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Beginner’s Guide to Review 2019 – Is it Safe? Pros & Cons has a great deal of experience in the global currency markets, having been founded in 2001. The broker is a global market leader that prides itself on providing traders with superior execution and offers competitive, transparent pricing and a wide range of tools to help them succeed. has a great deal of experience in the global currency markets, having been founded in 2001. The broker is a global market leader that prides itself on providing traders with superior execution and offers competitive, transparent pricing and a wide range of tools to help them succeed.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


The parent company of is GAIN Capital Holdings Inc., which is listed on the New York Stock Exchange as GCAP. GAIN Capital is publicly traded and meets the highest available standards of financial reporting, disclosure, and corporate governance. To get an idea of the size and reputability of GAIN Capital, consider the company’s key financial data for Q2 2018. There were total assets of $1.475 billion, a total customer equity of $920.4 million, an available liquidity of $344.3 million, and a minimum regulatory capital requirement of $108.9 million.

The founding of GAIN Capital took place in 1999 with the mission of giving traders low-cost access to the foreign exchange markets. Now, the company provides more than 140,000 institutional and retail investors access to exchange-traded and OTC markets, with clients in 140 countries. In addition to, GAIN Capital is the parent company of City Index. It also has a futures group that delivers access to the major derivative and commodity trading on more than 30 global exchanges. The headquarters of GAIN Capital is in Bedminster, New Jersey, and the company has more than 800 staff members in the Asia Pacific, North America, and Europe. Advantages prides itself on operating in an environment that is highly regulated and includes strong oversight into both trading practices and execution. will not adjust the execution speed or price of trades. This forex broker also never picks and chooses which trades to accept. All trades are executed accurately and quickly.



Additionally, stands behind all its trades. The broker is a market maker, so it does not outsource the responsibility to a third party. Instead, will directly address any concerns or questions following a trade directly. Account Signup

To open an account with, simply fill out the form online. You will need to submit a valid, nonexpired photo ID that was issued by the government. This will be used to confirm the residential address, date of birth, and name listed on the application. If the ID you submit does not provide residential address verification, you will need to submit a separate document as proof of residence, such as a bank statement, utility bill, or credit card statement from the past six months. The simplest method of submitting these documents is to upload them via the website. Alternatively, you can mail or email your documents. In the case of a joint account, you need to submit the required documentation for each account holder.

Account Signup

Account Signup

To open an account, requires a minimum deposit of a minimum of 50 units of your base currency. However, it suggests depositing a minimum of 2,500 units, so you can have better risk management and flexibility.

What Types of Accounts Does Offer?

To appeal to a range of traders, offers two main account types. Standard Accounts deliver ultra-competitive spreads without any commissions on forex trades. The cost of the trade is already part of the spread. The other option is a Commission Account, which delivers the tightest forex spreads offered. This includes EUR/USD from 0.2 plus a commission of just $5 for each 100,000 on forex trades. It is important to note that this latter account is not currently available for use on MetaTrader, so if you opt for a Commission Account, you will need to use the platform instead. However, it will be available with MetaTrader soon.

Once you open a Standard Account, you cannot change it to a Commission Account or vice versa. However, if you already have a Commission Account or Standard Account and wish to open an account of the other type, you can do so. You should also note that while there are no demos available for Commission Accounts, you can become an Active Trader with a Commission Account. Demo Accounts

As with most brokers, does offer a demo account. The main difference between this and a live trading account is that there is no risk associated with trading in a demo account since you use virtual currency. The demo or practice accounts are designed to help you become familiar with the types of trading offered on, as well as the platform and trading tools.

Demo accounts last for a full 30 days following your signup, giving you more than enough time to hone your skills. At the moment, does not offer the option of renewing a demo account, something which some competitors do.

