FXCM and Bitcoin: Apr 27 2016

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forex brokers

 

FXCM has very recently added a Bitcoin information page, and yes, this IS a fairly big deal. First off, why would FXCM create a detailed Bitcoin information page unless they were going to be supporting the market? If they are going to be supporting BTC trading then what potential impact would that have on the market place?

 

The chart above shows FXCM as the #3 ForEx broker in the world. Though this particular chart shows daily volume near $12Billion USD they have gone beyond $15B a day. If just 1% of FXCM’s daily trade volume entered BTC that would mean upwards of $120M a day of trading. To put that into perspective Bitfinex only did $22M today and was under $10M while altcoins were in a bullmarket. Time will tell if this is the next step of institutional adoption we have been waiting for. At a glance I would say it is.

 

 

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