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| Symbol | OMGUSD |
| Name | OMG Network vs US Dollar |
| Quote Currency | USD |
| Trading Hours | 24/7 |
| Spread As Low as (Quote currency) | 0.0015 |
| Commission | No |
| Contract Size (Per Lot) | 1 OMG |
| Minimum Contract Size (Lot) | 0.01 |
| Minimum Step Size (Lot) | 0.01 |
| Leverage Up To | 1:100 |
| Limit and Stop Level | 0 |
| Execution | Market |
| Trading Platform | MT5, Mobile App, WebTrader |
| Sector | Crypto |
ZERO Deposit Fees
Choose from multiple (15+) deposit options such as Skrill, Neteller, Visa/Mastercard, Crypto, Local Bank and others with zero fees.
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Trade CFD's (1000+) on a wide range of instruments including Forex, Shares, Commodities, Indices, Precious Metals, Cryptocurrency and Energy.
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Trades are executed through liquidity engines in LD4 and access servers in Asia, Europe and Africa.
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With the rise and dominance of Ethereum as a platform for decentralized applications (dApps) and smart contracts, scalability and transaction cost concerns have become more pronounced. Addressing this conundrum, the OMG Network, formerly known as OmiseGO, emerged with a solution to expedite and reduce the cost of transactions on Ethereum. As a layer-2 scaling solution, and with its native token, OMG, this network has garnered attention in the Contract for Difference (CFD) trading arena. In this exposition, we explore the nuances of the OMG Network and its implications for CFD traders.
Founded in 2017, the OMG Network’s vision is anchored in enhancing Ethereum’s scalability without compromising security.
It achieves this by batching multiple transactions into a single transaction on the Ethereum mainnet.
MoreViable Plasma
OMG Network employs a unique Plasma architecture known as MoreViable Plasma (More VP). This enables faster and cheaper transactions by bundling multiple transfers into a single Ethereum transaction.
Decentralized Exchange (DEX)
An integral part of the OMG Network's original vision was to host a decentralized exchange. This DEX would facilitate seamless exchanges between fiat money and digital assets.
OMG Token
The native utility token of the OMG Network, OMG, was initially envisioned for staking and validation purposes. Holders of the OMG token can validate transactions and earn rewards.
Security and Finality
By periodically submitting proofs to the Ethereum mainnet, the OMG Network ensures transaction security and finality.
The OMG Network’s approach to scalability and its integration with Ethereum makes the OMG token an intriguing asset for CFD traders. They are watchful of:
Network Adoption: As the adoption rate of the OMG Network’s layer-2 scaling solution grows, the dynamics of the OMG token could see fluctuations, offering CFD trading opportunities.
Partnerships & Collaborations: Strategic alliances or collaborations with other projects or financial entities can have a direct bearing on OMG’s market value.
Ethereum’s Performance: Given that the OMG Network’s value proposition is deeply tied to Ethereum’s scalability, any significant changes in Ethereum’s performance can impact the OMG token’s market perception.
The OMG Network, with its commitment to resolving Ethereum’s scalability issues, represents an evolution in blockchain optimization. It exemplifies the blend of innovative solutions with practical applications. For CFD traders, the OMG token serves as a window into the world of layer-2 solutions, merging technological advancements with market speculation.
Start trading OMG/USD crypto CFD now!
CFDs enable traders to capitalize on price movements in both rising and falling markets. They also eliminate the need for wallets and concerns about security, as you don’t own the actual cryptocurrency.
Yes, CFDs allow you to speculate on both rising and falling markets, enabling short selling if you anticipate a drop in the OMG token price.
Begin by selecting a reputable broker that offers OMG/USD CFDs, such as Baxia Markets. After setting up and funding your account, you can start trading based on your analysis and strategy.
Like most cryptocurrency-based CFDs, OMG/USD can exhibit significant volatility due to market sentiment, news, and developments specific to OMG Network.
Generally, cryptocurrency CFDs can be traded 24/7. However, brokers will varying trading hours. Here at Baxia Markets, we allow our clients to trade OMG/USD anytime 24/7.
Stay updated with market trends, OMG Network news, global economic factors, and have a well-defined trading strategy with clear risk management measures.
The success, technological developments, and adoption of the OMG Network can significantly influence the value of its associated token. Positive advancements can raise the token’s price, while negative news can bring it down.
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Risk Warning: Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Baxia Markets, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing the entirety of your initial investment). You must assess and consider them carefully before making any decision about using our products or services.
Baxia Global Limited is a company registered in Seychelles with registration number: 8426970-1, and is regulated by the Financial Services Authority of Seychelles with License number: SD104.
Baxia Limited is a company registered in The Bahamas with registration number: 177330 B, and is licensed and regulated by The Securities Commission of The Bahamas (SCB), (SIA-F234).
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