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The FXCM Group, which is a global FX brokerage, has gone ahead to expand its range of cryptographic tools they have, and now will be able to offer its users the CFDs on the second most popular currency available on the market, the Ethereum, that's all for his trading accounts.
The company went ahead to present the new asset at the beginning of last year when it initially started testing the service; this is when their Bitcoin offer has already been installed.
The year of the cryptic world has prospered in the years 2017 and 2018, as we have seen retail intermediaries that integrate the digital currency into the offers. And from this, the FXCM group has joined the crowd, and this is ensuring that they have implemented a diversified cryptographic offering in the current suite of services they have implemented.
With the FXCM Group introducing CFD trading on Bitcoin, has been marked as the first stage in which the company took a decisive step in the crypto arena. And from this, we should expect to see the release of other cryptographic coins that will take place in the near future.
The expansion of current cryptographic services
Among the UK-based improvement and CFD providers, there has been rapid growth as they are looking for ways in which they are able to cash in the current meteoric rise that is occurring in the cryptic world. This includes the Admiral, ICM Capital, Plus500 markets, just to name a few.
Some of the great rivals of the FXCM, this includes the GAIN Capitals FOREX.com together with the City Index brands, have also been able to offer an expanded Crypto suite to customers based in U.K, Singapore, Australia and Europe. Their current customers will be able to easily exchange cryptocurrencies as a future or over-the-counter derivative. There is also limited access to leverage along with the ability to take both short and long positions.
For other brokers on the market, they tend to offer their users an encrypted currency with a spread bet, and from this, they have been able to give them an additional advantage for tax-free profits when the digital goods trade takes place.
The FXCM Group we could have referred to the CDF as a way to offer its users a commercial encryption because of the current difficulty that exists in covering positions in the real market. Thus, this will make this derivative a primary alternative to different underlying assets.
The CEO of FXCM Group, Brendan Callan, commented that after the successful launch of the Bitcoin CDF by the company along with customer demand, they continued to add the Ethereum service to their CFD list, and from this it plans to continue launching more CDFs for the cryptic market.
It is clear that cryptographic coins have gained popularity, as more and more commercial opportunities continue to make their way into the market.
At present there is a massive demand from retail currency traders for the CDF crypts service, mainly due to the fact that they are able to go both short and long. The company may not be the first on the market to launch this service, but does not see the offer of a competitive suite of cryptographic coins.
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