TradeConnect, a digital brokerage, announced on Sunday the launch of its multi-asset trading network, bringing both crypto and traditional assets under a single platform.
According to the press release shared with Finance Magnates, the platform will allow traders to use digital currency holdings as collateral to trade forex, indices, energy, precious metals, and even crypto contract-for-differences (CFDs).
“Our goal is to use our many years of professional trading experience to bridge the gap between cryptocurrency and traditional markets in order to create more markets and thus more opportunities for traders whilst also lowering the barrier to entry for those in emerging markets who also want to access online crypto margin trading at the best price,” Athol Nourse, commercial director at TradeConnect, said.
Bringing trading on mobile platforms
The brokerage has also launched an iOS-specific mobile application to facilitate CFDs trading to its customers. As seen on the platform’s website, it is also developing a mobile application for Android users.
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The platform offers leverage of up to 100x and is boasting about its “institutional grade liquidity, instant order execution, no slippage, dynamic charting tools.”
“Crypto derivatives have gained a huge following in the past year, however, many platforms have low liquidity, hide fees in the spread, and some even trade adversarially against their users,” Nourse added.
TradeConnect offers trading facilities with over 50 financial assets including 36 forex pairs, 14 stock indices, and 6 commodities. For cryptocurrencies, it only offers two CFDs – one with Bitcoin against USD, and the other for Ethereum.
To ensure protection against any drastic market movement or even theft or hack, the platform has also taken a $100 million insurance protection via BitGo.