Crypto day traders looking to trade on the margin will have a new tool from the Liquid company, as announced in a press release this morning.
The Liquid Pro mobile trading tool is going to bring responsive design and a smartphone-friendly approach to the practice of short-term trading in cryptocurrencies and digital assets.
“Liquid Pro features a first-of-its-kind complete set of tools for margin traders, who can open and manage positions all within the app, trading with up to 25x leverage on markets such as BTC/USD and BTC/JPY,” reads a press release today describing the new app and its focus on allowing trades with leveraged funds. Functionality includes the addition of Bollinger bands and other tools to do analysis right from a mobile device. Users will also be able to track their positions on a smartphone, which the company sees as facilitating faster and more efficient transactions, making this disclaimer in the announcement:
“The mobile app is free to download globally, subject to country or region availability by Google Play Store and App Store. In Japan, Liquid users are able to use a Japan-only mobile app version called Liquid Lite.”
In terms of security, there’s biometrics features along with in an elaborate system of multi-signature cold wallets to safeguard gains, which makes sense as experts often warn users against keeping cryptocurrency funds on open exchanges.
Liquid CEO Mike Kayamori , in the announcement, said a lot of research went into the Liquid Pro offering.
“Liquid Pro was developed based on customer feedback from a broad cross-section of professional traders, who helped us identify what would be most important for them to have in a crypto trading app,” Kayamori said. “Our market research highlighted a need for pro traders to be able to more effectively, conveniently make trades and manage positions while away from a computer.”
Kayamori frames the margin trading capacity as an element of user empowerment.
“Crypto traders today want to be able to take full control of their trades no matter where they are,” he said. “This includes margin trading and being able to properly manage positions on a smartphone. Our product team worked tirelessly to build an app that would help enhance our customers’ trading experience, from receiving alerts to making market moves, anytime, anywhere.”
However, some seasoned pros warn beginners against wading too deeply into margin trading, where you essentially leverage borrowed funds to make trades, taking on outsized risks.
“Margin trading is best left to sophisticated traders and high-net worth investors who are conversant with its risks,” write analysts on Investopedia on an info page detailing the role of margin trading in today’s financial world. “The average investor will be better off investing for the long term in a cash account, rather than trading for the short-term in a margin account.”
Investors do have other platforms on which to practice margin trading for crypto, Kraken, for one, but the Liquid Pro may turn out to be handy for a growing number of users as coin activity takes on around the world.