Bitcoin-denominated account only trading firm Evolve Markets has added a new account called ‘BTCUSDmicro’ to its platform for users who want fractional BTC trade sizes. 1 lot on the micro account is equal to 1 bitcoin (now priced around $1,500 USD at the time of writing).
Trades can be executed as low as 0.01 lots (around $15 USD), which is actually a decent amount, not even micro per se considering how BTC has increased in price. Accordingly, the move by Evolve Markets to lower trade sizing makes perfect sense. Users can trade at the company up to 500:1 leverage with MT4.
Evolve Markets has a registered office is in Saint Vincent and the Grenadines but operates decentralized with the bulk of its operation in Europe.
We also found out in chatting with the company, there is no plan to get regulated at this time. As a bitcoin only platform, the company benefits by being able to provide private anonymous accounts, better trading conditions while also avoiding the costs of regulatory staff and fees.
Peter Spyro, Managing Director at Evolve Markets told us:
“Our bitcoin trading is offered as a CFD derived from spot and futures thus we make the market from our order book and our providers price + order book. When a client places a trade, it first checks for matching.”
“If the trade cannot match in our order book, the trade volume is then executed in a clearing basket then routed in bulk to the provider (or multiple providers) that our hedge algorithm finds the most profitable for us to hedge with.”
“We have many well-known providers aggregated in our feed however we change them frequently depending on their market conditions and the weight of where our positions are frequently filled.”
Evolve offers a variety of contracts based on crypto assets with its most recent list shown below:
|Pairs up to 5:1 Leverage||Pairs up to 3:1 Leverage|
|BTC/USD||Bitcoin vs US Dollar||ETH/USD||Ethereum vs US Dollar|
|BTC/EUR||Bitcoin vs Euro Dollar||BTC/ETH||Bitcoin vs Ethereum|
|BTC/JPY||Bitcoin vs Japanese Yen||LTC/USD||Litecoin vs Dollar|
|BTC/CNH||Bitcoin vs Offshore Chinese Yuan||LTC/BTC||Litecoin vs Bitcoin|
|XAU/BTC||Gold vs Bitcoin|
|OIL/BTC||Oil vs Bitcoin|
For more details download the full contract specifications on crypto assets.