Leading forex broker, OctaFX, has listened to customer demands and increased leverage ratios on digital currencies. The move will help traders take larger positions on big names like Bitcoin with minimal capital outlay.
New Crypto Leverage Ratios
Where leverage was previously capped at 1:10, traders at OctaFX can now speculate on all digital currency pairings with leverage up to 1:25. The decision was taken after reviewing market sentiment and responding to client communications.
The cryptos experiencing the greatest trading volumes at the CFD broker are:
Investors can analyse the markets and take positions on MetaTrader 4, MetaTrader 5 and cTrader. These terminals are highly regarded in the retail trading space, offering a suite of technical and fundamental analysis tools. A range of automated and leveraged trading strategies can be used on the broker’s platforms.
The Crypto Market Faces Turmoil
It’s been an uncertain few months for the crypto markets. A couple of recent Bitcoin corrections led to a drop in values across the market, though hopes were high again as Bitcoin reached an all-time high of more than $60,000 in April of 2021.
Yet just this week, the price of Bitcoin tumbled again by nearly 10% as China announced new measures to clamp down on BTC mining. The price of Dogecoin also fell by nearly 25% in the wake of the news.
The volatility of the crypto markets may appeal to retail traders, but with OctaFX’s increased leverage, clients must ensure they take a considered approach to risk management.
OctaFX was established in 2011 and has since attracted more than 1.5 million live trading accounts. The broker offers close to 30 popular forex pairs, access to 10 major stock indices, plus a suite of commodities and cryptos.
Welcome deposit bonuses are available to traders from outside of the EU. New joiners also benefit from several additional features, from regular market insights and news to an Autochartist plugin and a copy trading service.
For aspiring crypto traders, OctaFX offers all the tools needed to speculate on big names like Bitcoin. And its latest increase in leverage rates will be welcomed by many, offering greater market exposure.