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Gontos

forexoptimum - cryptocurrency trading

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Gontos

Hi everybody, I noticed that the forex optimum broker has the option of trading cryptocurrency. This got me very interested because I used to be keen on trading on forex and now I want to try again but already trading cryptocurrency. Perhaps someone has already traded like this? Do I need to recharge the account with cryptocurrency or can I recharge with dollars as usual?

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Drengi

Hello, the currency of the account is, as a rule, the american dollar. Recharging the account is also performed in the current currency, or the money is converted from other currencies by payment systems automatically when recharging. I was sent this answer from the support service. I do think afterall that it'll be easier to recharge with dollars and start trading that way.

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tbalazs
On 2/4/2018 at 10:08 AM, Gontos said:

Hi everybody, I noticed that the forex optimum broker has the option of trading cryptocurrency. This got me very interested because I used to be keen on trading on forex and now I want to try again but already trading cryptocurrency. Perhaps someone has already traded like this? Do I need to recharge the account with cryptocurrency or can I recharge with dollars as usual?

the idea of the broker is that you loose all your money at their platform...

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Gontos

Sometimes the broker has cryptoaccounts that are recharged with cryptocurrency and are in the same crypto. But I think this option won't be very convenient for me. Atleast at the moment it'll be easier for me to open a dollar account and trade cryptocurrency. When I see an account in dollars, I know how much it is, but in crypto - I can't tell. Thanks for the answer, it's what I wanted. I'll try it, maybe I'll return to trading )

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Drengi

It’s easy to find out. You don’t need to convert cryptocurrency into money; you just have to estimate how much your cryptocurrency costs. For example, let’s take a crypto which costs $10.000 for a token and you want to fund a deposit for 0.5 token. So 0.5 tokens $5.000. The rest will be easy to count.

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Arhon

And what are the conditions for cryptocurrency trading here? I'd like to know about transfers, withdrawals, etc. Are there any differences between trading standard currencies and crypto assets here?

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Drengi

The broker offers exactly the same conditions as for the currency pairs. Floating spread and 1:500 leverage. You can find out more details in the "Make a Profit"section on their site. You need to look look under CFD on crypto. Verification and things like that are no different from a standard account.

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Arhon

There's one thing I actually fell for. So the conditions described on that broker's site were really good, almost perfect, but then I started trading and it wasn't so good anymore...Slippages occured everytime I opened a trade, the spreads were way higher than those on the site...I somehow managed to withdraw money and forget about this broker. From that moment on, I don't believe the info on the brokers' sites=) 

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Drengi

If the conditions were any different from those described on the site, I would tell you. I only trade BTC/USD, that's true, but the conditions are exactly the same as on the site. The spread is floating and pretty reasonable... This is probably the only diffirence cause it seems like the site just doesn't mention it.

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Arhon

I've been trading on Forex Optimum not for so long. And I haven't had success yet. I try different strategies, watch the analytics, but I have nothing to withdraw so far. It seems to me that all strategies are fake. One experienced trader once told me that he creates an information vacuum around himself when trading. I didn't quite get what he was talking about. I think all these analyzes are just for bluffing

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Drengi

You're wrong. These strategies combine theoretical science and exchange experience. Some of them have appeared in the pre-computer era and are still working in a new capacity. If they didn't work, they would have been forgotten.

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Arhon

Then why I can't make any money when I do everything according to the textbook. I've read a huge amount of literature, I can almost teach it, but there is still no sense.

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Drengi

Well, maybe you do something wrong or you miss something. Maybe you trust unreliable analytics or watch the wrong forecasts. I don't know. For example, I trade on news and am in a positive position. But I got here not at once. I had to learn to read between the lines.

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Arhon

I try studying different crypto forecast to trade on forex optimum later on. I can't understand a thing. In Singapore bitcoin has suddenly reached $9k, and here it's traded at the price of $6,4k. Does this leap mean anything? Some people say that bitcoin price might hit 28k$ in 5 years, and some people say it's going to drop to 43$. And everyone seems to have really strong arguments.

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Drengi

Well, you're looking too far, 5 years is a whole eternity. I usually use technical and fundamental analysis. And of course I always try to monitor the rate, so just in case I can close the deal in time without losing money. Although here you need to have a clear understanding of timing. Sometime intuition helps.

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