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ICM Capital jumps the bitcoin bandwagon

 ICM Capital, a forex and CFD broker regulated by UK’s FCA, has announced it is launching CFDs on the most popular cryptocurrency – Bitcoin – against the USD.

 

The minimum deposit requirement for the instrument is $200 and the margin requirement is 10%. The minimum lot per trade is 0.10 and the spread is floating.

 

ICM Capital is regulated by the Financial Conduct Authority. The broker has two types of accounts: ICM Direct and ICM Standard, with the main difference between them being in the types of spreads. The broker offers trading in forex and CFDs on oil, indices, precious metals and now bitcoin. Trading is done on the popular multi-asset platform MetaTrader 4.

 

ICM Capital is the latest “traditional” forex broker to expand its portfolio with instruments on cryptocurrencies. Since the start of the bubble, a growing number of forex brokerages is turning their attention to the alt-coins, usually offering CFDs for leveraged trading. Some, like Swissquote, however, have teamed up with the cryptocurrency exchange Bitstamp to offer bitcoin trading, while eToro set up dedicated crypto investment portfolios, in addition to offering trading in bitcoin and ether.

 

The main difference between the forex brokers offering crypto CFDs and the majority of cryptocurrency exchanges is that the latter are offering spot trading in coins, which can be withdrawn and used for payments or transferred to other people, for example.

 

TAGS: icm capital  bitcoin 
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