Demo Account

Demo Account

Account Deposits & Withdrawals offers several funding options for accounts. You can use a credit or debit card or opt for a wire transfer. Withdrawals are done via the same method as funding due to legal regulations. Asset Coverage provides clients with access to currencies, Cryptocurrencies, shares, equity indices, metals, and commodities. Those who opt to use the proprietary trading platform get access to 84 currencies, 220+ shares, 17 equity indices, 10 metals, and 11 commodities. Those using MetaTrader 4 will not have access to shares. However, they also will have access to 84 currencies, 17 equity indices, and 10 metals, with the number of commodities reducing to seven.

Additionally, offers Bitcoin trading, with the ability to trade against USD, AUD, EUR, and GBP. You can go long on fractional Bitcoin in 0.1 increments, and this method lets you speculate on Bitcoin volatility without having to own the cryptocurrency.

The margins available on are up to 200:1, depending on the market that you are trading. The minimum trade size is 1,000 units.

What Platforms Does Offer?

To appeal to all trading styles, offers several different trading platforms for clients to choose from. The proprietary platform from is award-winning and has been optimized to appeal to forex traders. It delivers high performance and advanced tools and is available as a mobile application for Android or iOS, as a browser-based interface, or as a desktop application.

Alternatively, traders on can use MetaTrader 4. is not only one of many brokers to use MT4 but also the largest MT4 broker based on active MetaTrader servers for each broker.’s MT4 is fully optimized to include automated order rules, exclusive commentary and research from, and advanced order functionality. It only takes a single download and is always in sync and fully loaded.

The Trading Platform

There are three versions of the proprietary trading platform. The advanced trading desktop platform is ideal for serious traders who have expertise and want sophisticated analytic tools and trading features. This platform includes dashboards that are highly customizable and the ability to set your trade preferences. There are also powerful charting tools and extensive drawing tools. The advanced trading platform also has advanced analytic tools with integrated trading strategies that include hundreds of predefined indicators you can use. Alternatively, you can create your own indicators. Toggle as well as zoom between 15 different time frames.

Web Trading Interface

Web Trading Interface

There are also more than 100 templates that you can choose from for trading strategies integrated right into the platform, with the ability to create your own or customize a different one. The Development Studio supports Visual Basic, .NET, and C#. Enjoy multiple order types, including advanced orders, like guaranteed stop loss orders or trailing stop orders. This platform also includes hedging tools, partial close functionality, integration of FX trade signals, trained market strategist, and market analysis.

The web platform has been optimized to maximize speed, reliability, and performance across browsers. It also includes integrated trading tools as well as analysis and market commentary. There are more than 50 drawing tools, more than 70 technical indicators, and advanced charting features. The web platform from allows for seamless account management, including funding and withdrawal. You can enjoy layout personalization and smart trade tickets that let you set orders based on pips, price, or P&L and view figures at a glance.



Finally, the mobile trading platform delivers the full trading experience, including the ability to use multiple order types. This application integrates the analysis, market commentary, and news. It also features real-time alerts as well as notifications. You still get the advanced analysis and charting tools, as well as advanced risk management options and integrated fund management.

MetaTrader 4 Platform

The other platform offered by is MetaTrader 4, which is among the most popular trading platforms in the world. As such, it is easy to find support and more information on this trading platform. Trading with on MetaTrader 4 gives you access to the largest MT4 broker in the world, so you can enjoy unique trader tools, exceptional trade executions, ultra-tight spreads, and a trusted broker.

In addition to the features of the standard MetaTrader 4 platform, those with accounts also get fully integrated research from, news from Reuters, Autochartist Trade Ideas, account management tools, and technical analysis from Trading Central. Other exclusives to is the ability to get a cash rebate of up to 15 percent each month, as well as waived bank wire fees.

Meta Trader

Meta Trader

This platform even includes free VPS hosting for qualified customers. To qualify for free EA Hosting, you must keep at least $5,000 in your account and execute a minimum of 10 round-trip mini-lots or the equivalent each calendar month. This hosting is done on a secure professional server and is specifically for hosting Expert Advisors. This feature makes it possible to maximize uptime when you run your EA 24/6 in trading hours since they run on a dedicated Unix server. Other on MT4 include as much as 1.5 percent APY on the average daily available margin and one-on-one support from trained market strategists.

