CMC Markets, one of the big players in the retail trading space, has included three additional coins to its cryptocurrency spread betting and CFDs offering: litecoin (LTC), bitcoin cash (BCH) and ripple (XRP).
Clients are now able to take a position on the three altcoins paired against the U.S. dollar.
Fulfilling customer demand
At the beginning of the year, CMC Markets’ offering included only bitcoin and ethereum. However, the need for adding more coins has surged, which resulted in expansion of the offer.
“Since the successful launch of our cryptocurrency offering in March, and subsequent extension to retail clients in July, our clients have expressed interest in extending their trading options beyond bitcoin and ethereum. We are pleased to offer them the chance to take a position on bitcoin cash, litecoin and ripple, three altcoins which continue to generate much speculation among traders,” said David Fineberg, Group Commercial Director.
Mr. Fineberg added that they always recommend clients to understand the risks and conduct a thorough research before trading.
Do your research
Like any investment, it is important to do lots of research before you begin. Spread bets and CFDs are leveraged derivative products, whose values derive from the underlying asset. In these trades, the investor can take a position on market movements without owning the asset.
CMC markets entered the cryptocurrency CFDs race carefully, after its rivals such as Plus500, IG Group and Admiral Markets paved the way.
With almost 30 years of successful operation, CMC Markets has grown to become one of the leading retail forex and CFD brokerages. CMC Markets is well-known among traders for their online trading education in the form of webinars and seminars, downloadable trading guides and videos on demand. With more than 10,000 financial products to choose from, CMC Markets is one of the top choices when it comes to choosing the right broker for your trading career.