FX broker FXTM has launched its Shares Account program, a specified account for share contracts-for-difference (CFD) traders interested in fostering a direct connection to several US exchange venues and a diverse share suite, according to an FXTM statement.
The new account helps customize CFD traders’ portfolio capabilities whilst streamlining them with connectivity to the New York Stock Exchange (NYSE) and NASDAQ, along with a robust suite of indices and shares. This includes the ability to trade up to 180 sovereign shares on the US market, including most large cap companies such as Apple, Facebook, and Microsoft, among others.
The new program is noteworthy as it circumvents any middleman or third party provider, ultimately granting direct connectivity with both the NYSE and Nasdaq. This is instrumental in garnering the most congruent and transparent pricing for CFD shares, while at the same time gaining access to a deep pool of liquidity and low latency.
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In particular, the Shares Account boasts zero commission, as well as a margin starting at 3% – the entire pool of available shares is currently pegged at 180 shares with spreads starting from 0.1 pips. For their part, FXTM has required a minimum deposit of only 100 across such major currencies as the USD, EUR or GBP. Moving forward, FXTM will also be extending its Shares Account to other exchanges, which will fortify the offering with more share options.
According to Jameel Ahmad, Chief Market Analyst and Vice President of Corporate Development at FXTM in a recent statement on the launch: “FXTM is proud to present the new Shares Account, which has been developed to provide a localised solution to those clients who trade Share CFDs. We are also pleased to have developed direct connections with the NYSE and NASDAQ exchanges, which enhances FXTM’s credibility as a leading broker.”
“With unrivaled pricing terms, this new account shows FXTM’s commitment to providing our clients with products tailored to their needs, whether in forex, spot metals, commodities or shares. The launch of the Shares Account is also part of our bigger vision to expand the choice of financial instruments our clients can have when trading,” he added.