TÝR Markets traded 367 million kroner in October, a new record for the Norwegian crypto broker. The company also announced upcoming TradingView integration and new order types for "stop loss" and "take profit".
Photo: Filip Berg-Nielsen, CEO of TÝR Markets.
TÝR Markets is a Norwegian, MiCA-licensed crypto broker that markets itself on low fees and execution without spread markups. Since launch, the company has built its offering around two problems it says define the Norwegian crypto market: high transaction costs and weak liquidity.
TÝR Markets says it traded 367 million kroner in October, the highest monthly volume in the company's history. According to its own calculations, it was the fourth consecutive month TÝR Markets was Norway's largest crypto broker by trading volume.
– Market activity in October was subdued. Even so, our revenue came in higher than we expected, writes Filip Berg-Nielsen, CEO of TÝR Markets.
TÝR Markets says it is working on an integration with TradingView, a widely used platform for technical analysis and price charts among traders. It is also adding new order types for "stop loss" and "take profit", which let customers set automatic sell and buy levels in advance rather than tracking the market manually.
– We're far from done, and we're going to get even better, writes Filip Berg-Nielsen, CEO of TÝR Markets.
The company has not given a timeline for when the features are due to launch.
TÝR Markets is sticking with the pricing model that has been its main selling point since launch: fees ranging from 0.10 to 0.35 percent depending on trading volume, no fees on deposits or withdrawals of fiat or crypto beyond the blockchain's own transaction costs, and what the company calls zero spread — meaning no markup beyond the price in the underlying market.
Berg-Nielsen points to the execution model as the company's main argument to customers who trade crypto themselves.
– TÝR Markets is for those who want to trade crypto and keep more of the return themselves. Whether you trade large or small volumes, you get immediate execution at the best market price — the mid-price in the global market, he writes.
Sources: TÝR Markets (LinkedIn)
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