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Trade Bitcoin Binary Options With TradeRush

Jun 19 2013
By

In the space of just a few months, all sorts of things have been happening to bitcoin trading. We have seen the cryptocurrency's value steadily grow to about $266 per unit, then crash to $105 a few hours later, sink even lower to about $50... and then climb right back up by $100. The biggest bitcoin exchange, Mt. Gox, was assailed with lawsuits, followed by a full-on federal investigation. And yet, the innovative digital currency continues to thrive. In fact, it has now caught the eye of binary options broker TradeRush, which has decided to begin offering bitcoin on its binary options trading platform.

 

It is exactly the surge in volatility the currency has been experienced lately that most likely led TradeRush to include it in its offering. A currency whose value changes significantly from one hour to the next is ideal for binary options trading, where a trader is required to only guess whether a currency pair's value will move higher or lower, and actual prices are not important. Though the value of bitcoin has remained a lot steadier over the past weeks that it was in April, there is still enough of a fluctuation. Since the beginning of the month, it has now strayed below $90 per unit, or above $130. At the moment of writing, a single bitcoin is worth a little less than $109. 

 

If a TradeRush client were to decide to try out the broker's new offer now, they would find only one bitcoin binary option available. It offers a 70% maximum payout and expires at 6:30 PM today. This means that if I invest $100 now in the hopes that bitcoin value will drop below current levels (which is what the popular opinion on TradeRush seems to be for now), I could end up $70 richer in a few hours. Of course, knowing this currency's fickleness, I could lose my $100 just as easily.

 

 

I believe this is exactly why bitcoin has not gained as much popularity among brokers as it has with traders. An instrument that offers practically no opportunity for meaningful technical or fundamental analysis probably seems too untrustworthy and unconventional. Still, there have been some brave attempts to rein in the cryptocurrency and place it within the confines of regular old Forex trading. The most recent of these was made by Plus500, who started offering BTCUSD with a leverage of 1:4 and a 100-pips spread at the end of April. Currently, the broker has increased its leverage for the pair to 1:5, probably owing to the decrease in volatility lately. 

 

As for binary options trading, TradeRush is not exactly a pioneer. UK broker IG Group had a temporary bitcoin binary option running throughout May this year on a trial basis. Though the company's management did not opt to continue running the option permanently, it did pave the way for other companies. 

 

Having more brokers offer bitcoin as a trading instrument would also have an added benefit of making digital currency more regulated. When bitcoin is offered as a Forex or binary options trading instrument, it automatically falls under the authority of relevant regulatory bodies. Though the CFTC has been considering creating a set of rules aimed at digital currency in particular, no further steps have been made in that direction as of now. Hopefully, increased broker interest will manage to bring about at least some orderliness in the otherwise unstable world of digital currency.

 

  

TAGS: traderush  bitcoin  binary options  bitcoin binary options 
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

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