The MT4 platform delivers real-time account data without any third-party bridges. It also supports the use of all expert advisors in an EA-optimized environment that does not rely on auto sync or third-party bridges and offers micro lots (1,000). MetaTrader 4 includes support for multiple devices, including tablets and smartphones from Apple, Android, and Windows.

Quick Trade Executions claims to be a leader in terms of trade execution, and this online broker has the statistics to back it up. In January 2011, was the very first broker to introduce their Execution Scorecard. It is still the only U.S. broker that discloses its execution quality, a level of transparency you will not find from competitors.

Sharing this data is important to, as the broker understands that fast trade execution directly affects the success of clients and always strives to deliver the best possible experience. Impressively, 99.34 percent of trades on are executed in less than one second, a figure that includes all instant execution and market orders. The average execution speed is just 0.06 seconds, which counts the time between the receipt of the market order and its execution. Additionally, 99.98 percent of all trades have been successfully executed, including valid market, limit, stop, and instant execution orders.



In addition to displaying the statistics related to execution, has done what it can to automate trading to deliver lightning-fast trades that deliver the price that you expect to get or a better one. For limit orders, 52.82 percent of orders are executed at a price that is better than the one requested by traders. One-hundred percent of limit orders are executed at either the requested rate or better. The average improvement for each limit order is 1.06 pips, which is the difference between the requested price and the one that was executed on limit orders where the price improved. This figure does not include situations when the same account placed multiple limit orders at the same price for the same instrument. Fees always aims to ensure its pricing is competitive and clear without any small print or complicated schemes. The broker has spent over a decade working to create a network of partners with liquidity and invest in technology, which has led to it being able to offer tight spreads for most market conditions. This goes along with the quick execution that offers, as the broker always executes trades as quickly as possible at the price clients expect or a better price. prides itself on offering accurate, fast pricing. Since every part of the trade process is automated, trades get executed as quickly as possible, either at the price you choose or one that is better. The technology will also automatically pass savings to you if the market moves in favor of your trade on a limit order, executing your trade at an improved price.

Instead of charging a commission, makes its profit via spreads, which you can find listed on its pricing page. For each currency pair, you can view the minimum spread, typical spread, and percentage that margins are from. For EUR/USD, the minimum spread is 1, with a typical spread of 1.3 and margins from 0.5 percent.



For indices, you can view that the spread pricing is fixed for most, then view the minimum spread, trading hours, and percent that the margin is from. As an example, the Australia 200 CFD has a fixed spread of 1 point with margins from 0.50 percent and the market open 24 hours with breaks. Pricing for shares displays the spread, commission, and margin. For FTSE 100 Shares, for example, the spread is the market with a commission of 0.1 percent at a minimum of 10 Euro and margins from 4 percent.

Commodities display spread pricing, typical spread, and the percentage margins are from. For US Natural Gas, for example, the spread pricing is variable around the market spread with a typical spread of 18 and margin from 3 percent. The same information is available for each metal, with the example of copper being variable around the market spread with a spread of 40 and margin of 1 percent. Rollover Rates

When you hold positions overnight, it is important to consider rollover rates, as they can impact the bottom line.’s roll rates are among the most competitive in the industry. This lets the broker maintain rollover costs that are as low as possible when paying on the rollover, which maximizes the credit when earning on the rollover.

From the standpoint of the trader, this means that you can get the most competitive rollover rates within the industry. Additionally, you will always be aware of how much you will pay and earn since the rollover rates are clearly labeled on the platform. To see a rollover rate from the advanced desktop platform, just click on the “i” icon for the particular market. Active Traders

The Active Trader program is designed for currency traders who trade high volumes. These traders receive reduced trading costs by as much as 15 percent thanks to cash rebates. Those rebates are as much as $10 for each million traded. These traders also receive reimbursement on the bank fees from wire transfers. They also get one-on-one support from a Market Strategist with experience. To round it all out, Active Traders get VIP access, including previews of products and invitations to exclusive events. Qualifying for the Active Trader program occurs automatically upon opening an account with at least $25,000 or trading a volume of $25 million in a single calendar month.

