FCA and ASIC regulated retail FX and CFD broker ThinkMarkets has announced that it has expanded its offering of CFD trading to the four most liquid crypto currencies.
The firm added Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC) CFDs to its MT4 and Trade Interceptor trading platforms. The dual regulated broker is now offering 24/7 leveraged trading on the most volatile virtual currencies with low spreads and competitive margins.
Nauman Anees, ThinkMarkets
Nauman Anees, CEO & Co-founder commented about the launch:
Bitcoin CFDs are a natural extension of our vast portfolio of financial instruments that include; major currencies, stock indices, precious metals and commodities. The recent surge in volatility has triggered investor interest in the alternative digital asset class and we are well positioned to service virtual currency traders with unmatched trading conditions.
Instruments such as Bitcoin and Ethereum have witnessed daily price swings in the range of 10-20% thus gaining world-wide traction among technical traders and investors.
Faizan Anees, Managing Director and Co-founder said:
The surge in Bitcoin, driven by market volatility, gives traders the opportunity to take advantage of daily price spikes. That’s why Bitcoin and digital currencies are set to become a key market for day traders.
ThinkMarkets clients can also access crypto currencies on the firm’s mobile app, Trade Interceptor. The world’s most search-for trading app offers state-of-the-art technical analysis tools with over 80 indicators and oscillators, including the popular Trend Risk Scanner, only available through a Trade Interceptor account.
“The Trade Interceptor app offers some of the most advanced and sophisticated analysis tools. The platform has over 550,000 downloads and we expect global Bitcoin investors to benefit from our tight spreads, stable pricing and swift order execution, coupled with the most in-depth selection of charting and analytics exclusively available on mobile”, Faizan Anees added.
Crypto CFDs are used by traders and investors for a number of reasons, notably for hedging and speculative purposes. With Bitcoin’s sudden movements in price, physical buyers of the coin can hedge their exposure and manage their downside risk by using CFDs as they allow both long and short trades.
ThinkMarkets’ Chief Market Analyst, Naeem Aslam forecasted a continued bull run in the price of Bitcoin; “Looking at the current momentum, I still hold the target of 5,500 per Bitcoin by the end of this year. The current pull back is confirming that many investors are not ready to sell, therefore, this could be an opportunity to come join the trend.”