CMC Makes Major Changes to Marketplace and Crypto Listings, Showcases 7 Additional CFDs
Based in London, CMC Markets has made a name and reputation for itself as a robust trading provider and bet spreading system, and has since announced that it will be making major changes to its cryptocurrency range, which also involves the inclusion of a broader range of crypto-related instruments as well as offering trading support for a range of additional coins.
According to the CMC Markets team, for the moment, it intends on installing derivatives of Cryptos along with . its already installed assets – Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), LiteCoin (LTC), and Ripple (XRP).
According to recent reports, this newly updated list of Crypto based CFDs are fully validated thanks to CMC Markets already existing regulation under Financial Conduct Authority (FCA). This new line up of derivatives now consists of the new additions – DASH, EOS, Monero, NEO, Stellar, Cardano, and TRON.
This is a significant plus for investors on the platform, as well as those looking for a well-regulated company to trade an ever diverse portfolio of cryptocurrency derivatives, while also enabling already existing traders to more meticulously diversify their crypto holdings.
CMC Markets first introduced a crypto based derivative product in March 2018, which went on to debut with a great deal of popularity among long-time and new investors. Largely thanks to the fact that these derivatives allowed for the added advantage of tax-free profits when closing a position. With the success of this early product, CMC would go on to offer a range of spread bets and other crypto CFDs to its customers. Initially, this only consisted of its professional clientele, before being introduced to its entire user base after several months.
Over this same span of time, CMC Markets had reported on a steady lowering of spreads within its spread bets for clients. Allowing for lower spreads of trading within cryptocurrency CFDs. In total, according to the company, this resulted in a reduction of 50 percent on average.
FX Brokerage – CMC Markets is Continuing its Friendly Approach Towards the Crypto Community
At this moment in time, those trading through CMC Markets will be able to trade in cryptocurrencies through spread bets, or through one of its increasing range of contract for difference (CFDs), with a greater access to ranges of margins as well as financing for your portfolio, allowing as well for the taking on of long or short positions depending on investment strategy.
These services often necessitate a brokerage that has the ability to establish firm relationships with other cryptocurrency exchanges so as to ensure that there is sufficient liquidity for trading on the platform. These same relationships also allow for the production of a volume-weighted price average to be provided for the platform.
Over the course of 2018 and now this year, we are seeing more CFDs operating within the United Kingdom, as well as providers of spread betting aiming to dive into the world of cryptocurrencies, with the amount increasing at a meteoric pace. Some of these companies include the likes of Gain Capital's City Index, Trading 212, Plus 500, among a range of others, all of which seeking to diversify its offerings in order to draw in cryptocurrency investors and enthusiasts.
David Fineberg, who serves as the companies Deputy Chief Executive Officer made the following statements about the companies inclusion of a new range of cryptocurrencies:
“Recently we have seen that cryptocurrencies are being rediscovered by traders. The volatility seen in early 2018 has subsided making them a less risky, and increasingly attractive, asset class. By expanding our offering, we are now able to satisfy our customers’ desires for alternatives to the original bitcoin and ethereum. Not only is the number of tradable crypto-CFDs impressive, we have also improved the trading conditions for our clients by providing some of the lowest spreads in the industry.”