Libertex Group has become the second contracts for differences (CFDs) broker to launch a fully functional trading app inside the Telegram messenger platform. The only other such app of a CFDs broker available on the messaging platform is NAGA.
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A New Channel for Libertex
The Libertex Telegram mini app allows traders to register as new users, log in, manage accounts and execute trades, all without leaving the messaging platform’s environment.
“With a multi-million active user base worldwide, Telegram has long since moved beyond being a simple messenger, becoming a multifunctional hub for communication, community building, and now trading,” a Libertex representative noted in the official announcement.
Telegram has about 450 million daily active users. The app is popular because of its end-to-end encryption features. According to unofficial estimates, India, with over 100 million active users, is the largest market for the app, followed by Russia, Indonesia and the United States.
Telegram is also popular among retail traders. Many forex brokers maintain active channels on the platform, among a flood of mostly signal providers. Some of these third-party services are legitimate, but the app also hosts many fraudsters.
“All instruments are available: from investing in real stocks with zero commission to CFD trading on currencies, indices, ETFs, commodities and cryptocurrencies,” the official Libertex announcement added.
“Communication and investing are combined in a single app, allowing traders to communicate and trade simultaneously.”
Are Telegram Mini Apps the Future?
NAGA was the first CFDs broker to launch a Telegram mini app last year. The move proved a massive success, with the Germany-listed broker revealing that 8 per cent of its new client acquisition now comes through the mini app.
Read more: NAGA Brings CFDs to Telegram
Meanwhile, the Telegram mini app crypto exchange Blum, launched last year, has become one of the most popular such apps on the messaging platform. Blum’s CEO also revealed that more than 50 per cent of active users were crypto newcomers.
However, Telegram faces accessibility issues in some major CFDs markets. Vietnam, which has become a growth market for many CFDs brokers, blocked access to Telegram earlier this year. A new Russian law also forced local forex brokers to end support on Telegram.
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