CMC Markets expands crypto CFDs offer with XRP, BCH and LTC

Difference contracts are suitable for hedging other deposit positions. Losses in crypto currencies can also be offset in this way. Broker CMC Markets now offers additional CFDs with crypto reference.

Successes since March lead to expansion of crypto offering

In the spring of this year, the well-known broker in the field of trading in contracts for difference responded to the interest of its international clientele by introducing CFDs on Bitcoin and its competitor Ethereum on its trading platform. As part of its continued business model expansion to private investors with smaller budgets since the summer of 2018, the apparently considerable successes have now been followed by additional coins. In addition to the Ripple, traders can now also use the Bitcoin Cash and the Litecoin in US dollars for their CFD activities. The expansion of crypto CFDs is immediate and without any time delay.

Traders can reduce or prevent potential price losses

Customers of the broker can now “bet” on both falling and rising prices of the now five different tokens – typical for difference contracts in which not physical values are acquired but price fluctuations are speculated on. For owners of the crypto currencies in question, this ideally means that they do not necessarily have to sell their reserves in the event of a collapse in order to avoid dramatic losses immediately. Instead, traders can speculate on sharp movements at the broker and take profits in the meantime. Experts also speak of hedging in this case. Large sums do not have to be invested in order to open positions on the various prices. Nevertheless, traders must be aware of the risk of loss.

CFD industry increasingly opening up to digital currencies

For company boss David Fineberg, the addition to the selection is the logical consequence of customer feedback in recent months. The hint of the new possibilities with the broker is not intended to be a recommendation. Rather this example shows once more clearly that crypto currencies arrive gradually also in other areas of the financial market. CFD traders no longer have to deposit money into accounts at crypto exchanges in order to participate in price developments without real purchases. Customers of the provider can now trade five of the currently most important currencies of the crypto market.

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Sarah Wurfel
Sarah Wurfel

Sarah Wurfel works as a social media editor for CaptainAltcoin and specializes in the production of videos and video reports. She studied media and communication informatics. Sarah has been a big fan of the revolutionary potential of crypto currencies for years and accordingly also concentrated on the areas of IT security and cryptography in her studies.

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