Polish brokerage house X-Trade Brokers (XTB) will be strengthening its core product suite with the addition of several new instruments, including leading cryptocurrencies Bitcoin and Ethereum, among others. The decision comes during one of the most dynamic times for such products, with Bitcoin and Ethereum each peaking at all-time highs in June due to heightened demand.
XTB will become the latest brokerage to offer access to cryptocurrency trading on June 25, 2017 – earlier this month, Finance Magnates interviewed XTB’s Owner Zabłocki, who noted the instruments’ potential and growing popularity. The broker’s consequent decision appears to be rooted in this mindset, with trading volumes for Bitcoin and other cryptocurrencies clearly catching the attention of XTB, among other venues around the industry.
Beginning on June 25, clients will gain access to a number of updated trading instruments across XTB’s Standard and Pro offerings – this includes BTC/USD, ETH/USD, XRP/USD, LTC/USD, and DSH/USD pairs. In particular, the newly introduced cryptocurrency instruments will be available exclusively on the xStation platform. Moreover, XTB is capping open positions for cryptocurrency pairs at fifty lots.
One of the factors affecting cryptocurrency trading activity in June was the problem of multiple outages at Coinbase, which caused a sharp pullback in both Bitcoin and Ethereum. Outages at such exchanges are directly related to massive hits in crypto prices, which stokes fears across the entire cryptocurrency ecosystem.