The cash rebates are divided into five levels depending on the monthly trade volume, with rebates per million ranging from $3 to $10, leading to the average savings of 4 percent to 15 percent. Cash rebates get credited to the account when the following month starts. Trading Tools offers a range of complex and simple order types with top reliability and execution. There is also professional charting using the customizable indicators and drawing tools. You can even trade directly from the charts. The platform integrates analysis, trade ideas, and news, so you can enjoy actionable insights.

The proprietary platform includes integration with advanced analysis tools, including automated analysis from Recognia, Faraday, and Autochartist.

The use of Autochartist automated scanning tools includes a curated list of the trading opportunities that have the highest chance of success, a feed of current patterns in your traded markets as well as predictions, and volatility analysis.

Recognia Technical Analysis is visible via a portal, displaying short-term trade ideas that include resistance and support levels, pivot points, the reasoning for the trade, and alternatives if something changes.

Charting Tools

Charting Tools

The Faraday Research tools look at forex markets to send you short-term trading opportunities. This includes daily emails with specific exit and entry points as well as the reasoning for a trade, an integrated portal on the desktop platform, and real-time push notifications on the app.

If you wish, qualifying customers can also work with a one-on-one highly trained market strategist. Together, you will create a trading plan to meet your needs. These market strategists give you personalized demonstrations of the various advanced trading and charting tools, as well as teach you how to use fundamental and technical analysis, so you can make an informed decision. With ongoing support, they help you improve your trading performance. also offers market analysis via its website, so you can see the latest relevant news and how it will affect the market as well as analysis of specific markets.

Market Analysis has a section of its website for market analysis, which includes several subsections. The main page is for the latest research, which will show you top stories, news, and analysis related to trading. There is also an economic calendar in this section, with the ability to filter out events based on various factors. The calendar displays each event; its time; the country/currency affected; and the values for actual, consensus, and previous, as well as whether it is high, medium, or low.

Economic Calendar

Economic Calendar

You also will find live trading sessions in the market analysis section. These include 30-minute webinars led by the global analysts. They include real-time insights, market commentary, actionable trade ideas, and live Q&A sessions. These are quite simple to join, as you just fill out the registration form on the relevant page of the website.

API Trading

To remain competitive, offers API trading via its REST API. This API delivers access to live streaming prices, as well as advanced order types and trade execution. It also allows for access to more than 180 of the markets that are most traded in the world. The REST API includes full developer resources and access to the full range of currencies, commodities, Bitcoin, and shares. Use algorithms and trading systems to execute trades as well as orders.

The REST API includes automated trading strategies, so you can execute trades as well as a range of orders with live streaming prices using your trading systems or own algorithms. It also allows for integrated account management, including viewing your account balance, active current orders, the available margin, the open positions, and even your historical trades, all in real-time. The API additionally includes charting and analysis thanks to historical market data.

API Trading

API Trading

To round out all the features, the API is highly compatible. You can code against the API via any programming language that is network accessible, such as VB.NET, C++, Python, and Perl-script.

To use the API, open a account and contact the customer service team to request access to the API. From there, you can directly connect to the REST API for developing, testing, and automating trading strategies. There is also plenty of support for the API, including a documentation portal with support tools and sample code, plus an API Member Support Forum.

Alternatively, also has a FIX API that is designed for institutions that want their customers to have access to the liquidity and markets.

Introducing Brokers Program

As with many competitors, offers an introducing brokers program. Those who introduce qualified customers to the broker will earn money as those new customers trade. There are several compensation models to choose from, each of which is generous. There is also a simple-to-use partner portal that makes tracking your growth intuitive.

Education Resources offers a vast section of educational resources for traders of all skill levels. On the education resources page, you can find a quiz that helps you determine the type of trader you are. Based on that information, you can view topics that are relevant to you. Alternatively, you can click on your experience level, either beginner, intermediate, or advanced. This will take you to specific educational resources based on your experience level.

