The world of crypto derivatives has faced notable turbulence. There's been a sharp influx of new traders eager to leverage the crypto market's price shifts.
Yet, due to mounting disappointments in the crypto derivatives arena, traders long for a CFD provider they can trust — one where fund withdrawals are seamless and immediate. Binance, famed for its crypto derivatives, hit a snag that halted Dogecoin withdrawals. It's not the first faltering of a major exchange. Earlier this year, Binance also grappled with regulatory hurdles, resulting in a partial halt of derivatives trading across Europe.
If large exchanges falter, it's only natural to spook crypto derivatives traders. They seek a platform that ensures easy fund access and security by dealing with a licensed derivatives provider. This is where Eightcap enters the picture, offering a robust and dependable space for crypto derivatives trading.
We had a chat with Eightcap We spoke with Marcus Fetherston, Head of Operations at Eightcap, to delve into what he sees for the future of crypto derivatives and how Eightcap is prepared to support its traders.
Who is Eightcap?
Eightcap is celebrated as a premier FX and CFD broker, originating from Melbourne, Australia in 2009. It has seen rapid expansion, fulfilling the needs of retail traders globally. We're governed by multiple authorities, including ASIC, FCA, CySEC, and SCB. Our clients benefit from access to over 400 financial instruments, with more than 250 being crypto derivatives.
What attracts individuals to crypto derivatives trading given the market's current volatility?
The crypto derivatives sector has been highly volatile. Recent trends show markets moving downward and sideways, yet the rise of new coins has created opportunities to harness these wild price swings. Derivatives pose the risk of amplified losses, not just profits. Despite this, the market's current unpredictability makes derivatives trading increasingly appealing. Partnering with a stable derivatives provider is crucial. At Eightcap, we ensure each client benefits from a personal account manager available throughout the trading week for assistance.
What issues do crypto derivative traders currently encounter?
Many current market issues stem from an overly uniform product offering, limiting buyers' and sellers' options across derivative products. Further, significant exchanges offering extensive yet unlicensed products prompt insecurity. There's a push toward trading with regulated derivatives providers for safety.
We've aimed to tackle these challenges by launching one of the broadest crypto derivative selections available, making traders feel secure trading with a regulated provider. This year, we introduced over 250 crypto derivatives, incorporating numerous altcoins, crypto crosses, and indices. Our initiative earned us 'Best Crypto Broker' at the AtoZ Market awards, affirming our strong offerings. Additionally, our spreads remain competitively low, ensuring optimal pricing for our clients.
How does Eightcap's crypto derivative platform shine among peers?
Unlike many brokers, our selection includes over 250 crypto derivatives spanning coins like Dogecoin, Bitcoin, Ethereum, Solana, and more. We've integrated crypto indices and crosses for diversified speculation opportunities.
We're committed to creating a trader-friendly environment. Our minuscule spreads on derivatives are unmatched—offered for Bitcoin, Ether, Cardano, and Dogecoin, to mention a few. The appealing aspect is our withdrawal speed and a myriad of payment gateways like BTC, Tether, PayPal, and more.
Such features make us stand out from other brokers in the derivatives market. Looking ahead to 2022, we're planning substantial projects to continually satisfy our crypto derivatives clients.
With the metaverse's substantial growth, how does Eightcap address this trend for traders aiming to capitalize?
The surge in NFT and Metaverse interest has captured the attention of an increasing number of traders. With Meta (formerly Facebook) announcing plans to actualize the Metaverse, we're only scratching the surface of this immersive digital realm. Currently, virtual worlds offer events, products, and services payable in native tokens or metaverse crypto. At Eightcap, we're introducing Decentraland and AXS CFDs, both having gained massive traction recently, boasting billion-dollar market caps. We aim to enrich our clients' portfolios with Metaverse CFDs as part of creating a nurturing environment for their crypto trading endeavors.
How does Eightcap accommodate the aspirations of newcomers to the market?
Our extensive educational resources are a cornerstone of our services. We aim to arm new traders with knowledge before they start their trading journey. Our resource library encompasses strategy, market psychology basics, and crypto insights like IDOs.
Adding to this, our engaging webinars deliver essential crypto trading knowledge. We've teamed with BKForex to host CryptoFest, a globally accessible digital event. This year's inaugural event drew traders worldwide for expert advice, strategies, and insights.
What parallels exist between crypto derivatives and conventional asset classes?
Crypto derivatives share parallels with traditional assets, such as the way forex and crypto prices respond during volatile phases, creating opportunities for various trading strategies. Similar to equity CFDs, fundamentals often guide predictions of future movements. Currently, emphasis is on crypto technology and wide adoption. Passionate discussions and forum engagement propels this scene, echoing traditional share analysis.
Final Thoughts
Crypto derivative traders face certain obstacles, mainly a limited product range, unfavorable spreads, and risks associated with unlicensed providers. As a regulated broker, we offer a solution, providing a reliable environment for crypto derivatives trading, ensuring fund access and a variety of products.
