Forex Major Russian Forex Broker Alpari Launches Bitcoin Trading Pairs

Major Russian Forex Broker Alpari Launches Bitcoin Trading Pairs

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Major Russian Forex Broker Alpari Launches Bitcoin Trading Pairs

Alpari Group, Russia’s largest native forex broker, has announced the launch of two bitcoin trading pairs, with the company now offering BTC/USD and BTC/EUR CFDs to traders. Alpari Group joins a growing list of international forex and CFD brokers that have introduced cryptocurrency trading markets in recent weeks.

Also Read: Investment Funds That Offer Cryptocurrency Exposure See Big Gains

The Introduction of Bitcoin Derivatives Trading Is of Prescient Timing for Alpari

Major Russian Forex Broker Alpari Launches Bitcoin Trading Pairs

Alpari Group is a forex and contracts for difference (CFD) broker that is licensed in Belarus, Belize, Mauritius, and Russia. Alpari has launched BTC/USD and BTC/USD trading pairs this week, joining a growing list of international derivatives markets that have begun to offer cryptocurrency trading products.

The company was founded in 1998, and since 2014 it has been recognized as the largest Russian Forex broker based upon monthly turnover and number of clients. Despite its Russian success, Alpari has seen significant struggles in recent years – following the insolvency of its UK entity and the revocation of the company’s United States National Futures Association and subsequent exit from the US markets.

The introduction of bitcoin derivatives trading is of prescient timing for Alpari, following recent announcements that Russia is developing a regulatory framework for bitcoin and cryptocurrencies. Many commentators are skeptical that Putin’s Russia will fully embrace bitcoin, as cryptocurrency has the potential to further erode the Russian state’s ability to exercise centralized control over financial circulation.

Alpari Group Has Become the Latest Major International Forex Broker to Introduce Bitcoin Trading Pairs

Major Russian Forex Broker Alpari Launches Bitcoin Trading Pairs

From the perspective of the Russian state, encouraging bitcoin-based trading could facilitate growth in Russian fintech firms like Alpari – allowing such to cash in on the growth of cryptocurrency without promoting the disruptive potential of free and direct cryptocurrency trading, or risking encouraging direct competitor to the national cryptocurrency that Russia has announced it is developing.

Alpari has joined a growing list of international forex and CFD brokers who have recently launched bitcoin and cryptocurrency trading pairs. Israeli-based Panda Trading Systems also announced the introduction of seven cryptocurrency CFD products this week, with Panda’s Ori Hazan stating that Panda is “very pleased to be a part of this exciting new direction the online trading industry is taking. Cryptocurrencies have been on our radar for quite a few years now, but they finally seem to be moving into mainstream adoption and we’re ready for this change.”

In recent weeks HYCM has launched bitcoin derivatives trading to UK, Dubai and Cyprus customer, with Ayondo, Etoro, Plus500, and many other CFD brokers also introducing cryptocurrency CFD markets in recent months.

Do you think that Russia will encourage cryptocurrency trading through derivatives whilst attempting to limit the direct use cryptocurrency by its citizens? Share your thoughts in the comments section below!


Images courtesy of Shutterstock and Apari


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