ATFX Launches CFDs on Major Cryptocurrencies

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 Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

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.

“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“it is a cost effective way to trade both rising and falling cryptocurrency markets, funds can be deposited and withdrawn with ease, avoiding the risks of purchasing cryptocurrencies directly through an exchange and not having to worry about your cryptocurrency being lost, stolen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 Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term 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.