Moscow-based online brokerage firm Finam Forex will allow customers ‎to trade Bitcoin futures from CME Group, the company said on its website ‎Monday, joining its rivals in seeking to capitalize on the mania for the booming ‎digital currency.‎

Discover credible partners and premium clients at China’s leading finance event!

Finam Forex was the first ever company to win the Russian central bank's approval to operate as a regulated brokerage ‎firm in the country. It is also a founding member of the ‎AFD.‎

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CME’s bitcoin futures allow traders to bet on whether the price of the leading ‎digital coin will rise or fall, and now they offer clients of Finam a way to ‎access this in a well-known and regulated marketplace.‎

Compared with rival Cboe’s futures, CME’s derivatives appeal more to ‎institutional traders and less to retail investors, due to its larger size. Each CME ‎contract represents five bitcoins, whereas Cboe’s represents just one. That ‎means it will require a bigger margin deposit to trade the CME contract.‎

In a regular disclosure notice, Finam Forex warns customers that trading bitcoin ‎futures is “especially risky” and “their prices may move randomly.”‎

Major brokerages in the US, including E-Trade, TD Ameritrade and ‎Interactive Brokers, have already enabled trading of CME and Cboe bitcoin ‎futures following its launch last month.‎

Finam is part of a major privately owned financial ‎group, Finam Holdings. The firm was founded over 22 ‎years ago and is one of the first financial intermediaries in ‎modern Russia, founded by board member of the Russian ‎MICEX-RTS, Victor Remsha.‎

Moscow-based online brokerage firm Finam Forex will allow customers ‎to trade Bitcoin futures from CME Group, the company said on its website ‎Monday, joining its rivals in seeking to capitalize on the mania for the booming ‎digital currency.‎

Discover credible partners and premium clients at China’s leading finance event!

Finam Forex was the first ever company to win the Russian central bank's approval to operate as a regulated brokerage ‎firm in the country. It is also a founding member of the ‎AFD.‎

[gptAdvertisement]

CME’s bitcoin futures allow traders to bet on whether the price of the leading ‎digital coin will rise or fall, and now they offer clients of Finam a way to ‎access this in a well-known and regulated marketplace.‎

Compared with rival Cboe’s futures, CME’s derivatives appeal more to ‎institutional traders and less to retail investors, due to its larger size. Each CME ‎contract represents five bitcoins, whereas Cboe’s represents just one. That ‎means it will require a bigger margin deposit to trade the CME contract.‎

In a regular disclosure notice, Finam Forex warns customers that trading bitcoin ‎futures is “especially risky” and “their prices may move randomly.”‎

Major brokerages in the US, including E-Trade, TD Ameritrade and ‎Interactive Brokers, have already enabled trading of CME and Cboe bitcoin ‎futures following its launch last month.‎

Finam is part of a major privately owned financial ‎group, Finam Holdings. The firm was founded over 22 ‎years ago and is one of the first financial intermediaries in ‎modern Russia, founded by board member of the Russian ‎MICEX-RTS, Victor Remsha.‎