Bitcoin trading closing on brokers trading platform?

[Oshosondy]

Some forex brokers have bitcoin listed on their trading platform. This is what I was told but which I think is correct. If not correct, you can correct me about it.

Bitcoin trading is not closing but forex and traditional commodities have closing hours and no trading during the weekend. Is the bitcoin trading on their platform closing during the period also?

If it is closing, is it not kind of manipulation?

[Hatchy]

The crypto market is always open 24/7  and I've not seen any broker who offers a closed market for crypto even during the holidays. I've been trading on exness for long and bitcoin is always available to trade. The only thing that happens during the weekend or holidays is the market been very slow, more like consolidation but still very much active for those traders who want to trade on smaller time frames. But that regardless the crypto market is usually always open. If something like that happens then it's obviously a red flag broker.

[Strongkored]

I don't trade Bitcoin on a forex broker so I don't know if there is a closing time on the Bitcoin market there, I just heard a discussion I forgot on which platform that stated that it would be the same as forex where the Bitcoin market would also close, the chart would stop and start again on the same business day as forex trading.
It could be manipulated, and traders should understand the risks so they should close their positions before closing time or not trade at all on that closing day.
With so many crypto exchanges traders should not use forex brokers to trade Bitcoin.

[Lida93]

Some forex brokers have bitcoin listed on their trading platform. This is what I was told but which I think is correct. If not correct, you can correct me about it.

Bitcoin trading is not closing but forex and traditional commodities have closing hours and no trading during the weekend. Is the bitcoin trading on their platform closing during the period also?

If it is closing, is it not kind of manipulation?

It's what you were told? You haven't confirmed if any of the forex  brokers do actually now have bitcoin listed in their platform. Ok. I think this can't be possible, in the sense that bitcoin market runs 24/7 just as hatchy had said, and so therefore, having to close the bitcoin market in their own platform makes it seem as though it's a traditional currency which should follow it's schedule.

[hugeblack]

At Forex sites, you can trade bitcoin 24 hours a day, 5 or 6 days a week. Even during times of closure, trading is open 24 hours a day.
In general, avoid keeping your currencies in these centralized services.

[Dr.Bitcoin_Strange]

Some forex brokers have bitcoin listed on their trading platform. This is what I was told but which I think is correct. If not correct, you can correct me about it.

Bitcoin trading is not closing but forex and traditional commodities have closing hours and no trading during the weekend. Is the bitcoin trading on their platform closing during the period also?

If it is closing, is it not kind of manipulation?

Apart from binary option, the only broker I have traded crypto (Bitcoin and XRP) is on Deriv and I didn't see them close the trades for Bitcoin or XRP during the weekend. Maybe other broker does that but am not aware and it not right if that true. Crypto does not have closing hours and  brokers should not put closing hours if some of them does so.

[Zaguru12]

Apart from binary option, the only broker I have traded crypto (Bitcoin and XRP) is on Deriv and I didn't see them close the trades for Bitcoin or XRP during the weekend. Maybe other broker does that but am not aware and it not right if that true. Crypto does not have closing hours and  brokers should not put closing hours if some of them does so.

Yes Deriv doesn’t closes Bitcoin trading and I think most trading platforms too do not close it, bitcoin isn’t attached to the traditional market or stocks that have opening and closing time base on different time zone but bitcoin and crypto doesn’t have closing hours so it is left for trading 24/7. This is similar to those who trade indices, some platforms do allow the trading of indices like synthetic even on weekends when traditional market are considered close so I think bitcoin and cryptocurrency is treated same way

[dimonstration]

Bitcoin trading is not closing but forex and traditional commodities have closing hours and no trading during the weekend. Is the bitcoin trading on their platform closing during the period also?

I don’t trade on broker because they have window closing time on stock market but I never try buying Bitcoin with them.

I think they will close the trading too while your position will be forced lock until they open their trade again. They will fill the gap between their closing price and the current price once their trading is open.

If it is closing, is it not kind of manipulation?

It depends on how they initiate closing time.