Yet another choice is to browse the educational resources by trading topics. These include managing risk, trading concepts and strategies, technical and fundamental analysis, and platform tutorials for and MetaTrader. Each of those topics has dozens of individual articles to help traders understand the concepts involved, such as “Introduction to Order Types” and “13 Characteristics of a Successful Trader.” Customer Support offers multiple methods of contacting its customer support team. There is the choice to chat with customer support at the top of any page on the website. You can also find customer support email addresses and phone numbers, both for client support and account opening.

What Is the New

In mid-September 2018, updated its service to add new markets, new powerful platforms, and other updates. This led to the addition of cryptocurrencies and shares. With those updates, added the active trader program and expanded the market offerings. It added the advanced desktop trading platform, as well as the mobile apps for improved reliability and speed. Those who opened an account before July 13, 2018, had their accounts automatically transferred over to the improved service. offers more information on the updates to the platform and offerings in its support section.

Competitors is in competition with our similar brokers which have covered before, as follows: Licenses & Regulations

The Cayman Islands Monetary Authority (CIMA) regulates under the Cayman Islands’ Securities Investment Business Law. Via affiliates, the company is also regulated in six additional jurisdictions around the world. The other regulators of affiliates include the Financial Conduct Authority (FCA) in the UK, the Financial Services Authority (FSA) in Japan, the Commodity Futures Trading Commission (CFTC) in the U.S., Australian Services and Investments Commission (ASIC), and Investment Industry Regulatory Organization of Canada (IIROC) in Canada. The affiliate is also a member of the National Futures Association (NFA) within the U.S.



Is Safe? follows the high standards that are required by the various organizations that regulate and license the broker. Additionally, the broker keeps customer deposit separate from operating funds. For further protection, these funds are distributed across the broker’s global network made up of custodian banks. All money is held in top-tier banks. There are trust letters in place that ensure the client funds always remain segregated from bank assets. The company also enforces robust bank monitoring and review guidelines set by GAIN Capital Holdings Inc.’s Risk Committee. To round it all up, never engages in proprietary trading.

Conclusion is one of the leaders in the world of forex trading. In addition to currencies, offers trading for popular commodities, cryptocurrencies, and indices. is regulated in multiple jurisdictions to provide clients with peace of mind with their funds. For further peace of mind, is a subsidiary of GAIN Capital, a large multinational company with a strong reputation which is listed on the New York Stock Exchange.

The broker offers its own proprietary trading platform for mobile and web trading which is well designed and has a myriad of options. It also has the option of using MetaTrader 4.

The site features a wealth of educational content, trading tools and other information to help get you up to speed an provide everything you need to make your trades.

As with any broker of this type, it’s not for beginners as the risk of losing money quickly is very real. We recommend testing out the free demo account and reading all the material on the site before trading with real money.


Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Ease of Use






Customer Support


Payment Methods



  • Global Market Leader
  • Regulated Broker
  • New York Stock Exchange Listed
  • Tight Spreads
  • Good Trading Platform


  • No Automated Trading
  • Not for Beginners


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Statements about Cryptocurrency

Statements about Cryptocurrency

Cryptocurrencies are in a bubble and regulators could burst this at a whim.

  • Eight years after the introduction of Bitcoin, there are now over 900 cryptocurrencies and their prices are at all-time highs.
  • Richard Schiller categorizes bubbles as an underlying story driving the market forward, as opposed to the fundamentals of the assets. Cryptocurrencies are riding on a narrative of economic empowerment and freedom.
  • Despite the widespread attention that cryptocurrency receive, many of the actors involved in the market are not fully informed. Debate tends to turn to hype and naive investors are buying crypto-assets without fully understanding what they are.
  • Banks spend 73% of the market capitalization of Bitcoin each year on regulatory compliance. Crypto-assets are currently unregulated and free of these restrictions. As such, the market has thrived but also developed some bad habits.
  • Regulators cannot necessarily shut down cryptocurrencies, but they can restrict liquidity into them from fiat currencies and hamper their growth. The global derivatives market, for example, is worth $1.2 quadrillion, dwarfing Bitcoin’s $100 billion market cap.

