shard_2013Full Member
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#1Apr 25, 2017, 09:00 PM
I heard some forex brokers list bitcoin on their platforms. Anyone know if that’s true? If I'm wrong, feel free to correct me.
Are Forex Brokers Closing Bitcoin Trading?
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king_matrixMember
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#2Apr 28, 2017, 02:43 AM
Bitcoin trading is open all the time. Forex and traditional commodities have closing times, but crypto doesn’t. So, is bitcoin trading really closing on those platforms?
Not sure about forex brokers and bitcoin specifically, but I’ve never seen a broker close crypto trading. I’ve been on exness for a while and bitcoin is always trading there. Weekends are just slower, but still active for those who like smaller time frames.
I don’t trade bitcoin through forex brokers. Just heard someone say they close like forex markets do, which seems sketchy. If there's closing time, traders need to be careful and maybe close positions before that. Too many exchanges out there to bother with forex brokers.
You say you heard that? But can you confirm any forex brokers actually have bitcoin listed? I doubt it. Bitcoin runs 24/7, so having a closure there seems off.
HyperBlockMember
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#6Apr 28, 2017, 06:23 PM
With forex platforms, you can trade bitcoin nearly all week. Not like they completely close, you can still place orders but they won’t fill until they reopen. Better to keep your funds out of those centralized services.
The only broker I’ve used for crypto is Deriv, and they let you trade bitcoin and XRP all the time, even on weekends. If other brokers do close trades, that’s not right. Crypto should always be open.
paulvectorMember
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#8May 1, 2017, 02:17 AM
Yeah, Deriv doesn’t close bitcoin trading, and most platforms I know don’t either. Bitcoin isn’t tied to traditional markets, so it makes sense for it to be available 24/7. Some indices can be traded even when traditional markets are closed too.
I’ve never tried forex brokers for bitcoin, but I just feel they’ll lock trades when they close, leaving positions hanging until they open again. They might fill at a different price too.
chris_maxiNewbie
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#10May 1, 2017, 08:13 AM
I’ve always thought forex platforms are for currencies only. Why is bitcoin listed there? If they close trading on weekends, that’s just wrong. Have you checked their bitcoin charts for closing hours?
real_protoNewbie
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#11May 2, 2017, 05:37 AM
From what I get, crypto operates separately on these platforms. It doesn’t follow forex's rules, so it should stay open all the time.
Yeah, what you said is true. Most forex brokers have some crypto offerings now. They deal with various assets, not just forex. My experience with a few brokers shows only one closes bitcoin trading, but they also offer a 24/7 trading option.
I'm curious how trading works on these brokers. Is it backed 1:1 with actual bitcoin? Can you withdraw bitcoin, or is it all just numbers on a screen?
Forex markets close on weekends, but you can still place orders. They just won’t execute until they open again. Crypto markets are 24/7, so you can see for yourself on platforms like eToro.
HyperBlockMember
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#15May 4, 2017, 10:17 AM
Never seen it myself, but they probably follow traditional market patterns. So it’s not manipulation, just how they operate. We don’t have direct access there; it’s more of a copy.
CalmFalconMember
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#16May 4, 2017, 11:41 AM
Yep, on Deriv, you can trade indices and crypto without closing times. If any broker has closing hours for crypto, I wouldn’t trust them. Better to stick with proper exchanges for crypto trading.
ben.matrixNewbie
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#17May 5, 2017, 11:27 PM
My experience is limited, but the broker I used didn’t have bitcoin available. They operate more like options. If they hide withdrawal options, it’s usually pretty obvious, which is why they don’t last long.