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Screenshot of a breaking news alert e-mail from Q2 2017
FCA and ASIC regulated retail FX and CFD broker ThinkMarkets has announced that it has extended its footprint in the popular digital currency trading space, adding a new range of Cryptocurrency financial derivatives contracts.
After we reported last month about ThinkMarkets launching trading for its clients in Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC) CFDs, the London and Melbourne based broker has added four more digital currencies, now offering a total of eight including Bitcoin, Bitcoin Cash, Litecoin, Dash, Monero, Ethereum, Neo and Ripple.
Nauman Anees, CEO and Co-Founder commented about the launch of the new products:
We’re pleased to enhance our range of Crypto CFDs, this highlights the firm’s ongoing commitment to the sector and strengthens our position as one of the world’s largest providers of cryptocurrency derivatives.
The cryptocurrencies are available to users on the Trade Interceptor and MetaTrader 4 platforms at prices that are amongst the most competitive in the industry. The ThinkMarkets Crypto CFDs are offered at spreads from as low as 15 pips, coupled with flexible leverage of up to 25:1.
Joe Rundle, Director of Trading, added:
Our core infrastructure, of a robust and sophisticated risk management & pricing engine, enables us to provide our clients access to these additional Crypto CFDs with some of the best trading conditions in the marketplace.
A ThinkMarkets trading account allows traders to trade all the top cryptocurrencies alongside major FX crosses, CFD indices & commodities, online with the security of a fully regulated broker.
The additional asset classes are available for trading during the weekend, which makes it ideal for traders with limited time during the week or those looking to diversify their trading.
The products are also available on the Trade Interceptor mobile app, thus reinforcing ThinkMarkets ‘Mobile-First’ strategy of providing the largest, most liquid and competitive financial products on mobile.
“Our ethos is to offer the best products and services to the global trading and investor community. To achieve that, we take clients requests seriously. They asked for more Crypto CFDs on mobile and we listened!” said Faizan Anees, Managing Director and Co-Founder.
With CFDs, investors and holders of cryptocurrencies can manage and mitigate their downward risk. The CFD, a financial derivatives contract, allows traders to go ‘long’ and ‘short’ thus reducing exposure during bear markets, during volatile times the price of Bitcoin has traded in a 10-20% daily range.
Naeem Aslam, ThinkMarkets Chief Market Analyst is bullish on the virtual currency market and believes that Bitcoin could reach $619,047 in 10 years, as he opined in a note on Forbes.