Crypto Facilities: Financial Conduct Authority Trading Exchange?
What Is Crypto Facilities?
Crypto Facilities is a platform that enables cryptocurrency futures trading. This means if you are a miner looking to hedge your exposure, you can use this platform. The Financial Conduct Authority (FCA) oversees the platform. Crypto Facilities headquarters are in the United Kingdom.
Crypto facilities support the trading of Bitcoins with its newly agreed symbol XBT and Ripples XRP futures trading. The popular futures contracts are XBT/USD and XRP/USD. The platform also accepts a cross-trading of XRP/XBT. It also offers high leverage short-term Bitcoin Turbo.
The contract size of the platform should start at 1 Bitcoin and 10,000 Ripple. Trades after maturing on Friday, are settled the following week on Wednesday.
Crypto Facilities Conduct Authority Trading Exchange Features
The leverage ratios are different in regard to the trading instrument used. The classic Bitcoin is traded at 1:6 while the Ripple future is traded at 1:8. The turbo Bitcoin contract is traded at 1:50, which is very favorable as the derivative is based on cryptocurrencies. The XRP/XTB maximum leverage is at 1:5. Margin netting is available between long and short positions if you are trading from the same margin portfolio.
There are other digital assets derivatives on the exchange. Bitcoin and Ethereum are the most popular, and the exchange also offers Litecoin. These assets are linked to their current price and not their future value.
Fees on the exchange are charged in XBT and XRP in line with the contract. Traders who are market markers, those who place passive orders in the book, trade for free. Aggressive traders who hit the first bid or ask, pay fees that vary between 0.0008 XBT and 8 XRP. However, the fees do change in line with price movements.
Mode Of Payment
Once you register your account on the Crypto Facilities, you will be given a Ripple and Bitcoin wallet to facilitate your trading. You will also decide on how many coins you will put in each of the margin wallets.
Crypto Facilities Advantages
All the client accounts on Crypto Facilities are held in segregated cold storage wallets and are backed by Elliptic that is a well-known crypto-security firm. This exchange is highly regulated and before you log in you will need to verify your identity by uploading your address and your identification. It is regulated by the City of London exchanges. Crypto Facilities is one of the most secure cryptocurrency exchanges.
Crypto Facilities is the first and only Bitcoin trading venue to insure its customer’s accounts. An A-rated insurer located in the UK insures the settlement. This ensures your funds are safe even if the exchange closes shop or something unexpected happens to the exchange.
If you want to trade in Crypto Facilities, you will have to keep your accounts in Ripple and Bitcoin. You should also transfer coins from your main account to your margin account before you begin trading. The secondary wallet will be your security wallet for any futures contract. This is essential as a form of risk management.
User-Friendly Trading Platform
The exchange trading platform is web-based with an order book and a tape on the interface to help you make the best trading decision. The exchange has a user-friendly order-placing module, which is a relief from the other modules commonly used by traditional exchanges. The interface also has an analytics section that compares the quotes of different exchanges.