Global forex and CFDs broker, FXOpen announced on Wednesday the addition of equities market products to its offerings to the Australian clients who were onboard under the locally regulated entity, FXOpen AU.
The press release shared with Finance Magnates detailed that the broker will offer more than 100 company stock CFDs to its Australian clients on an ECN account. The offerings will include the CFDs of some of the top US stocks like Facebook, Tesla and Amazon.
The broker brand will offer a leverage of 1:5 on US Stock CFDs. It also highlighted that there will be no dealing desk and restriction for the offerings.
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Demand for Global Equities Is Rising
Established in 2003, FXOpen is known for offering ECN pricing on forex trading pairs. Last year, the broker expanded its offerings with share CFDs addition but only for its UK-based client base. The brokerage brand is now further expanding its services when the demand for top global companies is skyrocketing across the globe.
Commenting on the development, FXOpen UK’s Chief Operating Officer, Gary Thomson said: “We’ve seen an increased uptake in equity trading in recent months within our UK brokerage and are delighted to widen the reach of equity markets to the wider FXOpen group.”
While FXOpen is adding a new asset class, its UK entity was forced to drop all cryptocurrency CFDs by the end of last year as the country’s financial market regulator put a ban on retail crypto derivatives offerings. However, the Australian unit continues to offer trading services with cryptocurrencies.
Additionally, the broker added another account funding option with POLi service to its Aussie post, which will not charge any fees for deposits.