GO Markets, a Melbourne-based broker, has expanded its multi-asset offering, by adding Australian Securities Exchange (ASX) stocks for trading on MetaTrader 5, a statement from MetaQuotes announced this Friday.
With the expanded range of financial instruments now available, clients of the Australian broker can now trade stocks of the largest corporations in the country, such as Rio Tinto Ltd, a mining giant, Commonwealth Bank, telecommunications firm Telstra and many others.
GO Market was one of the first brokers to offer online trading in Australia. Now, its customers have the ability to open long and short positions while trading stocks and, according to the statement, this move is likely to attract traders who want to use a single MetaTrader 5 account for multi-asset trading.
Today’s announcement follows on from GO Markets launching new contracts for differences (CFDs) in equities listed on the ASX towards the end of March, as Finance Magnates reported.
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Similar to the stocks of large Australian companies, GO Markets traders were given access to shares in companies such as Rio Tinto, Commonwealth Bank, and Telstra with a leverage of 20:1.
Tougher Markets Cause Brokers to Diversify Offering
The MetaTrader trading platform facilitates trading operations and technical analysis in the foreign exchange (forex) and futures markets. The addition of stocks to GO Markets’ MetaTrader 5 platform, comes at a time when brokers are increasingly diversifying their offering to traders.
In Europe, this is largely to help offset the regulatory restrictions imposed by the European Securities and Markets Authority (ESMA), but abroad a diversified offering is one way in which they can stand out from the crowd.
Commenting on the decision, Christopher Gore, the CEO of GO Markets, said: “The decision to expand has been brewing for a long time. We intend to present to our clients an all-in-one offer and provide them access to an even greater number of marketplaces. The launch of exchange trading on NYSE and NASDAQ is scheduled for mid-2019”.