Thread: The difference between cryptocurrency and forex

Can someone explain the difference ? Both are profitable, but what's the difference ? Who is already in the topic explain please)))

You lack basic economic knowledge.

What makes you think that?

Hi. This is a rather strange question for someone who knows something about economics. Apparently, you're just starting out. The difference between Forex and cryptocurrency is the object of trade. Forex trades currencies - USD, EUR, RUR. Cryptocurrency is bitcoin, litecoin, ethereum. As a rule, the biggest users of Forex are banks, and cryptocurrency exchange - people. Also, you can trade cryptocurrency almost tax free, while Forex you have to pay. For Forex, there are 2 trading terminals MT4 and MT5, and cryptocurrency has a huge number of them. Here are examples of the most popular ones - https://smartoptions.io/top-7-crypto-trading-bots/. Good luck to you!

What is the difference between Forex and Cryptocurrency? Although both are currencies, cryptos are digital and forex is issued and regulated by governments. Forex is a much older market, and it has the highest trading volume of any global market.

Crypto trading, like forex, involves trading currencies. However, the forex market is larger and more established, while the cryptocurrency market is a relatively new player on the scene. That is why I decided to trade in forex and chose the forex broker AvaTrade. This company was founded as a result of the joint efforts of professional financiers and experts, with the aim of developing services to improve the quality of service in online trading for private traders.

in my opinion, trading on forex is much more profitable

there is a huge difference between Crypto Trading and Forex. By the way, forex still has quite a few advantages. This is both margin trading and detailed trading platforms such as MT4 or MT5, which make it possible to create and use hundreds and thousands of indicators and trading robots. On Forex, technical analysis works well, which, as you know, is adequate just in balanced markets. Also here you can view ea shares quotes and quickly conclude profitable deals