Retail forex broker and provider of FX and CFD trading, FXCM (NYSE:FXCM) has just announced the introduction of cryptocurrency baskets to its retail customers.
CryptoMajor – the cryptocurrency basket – is made up of the 5 major cryptocurrencies: Bitcoin, Ripple, Litecoin, Bitcoin Cash and Ether.
CryptoMajor addresses hedging transparency issues by giving an equal weighting for each coin in the basket, ensuring the product is not overly exposed to just one crypto.
Brendan Callan, CEO of FXCM commentеd on the news:
Trading a basket of cryptocurrencies means our users are freed from the hassle of constantly monitoring the markets. CryptoMajor therefore streamlines the trading process and protects our customers from unanticipated and adverse market movements. It is a great opportunity for our customers who are looking to move into Crypto trading but don’t want to risk too much overexposure.
The CryptoMajor basket is available on all of FXCM’s flagship platforms plus MetaTrader 4, NinjaTrader, and via API.
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