The online trading provider InterTrader has decided to launch a new product to the market. It will be offering contracts-for-difference (CFD) on five different virtual currencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH) and Ripple (XRP).
The London-based company is the latest FCA-regulated broker that adds cryptocurrency derivative products to its trading platform. Moreover, InterTrader will be giving investors the advantage of tax-free profits while trading digital assets.
InterTrader is listed on the London Stock Exchange and is part of GVC Holdings PLC, an important sports betting and gaming group. The group operates some leading brands including bwin, sporting bet, PartyPoker, and Foxy Bingo.
Shai Heffetz, managing director of InterTrader Ltd, commented:
“We aim to offer our clients a safe and straightforward way to trade cryptocurrencies. Our clients can now gain exposure to changes in value of a wide range of cryptos, with the added benefit of our 100% market-neutral execution.”
With these new CFDs, users will be able to trade Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple against the US dollars as a CDF. Additionally, the offering will come with access to margin, financing and the possibility to take short and long positions. In order to offer these tools, the brokerage may need to establish liquidity relationships with multiple exchanges.
There has been a rapid growth of these kind of financial tools in the United Kingdom (UK). Cryptocurrencies have been calling the attention of many investors and enterprises did not want to lag behind.
The last year, governmental institutions and agencies such as the FCA have been warning investors about cryptocurrency CFDs because of their high-risk and volatility.