March 2018 21

TeleTrade enables its clients to execute transactions in the Forex market using their cryptocurrency trading accounts

As of March 21, 2018, TeleTrade enables all its clients to execute transactions in Forex and CFD by using their cryptocurrency trading accounts. At the early stage, such trading account will be available only in Bitcoins, and a Client may open it via their Client Login.

To make transactions convenient and transparent on a cryptocurrency account, it is established to use a trading account unit expressed in microbitcoin (uBT) in order to ensure all calculations carried out on the trading platform are accurate to Satochi, i.e. the smallest possible bitcoin unit (1 BTC = 1 000 000 uBT, 1 uBT = 100 Satochi).

The Trading Conditions for cryptocurrency account holders are identical to those envisaged for any other clients.

Trading accounts in cryptocurrencies have certain individual features in regards to deposit / withdrawal of funds:

  • Deposit is only available by using a Bitcoin wallet;
  • Withdrawal is only available by withdrawing to your Bitcoin wallet;
  • Transfers between your trading accounts that imply conversion from cryptocurrencies into other currencies are not available.

«TeleTrade considers the cruptocurrency market to be a prospective direction to continue the development not only in terms of trading instruments but also units of account, which can be used for investments in the Forex market», TeleTrade Group of Companies Vice-President Dmitry Drigaylo said in a statement. «For cryptoinvestors, this is also an opportunity to make money not only on the increase in the Bitcoin rate but also on changes in the rates for Forex instruments and CFDs, such as CFD on stocks, metals, and other instruments available for TeleTrade's clients», he added.

TeleTrade will keep on elaborating possibilities for its clients to make investments and is planning to soon introduce trading accounts in other cryptocurrencies to execute transactions in the Forex market.