Over the past decade, cryptocurrency adoption has moved from niche speculation to mainstream trading, sitting alongside traditional Forex in many active markets like the US and UAE.
Brokers are increasingly exploring opportunities to offer both cryptocurrency and traditional assets to diversify revenue and enhance resilience. A downturn in one market can be offset by activity in another, such as quieter currency pairs coinciding with Bitcoin volatility. However, this expansion brings complexities in technical, regulatory, and operational aspects.
This blog examines the pros and cons of a combined Forex–crypto offering, emphasizing often overlooked factors like regional regulation differences, unified risk management, liquidity sourcing, and back-office tech integration.
Forex Trading vs Crypto Trading – Key Differences
Before combining these asset classes, brokers need to understand their core differences:
Market Size and Liquidity
Forex is the largest financial market globally, with over $7.5 trillion traded daily, deep liquidity, and institutional pricing.
Crypto, while smaller, operates 24/7 with sharp price swings and fragmented liquidity across multiple exchanges.
Regulation and Security
Forex is regulated heavily in most jurisdictions, often with well-established licensing frameworks.
Crypto regulation varies wildly — some markets embrace it, others restrict it — and security breaches remain a major risk.
Trading Hours and Accessibility
Forex trades five days a week, 24 hours a day.
Crypto trades non-stop, requiring brokers to support weekend and holiday operations.
Ownership and Custody
Forex traders don’t ‘own’ currencies; they speculate via contracts.
Crypto traders can own the underlying digital assets, raising custody and insurance considerations.
First Thing Every Forex Broker Expanding into Crypto Must Consider
- Before adding crypto to your brokerage, confirm that your existing licences allow digital asset trading. If not, you may need new approvals or registrations depending on the jurisdiction.
- Regulatory frameworks differ widely; what’s permitted for Forex may not apply to crypto. Always verify product-specific licensing to avoid legal gaps that could halt operations.
- Working with specialists like Sky Option can simplify the transition by providing ready-made, compliant infrastructure for multi-asset trading.
- Crypto brings heightened scrutiny, often requiring enhanced customer verification, transaction monitoring, and stricter anti-money laundering procedures to meet regulatory standards.
Benefits of Offering Both Forex and Crypto
- Revenue Diversification: When one market is slow, the other can drive activity. This stabilises monthly revenue and protects against seasonal dips
- Broader Client Base: Multi-asset brokers appeal to both traditional traders and younger, crypto-savvy investors. Attracting multiple trader profiles increases lifetime client value.
- Competitive Differentiation: Standing out in the crowded Forex space is tough. Adding crypto can position your brokerage as forward-thinking and tech-driven.
- Hedging Market Cycles: Forex and crypto don’t always move in sync. A strong crypto quarter can offset a flat Forex period.
- Strategic Growth: Building a multi-asset operation prepares you for future markets – from tokenised commodities to CBDCs (central bank digital currencies).
Challenges of Offering Both Forex and Crypto
Running two markets means running two sets of infrastructure, compliance, and liquidity lines. Even with unified systems, operational overhead grows. The ideal setup is a single platform where clients log in once and view all positions. MT5 supports this, but many brokers prefer custom platforms with integrated CRM for better branding and flexibility.
Regulatory Challenges
- United States: The US has no single ‘crypto broker’ licence. Depending on services, brokers may need money transmitter licences, commodity licences, or register with FinCEN or the CFTC. Enhanced KYC/AML is required, and recent enforcement actions against exchanges and wallets highlight the legal risks.
- United Arab Emirates: The UAE is actively building a crypto-friendly reputation. Dubai’s VARA (Virtual Assets Regulatory Authority) and ADGM’s FSRA have clear frameworks, but brokers must align with each layer of regulation depending on where they operate.
Technology Considerations – Back Office CRM
A Unified Trading Platform enhances trader experience by providing seamless access to both markets with integrated multi-asset back ends for real-time risk and P&L reporting. Given the volatility of crypto, it’s crucial to implement robust risk management measures like instant position monitoring and auto-liquidation rules.
Additionally, effective Back Office and CRM Integration is essential for managing onboarding, compliance, commission tracking, and multi-asset reporting in one system, as offered by Sky Option.
To ensure security, brokers must enhance their existing Forex protections with crypto-specific measures, including cold storage, multi-sig wallets, and asset insurance.
Liquidity and Market Access
- Forex Liquidity: Highly centralised, with tight spreads and reliable pricing from top-tier banks.
- Crypto Liquidity: Decentralised and fragmented across exchanges. Liquidity must be aggregated for tight spreads and consistent execution, even on weekends.
- Execution Quality: Maintaining low slippage and fast fills in both markets is vital for client trust.
Real-World Examples and Case Studies
Sky Option
A leading brokerage infrastructure provider offering both Forex and crypto through a unified, high-performance platform. Known for strong compliance alignment in the US and UAE, Sky Option’s Sky Social CRM lets brokers vet traders faster, enforce risk limits, and process payouts in under an hour.
Saxo Bank
One of the earliest adopters of multi-asset trading. In 1998, it launched SaxoTrader — a unified FX + stocks + crypto platform. This early tech investment helped Saxo scale to over 1.2 million clients and €114B in assets under management.
Regional Perspective
Dubai-based brokers have been quick to add crypto, capitalising on the UAE’s push to be a global blockchain hub. In contrast, most US retail Forex brokers stay away from crypto due to regulatory uncertainty. This contrast underscores the importance of regional strategy – UAE firms can often move faster, while US firms must tread carefully.
Bottom Line
Brokers who successfully integrate Forex and crypto can unlock powerful growth, attract diverse client segments, and remain relevant in evolving markets. Those who ignore crypto risk losing clients to more versatile competitors.
However, expansion must be strategic – solid regulation coverage, unified technology, reliable liquidity, and robust risk controls are non-negotiable. Done right, a combined Forex–crypto offering can be a durable competitive advantage. Done poorly, it can expose your firm to costly regulatory action and capital losses.
If you’re considering the move, explore platforms like Sky Option that are built to handle the operational, compliance, and market demands of running both Forex and crypto under one roof.
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