatility. While some of the traders do massive volumes of trading volumes, some others exercise a great deal of caution and trade only when certain trends are observed.

Top Metatrader 4 or MT5 Brokers That Offer Bitcoin Trading

BrokerInfoBonusOpen Account
Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC
$100 No-Deposit Bonus, 100% Deposit Bonus, Lucky T-shirt, iPhone 6s PlusVisit Broker
Min Deposit: $5
Spread: From 0.2 Pips
Leverage: 500:1
Regulation: FSA (Saint Vincent and the Grenadines), CySEC
50% Deposit Bonus, Real contest 1st prize Luxury car BMW X5 M, Copy trading, Trade&Win.Visit Broker
Min Deposit: $1
Spread: From 0 Pips
Leverage: 2000:1
Regulation: FCA UK, CySEC, FSP, BaFin, CRFIN
35% of the account DepositVisit Broker
Min Deposit: $50
Spread: Starting 0 Pips
Leverage: up to 400:1
Regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
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Min Deposit: $1
Spread: Fixed Spread From 3 Pips
Leverage: Up to 1:1000
Regulation: CBR, CySEC and FFMS
30% Forex Deposit bonusVisit Broker
Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia, FCA UK
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Min Deposit: $100
Spread: Starting 0 Pips
Leverage: up to 500:1
Regulation: FCA UK, ASIC Australia, MAS Singapore
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Min Deposit: $300
Spread: floating, from 0 pips
Leverage: 500:1
Regulation: FCA UK reference number 579202
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Min Deposit: $250
Spread: as low as 0.1 pips
Leverage: up to 400:1
Regulation: ASIC Australia and FCA UK
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Min Deposit: $100
Spread: Starting From 0.9 pips
Leverage: 400:1
Regulation: MIFID, FSB & ASIC
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A few others make use of online forex platforms to trade Bitcoin against the USD or EUR or Bitcoin CFDs.

On exchanges, you will have to actually buy the digital currency.

How to trade cryptocurrency on metatrader 4

When trading on forex platforms Bitcoin is considered as an underlying asset. Therefore, you are not actually required to own the cryptocurrency. From the trader’s point of view, this is a much superior way of trading Bitcoins when compared with trading on exchanges.

Also Read : How to Trade Bitcoin on MT4 / MT5 Forex Platform

Security and Safety

Though Bitcoin exchanges present scores of options, they are unstable and are prone to scams.

The Basis of Cryptocurrency Trading

A majority of these exchanges that have come up following the launch of Bitcoin have closed down. This has resulted in many investors losing their hard earned money.

A few of these exchanges are of course reliable, but a vast majority of them are scams.

You may argue that the same things can be said about the online forex brokers as well. However, the fact is that the situation is much better as far as forex trading industry is concerned. This is because you can always choose to work only with regulated brokers.

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Such forex brokers are bound by the law to stick to certain stringent stipulations and meet capital adequacy norms. They are also required to clients’ funds in separate accounts to ensure safety and security.

Costs

In the case of online forex brokerages, all the costs related to trading are often built into the spread. The spread varies depending on volatility. In the case of Bitcoin exchanges, the spreads are usually tighter, but in addition to the spread commissions are also charged based on volume.

What is MetaTrader 4?

In many situations, the cost of trading the Bitcoin may be more or less the same.

Leverage

Leverage, which offers a lot of flexibility, gives forex brokers an advantage over exchanges. You can get a leverage of up to 1:2 or 1:3 on an exchange.

Forex brokers offer a leverage of 1:20.

How to trade cryptocurrency on metatrader 4

Some brokers may offer even more on Bitcoin trades.

Coin Variety

In this regard, the exchanges may be superior compared to online forex brokerages. However, the non-availability of coin variety is not really a cause for worry when you work with some of the best forex platform providers.

MetaTrader 4 and MetaTrader 5 Platforms

MetaTrader 4 and MetaTrader 5 trading platforms are offered by many online forex brokers.

Cryptocurrency trading

In fact, MT4 and MT5 are considered as the forex market standard. This is not just a random decision. The MetaTrader platform is technologically advanced and offers enhanced security to enable trader open and close positions without worrying about platform stability. There are several other features as well that make MetaTrader platform the best choice for forex and Bitcoin trading.

Having said this, here are some of the best Metatrader 4 and MetaTrader 5 forex brokers that offer Bitcoin trading:

#1: FBS

FBS, an international forex broker, has a presence in over 120 countries.

Top Metatrader 4 or MT5 Brokers That Offer Bitcoin Trading

The online forex company boasts of 2,000,000 traders (clients) and 130,000 partners. For Muslim traders, the broker provides swap-free or Islamic accounts.

How To Trade Bitcoin On MetaTrader - Leverage Trading

FBS was founded in 2009 and they do not offer financial services to people in the USA, Belize, and Japan.

Broker Type – ECN/STP, DMA/STP, MM
Platforms – MT4 and MT5 for Windows, iOS, Android, and WebTrader
Minimum Deposit – $5
Deposit Options – Visa/Master Card, Neteller, Skrill (7.5% commission), Webmoney, Perfectmoney, OKPAY, FBS Exchanger, Wire Transfer, YuuPay (3% commission), etc.
Cryptocurrency Trading: Bitcoin, LiteCoin, Ethereum, Dash
Maximum Leverage – 500:1
Minimum Lot Size – 0.01
Spreads – Fixed and variable
Lowest Spreads for EUR/USD – 2 pips for Mini accounts and 1 – 2 for Standard accounts

#2: XM

XM.com, a trade name of Trading Point Holdings Ltd, is owned as well as operated by Trading Point of Financial Instruments Ltd, which is regulated by CySEC.

