IG Index – First Binary Options Broker to Accept Bitcoin
IG Index, a famous financial service provider, announced the launch of a new Bitcoin binary options trading service. With this new trading service, traders will be able to bet on the movement of the Bitcoin trading market from May 31st. IG Index is the first company that offers Bitcoin binary options trading to its traders.
After Bitcoin attracted huge media attention recently, a lot of forex and binary options brokers have shown interest in letting their traders to choose either using Bitcoins as a currency for trading or trading directly on the movement of the Bitcoin trading market.
IG Index – the First Provider of Bitcoin Trading
When the value of a Bitcoin reached record-breaking highs and attracted a lot of media attention, some weeks after IG Index announced that this financial service provider would start offering binary trading services on Bitcoins. Traders who are registered at IG Index are able to bet on the movement of the value of a Bitcoin in US dollars. The expiration date for all contracts will be May 31st. This enables traders to predict the changes in the value of a Bitcoin at very high accuracy.
Effect on the Binary Options Business
It is a matter of time until binary bets on Bitcoins are offered for the first time. The decision made by IG Index to offer this type of trading will influence other brokers to do the same.
IG Index is not the type of traditional binary options broker. As a result, the new Bitcoin binary contracts which have a long expiration date may not be favored by most traders. When all other binary brokers decide to offer Bitcoin trading, however, all this would change. Especially, brokers like 24Option and iOption are announcing to go after the changes.
Trading on Bitcoins will be similar to trading on any normal asset offered in binary options when regular brokers decide to offer Bitcoin trading. Traders will be able to freely decide on the size of their investments. Also the expiration dates will be much shorter than current ones.
The services offered by IG Index itself are expected to be upgraded in the near future. However, at the moment this company’s main focus is probably evaluating the initial reception of Bitcoin binary options trading.
About IG Index
IG Index, a financial service provider, offers its traders with various types of online trading choices like spread betting, forex trading, options trading, stock trading and more. When it comes to online financial trading services, IG Index is a real one-stop-shop. IG Index is owned by the famous UK-based IG Group – one of the biggest financial service providers worldwide. IG Group has 3 main brands: IG Index, IG Markets and NADEX. IG Index, as mentioned above, is the company’s forex, stocks and options trading service brand.
IG Markets, the groups CFD trading brand, offers quality CFD trading services on various platforms including those that are compatible with mobile devices. IG Group also own the famous American binary options exchange NADEX. All of the brands that are operated by IG are regulated and licensed in the jurisdictions where they operate. Read more about IG at Forex Brokers Reviews.