Admiral Markets has once again expanded its cryptocurrency contracts-for-difference (CFDs) offering, this time include Dash, Monero, and Zcash. The introduction of new instruments adds to its rapidly expanding suite of cryptos, following strong demand from clients over the past few months.
Many brokers have been quickly shoring up their offerings with more altcoins in 2018. While 2017 marked the launch of Bitcoin CFDs and a gradual embrace of crypto products, the latest expansions have been fueled by consistent demand for more diverse options.
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Last year saw Admiral Markets roll out multiple crypto-related offerings, including Bitcoin Cash and short selling on crypto CFDs in August. The group also offered tiered leverage on several crypto products last year as well, given strong demand and client feedback.
As recently as last month, Admiral Markets reinstated trading on its cryptocurrency CFDs on its Metatrader 5 (MT5) trading platform. The company currently offers traders the ability to trade Bitcoin and Ethereum with leverage of up to 5:1, and up to 2:1 on Ripple, Litecoin and Bitcoin Cash. Today’s expansion will see Dash, Monero, and Zcash added to Admiral Markets’ offering.
Cryptocurrency CFDs traders at Admiral Markets should note that contracts expire each week on Friday, and are rolled over to the weekend. This was instituted to prevent potential gaps that can be incurred by clients to reflect price changes while Admiral Markets trading is closed outside of trading hours. The changes applied by Admiral Markets helped some of the underlying issues that have made it challenging for CFD brokerages to provide access to cryptocurrency trading.