| Online Broker | Minimum Deposit | XRP CFD Trading | XRP Trading Platforms |
|---|---|---|---|
| AvaTrade | $100 Minimum Deposit | AvaTrade provides 24/7 Ripple CFD trading on MT4, MT5 and its user friendly Web Trader and AvaTradeGO mobile app XRP CFD Trading | MT4, MT5, Web Trader, AvaTradeGO XRP Trading Platforms |
| IronFX | $50 Minimum Deposit | IronFX offers Ripple CFD trading on MT4 XRP CFD Trading | MT4 XRP Trading Platform |
| Pepperstone | $200 Minimum Deposit | Pepperstone provides 24/7 Ripple CFD Trading on MT4, MT5, cTrader and TradingView XRP CFD Trading | MT4, MT5, cTrader, TradingView XRP Trading Platforms |
| ThinkMarkets | None Minimum Deposit | ThinkMarkets offers Ripple CFD trading on MT4, MT5 and its user friendly ThinkTrader platform XRP CFD Trading | MT4, MT5, ThinkTrader XRP Trading Platforms |
Ripple CFD Trading on MT4
The brokers offer CFD trading in the cryptocurrency Ripple (XRP), on the MT4 trading platform.
Briefly, what is Ripple ?
It depends on what part of Ripple one is talking about. Ripple is a company, Ripple (XRP) is a cryptocurrency and the XRP Ledger is a distributed electronic ledger used to processes payments in XRP. Ripple the company exists to provide enterprise solutions involving the XRP Ledger, and has produced a number of products to do this.
What is MT4 ?
MetaTrader 4 (MT4) is a platform which supports both discretionary trading, where the trader makes their own trading decisions and automated trading, where a computer program makes the decisions, based on a set of executed rules or algorithms. For discretionary trading, MT4 offers a range of charting tools and technical indicators.
For automated trading, MT4 provides executable trading algorithms called Expert Advisors (EAs). These can be run from the trader's computer. If the trader wants to run these programs 24/7 even when they are offline, they can use what is termed a Virtual Machine, where the programs run on another server. This is called a Virtual Private Server (VPS). Reasons to do this also include potentially increasing reliability and decreasing downtime. Hence with MT4, the trader can potentially run programs which execute trades in Ripple CFDs, as well as make their own (discretionary) trading decisions.
How is a Ripple CFD different from the cryptocurrency Ripple ?
A Ripple CFD is based on the price on the cryptocurrency XRP, which is traded on exchanges around the world. Brokers may use a volume weighted average to determine the price of the CFD. The idea is to allow the trader to trade the cryptocurrency, without owning it, as they are speculating on the price movement of the cryptocurrency via Ripple CFDs.
