FCA-Regulated, TIO Markets UK to Launch Second Phase of FX Trading Using Cryptocurrencies
TIOmarkets, a platform allowing FX trading on cryptocurrency is set to launch the second phase of trading in two weeks.
The announcement by a Swiss cryptocurrency exchange, Trade.io confirmed the launch of “TIOmarkets” an FX trading platform using cryptocurrencies. The product is developed by Trade.io to provide the users with a full-featured trading platform with a range of tradable assets. The platform will launch on May 28th after a successful beta testing period.
The process of integrating FX markets to the Trade.io exchange is set to be carried out in two major steps; the addition of cryptocurrencies on the exchange as base pairs (completed in December 2018) and registration of client accounts through the FCA regulated platform, TIO Markets UK Ltd.
TIOmarkets launches cryptocurrency base pairs
Trade.io is a cryptocurrency exchange that allows users to buy and sell cryptocurrencies using fiat currency. In late 2018, the exchange introduced new FX assets on the platform while integrating their services with the Meta Trading 4 & 5 and PAMM trading terminals. The firm issues their FX trading services with cryptocurrencies as the base.
Tio Markets on Facebook
Bitcoin (BTC) and Ethereum (ETH) are the earliest cryptocurrencies on the TIOmarkets platform. The two base cryptocurrencies can be exchanged with 130 forex pairs and CDF instruments such as global equities, commodities and precious metals among others.
The TIOmarkets is registered in the Caribbean island of St. Vincent and Grenadines allowing traders to legally trade using the platform. The exchange currently allows users to use BTC, ETH and its native token, TIOx, as the base currencies.
TIO Markets UK acquires Primus Capital
Trade.io acquired Primus Capital UK, another FCA regulated cryptocurrency broker and cryptocurrency professional services, in mid-2018 transforming the company to today’s TIOmarkets platform. The move is set to increase the capacity of TIO Markets traders across the U.K and Europe as well. TIOmarkets subsequently went on to become the first broker to offer FX trading using crypto assets as the base currency for deposits and withdrawals.
The second stage of the FX trading brand is set to open up the market to other investors across the world through the TIO Markets U.K Ltd. wing of the company. The firm is FCA regulated and is set to offer fiat deposits and withdrawals of crypto in the coming weeks.