On November 6, CMC Markets, one of the global suppliers of CFD and dissemination, announced support for XRP.
Tweet from CMC Markets UK:
"Ripple is now available to work with CMC markets, it is both a platform used for peer-to-peer currency transfer (RippleNet) and a digital currency (XRP ripple)."
Contracts by difference [CFD] it is a type of derivative trading that helps users negotiate on the margin based on falling or rising prices. Considering that, Spread betting, the trader will make a profit or loss based on whether the market moves in the chosen direction or not.
Trading XRP with CMC Markets helps the trader to use his spread or CFD bet. Unlike traditional exchanges, CMC Markets allows users to have the opportunity to speculate on price movements without having the current cryptocurrency.
The official CMC Markets post states:
"You're not taking control of the ripple, but you're opening up a position that will increase or decrease in value depending on the price movement of ripple against the dollar."
In order to use these products, traders must deposit a percentage of the full value of a transaction in order to open a position. This initial deposit will help traders get exposure to large quantities, says the post. This leveraged trading is based on the "full value of the position", which means that returns and losses will be equally amplified.
A Twittered named Cold_Dose says:
"It's great, I love this coin So much potential."
Proponent XRP Dr. T says:
"I think it's not true XRP, just a contract for the XRP price difference."
Another XRP enthusiast called rippleitinNZ says:
"From what I understand about CFDs, if correct, what you are doing is betting on the fact that a class of assets can appreciate or depreciate (short or long), often lured by leverage, all without holding a single unit of the underlying There would be no benefit for the absorption of xrp. "
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