Finally eToro Launches Public Beta Trading in Bitcoin (Click here) that we all have been waiting for. It’s been couple of months that they are discussing about bitcoin, and finally eToro’s OpenBook platform represents their service regarding world’s most accepted form of virtual currency. eToro is not itself a broker but primarily a platform and a software provider that interfaces with third party brokers systems through API.
The Bitcoin service is currently in live beta so that the clients get a full access. But it is yet to be announced officially. This service is part of new ‘Stocks’ product line that’s been provided by the firm. Like all other product eToro has inhibited the traders from intraday bitcoin trading using this service. They can only buy and sell once in a day at current market value. Like other mutual funds, eToro’s impartiality services offer partly purchases of shares which allows the users to buy $100 worth of a stock or bitcoin. Nevertheless the stocks are charged a 0.1% transaction fee while the bitcoin is charged to 1.0% commissions on trades.
Note : Buy / Sell order on eToro will only be executed at 20:30 GMT with respect to the rates of 20:00 GMT. eToro allows you to trade Bitcoin without owning the underlying instrument itself. It’s just like betting with the broker that the price will go up or down.
According to HBSwiss, in the aspects of launching the bitcoin officially and providing openings for bitcoin credits, Forex Magnates contacted with eToro representatives. But they didn’t make any comment regarding the launch of bitcoin trading service.
In the prospect of trading, the eToro stock provides a pristine component to artificial contributions which comprises CFDs and binary option products. Although most of the products from broker offerings have contract expiration limit, eToro’s bitcoin stock is trying to insist longer- term investing.
Only time will tell if the stock version assimilated with broker’s global product offerings can make sense for providing diverse investing of bitcoin. Instead of trading actual bitcoin. For now the bitcoin traders gladly accept the product provided by eToro.
Also check :
- Learn The Basics Of Bitcoin Trading : CFD Guide
- Guide To Buy / Sell Bitcoin, Litecoin With Plus500 CFD