London headquartered, FCA regulated brokerage ETX Capital has become the latest retail trading venue to launch access to a Bitcoin trading. The move comes amidst an uptick of demand for cryptocurrencies and investor appetite for the instruments with volatility still at permeating the market.
2017 has largely been the year of crypto, with retail brokerages rapidly integrating digital currencies into their offerings en masse. ETX Capital has now joined the crowd, implementing a comprehensive Bitcoin offering into its existing services suite.
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In particular, ETX Capital’s clients can now trade Bitcoin as a spread bet or contract-for-difference (CFD) via its multi-asset proprietary trading platform, TraderPro on both mobile and desktop. The availability of Bitcoin CFDs is of particular note as many retail venues have slowly gravitated to these instruments on account of widespread volatility in Bitcoin.
Andrew Edwards, CEO at ETX commented on the new offering: “Adding Bitcoin to our large base of over 5,000 markets is one of the next steps in our continuing commitment to rollout new products and technology improvements that create more trading opportunities for our clients. There’s a lot more to come in the following months.”
Having reached all-time highs earlier this year, the past few months have seen the price of Bitcoin fluctuating wildly as blanket bans of initial coin offerings (ICOs) and Bitcoin exchanges in China have impacted its value. Clients of ETX Capital will now have multiple levels of exposure to Bitcoin, currently the largest cryptocurrency by market cap.
The new offering follows after ETX Capital’s recent web trading platform rollout to UK clients. Moving forward ETX Capital is slated to explore multiple product or technology enhancements in the coming months – it is unsure whether the group will expand its offering to include additional cryptocurrencies such as Ethereum or others.