It is also European Union-registered forex broker.

MetaTrader 4 – Forex Trading Platform & Bitcoin Cryptocurrency?

XM has its headquarters in Limassol, Cyprus.

Operational Since: 2009
FSB License Number: XM.com has applied for license
Types of Accounts: Demo, Micro, Standard and XM Zero
All EAs and Scalping Allowed – Yes
Minimum Deposit: $5
Spread: Starts from 0
Leverage: Up to 888:1
Deposit Options: Visa/Master/Maestro/UnionPay Cards, Neteller, Skrill, Webmoney, Sofort, iDeal, paysafe, Qiwi, CashU, Local Bank Transfer and Bank Wire Transfer
Cryptocurrency Trading: BTC/USD, DSH/USD, ETH/USD, LTC/USD, XRP/USD
Trading Platforms: MT4 for PC and Mac; MT4 Multiterminal, MT4 WebTrader; MT4 for Android and iPhone; MT4 for Android Tablet and iPad
Bonus: Up to $5,000

#3: FXOpen

In 2013, FXOpen launched its online trading platform.

FXOpen UK, based in London, is regulated by the Financial Conduct Authority in the UK.

Broker Type – ECN/STP
Regulation – FCA, UK
Platforms – Three versions of MT4
All EAs and Scalping Allowed – Yes
Minimum Deposit – $300
Deposit Options – Bank Wire Transfer, Credit/Debit Cards, WebMoney, Neteller, Skrill, Payza
Cryptocurrency Trading: Bitcoin, Ethereum, Litecoin, Namecoin and Peercoin against USD, GBP, or EUR; Total 24 pairs
Maximum Leverage – 500:1
Minimum Lot Size – 0.01
Spreads – Variable
Lowest Spreads for EUR/USD – Starts from 0 pips

#4: InstaForex

The brand InstaForex was launched in 2007.

Currently, the forex broker has more than 3,000,000 customers.

How to trade cryptocurrency on metatrader 4

Further, over 1,000 customers open accounts every day. They enable ECN forex trading, contracts on derivatives and other instruments.

Broker Type – ECN
Regulation – RAFMM/CRFIN
Minimum Deposit – $1
All EAs and Scalping Allowed – Yes
Deposit Options – Credit Card, Liberty Reserve, Moneybookers, PerfectMoney, QIWI, RBK Money, Webmoney, Yandex.Money, Wire Transfer
Trading Platforms – MT4, MT5, WebTrader

Maximum Leverage – 1000
Minimum Lot Size – 0.01
Spreads – Fixed/Variable
Lowest Spreads for EUR/USD – 3 pips

#5: Pepperstone

Pepperstone, an execution-only forex as well as CFD broker, provides trading solutions that cater to both veteran and novice traders.

What are the good website for bitcoin trading

Founded in 2010, the company has its headquarters located in Melbourne, Australia. The company has offices in Shanghai, China, and Dallas, USA. Pepperstone offers CFDs on Indices.

Broker Type – Electronic Communication Network/Straight Through Processing and Direct Market Access/Straight Through Processing
Regulation – Australian Securities and Investments Commission (ASIC), Financial Conduct Authority (FCA), UK
Platforms – MetaTrader4, cTrader
All EAs and Scalping Allowed – Yes
Minimum Deposit – $200
Deposit Options – Bank Wire, Debit Card, Credit Card, WebMoney, Neteller, FasaPay, Skrill, BPAY, POLi, QIWI, PayPal, UnionPay (China), etc.
Cryptocurrency Trading: BTC/USD with a leverage of 20:1
Maximum Leverage – 400:1
Minimum Lot Size – 0.01
Spreads – Variable
Lowest Spreads for EUR/USD – more than 0.5 pips for Mini and Standard; more than 0.1 pips for ECN

#6: Avatrade

AvaTrade, a pioneer in the field of online forex trading from 2006 onwards, was created for the purpose of providing great online trading experience to retail traders.

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Within a short time, AvaTrade had more than 20,000 registered customers executing over 2,000,000 trades in a month around the globe. The total value of trades surpasses $60 billion in a month.

Broker Type – Market Maker
Regulation – Australian Securities and Investments Commission (ASIC); Central Bank of
Ireland; Financial Futures Association, Japan; Financial Services Board (FSB), South Africa and Israel Securities Authority (ISA)
Platforms – MetaTrader 4, AvaTrader
Minimum Deposit – $100
Deposit Options – Bank Wire, PayPal, WebMoney, Skrill, Credit Card, Neteller, Prepaid Master Card, etc.
Cryptocurrency Trading: Instruments in BTC, ETH, Ripple, Dash, LiteCoin, Bitcoin CFDs
Maximum Leverage – 400
Minimum Lot Size – 0.05
Spreads – Fixed
Lowest Spreads for EUR/USD – 3

Spread: From 0 Pips

Leverage: 500:1

Min Deposit: $5

Regulated: ASIC, CySEC, FCA (UK), IFSC Belize

Spread: floating, from 0 pips

Leverage: 500:1

Min Deposit: $300

Regulated: FCA UK reference number 579202

Spread: From 0.2 Pips

Leverage: 500:1

Min Deposit: $5

Regulated: FSA (Saint Vincent and the Grenadines), CySEC

Spread: Starting 0 Pips

Leverage: 500:1

Min Deposit: $200

Regulated: ASIC Australia, FCA UK

Spread: Starting From 0.9 pips

Leverage: 400:1

Min Deposit: $100

Regulated: MIFID, FSB & ASIC