Ripple, Litecoin And Bitcoin Cash Added To ADS Securities’ Trading Platformbr>
Abu Dhabi-based financial services firm ADS Securities has added three cryptocurrency derivative products to its proprietary OREX platform. Users can now trade Ripple, Litecoin, and Bitcoin Cash alongside the already installed bitcoin and ethereum.
ADS Securities offers commodity trading (precious metals such as gold, platinum, silver, and palladium), foreign exchange, and multi-asset investment services. It provides foreign investment markets analysis on CNBC, Bloomberg, and CNBC Arabiya. It is one of the biggest foreign-exchange traders in the UAE and serves central banks, asset managers, brokerage firms, and hedge funds.
ADS Securities soft-launched the new cryptocurrencies to existing customers in mid-March in order to gauge response from its clients, and positive feedback resulted in permanent listings for the three cryptocurrencies. To coincide with the broader launch of this enhanced cryptocurrency offering, the company has reduced the spreads on ethereum and bitcoin to reduce the cost of trading for its clients.
Jason Hughes, Head of Retail Sales at ADS Securities, said they believe it is the right time to introduce more tokens onto their OREX platform because the understanding of the market regarding cryptocurrencies is growing.
“We are delighted to be expanding the offering on our OREX platform to include these key cryptocurrencies,” said Hughes. “OREX enables users to access the crypto markets with ease, and the flexibility of CFDs (contract for difference) allow our clients to take long or short positions, helping their management of exposures and positioning during the current volatility in these markets.”
Over the past decade, CFDs have become one of the the most popular ways for online investors to trade stocks, commodities, indices, and currencies. Crypto CFDs allow investors to speculate on a change in price of a cryptocurrency, such as bitcoin or ethereum, and use leverage. Investors do not have to set-up crypto wallets or deal with exchanges.