Cyprus based foreign exchange and CFDs (contracts for difference) brokerage FXTM has announced the launch of a new account type today. The company is aiming at clients who are willing to get more exposure into the equities side of trading with a dedicated account opening access to trading CFDs on single stocks. Clients who have already been trading CFDs on shares will have to move to the new account type, according to an announcement by FXTM.
The FXTM Shares Account offers clients to implement different strategies and diversify their exposure to other markets. The brokerage states that it has a direct connection with the NYSE and NASDAQ which is warranting real-time pricing and accurate quotes.
At launch, FXTM’s customers will receive access to more than 180 equities traded in the U.S.. The company has plans to update the offering with more stocks in the near future. Clients can trade via the industry standard MetaTrader 4 platform, with the leverage being set at 1:33. The offering also includes dividend payments so that clients can fully emulate a stock market trade via derivative instruments.
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Customers of FXTM who are interested in a swap-free option to trade single stock CFDs have the option to select so. The FXTM Shares Account does not require clients to pay additional maintenance fees nor any additional commissions.
Existing clients who are trading single stock CFDs with FXTM have until April 5th, 2016 to close their positions. Starting from yesterday, March 22nd, 2016, open trades are active in a “close-only” mode. Should a client of the brokerage fails to close open positions, FXTM will close the trade at the last price available.
FXTM’s newest offering shows that foreign exchange and CFDs traders are increasingly interested in assets class divestment. Retail traders are not only keen to trade commodities and indices but also single shares of their favourite companies.
In late February, Finance Magnates reported that the Cypriot brokerage launched a new program called FXTM Invest, which is the latest version of the company’s social trading module. With the new platform, investors can enter into transactions from as little as $100 and earn up to 50% on profitable trades.