London based online FX, CFDs and spreadbetting broker CMC Markets Plc (LON:CMCX) has just announced that it has expanded its cryptocurrency spread betting and contracts for difference (CFDs) offering to include three additional coins: bitcoin cash, litecoin and ripple. Clients can now take a position on the three altcoins paired against the US dollar.
David Fineberg, Group Commercial Director, said:
Since the successful launch of our cryptocurrency offering in March, and subsequent extension to retail clients in July, our clients have expressed interest in extending their trading options beyond bitcoin and ethereum. We are pleased to offer them the chance to take a position on bitcoin cash, litecoin and ripple, three altcoins which continue to generate much speculation among traders.
Spread bets and CFDs offer a way to trade on cryptocurrencies as clients can take a position on market movements without owning the asset. By trading with an established provider, funds can be deposited and withdrawn with ease, avoiding the risks of purchasing cryptocurrencies directly through an exchange. However, like all other financial instruments we offer, we always recommend clients understand the risks and conduct thorough research before trading.