Global forex broker HYCM announced adding 83 new stocks to trade on the MT5 platform. The new instruments will be available on all account types and will include popular assets such as Nike, Adobe, Berkshire Hathaway, Dropbox, GoDaddy and Gilead Sciences stocks.
Giles Coghlan, Chief Currency Analyst, commented:
Giles Coghlan Source: LinkedIn
With large swings in price across the major indices, people want to drill down into the fundamentals for specific stocks. They are looking for some of the individual winners and losers in our COVID-19 impacted world. With renewed interest across several different sectors, it was only a natural step for us to give HYCM clients wider access to new individual stock opportunities.
The desire for ETFs is growing year on year and that trend is showing no signs of slowing down. This is a very understandable trend for the retail trader. This is because ETFs allow for simple, low-cost access across multiple markets. They can be sector-based like health care- or tech-related. They can be index-linked or even specific to an individual commodity. This flexibility is what makes ETFs so suitable for investors and why we wanted to expand our offering. Furthermore, unlike futures markets, there are no tricky contract rollovers to deal with, so they are a great way of gaining exposure to different markets, especially with all the volatility and change experienced this year. The recent renewal of Brexit risks, COVID-19 changes to our way of doing business, the upcoming US elections, and a constant backdrop of US-China trade tensions all offer opportunities as well as risks. ETFs can be a great instrument for navigating your path through these changes.
Finally, the low-interest rates of central banks across the world, the devaluing of currencies through quantitative easing programmes, and the often-touted risk of high inflation levels all lead investors to look for alternative places of safety. Gold is the most popular hedge in these times, but there is also a strong renewed interest in areas like the cryptocurrency space. The popularity of cryptocurrencies is set to grow as investors look to hedge deflationary risk by keeping some of their portfolios in the crypto space.
The addition of new assets is part of HYCM’s global strategy to expand its portfolio to satisfy the needs of different types of traders and in response to market trends.
Independent writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.