Japan, one of the most developing countries in terms of crypto regulations is once again presenting a lucrative opportunity to the investors.
This time the Japanese financial giant SBI holdings (the Strategic Business Innovator Group) is going to launch a contract-for-difference (CFD) service for top cryptocurrencies namely Bitcoin (BTC), XRP (XRP), and Ethereum (ETH).
The Tokyo, Japan-based financial services company SBI FX Trade Co., Ltd, subsidiary of SBI Holdings, starting virtual currency trading vertical for CFD from Aug 31st, mentioned in an announcement via the official website.
Reportedly, with the launch of CFDs trading, SBI FX Trade has become the1st specialized forex exchange in Japan offering CFD trading service for crypto assets comparing to Monex Securities which also launched CFD services on its securities platform in July catering Bitcoin, Ethereum, XRP, and Bitcoin Cash (BCH).
On Aug 31st, President Yukio Fujita is going to open the trade and sell FX from 7:00 AM. From Aug 28, the registration is open for the new accounts.
A Few Good Features in SBI FX Trade For CFDs
The release mentions that investors can easily take leverage up to twice as high while trading in CFDs for cryptos. Though, required to deposit the margin money the same as derivative trading.
However, 15 Yen is the minimum order quantity and the maximum open position can be up to 500 BTC in the case of BTC/JPY. For others not defined.
The good part is a platform offering trading services in CFDs throughout the year i.e., 365 days including Saturday and Sundays, 24hrs a day.
The supporting virtual currencies are going to be available for trading in YEN and the U.S. dollars, thus offering is available in 6 pairs.
The trade is possible both on the web and app. Additionally, one more app called “smartphone application” devoted to “Cryptographic assets CFD” (iPhone and Android) has been released along with the account opening.