Multi-asset provider ThinkMarkets has become the latest brokerage to extend its contracts-for-difference (CFD) offering to cryptocurrencies. The extension of its trading suite is the result of the growing demand for such products in the retail space as cryptocurrency trading heats up across the industry.
Brokers from around the retail industry have been increasingly warming to cryptocurrency CFDs in recent months, with Bitcoin and Ethereum each recently trading near record highs. Other industry players such as Admiral Markets and ADS Securities, among others, have each made similar inroads into this area, following demand from their respective client bases.
Nauman Anees, CEO and co-founder of ThinkMarkets, commented on the launch: “Bitcoin CFDs are a natural extension of our vast portfolio of financial instruments that include; major currencies, stock indices, precious metals and commodities. The recent surge in volatility has triggered investor interest in the alternative digital asset class and we are well positioned to service virtual currency traders with unmatched trading conditions.”
ThinkMarkets will be expanding its CFD trading to include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC) CFDs, which will be made available on its MetaTrader 4 and recently integrated Trade Interceptor trading platforms.
Cryptocurrency trading is at a key juncture, with Bitcoin and other altcoins recently reaching all-time highs. The massive range of volatility exhibited in these instruments creates an ideal environment for investors in CFDs, many of whom are looking for ways to not only buy into cryptos but also bet against their rapid ascension.
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ThinkMarkets’ offering will feature 24/7 leveraged trading across all four of the aforementioned CFDs. “The surge in Bitcoin, driven by market volatility, gives traders the opportunity to take advantage of daily price spikes. That’s why Bitcoin and digital currencies are set to become a key market for day traders,” explained Faizan Anees, Managing Director and co-founder.
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“The Trade Interceptor app offers some of the most advanced and sophisticated analysis tools. The platform has over 550,000 downloads and we expect global Bitcoin investors to benefit from our tight spreads, stable pricing and swift order execution, coupled with the most in-depth selection of charting and analytics exclusively available on mobile”, he added.
“Looking at the current momentum, I still hold the target of 5,500 per Bitcoin by the end of this year. The current pull back is confirming that many investors are not ready to sell, therefore, this could be an opportunity to come join the trend,” reiterated ThinkMarkets’ Chief Market Analyst, Naeem Aslam, who remains bullish on Bitcoin.