The company has stated it will not charge data fees or commission for trading the Australian shares, and will allow fractional trading with trade sizes as small as 1/10th of a share.
FXCM clients can now speculate on the growth or decline of Australian listed firms without incurring the hefty commission and data subscription fees charged by the majority of trading providers.
FXCM was founded in 1999 and is owned by the Jefferies Financial Group. It is regulated in several jurisdictions by the FCA in the UK, ASIC in Australia, CySEC in the EU and the Financial Sector Conduct Authority in South Africa.
The addition of Australian share CFDs adds to its current offering of US, EU and UK stocks. Additionally, you can trade forex, indices, commodities and crypto’s on the platform.
Brendan Callan, the company’s CEO, commented:
Brendan Callan Source: LinkedIn
The addition of Australian stocks along with our existing AUS200 index will not only benefit our Australian customers, but it will also create more opportunities for our entire global client base. Fractional shares remove a barrier for those who want to invest smaller sums, including underserved individuals who would like to experience trading. This new product complements our Hong Kong, UK, European and US offerings, as we close in on having stock trading available almost 24 hours a day.
FXCM has been increasing its presence within the Australian market recently after several campaigns.
Back in February, the company added seven new stock baskets to its product offerings. It also partnered with ZuluTrade earlier in the year to offer social and copy trading services to its platform.
Having gained a degree in economics, Alan entered the world of financial services starting his career in London and then moving to New York for a number of years. His first post at a City bank saw him establish a reputation as an forex trader. Having recently returned from New York after eight successful years, Alan is now a prosperous trader in his own right concentrating on commodities and forex.