TD Ameritrade shows bitcoin paper trading

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The puzzle pieces appear to be falling into place for the start of a new bull run. Popular mainstream traditional asset trading platform TD Ameritrade reportedly shows simulated bitcoin trading, via its paper trading functionality. This has been reported by Twitter user Cryptopolis, and then further legitimized by Litecoin creator Charlie Lee. 

TD trading oddity

On April 22, Twitter user Cryptopolis posted an exuberant tweet, claiming the occurrence of bitcoin trading on the NASDAQ stock exchange, through the popular traditional asset broker and online trading platform TD Ameritrade. The asset chart showed trading began on April 10, as presented by the enthusiastic user.

In a follow-up tweet, after speaking with the support team at TD Ameritrade, Cryptopolis explained the BTC trade was only a simulated event on TD Ameritrade’s “Paper Trading Platform.”

Customers commonly use paper trading to carry out trading processes with fake money, test various theories, and gain familiarity with markets. In the crypto space, BitMEX’s testnet has similar functionality.

Additionally, Cryptopolis said the TD staff could not give any details on the bitcoin paper trading, and had no information of clarity on CXERX – the exchange listed on the chart up by the BTC ticker.

In the posted conversation, Cryptopolis noted paper trading data often stems from real trading data. Therefore, it is odd to see BTC functioning on the paper trading platform, if no live trading data exists for correlation. TD support staff agreed on a possible guess that the product could be in a testing phase. However, he also mentioned the ticker possibly might be an index or Forex ticker. Another observation was the chart shows prices similar to those seen in bitcoin.

Possible explanation

In the tweet’s comments, The Rythmatician speculated on a plausible explanation for the event. The user said Cryptopolis might have utilized ErisX.

TD Ameritrade previously invested into ErisX, “a regulated exchange for cryptocurrency trading,” TD’s official website states. TD also notes customers cannot, at the time of this writing, use TD for ErisX trading quite yet, due to regulation and development. “Crypto trading will be dependent on when ErisX completes its product development and obtains regulatory approval,” the site explains.

The Rythmatician also speculated that ErisX might have joined forces with Seed CX. Seed CX is “the only digital asset exchange built exclusively for institutional investors,” according to a press release from February 2019.

Litecoin creator Charlie Lee enthusiastically tweets about LTC also being available

Upon further inspection, Litecoin creator Charlie Lee has discovered that a LTC/USD pair is also available within the same paper trading interface of TD Ameritrade. The reactions have been extremely positive, as many Twitter users have anticipated the coming of another bull market which is triggered by this wave of institutional adoption.

Integrating cryptocurrencies into traditional financial trading is a way of legitimizing the cryptographically-secured digital assets and a way of helping more people trust in these investments. Integrating BTC and LTC into TD Ameritrade makes a lot of sense, as the coins are technically similar and represent the most decentralized and trusted assets for quick exchanges and value storage.

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