Statements about Cryptocurrency

Market manipulations in crypto markets are undermining their credibility.

  • Due to low liquidity, no regulation, and a lack of clear understanding of the markets, pump and dumps are widespread in crypto markets. This is where a speculator can artificially sell while concurrently buying their own currency, wait for the market to rise, and then dump their holdings.
  • Frontrunning is also a common occurrence in ICOs, where early investors—who are used to show initial faith in the enterprise—buy discounted tokens before immediately selling them on.

As with historic bubbles, scams are exploiting naive investors.

ICOs can have the characteristics of vaporware. Entrepreneurs are raising hundred of millions of dollars purely on concepts. Money is being raised from investors who do not truly understand the technical concepts being proposed to them, let alone whether they are feasible.

  • The actual asset structures of ICOs are not only complex but also new forms of assets in their own right. This further confuses investors, which is compounded by the “FOMO” mentality of rushing into investments and following the crowd.
  • The use of celebrities to promote ICOs further demonstrates the use of manipulative marketing techniques used to cajole immature investors into participating in ICOs.
  • The current ICO craze is reminiscent of the South Sea Bubble of the 18th century, a speculatory period that involved crazed investment into enterprises in the New World. Once one of the highest valued companies of all time, the South Sea Company’s bubble burst and the company disappeared almost as quickly as it appeared.

Blockchains are still not proven technology, and more work is required.

  • Blockchains are still new concepts and their technology has not yet been proven on a consumer-wide scale. Attention should be focused on developing this, not speculating on short-termist projects.
  • The security of blockchains is a concept that most investors in crypto-assets do not understand. The onus is on them to protect their assets, which, on the basis of the amount of thefts and frauds in the space, is not being done properly.

There are some solutions to these issues.

  • A less polarized mentality of “us against the world” is needed; this could be enforced by the promotion of self-regulatory standards. These could also help to highlight the bad actors in the ecosystem.
  • More development is required into the underlying technology of blockchains. In the long run, this would be far more valuable than ICO moon-shot projects.
  • Awareness and discussion needs to be promoted. Conferences should present balanced debates from both sides of the crypto-view and more emphasis should be placed on educating investors instead of soliciting their investments.

Originally Published here at

Statements about Cryptocurrency

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CMStrader Signals provider, the number 1 signal provider 4 years in a row

CMStrader Signals provider, the number 1 signal provider 4 years in a row.

CMStrader, the number 1 signal provider 4 years in a row, is now offering free signals to new clients!  Reliable trading tools are fundamental part of successful trading.

cmstrader for the Best Trading Signals

cmstrader for the Best Trading Signals


CMStrader’s signals success rate is estimated in 91% this should be enough to take a look and decide for yourself. since this is their biggest feature and drives this broker towards success, it is opretty afe to say that they do their utmost to provide you with quality forex signals.

This broker also entered the cryptocurrency market and offers several cryptocurrencies.  in short they act on the market and engage their clients directly.

when you start trading at CMSTrader, you can choose from a extended list of currencies, indices, commodities, gold and oil.

CMStrader Signals for better Trading

CMSTrader sends trading signals to traders’ accounts when there is an opportunity to buy or sell orders at specific points; an overview of the speculated price or loss ratio is included.

CMStrader Signals the number 1 signal provider among brokers

CMStrader Signals the number 1 signal provider among brokers

The signals are sent directly via SMS to a cellphone for major currencies traded on the stock exchange, foreign goods and precious metals.

In addition, signals can be sent to an e-mail address and or traders can be notified directly over the phone.  This service is available 24/5.

Like with Most proper signal services don’t expect 50 signals a day as simply there are not that many. you will get maybe a few good ones a day on which you could and most of the time should act.

