German FX broker FXFlat has expanded its range of cryptocurrency instruments and will now add trading support for additional coins, which join its already installed CFDs on Bitcoin.
The updated list of crypto CFDs at the BaFin-regulated firm now includes Bitcoin Cash, Dash, Ethereum, Ripple, and Litecoin. The addition of the new crypto assets will enable traders to properly diversify their crypto holdings, the company said.
FXFlat has also added two new indices to its CFD offering, namely TecDax and MDax, the second and third most traded indices in Germany.
The FX broker introduced the new asset type earlier last year when it began testing the service with its Bitcoin offering, which marked the first stage of FXFlat’s decisive move into the surging cryptocurrency arena.
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CFDs are often a more convenient way of trading cryptocurrencies, as it allows traders to speculate on price movements without having to own or store the virtual currencies.
Established in 1997, FXFlat is a trademark of independent and privately owned FXFlat Wertpapierhandelsbank GmbH. Considered a dominant player in Germany, it is a full-fledged STP broker regulated by the Federal Financial Supervisory Authority (BaFin). CapTrader – which is a part of the company – offers stocks, options, and futures trading since 2009.
Earlier in 2017, FXFlat has become the first German broker to offer MetaTrader 5 (MT5) platform, the newer and more advanced alternative over the long-established MetaTrader 4.
Commenting on the news, Rafael Neustadt, Managing Director of FXFlat, said: “Blockchain is widely considered the next technological revolution that can even change our world. Cryptocurrencies are considered by some experts to be the future of the financial markets, but at least they are considered one of the next asset classes. The extension of our offer by CFDs to the most popular cryptocurrencies and the most popular indices is therefore the next logical step for us.”