Bitcoin Forum

Bitcoin most traded commodity on plus500 on the 21-11-2013

Plus500 is a large UK-based online trading company which is listed on the London Stock Exchange where you can trade CFDs on a range of financial markets. See my signature for more info.

I just received their newsletter which states that the most traded commodity the last 3 days has been Bitcoin. (Beating out both Gold and Oil.) Screenshot of the newsletter: http://imgur.com/UC9qTUP

Think this shows just how large the Bitcoin interest is right now. At Plus500 you can make instant deposits with credit cards so there is no waiting on money to hit the exchange. This is probably a good indicator that there is a huge amount of money on the way to the real exchanges as well.

https://i.imgur.com/UC9qTUP.jpg

didnt know that and in my opinion: nice news and they also trade Litecoin now :)

http://forexmagnates.com/plus-500-bites-the-virtual-currency-bullet-launches-litecoin-trading/

(found by the user Bitsinmyhead)

Can you actually buy bitcoins through Plus500 and transfer them tou your wallet?

Welcome to the Press ADVERTISING channel, how may I shill for you today!?

No. As with AvaTrade their main competitor for trading Bitcoin CFDs (Contract for Difference) they trade a contract on the price of Bitcoin in USD (MTGox) long or short on margin. This is basically how most Forex Brokers operate. One cannot "take delivery"

http://Avatrade.com (http://Avatrade.com)  ;) They are their main competitor in the Bitcoin CFD field.

Would be nice if they where actually trading Bitcoins.

But that are just Traders gambling betting against each other. Has as much Effect on Bitcoin as Horse Race bets have on Horses.  :P

I think it has some effect on the real price still. If their odds would tend to differ too much against the real bitcoin price it would become profitable to "arbitrage" their bets against actually buying bitcoins. You could find low/zero risk opportunities where you take a short position on one end and a long position on the other, basically combining odds arbitrage and regular arbitrage.

It can have a very significant impact on the BTC/USD rate on MTGox, much like the trading of derivatives including options and futures can have on the stock, commodity and fiat currency markets. Let us not forget that the market makers on Plus500 and Avatrade have to hedge their positions by trading BTC for USD on MTGox.

I am a client of AvaTrade and find the ability to trade Bitcoin CFDs to be an excellent complement to holding a long term BTC position. This is especially true when taking advantage of a falling market without risking one's BTC and triggering unrealized capital gains on one's BTC.

The ability to trade Bitcoin CFD's is simply a sign of the growing maturity of the Bitcoin market.

@ TraderTimm

and thats all i wanted to say here, no commercial thread :) !