Spread Bets and CFD Trading Added Onto Seven Additional Cryptocurrencies
CMC Markets PLC, they are the worldwide global providers for online trading for this market space. Today, they revealed that they had added several new cryptocurrencies to their service. This has allowed for traders or brokers to trade Spread Bets or CFDs on any of these currencies.
This highly advanced platform now doesn’t allow for its clients to access cryptocurrencies like Bitcoin, LiteCoin or Etheruem. It will also enable the clients to now access Tron, Stellar, NEO, EOS, Dash, Cardano and Monero.
The last time that CMC Markets PLC added new cryptocurrencies to its service was in October of 2018. Back then they added Bitcoin Cash, Ripple and LiteCoin. Due to the additional coins mentioned above, there is now a total of twelve cryptocurrencies available on the CMC Market.
Recently, this worldwide global provider for online trading also lowered the Spread Bets on cryptocurrencies that were previously tradable CFD’s. The global provider reduced its margins on CFDs for clients across all crypto coins by an average of 50%.
CEO of CMC Markets, David Fineberg, commented on this announced:
”Recently we have seen that traders are rediscovering cryptocurrencies. The volatility seen in early 2018 has subsided making them a less risky, and increasingly attractive, asset class. By expanding our offering, we are now able to satisfy our customers’ desires for alternatives to the original bitcoin and Ethereum. Not only is the number of tradable crypto-CFDs impressive, but we have also improved the trading conditions for our clients by providing some of the lowest spreads in the industry.”
The CMC Market space reported at the beginning of this month that the ESMA CFD Leverage Cap has impacted their performance for 2019. The reduced client trading that followed this leverage cap is going to cause for what the company expects to be a 37% decrease in revenue for 2019.