What is Bitcoin?
Bitcoin is a global form of digital currency. Unlike traditional currencies, which were frequently backed by gold and silver, bitcoin is based on distributed computing. While traditional currencies are printed by central banks, bitcoins are created or "mined" by distributed computer networks.
Bitcoin differs from traditional currencies is that it is decentralized, meaning that it is not controlled by any single institution. As a result, miners around the world create new units of the currency and confirm its transactions.
Why Trade BTC/USD with FXCM?
How does the Daily Margin Update work?
BTC/USD Margin Requirements are updated shortly after market open (Sunday 18:00 ET) and then updated daily during the market break (Between 16:45 ET to 18:00 ET Daily).
BTC/USD is currently leveraged at 2:1 and the new margin requirement will be the equivalent of half the notional value of 1 contract at 5pm EST.
For example if the BTC/USD rate is 8000.00 during the market break, the Margin Requirement for one contract will be updated to $40.00 USD BTC/USD is a volatile instrument and in the event that there is a significant intraday market move, margin requirements may be updated intraday.
What happens if I have a position open on the expiration date?
Clients that hold an open position at the time of an FXCM expiration will have their positions closed at our rate during the market break.
When BTC/USD expires, all pending Entry orders and Stop/Limit orders that are associated with the expiring contract will be cancelled. To continue trading BTC/USD clients will need to re-establish another position after the expiration and reinsert Stop and Limit orders to the new open position.