Crypto Forex Brokers (MT4 + Weekends Trading)

One of the most exciting innovations in the crypto space is the ability of forex brokers with MT4 or MT5 to offer crypto trading. There are some distinctive differences between conventional crypto trading on exchanges and trading on the platforms of forex brokers with MT4 or MT5 offering crypto trading.

Many traders have not explored the advantages of trading using forex brokers with the MT4/MT5 who offer crypto trading. This article will highlight these advantages so you get the opportunity to understand what you stand to gain when you trade cryptos with the forex brokers we have listed here on this site. This is what this article will showcase here.

Trading Cryptos on Exchanges versus Forex Brokers with MT4 of MT5 Offering Crypto Trading

Cryptocurrencies need no introduction. Except you have been living under a rock, you would know that cryptocurrencies have disrupted the trading world. Their intense volatility can deliver any asset class's wildest returns or the most significant losses. Many people have become rich beyond their wildest dreams or have blown all their life savings trading cryptocurrencies. Of course, there are things to do to become profitable trading cryptos. But suffice it to say that the coming of cryptocurrencies into the trading space has created a trading revolution.

A lot of cryptocurrency trading started on exchanges where the individual trader had to buy or sell the actual virtual tokens in trying to make a profit. We are introducing the platforms of forex brokers with the MT4 or MT5 offering crypto trading, including weekends. This is crypto trading, CFD style.

stands for contracts-for-difference. This means that crypto CFD trading is buying or selling contracts based on the change in the underlying price of the crypto asset and not the cryptos themselves. In exchange-based crypto trading, you only make money when you buy low and sell high. But when trading on the platforms of the forex brokers with the MT4 and MT5 offering crypto trading, you can make money from rising or falling prices. Sell high and exit low to profit from falling prices, or buy low and exit high when prices rise.

Here, we won't just talk of just any crypto CFD broker. We will discuss the forex brokers with MT4 or MT5 offering crypto trading, including weekends. We are highlighting this point because even though the cryptocurrency market is the only market that trades every day of the week, not all MT4 or MT5 forex brokers will open their platforms for weekend trading. Many stop functioning at the close of the day on Friday and are only open for the week on Sunday at 9 pm UTC. This setup will rob you of opportunities because many of the crypto market's big moves occur on the weekends. So you need brokers who won't block you from making money on weekends because their platforms are not open on Saturday and Sunday.

Contract Specifications

The forex brokers listed here offer the MT4 and MT5 platforms and feature a variety of cryptocurrencies. Most are paired with the US Dollar. You need to understand the following contract specifications around cryptos on these platforms.

1. Price Quotes
2. Tick Value
3. Minimum Contract Size
4. Leverage and Margin Requirements

Price quotes for crypto are set to two decimal places, similar to what you have for gold trading. Price changes in cryptos can occur in whole numbers and not just decimals, giving the potential for large moves on a pairing. These big money moves make cryptocurrencies the most volatile financial assets in the market today.

What is the tick value of a crypto trade? There is no single tick value for all cryptocurrencies. Some have a greater tick value than others. Bitcoin generally has the highest tick value.

One mini-lot (0.1 lots) is regarded as the industry standard for minimum contract size. Again, it is essential to remember that 0.1 lots on Bitcoin will not have the same tick value as 0.1 lots on Solana. It will depend on the crypto asset and differ from one broker to the next.

The immense volatility of cryptos and the broad trading range mean that they are the riskiest assets to trade. As such, your trading leverage will be lower than for other assets. The specific leverage and margin requirements will differ from one broker to the next.

Trading with Forex Brokers with MT4 and MT5 Offering Crypto Trading: What You Gain

What do you stand to gain when trading on the platforms of forex brokers with MT4 or MT5 offering crypto trading?

• You can profit in two directions by either buying when prices are rising or selling when prices are decreasing. Bi-directional trading is not possible on crypto exchanges, which is a major advantage.
• The fundamentals governing the crypto market are specific to each crypto.
• Bitcoin's price direction generally tends to pull assets like Ethereum, Solana, Ripple, Bitcoin Cash and Litecoin in similar directions. This can be used to pick up trade opportunities.
• You get the best of trading with the MT4 and MT5 platforms, as described in an earlier article. One of these advantages is that you can use advanced graphical objects and indicators to perform analysis, something that many crypto exchanges do not have.

Best Practices When Using Forex Brokers with the MT4/MT5 Offering Crypto Trading

Crypto CFD trading provides the best potential for reward because of the immense volatility. A well-timed trade that leads to the wild gains commonly seen in the crypto market can make the trader a lot of money. But they can also be a trader's ruin if mistakes are made. The trader needs to ensure that the best practices are followed to the letter so that you rake in gains and not losses.

A) Proper Risk Management

The only way to survive the intense volatility of crypto trading is to practice very sound risk management. The crypto CFD market is not a place to attempt colossal home runs in one or two trades. You will likely be stopped out or get your account blown if you try it. Ensure you stick to proper risk management principles such as proper position sizing and well-calculated stop loss and profit targets.

B) Avoid Overnight Positions

Crypto CFD trades attract commissions as well as spreads on some platforms. You will pay a swap fee if the position rolls over to the next day. Swap fees on trades held for several days at a stretch can accumulate and put your trade in a position where you will struggle to recover the swap fees instead of aiming for gains on the trade. The way to avoid this is to try to take trades that will not need to be left overnight.

C) Get an Authentic News Source for Your Crypto Market News

Unlike in the forex market, cryptos have no economic news calendar. News sources of happenings on each crypto that serve as a fundamental trigger for price movements are hard to come by. You may have to depend on squawk news boxes or social media channels for your news. Have a way of verifying which is real and which is fake.

D) Understand the Fundamentals Behind Crypto Price Movements

Know what moves crypto prices. For instance, a new project may require users to purchase Binance Coin, Solana, or another token to buy into their initial offering. The secondary demand could play a part in causing the price of BNB or SOL to rise. This is an example of how to use correlated information to trade. You must know how such correlations work and how you can extract and use that information in setting up profitable trade positions.

E) Maintain a Well-Funded Account

Cryptos are so volatile that you need a well-funded account to handle the volatility. Margin requirements for crypto trading are the highest of all asset classes. Ensure your account is well funded and able to withstand any price shocks brought about by market volatility.

Conclusion

Now that you have been introduced to what crypto CFD trading entails, we present a list of forex brokers with the MT4 and MT5 platforms offering crypto trading, even on weekends. Go through this list and see which ones will give you a pleasurable crypto trading experience. Enjoy true 24/7 trading by opening an account with these forex brokers.