Similarities and Differences Between Trading Forex and Cryptocurrencies
Yes, trading is trading, they say.
However, trading would quickly become a bad experience regardless of experience if one doesn't do their homework.
Over the past few years, there has been enhancement in crypto trading, and the gap—from an experience point of view—is being narrowed with each passing day.
All the same, Forex and cryptocurrencies are influenced by supply-demand factors. There must be buyers and sellers for price discovery.
In that case, while there is a liquidity gulf between the two, both can be traded via MT5. The latter is a popular trading portal adopted by hundreds of thousands across the world. CryptoAltum supports the trading of Forex and cryptocurrencies through MT5.
One major difference is the regulation aspect between the two asset classes. While Forex brokers and some reliable crypto portals like CryptoAltum are regulated, cryptocurrencies can be traded via unregulated ramps.
The presence of decentralized exchanges like Uniswap, for example, can allow traders to swap tokens with a few that even supports derivatives trading. However, this absence of regulations could sometimes lead to trader exploitation, a disadvantage discouraging participation.