FXGate, a global leader in Forex and CFD investing has recently announced it is now accepting deposits via Tether (USDT), the first Bitcoinbased, fiatpegged stable cryptocurrency built on the blockchain.
FXGate is one of the first global brokerages to accept deposits via cryptocurrencies to trade Forex, Precious Metals, Energies and Indices. Each tether issued is backed by the equivalent amount of a fiat currency unit (i.e. one Tether USDT is one US dollar). Clients will be able to send, receive and store the 1-to-1 pegged digital currency across exchanges, trading platforms, and wallets.
Chairman Ahmed Alfaraj from FXGate said: “FXGate is one of the only Forex brokers in the world currently accepting deposits in a cryptocurrency format. We opted for USDT because it is one of the most stable cryptocurrencies and has similar properties as the US Dollar. Our solid banking relationships, stringent compliance practices, and a comprehensive legal structure allows us to consistently be at the forefront of market developments and ensure we offer our clients the best trading environment possible.’’
The usage of tether does not face any pricing or liquidity constraints, in addition, traders do not face any restrictions when buying and selling this cryptocurrency. Tethers can be used in a similar, decentralized and cryptographically secure environment as bitcoins.
With USDT as a deposit method, FXGate offers a unique method of payment as FXGate is the first broker that provides its clients with stable currency funding and thus, the clients will be protected from cryptocurrency market fluctuation and volatility typically seen with Bitcoin which is widely used as a payment method. The broker has kept its deposit and withdrawal fees low for cryptocurrencies to keep in line with their other payment gateways.
FXGate Ltd. is regulated and authorized in Malaysia by the Labuan Financial Services Authority (LFSA) license number MB/19/0031 and was founded to provide traders global connectivity on a wide range of markets including currencies, commodities, and metals.
While ensuring a transparent and secure trading environment the firm provides Direct Market Access (DMA) to customers globally with deep liquidity sourced from Tier 1 Liquidity Provider’s securing competitive spreads and low latency. The investment house upholds the highest standards of customer service, with Personal Account Managers catering to clients’ needs in multiple languages 24 hours a day, 5 days a week.
Head Office – Labuan Malaysia
Office 6G (2), Level 6, Main Office Tower, Financial Park Complex Labuan, Jalan Merdeka, 87000 Labuan Federal Territory, Malaysia
Tel: +6087 599 335
Representative Office – Dubai UAE
Boulevard Plaza Tower 1 – Office 1602 Downtown Dubai, UAE
Tel: +971 4 430 6868