Easy Markets has announced the addition of Ethereum and Ripple CFDs into its asset lists. The new additions are now available for trading across its trading platform.
In the midst of a cryptocurrency frenzy that has seen many of the world’s leading FX and CFD providers incorporate cryptocurrencies into their asset offerings, Easy Markets is pushing to meet client demands as well.
Ethereum (ETH) and Ripple (XRP) have been headlining the crypto industry in recent months, as their respective late year surges catapulted them to be among the leaders of the industry in terms of their market caps. Ripple’s creation of a Japanese credit card consortium helped to push its value higher, as practical uses for the technology coupled with established partnerships drove demand for the virtual coin to unprecedented levels.
Meanwhile, Ethereum has maintained its position as a stable alternative for Bitcoin. Both digital currencies carry high name recognition and investor demand. According to the Easy Market’s statement, the company has also lowered its spreads on Bitcoin CFDs.
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Easy Markets initially launched Bitcoin CFDs in October of last year, just before the strong upward spike seen across many of the leading cryptocurrencies. While the recent slump experienced through the market has led to a drop in demand levels, crypto CFDs maintain their allure, due to the option of shorting the assets.
The crypto space is relatively new for many brokers and institutional market participants. Many companies have rushed to offer crypto CFDs, only to quickly halt trading as a result of lacking risk management procedures.
As time goes on, companies are better equipped and familiarized with the industry to create the necessary framework to appropriately manage crypto assets.
Despite the general setback seen across the crypto sphere, demand does not appear to be dwindling. Many exchanges continue to report strong growth, both in the number of new users, as well as overall trading volume.