Global FX brokerage group Gain Capital Holdings Inc (NYSE:GCAP) has announced the launch of Bitcoin trading on City Index, its FCA regulated service in the UK.
Glenn Stevens, GAIN Capital
Glenn Stevens, Chief Executive Officer of GAIN Capital stated:
Cryptocurrencies are one of the most exciting trends shaping today’s markets. We are pleased to provide our clients with the ability to trade Bitcoin through an established, regulated firm, without the need to set up a digital wallet or execute through a Bitcoin exchange. We are excited to expand our offering for City Index customers, who can now trade cryptocurrencies along with more than 12,000 other markets, including FX, indices, commodities, equities and rates.
City Index UK customers will be able to trade Bitcoin either as a spread bet or as a contract for difference (CFD), with access to competitive spreads, margin and financing, as well as the ability to take both long and short positions. GAIN Capital has established liquidity relationships with multiple Bitcoin exchanges and uses these leading exchanges to produce a volume-weighted average price that is reliable and transparent.
The company said that it plans to roll out Bitcoin trading to its City Index customers globally over the coming quarter, as well as expand the offering to its FOREX.com customers in select markets before the end of the year.