Global brokerage ATFX has told Finance Magnates exclusively that it has introduced two new contracts for differences (CFDs), one based on Lloyds Banking Group shares and the other on Tesco shares.
According to a statement seen by Finance Magnates, the launch announced today is part of the foreign exchange (forex) broker’s efforts to offer a broader choice of trading instruments to clients.
Lloyds Banking Group is the largest domestic bank in the United Kingdom. The Lloyds Banking CFD offered by ATFX is based on the Lloyds Banking Group PLC (#LLOY) stock, offered at 1:5 leverage for retail clients, and 1:20 for the broker’s professional clients.
Tesco, on the other hand, is the biggest retailer in the UK, with more than 2,100 supermarkets across Europe, the United States and South East Asia. This CFD is based on Tesco PLC shares (#TSCO) and is also offered at 1:5 and 1:20 leverage for retail and professional traders, respectively.
Stocks to Watch This Week – Expedia Group, IncGo to article >>
Commenting on the new offering, the head of marketing at ATFX (UK), Ergin Erdemir said in the statement: “Portfolio diversification across different types of instruments is one of the most important aspects of trading.
“Trading multiple instruments allows traders to manage risks and gain flexibility. The launch of our two new share CFDs means that we can continue to offer clients a broader range of tradable instruments in the ever-changing financial market, with more tailored trading conditions that address the specific needs of our global clientele.”
ATFX to expand across Europe
Today’s announcement comes slightly more than a month after ATFX revealed exclusively to Finance Magnates that it would be expanding its presence further throughout Europe. This will include growing its market reach by hiring additional native speakers of European countries as well as countries it is yet to expand to.
This follows on from the broker having recently raised funds by increasing its share capital by £1.5 million, which the company received regulatory approval to do so on the 30th of April 2020.