Categories Crypto Trading Tips

Cryptocurrency Trading Establishes Itself in the Conventional FX/CFD Brokerage Sector

Cryptocurrency trading has achieved mainstream status within the FX domain. What initially began as a specialized feature has now evolved into a fully incorporated element of the traditional brokerage framework, with well-known platforms like MetaTrader and cTrader leading the initiative. If you have ever executed a forex trade on the widely used MT terminal, it is likely you have noticed one or two cryptocurrency pairs appearing alongside your standard EUR/USD and GBP/JPY. Moreover, continuous trading on MT is now a genuine option.

To explore how these developments are converging, we have engaged in discussions with industry pioneers who are shaping the future of trading technology.

In our previous coverage, we featured insights from Lars Holst, CEO of GCEX; Konstantin Shulga, CEO and co-founder of Finery Markets; and Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. You can view their contributions here.

Last week, we further delved into perspectives from Mark Foulger, Managing Director – Digital Asset Innovation at Rostro Group; Justin D. Hertzberg, Chief Executive Officer at FPFX Tech; and Michael Thirer, Chief Legal Officer at Muinmos. If you haven’t seen them yet, you can catch up here!

Today, we conclude with insights from Tom Higgins, Chief Executive Officer at Gold-i, Spotware, and Quoc Dat Tong, a Senior Financial Markets Strategist at Exness.

Examining the Technology Facilitating Cryptocurrency Trading Integration

Behind the scenes, liquidity hubs such as oneZero and PrimeXM are instrumental. These systems enable brokers to access fragmented cryptocurrency markets without the necessity of developing internal infrastructure. These hubs assist brokers in consolidating prices from various sources and distributing them with minimal delays. For instance, a trader on Pepperstone’s MT5 platform may receive pricing data sourced from multiple liquidity providers.

White-label solutions like DXtrade Crypto enable even those who are late market entrants to utilize a pre-built platform, underscoring that primary technology providers now regard cryptocurrency as a standard element of multi-asset trading.

A significant area of competition has emerged around connectivity and API support. Brokers are increasingly marketing their FIX and REST APIs as “crypto-ready,” catering to algorithmic and quantitative traders who demand seamless integration for custom strategies. Similarly, there has been a robust push toward compatibility with popular user interfaces such as TradingView and mobile applications. Saxo Bank’s early initiative to incorporate cryptocurrency FX pairs into TradingView in 2021 set the precedent for this trend.

In general, brokers have largely succeeded in embedding cryptocurrency trading as a native feature within their platforms.

Brokers Enhance Their Offerings

Brokers such as IG, CMC Markets, and Saxo Bank have modified their proprietary platforms to accommodate cryptocurrencies, recognizing digital assets as a novel asset class. IG’s trading system, previously limited to weekday functions, now operates continuously throughout weekends to facilitate cryptocurrency trading. CMC Markets has incorporated cryptocurrency into its NextGen platform, providing features such as sentiment analysis and technical tools in conjunction with traditional forex instruments. In parallel, Saxo Bank has included Crypto FX pairs in its multi-asset offerings, enabling clients to trade pairs like BTC/USD without requiring a cryptocurrency wallet although this was initially restricted to weekdays.

Other brokers utilizing third-party platforms like MetaTrader 4/5 (MT4/MT5) and cTrader have also engaged in this trend. These platforms, while naturally adaptable, required backend adjustments to facilitate 24/7 cryptocurrency CFD trading. Firms such as IC Markets and Exness now provide continuous cryptocurrency access on MT4/MT5, while brokers using cTrader benefit from its integrated cryptocurrency support and the specialized cXchange platform for launching white-label exchanges.

Facilitating cryptocurrency trading involves more than front-end functionalities it necessitates reliable connectivity to the cryptocurrency market’s substantial liquidity. Middleware solutions from suppliers such as oneZero, PrimeXM, and Gold-i have surfaced as crucial, providing bridges that connect brokers’ platforms to leading cryptocurrency exchanges or over-the-counter (OTC) liquidity suppliers. These connections handle essential cryptocurrency-specific operations, including decimal precision, price feed consistency, and overnight funding calculations.

For instance, oneZero’s association with Wintermute as a liquidity provider enables brokers to execute cryptocurrency trades, while PrimeXM’s XCore establishes direct connections to exchanges like Binance and Kraken, guaranteeing steady market access.

While numerous brokers continue to manage fiat-only accounts, some have ventured into cryptocurrency-native environments. eToro, for instance, provides a dedicated cryptocurrency wallet that allows clients to transfer holdings from their trading accounts and receive or send cryptocurrency to external wallets. Eligible eToro Club members can also transfer cryptoassets held in other exchanges, brokers, or different blockchain wallets to their eToro Crypto Wallet, where they can convert their holdings to cash for trading and investing in various asset classes on eToro’s investment platform. Similarly, Swissquote Bank has developed a regulated, bank-grade custody solution.

However, most brokersincluding OANDA and Interactive Brokers (IB)outsource cryptocurrency custody. IB collaborates with Paxos to hold client cryptocurrency in their own names, while OANDA enables cryptocurrency trades without directly handling coins, instead converting client deposits to USD before routing them through Paxos.

Certain offshore brokers, such as FXOpen and specific Exness entities, permit cryptocurrency deposits and withdrawals via Bitcoin and stablecoins, necessitating blockchain monitoring tools and AML-compliant wallet infrastructure.

To cater to the demands of retail and institutional cryptocurrency traders, brokers have expanded into third-party ecosystems such as TradingView. Saxo Bank and OANDA now provide TradingView integration, allowing direct order placement through their APIs. This initiative grants access to a substantial user base of cryptocurrency-focused traders already acquainted with the charting platform.
Additionally, APIs for algorithmic trading have been expanded to accommodate cryptocurrencies. Interactive Brokers provides cryptocurrency access in conjunction with equities and foreign exchange through its API, while OANDA has revised its REST and FIX APIs to facilitate crypto CFD trading outside of the United States.

MetaTrader users have modified MQL scripts for cryptocurrency, with brokers ensuring that servers remain operational over weekends. cTrader also supports automated cryptocurrency trading strategies through its Open API and cAlgo.

Behind the scenes, brokers have enhanced risk management, accounting, and reporting systems. Platforms now compute funding fees and mark-to-market positions daily, including on weekends. Brokers engaged in actual cryptocurrency trading, such as IB, have had to adopt tax lot accounting and real-time reconciliation with custodians.

Build vs. Buy: A Combined Strategy

The decision between developing internal systems and purchasing pre-built solutions differs based on broker size and strategy. Firms such as Plus500 have developed proprietary platforms for cryptocurrency CFD integration. In contrast, others prefer white-label solutions like DXtrade Crypto by Devexperts or plugin tools from B2Broker and Tools for Brokers.

These ready-made platforms feature comprehensive mobile/web interfaces, price feeds, and even cryptocurrency wallet and custodian integration enabling smaller brokers to swiftly enter the cryptocurrency trading arena without the need for constructing intricate infrastructure.

As part of the transition, platforms now incorporate cryptocurrency-specific features such as 24-hour percentage change indicators, client positioning metrics, and integrated news feeds from prominent cryptocurrency sources.

If you desire to spend cash or crypto on any platform, we don't recommend it. Many offers we present you here doesn't require your spending money to earn anything. For those that do, please do your due diligence before comitting your earnings to it.

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