eToro Launching Chinese Yuan and Russian Ruble Trading as Volatility Rises

eToro becomes the latest broker to launch trading in the Chinese yuan. Going live on Monday, trading of the Chinese yuan is being added alongside that of the Russian ruble with the two being launched together. According to a representative of the firm, the addition of the two currencies represents continuous user demand for volatile currencies. Specifically the ruble has been one of the more active currencies this year, with the USD/RUB Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term pair having risen 20% from its July lows to a recent 40.72.

Earlier in the year we posted that bitcoins had become 2014’s version of the yuan. During 2013 we witnessed a sharp rise of firms launching the yuan as China had become a hot product to market to brokerage customers, with bitcoins taking that mantle in 2014. In eToro’s case, adding the yuan occurs after they had launching trading in bitcoins earlier this year. However, as in the case of the Russian ruble, the Chinese yuan is expected to appeal to the firm’s more active customers due to its Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term. In addition, both China and Russia represent regions of account growth in 2014 for eToro, of which offering local currencies helps in marketing in the countries.

Expected to begin trading tomorrow, the two currencies will be offered via variable spreads, and will become the only two forex pairs at eToro which aren’t set with fixed spreads.