Multi-regulated brokerage firm, ThinkMarkets has widened access to trading CFDs based on cryptocurrencies for its clients. Starting tomorrow, the broker is extending trading hours for its CFD cryptocurrency products to be traded 24/7, including on the weekends.
Before that, cryptocurrency CFDs traders at ThinkMarkets were having their contracts expire each week on a Friday, and these were rolled over to the next week. This was instituted to prevent potential gaps that could be incurred by clients to reflect price changes while ThinkMarkets trading was closed outside of trading hours.
The changes applied by ThinkMarkets helped resolve some of the underlying issues that have made it challenging for CFD traders to have access to cryptocurrency trading around the clock. Namely, the extended trading hours eliminate the inconvenience of carrying positions from one week to the next without weekend quotes.
Brokers Are Shoring up Offerings with More Options
Retail traders have increasingly demanded access to cryptocurrency exposure, which in turn has prompted brokers to expand their respective offerings. With traders now looking to tap into the crypto boom, ThinkMarkets has answered the call for its client base with CFD trading on Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
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Non-stop cryptocurrency trading will be available via the company’s proprietary trading platform, ThinkTrader.
Commenting on the launch of the new crypto offering, the CEO and Co-Founder of ThinkMarkets, Nauman Anees said: “The cryptocurrency market is revolutionary and is naturally growing to become an established asset class. This is the best time to bring our offering in-line with the 24/7 nature of the market and empower our clients to trade cryptocurrencies on our innovative mobile app, ThinkTrader.”
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.
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’ bull run, just as they were able to bet against their rapid drop over the past two years.