Earn profits with CMStrader Signals in the forex market – the biggest trading scene in the world. Enjoy our unique benefits, trading education, minimum margin and best leverage! Start with a demo account and enter the amazing world of forex with CMStrader.

More about CMStrader Signals & Forex Broker

  • Name :CMSTrader
  • Website
  • Established :2013
  • Regulation :FSP
  • Country :United Kingdom
  • U.S. Clients Allowed ?  :No

CMSTrader is a leading investment advisor specializing in personal wealth management and growth and is a somewhat a newcomer to the Forex market.

they started in 2013 and since then have won several awards 2 including one for having best customer service in 2013.

CMSTrader “CMStrader Signals” is authorized under the name of CMS Ventures Limited which is a New Zealand Registered Financial Service Provider (FSP).

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Daily Financial News

Supreme Court Sides With Bits of Gold in Bank Dispute

Supreme Court Sides With Bitcoin Broker “Bits of Gold” in Israeli Bank Dispute

Upon appeal, the Israeli Supreme Court has rejected the closure of Bits of Gold’s banking facilities at Leumi bank, Tel Aviv.

The Israeli cryptocurrency brokerage’s appeal followed a previous ruling against it that has now been set aside by the higher court.

As Israel and many other countries struggle with the accelerated phenomenon of virtual currencies, Leumi Bank recently made the news for being a particularly blunt in its rejection of Bitcoin.

We should of course not be surprised with the banks attitude towards bitcoin or any other cryptocurrency for that matter. keep in mind that the banks become more and more obsolete because of them. Bits of gold versus leumi

They will keep on loosing money which now they make with ridiculous commissions of work that is fully automated. so they will try to see how they are able to make the operation and acquiring cryptos  as hard as possible knowing that they will never be able to stop them.

There is widespread anticipation that the upcoming G20 Summit in March 2018 will produce a global, moderate framework for a regulatory approach. Set against that are persistent hostile stances the world over from banks, asset managers and even governments towards cryptocurrencies.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane. 

Apart from the Israeli revenue service opting to tax cryptocurrency assets as “properties” and other more positive developments dating back to mid-2017, Israel remains a strange mix of genteel acceptance alongside wildly opposing voices.

There is thus Hope But no decision

Bits of Gold has fought a David and Goliath battle since their banker decided it wanted to steer clear of all cryptocurrency-related business.

On record as recently telling another bitcoin-related trader that they simply don’t want the business, Leumi Bank’s hard-line stance is accumulating bad press. The second-largest bank in Israel appears as discriminatory when analyzing virtual currency traders and other digital coin businesses.

During 2017, a customer made a bank transfer to the Kraken exchange site for buying bitcoin worth $1000. The bank identified the request, halted it, and started investigating.

The elated CEO of Bits of Gold, Youval Rouach said that “The court’s decision enables us to focus on the growth of the Israeli cryptocurrency community.”


The February 26 Supreme Court ruling granted Bits of Gold a temporary injunction against their account closure pending further scrutiny by the bank and other parties. The presiding bench declared that the company had “acted transparently and did not violate any provision of law.”

Calling the bank’s concerns “speculative” and turning an unsympathetic ear to the plaintiff, the ruling does, however, allow for the bank to still close the account on any small technical detail that defies legislation. As a record of a public spat around cryptocurrency’s right to be recognized in many ways, the ruling is seen as a victory for the local cryptocurrency community.

One Small Step Forward

Although not as absolute as nations like China that has opted for draconian bans, Israel is a front line for digital coins’ right not just to exist, but also become assets in the true sense of the word. The Supreme Court noted in its written ruling that Bits of Gold had not made itself guilty of the violation of any standing laws since opening its doors for business.


The Bits of Gold v. Leumi Bank case might become something of a test case once the bank applies its mind in scrutinizing the company’s accounts against the backdrop of existing legislation. The outcome will also be informed by sentiment post the G20 Summit due in March as well as other global regulatory trends.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane.

This was First Published by coindesk


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