Trader Made 295% on Cryptocurrency Derivatives like Bitcoin
As for the Bitcoin game may be up with this lovely line:
ot a week goes by without startups launching new ones to fund everything from dentistry to Las Vegas strip clubs. Even Paris Hilton is tweeting to her 16 million followers about her cryptocurrency investments. If that isn’t a jump-the-shark-moment, what is?
Very interesting article on speculative bitcoin CFDs from eToro which is another questionable broker. Here is a description of the elusive CFD i have mentioned in the past:
Unlike futures contracts, CFDs don’t trade on exchanges and are largely illiquid. Investors can suffer big losses because they have to put up only a percentage of the value of their trades on margin. While the U.S. largely prohibits retail investors from trading CFDs, regulators in Europe are only now beginning to address the peril they pose.
In June, the European Securities and Markets Authority, the European Union watchdog for capital markets, said it was concerned about the suitability of CFDs and was weighing measures to restrict their use. Combining CFDs with cryptocurrencies is reckless, said Rainer Lenz, chairman of Finance Watch, a Brussels-based public-interest organization, who serves on an advisory group at ESMA.
“We have to put a stop to this,” said Lenz. “This is selling a synthetic instrument on top of another synthetic instrument. This is the highest form of speculation. You just can’t do that to retail investors.”
NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!