So lately I’ve gotten into this thing called Bitcoin. Basically it’s a unregulated internet currency which has become vary popular especially this year since the cost of one BTC crossed above $100 and $200 price point.
Anyways the other day it dawned on me why not try to find a forex broker offering Bitcoin deposit/withdrawal. After a quick google search only a few brokers offer this option (which is understandable) LiteForex, FirstNationalIB, 1Broker, and Bit4x. Haven’t heard of these brokers before though which is a bit daunting since I’ve been apart of the fx industry for a number of years.
Anyways back to the point, Has anyone used either of these brokers? One or two look kind of sketchy but you know what they say don’t judge a book by it’s cover. (Which is why I’m posting here)
Can anyone verify the legitness (<- Just invented that word) of at least one of the above mentioned brokers?
It is entirely possible in a situation like this that you could lose more on the value of your account holdings in bitcoins than you make in your trading (assuming you are a profitable trader, of course). Also, keep in mind that fluctuations in the value of the bitcoins will reflect in your margin requirements, which could adverse effect your ability to position size as you desire.
I know BitCoin is very popular as an e-currency. But I think it’s better to trade with a regulated broker using $ currency for depositing and withdrawal.