How the pandemic affects our business operations
We hope you and your loved ones are safe during this unprecedented time. As the COVID-19 pandemic continues to spread, we want to reassure everyone that you can expect business as usual at XBTFX. With the surge of global market volatility, we’ve had record volume, client signups and deposits whilst, XBTFX departments operate from remote office centers in several countries and employees can work remotely from home. Our operational capability remains unaffected by the pandemic and increased business.
In light of recent crypto volatility, we advise and remind traders to remain vigilant of leverage and the impacts of using crypto as collateral to trade when crypto prices are changing dramatically. When using BTC as a base account to trade forex while the price of BTC decreases, open positions that have a floating loss in BTC will see the loss amount in BTC increase as the price of BTC falls because the loss of an open position is converting from fiat to BTC in real-time. This dynamic is important to monitor in conjunction with account margin levels at all times.
We offer Tether (USDT) and USD Coin (USDC) MT5 accounts should you wish to avoid crypto base account currency volatility. To enable USDC or USDT you must verify your account with an ID and proof of address. Users can exchange crypto at any time to USDT or USDC for use in Metatrader 5 within the XBTFX interface.
We're here to help, If you have any questions about this or need assistance with your account please contact [email protected] .