AvaTrade Crypto Trading Platform Welcomes Stellar (XLM) and DASH Token Support
AvaTrade, the financial trading firm, has on Monday announced the apparent expansion of its cryptocurrency offering by adding two existing cryptos- Stellar and Dash. The introduction of the new coins will be available through AvaTrade's CFDs trading suite, which grows its existing portfolio for clients.
The team at AvaTrade made the release statement via an official tweet on the platform's handle.
We are proud to announce 2 exciting additions 🌟 to our portfolio! Dash (DASHUSD) and Stellar (XLMUSD).
Trade XLM and DASH today! #cryptocurrency #dash #stellar
— AvaTrade (@AvaTrade) December 17, 2018
The move to introduce the cryptocurrencies to its CFDs could allow traders on AvaTrade to have a wider opportunity of investing in the digital assets. The CFD suite on AvaTrade offers added flexibility where traders can go short on a commodity price they do not even own. Crypto traders could, therefore, invest in the assets without having actually to buy or own them.
The suite further gives an added advantage with its vast array of tools available for use. While CFD does differ from the traditional market, they still offer benefits such as margin trading, stop orders and leverage.
More insights to the announcement also indicated that the rollout is just the beginning of AvaTrade latest shift in focus to concentrate on the cryptocurrency market. In addition to Stellar and Dash joining, AvaTrade wants to introduce new trading conditions that will have a 50% reduction in crypto trading swaps. The move could see lowered expenses concerning fees charged for exchanging different cryptocurrencies.
The decision by AvaTrade to introduce Stellar and Dash cryptos to its suite, confirms the growing demands for innovative derivative products. The financial firm has been at the forefront of introducing crypto instruments to its clients over the past few years. For example, AvaTrade continues to grow its crypto suite since it started in mid-2017 aggressively. The crypto-suite listing comprises of nearly fifteen coins from an initial two.
Earlier in the year, AvaTrade sought to prelaunch its affiliate program terms in a bid to grow the online crypto client market exponentially. The venture's goal was to attract cryptocurrency traders through accommodating AvaTrade's brokerage efforts in the crypto CFD asset industry.
Despite the considerable market slump witnessed with Bitcoin and other coins, cryptocurrency trading is still ripe for exploitation and benefit. The massive volatility observed gives traders the chance to try out new instruments that are ideal for investors. CFDs, in many ways, may turn out to be the best chance for investors looking to buy into the crypto bear run without having to make a loss. The technology is, of course, drawing attention and AvaTrade may see an increase in activity if their additions are added successfully.
AvaTrade is a financial market trading platform with interests in online trading and commitment to building a reliable and innovative environment for trading. The firm combines the efforts of financial experts and professionals to assist people to invest and trade in Forex, CFDs and now cryptocurrency markets.