Integrated Account (BTC Based) is specially designed for traders who hold Bitcoin for a long time but want to make additional profits in the traditional financial market. Traders can use Bitcoin to deposit funds directly into the account, and the deposit amount will be displayed directly in Bitcoin and will not be converted to U.S. dollars. When you withdraw funds, you also withdraw the amount of Bitcoin displayed in your account. Therefore, if the price of bitcoin rises during your transaction, you can still get the income from the rise in assets. This is an advantage that converting bitcoins to US dollars does not have in making deposits.
When trading, the system will first calculate the margin paid for the transaction and convert it to the number of bitcoins at this time. The customer's trading account will calculate the margin in Bitcoin and participate in the trade as normal. At the same time, all floating profits and losses will be shown in Bitcoin.
For example, if you want to buy 100 shares of Apple stock AAPL^, the current price of each share is assumed to be US$300, and your account can provide 20 times the financing leverage for AAPL^ transactions, then the margin you need to pay is 300* 100/20 = 1500 USD. If you currently have 0.1 Bitcoin in your account and the current price of Bitcoin is 50,000 USD, then 1,500 USD is approximately 0.03 Bitcoin. At this time, your account will take up 0.03 bitcoins as margin, and the account margin ratio is 0.1/0.03 = 333%. (When the margin rate is lower than 100%, the position will be forced to liquidate)
It is worth mentioning that as the price of Bitcoin fluctuates from time to time, the margin denominated in Bitcoin will also fluctuate accordingly. We will re-determine the required margin at least 5 times per second. Therefore, we recommend that you trade with a lower position than usual. Regarding the price determination when Bitcoin is used as a margin, please refer to the BTC^ asset price in your MT5 trading account. We generally use a BTC^ * 95% mortgage rate for price evaluation.
Your Bitcoin in Seventy is only used as collateral and stored in an independent wallet in a virtual currency trust company authorized by the New York Monetary Authority. The deposits and withdrawals of the Integrated Account (BTC Based) must be Bitcoins, not other types of currencies.
Please note that the base currency amount in the MT5 trading account or Trader Office will be in mBTC (milliBTC, ie BTC 1 = mBTC 1000), although it may be displayed in BTC.