AvaTrade has expanded its cryptocurrency offering with the introduction of three new instruments to its CFDs suite. This includes NEOUSD, EOSUSD, and MIOTAUSD pairs, 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 18 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 re-labels crypto pairs
Cryptocurrency trading is at a key juncture, with Bitcoin and other altcoins recently rebounding off its 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 re-labeled its existing Ethereum, Ripple & Litecoin instruments and replaced its already installed instruments with new USD labeled ones: ETHUSD, XRPUSD & LTCUSD, respectively.
The rollout represents AvaTrade’s latest effort to focus on cryptocurrencies. Earlier last 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 expand its crypto CFD assets.