Early this morning of April 23 Charlie Lee, the creator of Litecoin, announced on Twitter that the online Brokerage firm TD Ameritrade is testing both Litecoin and Bitcoin trading on its platform. All indicates that soon BTC and LTC will be traded on Nasdaq
With a screen shot of his personal account, taken on April 22nd 2019, Charlie showcases the LTC-USD pair. Now only available as paper trading on ThinkorSwing. To locate the pair on the TD Ameritrade platform search for CXERX to find both BTC and LTC
The Crypto community in Twitter responded to the news with excitement. Litecoin has risen over 200% since its last bottom price of $22 dollars earlier this year. And the adoption of mainstream trading platforms will possibly open a new wave of interest in both Bitcoin, Litecoin and consequently bled into Alt-coins. As the market showcased signs of liquidity since the end of last year, confidence in Bitcoin and Litecoin will continue to grow and we can expect other brokerage firms to follow suit to compete with Ameritrade.
TD Ameritrade if a large broker with over 40 years of experience in trading. They offer an electronic trading platform for the trade of a full range of financial assets. As of October 2018 they had 11,514,000 funded client accounts and client assets of $1.297 trillion. Consequently, to have Bitcoin and Litecoin included as one of their products solidify the presence of crypto currencies in the global financial market.
According to the spokeswoman for Ameritrade, Alyson Nikulicz "We are treating the Bitcoin futures products as we would any other futures products, where we ensure the marketplace has the proper liquidity before offering to our clients." Now we know they are also looking into Litecoin next.
Few restrictions were set in place by Ameritrade to mitigate client risk, such as minimum balances in place and margin requirements. All details about Bitcoin future trading on Ameritrade can be found here. Possibly soon we will also have a explanatory page about Litecoin future trading too. For now we anxiously wait more news of this development.
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