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Until now, the operator has supported only contracts based on Bitcoin (BTC) and Ethereum (ETH) for betting on differences and spreads.
One of the leading global online trading platforms, CMC Markets, has entered deeper cryptic waters after adding three new virtual currencies to its contracts based on digital assets by difference (CFD) and spread betting options. The three coins are XRP (XRP), Bitcoin Cash (BCH), is Litecoin (LTC), the trading venue based in the United Kingdom He said in a statement on Tuesday.
CMC Markets customers can now open positions on XRP / USD, BCH / USD and LTC / USD pairs. The addition of these assets has more than doubled CMC cryptographic services, as the company previously offered only offers Bitcoin (BTC), is Ethereum (ETH).
XRP, BCH and LTC are available to both institutional and retail investors, as the company recently did expanded his crypts-offers to individuals.
"Since the successful launch of our cryptocurrency offer in March and its subsequent extension to retail customers in July, our customers have expressed an interest in extending their trading options over bitcoin and ethereum, David Fineberg, CMC Group sales director explained in press release of the company.
"We are pleased to offer them the chance to take a cash position bitcoin, litecoin and ripple, three altcoins that continue to generate many speculations among traders."
Contracts for difference as well as spread bets allow customers to speculate on virtual assets without having to own cryptos, contrary to the way the digital currency exchange works. CFDs operating in the European Union are subject to limit 2: 1 for retail investors up to January as part of the investor protection package of the European Securities and Markets Authority (ESMA).
"CFDs are a leveraged product, which means you only need to deposit a small percentage of the total transaction value to open a position." This is called "trading on margin", "as per CFD" view on the CMC Markets website.
"While margin trading allows you to maximize your earnings, losses will also be magnified because they are based on the entire position value, which means you may lose more than any deposited capital."
CMC Markets operates in more than ten countries around the world, including the United Kingdom, Germany, France, Spain, Canada, Australia, New Zealand and Singapore. The company places a license from the regulator of the British market, the Financial Conduct Authority (FCA), which requires strict anti-money laundering rules (AML), including know-your-customer (KYC) procedures.
