Important information: please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek advice. Tax rules can change and the value of any benefits depends on individual circumstances.
Monfex, a revolutionary automated cryptocurrency trading platform, has entered the market and promises to transform anything related to trading in cryptos. The platform uses various cryptoassets which are purely traded against the US dollar. Distinctively, users can only fund their accounts on this platform using Bitcoin. Due to the advantages of low commissions, high leverage, user-friendliness, and diversity in the coins accepted, the platform is a good choice for profit-seeking traders.
Only the following cryptos can be traded: Bitcoin, Litecoin, Zcash, NEO, Ethereum Classic, Dash, Bitcoin Cash, Ripple, Ethereum, Monero, EOS, and OmiseGo. As stated, all these currencies trade against the USD.
Quick and Stress-free Account Set-Up
The entire procedure of setting up an account with Monfex is not only easy but also quick. All that is required is an e-mail address, full name, and country of domicile. Once an account is set up, users receive a unique address to be used for receiving bitcoins when loading the account. The full process barely takes 15 seconds to be completed.
Effortless Account Funding
The process of funding your Monfex is uncomplicated because you only use your unique address to deposit Bitcoin. After successfully depositing your bitcoins into the unique address, you will promptly be notified of credit in your bank account. You will then give the Bitcoin network some time to finish the transfer, and your assets will be in your account. No deposit fee is charged, only the Bitcoin network charges a slight transaction fee.
Unsophisticated Trading Procedure
Traders accustomed to complicated trading procedures on other platforms will marvel at the ease of trading on Monfex. The platform offers a 50x leverage that a trader can use to up his stakes. Simply use a fraction of your coin and leverage it to try and maximize profits. (You can also lose your cryptoassets if the market moves in the opposite direction).
If you want to withdraw funds, you need to fill out a brief form, enter your wallet address and the amount required, and give the platform 24 hours to allow for processing. No withdrawal fee, except a transaction free from Bitcoin network, is charged.
The spreads and commissions on the platform are quite tight. Bitcoin commission charges are 0.075% while those for Ethereum, Litecoin, Bitcoin Cash and Ripple are 0.15%. The other supported digital coins have a 0.20% commission. As for long and short trades, the financing rate will be – 0.068%.
Your deposits on the Monfex platform are safely secured in a cold wallet that you can augment with a two-factor authentication procedure. Also, despite the leverage you use, Monfex ensures that you don’t lose all your deposits.
Direct Access to Account Reports
The platform enables users to view their account positions within the platform. They can also access their account statements whenever they want.
Conducive Trading Conditions
Users don’t have to be worried before trading because, with a 0.01 BTC trade size, they can start trading. Additionally, users on Monfex have access to 200 trades on a 24/7 basis.
The platform provides features, such as sell limit, sell stop, buy limit, or buy stop to help traders mitigate risk while capitalizing on profits.
Provision of Relevant Information
Traders using the Monfex platform can access a blog providing market news and information that has implications on financial strategies. Additionally, the platform offers some analysis which is useful in formulating a winning strategy.
Provides Tutorials to Traders
When using Monfex, first-time traders should not be worried about the jargon used in trading. The platform not only defines the jargon but also, using examples, enables traders to understand how to trade. Moreover, the platform trains users on the “How to” of trading by touching on all important aspects of cryptocurrencies.
As if the trading platform isn’t enough, the platform has an online trading academy that teaches on diverse topics. Through tutorials, users are enlightened on how to effectively use both the mobile and web platform to trade. The enticing aspect of all these products is that they are all free!
To get more information on the Monfex platform, visit us at https://www.monfex.com/.