Middle East Trading Firm adds Bitcoin Cash, Ripple, Litecoin

According to the latest news from ADS Securities, OREX users can trade Ripple, Litecoin and Bitcoin Cash in addition to Bitcoin and Ethereum
05 April 2018   435

Abu Dhabi-based ADS Securities is the largest brokerage by volume in the Middle East and one of the fastest growing forex and investment companies globally. It provides sophisticated forex, bullion and commodities trading solutions to institutional and private investors. 

ADS Securities is a leading multi-market institutional FX brokerage, and currently it offers four trading solutions for institutional clients:

  • OREX Optim: new generation platform for FX and derivatives trading
  • OREX Pro: specialist institutional platform for FX trading
  • OREX Direct: FIX solutions across all platforms
  • OREX Match: liquidity matching solution

ADS Securities has been expressing interest in cryptocurrency market and trading, and previously it allowed Bitcoin and Ethereum currencies on the platform. According to the latest news from the firm, OREX users can now also trade Ripple, Litecoin and Bitcoin Cash.

Cryptocurrencies have been making waves for some time, however now that understanding of the market is growing, we believe it is the right time to introduce more coins on to our OREX Platform.
 

Jason Hughes

Head of Retail Sales, ADS Securities

TheHead of Retail Sales at ADS Securities stated that flexibility of CFDs allow users to take long or short positions, helping their management of exposures and positioning during the current volatility in these markets. Traders do not have to setup crypto wallets or deal with exchanges which makes their lives a bit easier.

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   95

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.