New cryptocurrency pairs
Cryptocurrencies are among the most unpredictable instruments from a fundamental analysis perspective.
At the same time, technical analysis of crowd behavior, major players, and overall graphical patterns in this young market are demonstrating unprecedented effectiveness.
Adding to the effectiveness of technical analysis is the unprecedented rate of rise and fall of this asset: surging 10 percent in either direction within a day is no problem.
However, despite the vast number of cryptocurrencies and pairs listed on specialized exchanges, forex brokers are slow to integrate them into their platforms.
It's also worth noting that the limited number of crypto pairs means traders and investors can't hedge their risks, as a single currency pair simply can't cover the price movement that can be seen in Bitcoin.
AMarkets is one of the first brokers to offer cryptocurrency trading to its traders. Until recently, the range of instruments was limited to just seven crypto pairs, which were considered industry leaders.
Nevertheless, the company has experienced increased demand from traders and investors, so to meet their interests, Amarkets has introduced seven more cryptocurrencies, which are popular Bitcoin cross-rates, as well as a new instrument: Bitcoin Cash.
Trading conditions for new cryptocurrencies:
As we have already noted, Amarkets has significantly expanded the list of cryptocurrencies available for trading by all the company's traders.
Since cryptocurrency trading is far from the cheapest form of trading, and is also specific and differs significantly from foreign exchange trading, everyone should be clearly aware of the specifications of each contract. So, let's take a brief look at each crypto pair.
1. BCHBTC is a new cryptocurrency pair that includes Bitcoin Cash and Bitcoin. It's worth noting that Bitcoin Cash emerged in 2017 as a result of a fork of one of the Bitcoin blocks. The lot size is equal to 1 Bitcoin Cash.
The size of one pip is 0.00001. The minimum trading lot is 0.1, and the maximum lot is 50. The margin requirement is 20 percent, and to open 1 lot of this currency pair, you will need $656. The value of one pip for BCHBTC is $0.96.
2. BTCEUR is a cryptocurrency pair consisting of Bitcoin and the European single currency Euro.
In terms of the instrument specifications, to open one position with a full lot, a trader needs a margin of $962, since one trading lot is equal to one Bitcoin. The minimum position size is 0.1 lots, and the maximum is 50 lots. The value of one pip is $0.12.
3. DSHBTC is a cryptocurrency pair consisting of DSHBTC and Bitcoin. To open a position of one trading lot, you will need a margin of $140 in your account, and the value of one pip is $0.96.
4. ETHBTC is a crypto pair that consists of Ethereum and Bitcoin. The size of one trading lot is equal to 1 Ether.
To open a position of one trading lot, a trader must have a margin of $83 on the account, while the value of 1 pip is $0.96.
4. BCHUSD is a crypto pair that consists of the cryptocurrency Bitcoin Cash and the US dollar. The size of one lot is 1 Bitcoin Cash.
To open a position with one lot, the margin is $429, while the value of one pip is $0.01.
6. LTCBTC is a crypto pair that consists of Litecoin and Bitcoin. To open a position with one lot, a margin of $165 is required, while the value of one pip is $9.62.
7. XRPEUR is a crypto pair that consists of the cryptocurrency Ripple and the European currency Euro. To open a position with one trading lot, a margin of $76 is required, with the value of one pip being $0.12.
Finally, it's worth noting that the emergence of various cryptocurrency crosses allows traders to develop more secure trading strategies, as they have the opportunity to hedge risks.
Amarkets broker website: https://www.amarkets.org/
