Payment giant PayPal has partnered with CFD trading technology provider FDCTech to provide payment options for forex brokers on the Condor FX Pro trading platform.
The integration allows Condor FX Pro users traders to fund their accounts instantly.
A more interesting new feature is that customers are charged low transaction fees.
Additionally, it will help both parties and customers uphold the regulator’s complaint policy regarding money laundering laws.
Integration for a better introduction of the cryptocurrency
Condor FX Pro is the flagship of FDCTech. It offers professional clients an institutional trading platform as well as II-level pricing, advanced account types and proprietary charting tools.
Condor FX has been integrated into mobile terminals, web traders and desktop GUI. The parent company FDCTech was originally referred to as a foreign exchange development company. The New York-based company is known for providing a technology platform that enables the company to act as a key broker. Besides, the company has a long-term relationship with PrimeXM, the world’s leading institutional liquidity provider.
PayPal is increasing its influence in the crypto industry
The collaboration began shortly after the payment giant entered the cryptocurrency market to provide deposit and withdrawal services for cryptocurrencies.
Before widespread entry into the cryptocurrency market, PayPal took a few steps and made headlines to demonstrate its interest in the market.
Also, PayPal has shown interest in purchasing the cryptocurrency manager Bitcoin. It has also taken several steps to invest in TRM Labs, the company’s risk management and compliance platform.
The integration will be attractive to margin traders
FDCTech stated that PayPal’s decision to enter the digital currency industry had a huge impact on the industry. This leaves room for the current partnership between the two companies to make crypto payments and transactions easier and faster for users.
The company added that the use of Paypal’s wallet could prompt the use of cryptocurrencies as a source of money for global FX / Crypto trading accounts.
Given the market volatility, this trend seems to be heading in the right direction, which makes it feasible for both margin traders and speculators.