AT Capital Markets (ATFX), a multi-regulated FX brokerage, has expanded its product offering by launching four new trading instruments in its UK operations – contracts for differences (CFDs) on major cryptocurrencies.
Now, clients of the broker can buy and sell the most popular and largest digital currencies, Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP), quoted against the United States dollar, as CFDs 24 hours, five days a week.
According to ATFX, CFDs are a more convenient way of trading cryptocurrencies, as it allows traders to speculate on price movements without having to own or story virtual currencies.
Through the British broker, traders can take both long and short positions on the crypto CFDs and have access to competitive spreads, as well as the extra protection of segregated client funds, the statement said.
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“The advantages of trading cryptocurrency CFDs don’t end there,” Marcos Tigsilema, Commercial Director of ATFX (UK) explained, “it is a cost effective way to trade both rising and falling cryptocurrency markets, funds can be deposited and withdrawn with ease, avoiding the risks of purchasing cryptocurrencies directly through an exchange and not having to worry about your cryptocurrency being lost, stolen or hacked.”
Over the course of the year, ATFX UK will continue to add more financial trading instruments in 2019. However, the broker does not specify whether these will be within the cryptocurrency space or more traditional financial instruments such as foreign exchange (FX) or commodities.
ATFX Joins the Crypto Club
ATFX is the latest in a long line of FX and CFD brokers to jump onto the cryptocurrency bandwagon. One such broker is FXCM, a retail forex broker based in London, which recently announced that it has added Litecoin to its range of cryptocurrency products.
The UK broker initially launched cryptocurrency products towards the beginning of last year, joining the ranks of Admiral Markets, Plus500, ICM Capital, and many others.