For the second time in as many months, ThinkMarkets will be extending its contracts-for-difference (CFD) offering to include an additional round of cryptocurrencies. The latest expansion will see Bitcoin cash (BCH), Dash, Monero (XMR), and Neo added to its CFD suite, bringing its total exposure to eight different digital currencies.
The extension is a nod to growing demand amongst ThinkMarkets’ client base. 2017 has been the year of crypto, as brokers from around the retail industry have been launching cryptocurrency CFDs in recent months. High levels of volatility and swinging prices have quickly made Bitcoin, Ethereum, and other instruments extremely popular amongst traders.
In September, ThinkMarkets rolled out a revamped trading suite that included access to four core cryptocurrency CFDs. Today’s announcement has seen the multi-asset provider grow its CFD coverage further to now include eight total cryptos, including Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin cash, Dash, Monero, and Neo.
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Nauman Anees, co-founder and CEO, commented on the expansion: “We’re pleased to enhance our range of Crypto CFDs, this highlights the firm’s ongoing commitment to the sector and strengthens our position as one of the world’s largest providers of cryptocurrency derivatives.”
The four new crypto CFDs will slot into ThinkMarket’s MetaTrader 4 (MT4) and recently integrated Trade Interceptor trading platforms. In particular, this will include spreads as low as 15 pips and leverage up to 25:1. Of note, the group’s crypto CFD products are available for weekend trading, a welcome development for individuals looking for new forms of diversified asset exposure.
“Our core infrastructure, of a robust and sophisticated risk management & pricing engine, enables us to provide our clients access to these additional Crypto CFDs with some of the best trading conditions in the marketplace,” explained Joe Rundle, Director of Trading, ThinkMarkets.
In a trading year that has been characterized by isolated pockets of volatility, cryptocurrency market activity has been a true constant. After peaking at all-time highs this past summer, Bitcoin, Ethereum, and other digital currencies plunged in price after China cracked down on ICOs and banned Bitcoin exchanges. Since then, all of the eight most liquid cryptos have been prone to wide fluctuations, an obvious draw for CFD traders.
“Our ethos is to offer the best products and services to the global trading and investor community. To achieve that, we take clients requests seriously. They asked for more Crypto CFDs on mobile and we listened!” reiterated Faizan Anees, Managing Director and co-founder of ThinkMarkets.