FinFX, a provider of foreign exchange (FX) trading globally, has just expanded its offering to include contracts-for-difference (CFDs), Finance Magnates has learned.
Speaking to Finance Magnates reporters, FinFX’s Chief Business Development Officer, Stan Klebaner, noted that the new offering was the result of a pent up interest in the trading of CFDs. Indeed, many other brokers as of late have opted to diversify into multi-asset trading, namely CFDs.
According to Mr. Klebaner in a recent interview with Finance Magnates: “Our CFD release is primarily focused on servicing the existing trading needs of our diverse client base. Traders, both new to our platform as well as those longer-tenured have both expressed a desire to trade from a multi-asset, single-margin account. We are phasing in our launch in concentrating on CFD Indices and commodities and will be concentrating on individual shares in the days to come.”
The decision to broaden its offering into CFDs should yield immediate benefits for FinFX, especially given the affinity of the instrument by clients and the maturation of the CFD market across the industry.
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Our global expansion strategy is predicated on being able to offer the asset class in conjunction with FX
“The incentive in coming-to-market with CFD’s is twofold. Our global expansion strategy is predicated on being able to offer the asset class in conjunction with FX. The majority of regions we will be focusing on have mature CFD markets with sustained CFD liquidity – factors that necessitate a comprehensive CFD offering,” he added.
In additional to targeting self-directed retail clients, FinFX has also revealed that it intends to address B2B clientele such as white labels, brokerage, and asset management. “Mid-tier institutional clients are constantly seeking additional financial instruments as key differentiators; being able to cater to their evolving clearing requirements will enable us to capture market-share,” reiterated Mr. Klebaner.
The global scope of the new CFD offering is manifold, as FinFX intends to introduce the trading capabilities to a wide range of regions. According to Mr. Klebaner: “We’ve launched CFD Indices in targeting Asian, European, Australian and US markets, alongside a number of commodity instruments. Our objectives in the near-term will be to both introduce individual CFD shares as well to further enhance our liquidity and trading terms.”
Back in April, the company made headlines after FinFX’s retail clients and the brand was acquired by Best Choice FBC limited, a brokerage regulated by the Cyprus Securities and Exchange Commission (CySEC). The firm is operating the brokerage BCFXBroker.com.