TradeFred Cryptocurrency and Bitcoin Trading
Why It Makes Sense to Do Cryptocurrency and Bitcoin Trading with TradeFred?
As days pass, more and more brokers are bringing cryptocurrencies on their trading platforms. Times when all the brokers will be offering cryptocurrency CFD trading are not too far. However, you have to give extra respect to the pioneers who did not pay much attention to their risks and brought one of the emerging financial markets to their traders. TradeFred allows its traders to trade CFDs on cryptocurrencies. The broker has only added bitcoin to its tradable assets list right now but you can expect more digital coins being available for trading in the coming times.
Now, you will see that many other brokers are also providing cryptocurrency trading on their platforms. Why should you then choose TradeFred over those other brokers? Let’s look at the most important reasons.
Reasons for Trading Cryptocurrencies with TradeFred
Because You Can
The first reason to go with TradeFred cryptocurrency and bitcoin trading is that this broker has given you access to this amazing option. Despite the great increase in the popularity of cryptocurrencies, many brokers are still hesitant to bring them to their trading platforms. One must keep in mind that these brokers usually let their traders trade cryptocurrency CFDs. They don’t give you real cryptocurrencies. If you want to buy real cryptocurrencies, you are better off exchanging your money on an exchange for your desired digital coin. The more important reason to use the TradeFred platform for trading cryptocurrencies is that this broker lets you trade the digital coin however you like.
Some of the big names in the online brokers’ industry have shown their fears when it comes to allowing traders to trade cryptocurrencies. These online brokers might limit the position you can take on your trade. On the other hand, TradeFred has not put any restrictions on you in terms of the position you can take in the trade. Whether you want to go long or short on your cryptocurrency trades is completely dependent on your choice. Just like other CFDs, you can trade cryptocurrency CFDs too.
Because of Trading Conditions
One of the most important things you have to consider when it comes to trading cryptocurrencies using a platform from the broker is the trading conditions. You want to be sure that the trading conditions are perfect for you to benefit from your trades. The first thing you want to rule out is the presence of commissions. Many online brokers charge you huge commissions on your trades regardless of the asset you pick. These big commissions can leave a huge dent in the potential profits that you can make on your trades. Spreads are the better way for brokers to charge their traders.
Another thing you have to see within the trading conditions is the leverage. Are you getting leverage on your trades? Yes, you get huge leverages on your trades when you trade currency pairs, stocks, indices, etc. The leverages are usually absent when it comes to cryptocurrencies because of the volatile nature of this market. Brokers don’t want to take any risks so they don’t offer any leverage to their trades for trading cryptocurrencies. TradeFred takes a completely different route here too. It still offers a 1:2 leverage to its traders when they trade bitcoin. This might seem like a small leverage but it is better than not receiving any leverage at all.
Because of Social Trading
You might not be sure about your trades when you enter the cryptocurrency market for the first time. Cryptocurrencies can still be confusing for new traders because of their volatility and newness. You don’t have a lot of data from traders to bank on. The best way to avoid this situation is to go with social trading. Social trading is an option that you can use to copy the trades of experienced traders in the market. These traders might have been trading cryptocurrencies for a long time. Rather than doing any type of guesswork, it makes more sense to follow the footsteps of an experienced trader.
In addition to copying the trades, you can also take advantage of the information that is shared by these traders in the online communities. You can get any questions you might have about cryptocurrencies answered in the community environment so you can learn fast and move on.
Because of Promotions
A big reason why you should trade bitcoin and cryptocurrencies with TradeFred is the availability of promotions. At the moment, there are no promotions set specifically for those who want to trade cryptocurrencies. The current promotions are generic and suit any type of trader who might sign up with TradeFred. The biggest promotion available from TradeFred right now is the credit offer for staying active during a quarter. If you can make more than 100 transactions in any given quarter, you might just get up to 50% of the money you have spent on spreads back into your account.
This money can be used for whatever you like. If you don’t want to reinvest this money, you can simply pull it out of your account in the form of cash and use it the way you want. Another great promotion is available on your birthday. When your birthday comes, the broker will send you a check of $25 so you can do whatever you want with this gift from the broker.
There are many other reasons why you would want to start trading bitcoin with TradeFred. The trading platform from TradeFred is another reason why you should be comfortable trading the most volatile cryptocurrency i.e. bitcoin. It is amazing that TradeFred has also brought the social trading option for its traders. New traders are often dealing with a lack of confidence when it comes to their first trades. Trading cryptocurrencies can be even more intimidating for these individuals. However, with the social trading option, they can copy the trades of the most experienced and reliable traders in the markets and pull off profitable trades even when the market conditions seem worse for traders.