The adoption of cryptocurrencies in the mainstream retail brokerage space has continued in 2018. Fueled by increased demand and resurgence of prices in H2 2018, cryptos are once again on the rise. In light of this trend, Amana Capital has rolled out the launch of its cryptocurrency contracts-for-difference (CFD) products on its MetaTrader 5 (MT5) platform.
Retail traders have increasingly demanded access to cryptocurrency exposure, which in turn has prompted brokers to expand their respective offerings. Not even a year ago, most retail brokers abstained from crypto CFDs, a trend that has certainly shifted over the past twelve months. With traders now looking to tap into the crypto boom, Amana Capital has answered the call for its client base with its new offering.
Ahmad Khatib, CEO of Amana Capital, commented on the first phase of the crypto CFD offering: “Making cryptocurrencies available for CFDs traders across the world, falls in line with our strategic mission to further diversify our financial offerings and services, according to the latest financial innovations. Hence, we believe that entering the cryptocurrency market is a strategic move that propels our efforts on that end.”
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The long-anticipated launch at Amana Capital will see the brokerage allowing clients the ability to trade Bitcoin, Ethereum, Litecoin, and Ripple. While these are amongst the most popular and largest cap cryptos on the market, Amana Capital has also unveiled plans to expand its cryptocurrency suite soon. More details are expected to be forthcoming in what will be the second phase of its offering.
For now, the new cryptocurrency CFD products will be made available on Amana Capital’s MT5 trading platform. This will include access to flexible leverage, competitive swap rates, and 24/7 multi-lingual customer support. The availability of Bitcoin, Ethereum, Litecoin, and Ripple helps serve as a solid baseline for crypto traders, as these instruments encompass the majority of trading.
Looking ahead, it will be interesting to see which cryptos Amana Capital chooses to adopt, as demand for these instruments is not expected to abate in H2 2018. After bottoming out earlier this year, markets are once again heating back up, which should only help increase demand from Amana’s client base.