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Cryptocurrencies Trading

Cryptocurrency Fundamentals

WHAT IS CRYPTOCURRENCY?

Cryptocurrency, also known as digital currency, is an electronic cash system, monitored via a peer-to-peer network. The process for maintaining consensus across the network is safeguarded by means of sophisticated cryptography, using highly complex algorithms.

Cryptocurrency trading represents the next stage in the evolution of the online financial arena. Security is airtight, transactions are instant and anonymity is guaranteed.

Completely decentralized, it has no central server, or single overarching authority, and is free of any governmental supervision or intervention. Information is encrypted to signify units of currency which can be traded online, by investors worldwide.

How Do Digital Currencies Differ from Traditional Currencies?

  • Electronic – cryptocurrency has no physical form. Rather, it is a completely virtual, digital monetary system.
  • Fixed – based on a coded schedule, cryptocurrencies like Bitcoin have a finite, limited supply and the reserve can be precisely calculated.
  • Safe a powerful public key cryptography system enables only the private key holder to transfer currency, safeguarding against fraud.
  • Fast –  transactions over the peer-to-peer network are executed and then verified almost instantly without bureaucratic delays.

  • Decentralized free from governmental censorship, oversight or interference, cryptocurrency has no central authority in control.
  • Worldwide – currency transfers can be executed and confirmed from any location in the world, over a global digital network
  • Anonymous currency transactions in the network are anonymous, as an address in the network needn’t correlate to an identity in the real world.
  • Transparent – The blockchain ensures trustworthiness and transparency, eliminating the need for layers of banking red tape and expensive service fees.

HOW DOES THE CRYPTOCURRENCY ECOSYSTEM WORK?

To safeguard against fraud, a payment network must maintain a precise balance record. While this is managed via a main server for traditional monetary systems, cryptocurrency is decentralized, without a central server, so another means of tracking transactions and ensuring transparency is required. Cryptocurrencies manage this by enabling network peers to access a full balance log to confirm the legitimacy of new transactions. In this way, consensus on the status of balances between peers is achieved across the network.

By means of sophisticated public key cryptography, cryptocurrency is securely encrypted and stored in the blockchain. A private key is used by the party making the transfer to authorize a transaction, which is then published to all the nodes in the network.

When a transaction request is broadcast to all the network peers, it is added by miners to the blockchain, an unchangeable transaction record. Miners utilize advanced algorithms to legitimize the transaction, add it to other validated cryptocurrency transactions to create a  block, which is then linked to the existing blockchain. Each node in the P2P network then adds the transaction to its database. The miner is paid in a token of cryptocurrency for verifying the transaction, which can now no longer be reversed.

How to Invest

Executing a cryptocurrency trade with MetaTrader 4 is quick and simple. In addition to providing a broad selection of professional grade analysis charts and automated tools MT4 offers a user-friendly and intuitive trading experience for both new and veteran traders.

THE DASHBOARD

The main screen is divided into various sections with a series of price charts at the center, which can be customized to suit your trading preferrences.

In the Market Watch window to the left of the screen the available assets and their bid and ask prices are listed. The Tick Charts tab at the base of the window shows the latest price activity for the listed currencies.

The Navigator window appears below the Market Watch window, where you can view your account, and where a variety of automated Expert Advisers and indicators are displayed.

The bottom of the screen shows the Terminal where the Account History, Alerts, Mailbox, Experts, Journal and Trade tabs appear. The Trade tab shows the symbol, profit and loss, trade entry price, and closing price, as well as the stop-loss and take-profit levels.

HOW TO PLACE AN ORDER
The Order window, where trades are placed can be accessed in the following ways:
  1. by clicking on an asset in the Market Watch window and selecting New Trade
  2. by clicking on the New Order button in the tool bar
  3. by right-clicking on a chart and selecting Trade> New Order in the tool bar
  4. by clicking F9 on the keyboard

To place an order, simply follow the below steps:

  1. Select the relevant symbol from the drop-down menu. The dynamic chart will then automatically display the corresponding asset activity and the tick chart in the Market Watch window will show the current asset price.
  2. Choose your lot size. 1 lot is equal to 100,000 units, but you can elect to trade a smaller volume of your chosen cryptocurrency, investing as little as 0.1 lot.
  3. Set your Stop Loss and/or Take Profit levels, by clicking the up/down arrows to enter the desired price and then clicking the Place button to submit your order. Your Stop Loss and/or Take Profit levels will be displayed as dotted lines on the price chart.
  4. Enter either Market Execution or Pending Order. When placing a Pending Order for executionwhen the asset hits a given order price, you will need to select from the
    1. Buy Stop – an order to Buy at a higher price than the current value;
    2. Sell Stop – an order to Sell at a lower price than the current value;
    3. Buy Limit – an order to Buy at alower price than the current value;
    4. Sell Limit – an order to Sell at a higher price than the current value;
  5. Your last step when placing an order for Market Execution is to click either Buy or Sell. Once your position has been opened, it will appear in the Trade tab of the Terminal.
HOW TO MODIFY/DELETE AN ORDER

To change an order, for example by adding risk management protections such as a Stop-Loss (SL) and/or a Take Profit (TP) orders, just highlight the relevant open position in the Trade tab of the Terminal, right-click and select Modify or Delete Order. A window will then open where SL and TP levels can be modified. So long as the levels are valid (min. 10 pips from the trade entry level), the trade can be confirmed by clicking on the horizontal bar at the base of the screen.

Similarly, a Trailing Stop can be added, which enables you to raise or drop the stop level when buying or selling respectively. Simply right-click on an open position in the Trade tab, click on Trailing Stop, and enter the required stop level

HOW TO CLOSE AN ORDER

You can close a trade by highlighting the open position in the Trade tab in the Terminal, and then right-clicking and selecting Close Order.

You will then see a pop-up requesting that you confirm that you wish to close the position, and will then need to click the horizontal bar at the base of the window to close your position.

YOUR PASSPORT TO A WORLD OF DIGITAL CURRENCY OPPORTUNITIES

Why choose us?

Competitive trading terms
Attractive swap rates, tight spreads & leverage of 20:1.
A tailored experience
Customizable trading tools to suit your strategy.

Expert dedicated support
Personal, professional guidance via email and phone.

Multiple tradable assets
150 available cryptocurrencies.

A trusted partner
Fair transparent service with no hidden commissions or fees.

Complete account security
Powerful, sophisticated system encryption.