[logfiles]

I am not a fun of forex trading, but I always thought Forex trading platforms are exclusive for Foreign Exchange currencies. How does Bitcoin, which is a cryptocurrency, end up getting listed there? I don't make to me. It's even worse if they are closing Bitcoin trading too over the weekends.

Could you check out the Bitcoin chart on that forex trading platform? You will easily see closing and opening hours.

[shinratensei_]

From my understanding in these forex platform, crypto is like entirely different department and works differently compared to forex.
So crypto doesn't follow the same rule in these platform and still open 24/7

Might be different if the thing traded isn't directly crypto but another kind of contract where you don't actually trade the crypto asset.

[EarnOnVictor]

Some forex brokers have bitcoin listed on their trading platform. This is what I was told but which I think is correct. If not correct, you can correct me about it.

What you were told is right, and today, I don't even think there is a Forex broker that doesn't offer cryptocurrency on its trading platform. However, the term "Forex broker" is an alias for "traditional brokers," so they offer a diverse class of assets, and Forex and Cryptocurrency are just part of them. They are multipurpose market dealers. 

Bitcoin trading is not closing but forex and traditional commodities have closing hours and no trading during the weekend. Is the bitcoin trading on their platform closing during the period also?

My experience with about 5 brokers shows that only one of them is closing Bitcoin trading during weekends. And even that one started a special account last year where you can trade cryptocurrency 24/7.

If it is closing, is it not kind of manipulation?

It is not a manipulation, but their way of offering it. I was a victim of this in the past, but I still can't blame the broker for what it has carefully stated in its Terms of Service.

[GreatArkansas]

(....)
If it is closing, is it not kind of manipulation?

I'm curious about these brokers, like how Bitcoin trading works on them? Is it 1:1 backed? Can you deposit and withdraw Bitcoin there?
Or everything are just numbers in their database?

[slaman29]

Forex brokers simply just close the forex markets for weekend. Actually its not like its closed. you can still place orders but they won't fill until they reopen.

However, crypto markets will continue to operate. You can try yourself and see. eToro should be available demo or with vpn for you to see this for yourself.

[betswift]

I never witnessed it myself, but I would assume they often mirror traditional markets and apply the same limitations that are presented there.

So it's more like a fact than a manipulation.. We don't have direct access to the market there, more like a copy of exposure to it.

[Dr.Bitcoin_Strange]

Apart from binary option, the only broker I have traded crypto (Bitcoin and XRP) is on Deriv and I didn't see them close the trades for Bitcoin or XRP during the weekend. Maybe other broker does that but am not aware and it not right if that true. Crypto does not have closing hours and  brokers should not put closing hours if some of them does so.

Yes Deriv doesn’t closes Bitcoin trading and I think most trading platforms too do not close it, bitcoin isn’t attached to the traditional market or stocks that have opening and closing time base on different time zone but bitcoin and crypto doesn’t have closing hours so it is left for trading 24/7. This is similar to those who trade indices, some platforms do allow the trading of indices like synthetic even on weekends when traditional market are considered close so I think bitcoin and cryptocurrency is treated same way

Yes, on deriv you can trade indices anytime, just like you can also trade crypto all the time, no. Closing time. If there's any broker that put a closing time for those cryptos, then you should not trade there because it's possible that there could be some market manipulation. For someone that is more interested to trade only cryto, it's more better to use centralized exchange and not a broker. I prefer to trade Bitcoin on exchange than on deriv.

[joniboini]

I'm curious about these brokers, like how Bitcoin trading works on them? Is it 1:1 backed? Can you deposit and withdraw Bitcoin there?
Or everything are just numbers in their database?

My experience is limited, but the one I used to visit doesn't have any Bitcoin, so it basically functions like an option most of the time. They're quite upfront about it, though. Even if they have a plan to screw users by hiding that they can't withdraw, I think it's very easy to spot hence why most of them don't do that. Not really a good platform to trade Bitcoin. I won't be surprised if those that allow withdrawal are the exceptions rather than the norm.