ThinkMarkets Adds Cryptocurrencies to CFD Offeringbr>
ForEx and CFD broker ThinkMarket will be expanding its contracts-for-difference (CFD) trading to include bitcoin, ethereum, Ripple and Litecoin CFDs. The cryptocurrency CFDs will be made available on its MT4 and Trade Interceptor platforms.
ThinkMarkets is a trading company providing retail and institutional clients foreign exchange, CFDs, and financial spread betting in major currencies, precious metals, and oil. The company’s main operations are in London with other offices in Dubai, Shenzhen, Shanghai, China, and Melbourne, Australia, where it is headquartered.
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.
The company will be offering 24/7 leveraged trading across all four of the aforementioned CFDs. ThinkMarkets’ users’ can also access cryptocurrencies on the firm’s mobile app, Trade Interceptor. The trading app offers technical analysis tools with over 80 indicators and oscillators.
Nauman Anees, CEO and co-founder of ThinkMarkets, said that bitcoin CFDs are a natural extension of its vast portfolio of financial instruments that include major currencies, stock indices, precious metals, and commodities. He said that the recent surge in volatility has triggered investor interest in the alternative digital asset class.