CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Crypto coins vs darwins

LMAX just added new cryptos this last weekend/holidays.

They now offer Bitcoin (XBT/USD), Ethereum (XET/USD), Bitnote (XBN/USD), LeviarCoin (XLC/USD) and Ripple (XRP/USD).

I think I remember on the Q&A webinar it was mentioned that if their current LP (LMAX and Saxo) added crypto assets, then they would offer them too…

They are a tradeable asset just like any other …almost :sweat_smile: Bubble is no problem when you can short, albeit riskier because of the unlimited upside

Apart from the higher trading costs and volatility, lack of liquidity at times, they represent a nice opportunity. The market is still at an immature stage which can make trading easier. Technical analysis can be particularly clean to monitor, almost kept at a beginner level sometimes

Leviar is standing at the 825th rank and cannot even find Bitnote on CoinMarketCap. Maybe they’ll expand the choice quite further :dizzy_face:

Hi!

I find almost impossible to keep track of the number of cryptocurrencies there exist. :confounded:

LMAX adding them gives us the possibility to offer them, for sure not in short term but maybe in the future.

As many other possibilities, we will study it, but we have plenty of developments and implementations already at the table :grin:

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There is so much manipulation going on at these coin exchanges (stuffing, spoofing, etc. you name it). And there is no regulation whatsoever that would prosecute the players behind this. Forex isn’t the safest place either but coin exchanges are the wild west.
It’s a hype at the moment and many people want to trade this stuff. That’s why more and more brokers start to offer it. Personally, this is nothing I would be trading at the moment (it might change in the future though).
Is there any info on how LMAX is pricing those coins?

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[quote=“KlondikeFX, post:26, topic:1987”]
Is there any info on how LMAX is pricing those coins?[/quote]
This is the central point in my opinion. Who are the LPs, and how many are there.

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I asked them and they say they obtain pricing from different liquidity providers, just like for forex, but didn’t say the specific sources.

On other news, it seems like the FCA has stated that crypto CFDs are regulated product covered under MiFID protections: https://www.fca.org.uk/news/statements/cryptocurrency-derivatives

Personally any trader who trades an asset that’s known to be manipulated and a bubble isn’t someone I would want any association with in a professional capacity. The same goes for a broker. Just my opinion.

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hi,
one of Darwinex LP.



OldSchool

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Darwinex informed last week that they are adding cryptos soon

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hi @Aimak ,
thanks, i had not seen that announcement… i’m interested on it…
OldSchool

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Oh, how nice! The crypto trading does not seem using CFDs but “real” coins

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It was commented by Javier Colón in their latest weekly podcast in Spanish

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ok
many thanks,
OldSchool

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We’ll keep you duly posted :wink:

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I hope Darwinex takes the new ESMA margin requirements for cryptos from the beginning, same with other new trading items

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hi,
just with informative goal, for those who can be interested , leave here links for other of the projects i follow with more attention…


https://exscudo.com/
OldSchool

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If making money with cryptos is so easy, I am also in!!! :innocent:

I remember my son in law told me to buy some cryptos, but I refused…so, he did it, and he won several thousands dollars in just one week or so. He just bought it, he doesn´t even trade…he heard the cryptos were booming and he bought a couple of thousands and after some days he doubled his money…good for him that he took the money fast…because some days later the market crashed…

Just a beautiful story about cryptos…:grinning:

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I don’t think there is a big difference between earning/losing a ton via the cryptos vs earning/losing a ton via extreme leveraging.

It is possible to double your money in a day with insane risk… or lose it altogether.

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I see a huge difference.

When you trade in an extremelly volatile market like cryptos, to the inherent risk of trading you have to add the crazy volatility of the cryptos market. It is like trading at the same time the non farm payrolls is anounced.

Will we ever see crypto Darwins enabled ?

At leverage 2 on BTC, it was leading to 1000% in 6 months, just investing, not plugging any fancy robot

It’s like the sunday closure could be a big risk factor. Not sure why Darwinex has this fantasy and not LMAX, which is so not in the spirit of the 24/7 spot market, perpetually opened without any maintenance or settlement closure :face_with_raised_eyebrow: