AvaTrade has expanded its cryptocurrency offering with the introduction of two new coins to its CFDs suite. This includes Stellar (XLMUSD) and Dash (DASHUSD), which represent the latest additions to a growing portfolio of cryptos available for clients.
Over the past year, AvaTrade has steadily added crypto instruments to its offering as client demand continues to see strong growth. Indeed, cryptocurrency adoption by mainstream traders and investors has coincided with their embrace by brokers. Since mid-2017, AvaTrade has been aggressively growing its crypto suite, which has now swelled to cover nearly fifteen coins in total.
By trading cryptocurrencies in the form of CFDs, traders have the opportunity to invest in their price without having to actually buy them. Furthermore, they can take advantage of a wide array of traditional trading tools such as leverage and stop orders.
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The step confirms that demand amongst traders for such derivative products is still in full swing, with the launch coming shortly after European regulators outlined a set of rules on offering crypto CFDs.
AvaTrade Reduces Swaps
Cryptocurrency trading is at a key juncture, with Bitcoin and other altcoins recently reaching multi-year lows. 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 buy into the cryptos’ bear run, just as they were able to bet against their rapid ascension last year.
In addition to the new offering, AvaTrade has also rolled out new trading conditions including a 50 percent reduction in its overnight swaps on cryptocurrency trades.
The rollout represents AvaTrade’s latest effort to focus on cryptocurrencies. Earlier this year, AvaTrade, relaunched its affiliate program with modified terms, in an effort to expand its cryptocurrency client base. The program was aimed at attracting cryptocurrency traders, to accommodate the brokerage’s efforts to consistently expand its crypto CFD assets.