NordFX has converted MetaTrader 4 into a cryptocurrency trading platform through its new MTEX system. The platform retains its existing forex and metals trading features while adding crypto capabiliti
NordFX has converted MetaTrader 4 into a cryptocurrency trading platform through its new MTEX system. The platform retains its existing forex and metals trading features while adding crypto capabilities.
The company unveiled RAMM, its automated signal-copying service, while developing MTEX as a peer-to-peer exchange. Traders execute orders with each other at the best available prices, with the market setting spreads. This drives costs below traditional crypto exchanges. BTCUSD pairs now carry spreads of $5-6, down from the $25-30 typical at larger venues.
Commission structures differ from standard brokers. Taker fees rank among the lowest available. Traders who place limit orders earn maker commissions instead of paying them to the platform. Profit comes from both spreads and commissions.
Margin requirements remain minimal. A 1 BTC position requires $300 in margin, providing 1:20 leverage at current prices. Ethereum positions require $30 per lot. Ripple costs $0.06. NordFX's website lists margin requirements for additional pairs and indices.
The platform supports 14 major cryptocurrencies quoted in USD and four crypto-indices. TOP14CRYPT, TOP5CRYPT, 10ALT, and TOP3ALT bundle different cryptocurrencies in various weightings. Traders can mix crypto pairs with traditional currency and metal trades on the same account.
NordFX offers three account tiers: Fix, Pro, and Zero. All support simultaneous crypto and traditional asset trading. Traders denominate accounts in dollars, Bitcoin, or Ethereum and deposit or withdraw funds using the same currencies. The company plans to expand its cryptocurrency wallet options.
The broader NordFX operation has run since 2008, when the company began offering forex, cryptocurrency, metals, and stock trading across more than 100 countries. Traders have opened more than 1.2 million accounts on the platform. Industry organizations have awarded the company more than 30 prizes since inception. The company maintains tight spreads, instant order execution, and leveraged trading up to 1:1000 for currency pairs and metals, with fixed margins on crypto.
