ETX Capital Deploys Bitcoin CFD Trading for Clients
ETX Capital, A London-based FCA regulated brokerage, just embraced bitcoin. They now offer a full suite of bitcoin services and contracts for their clients. They decided to move into the bitcoin ecosystem as a result of high demand. Their clients were itching to experience exposure to the digital currency, and attempt to capitalize on its upward price trajectory.
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A Financial Magnates article summarized ETX Capital’s foray into the crypto ecosystem. They said, “London headquartered, FCA regulated brokerage ETX Capital has become the latest retail trading venue to launch access to Bitcoin trading. The move comes amidst an uptick of demand for cryptocurrencies and investor appetite for the instruments with volatility still permeating the market.”
ETX Capital Services for Bitcoin
ETX offers several premium services for bitcoin trading. Clients can trade bitcoin as a “spread bet” or “contract-for-difference” (CFD) via its multi-asset proprietary trading platform,” explained the article. The trading is facilitated by the Tradepro app on desktop or mobile applications.
CFD’s have been popular via brokerages, because clients do not want direct exposure to bitcoin “volatility.” Clients prefer to hedge their bets against bitcoin’s price fluctuations by using a derivative-driven kind of trading. This means traders can speculate on the rising and falling prices of the currency rather than holding the digital currency on a personal wallet. The CEO of ETX, Andrew Edwards commented on the future of their bitcoin trading system:
Adding Bitcoin to our large base of over 5,000 markets is one of the next steps in our continuing commitment to rollout new products and technology improvements that create more trading opportunities for our clients. There’s a lot more to come in the following months.
This ongoing rollout of bitcoin services follows on the heels of ETX Capitals recent release of their web trading platform. They seem to be gearing up for more mobile and on-the-go trading as the world sees greater bitcoin adoption.
Brokerage Involvement With Bitcoin Intensifies
ETX capital is not the only brokerage firm to venture into the bitcoin and cryptocurrency ecosystem. Previous months have seen a swathe of capital investment and trading firms embrace digital currencies and blockchain assets.
Most recently, Sweden’s largest online stockbroker Avanza has added bitcoin services. Some platforms have also integrated bitcoin cash trading. Avatrade and Admiral markets have introduced bitcoin cash CFD trading back in August. A Russian Forex broker, Alpari, has also launched a bitcoin trading pair.
In this regard, the CFD and brokerage/derivatives market for bitcoin seems to be booming. There does not appear to be an end in sight to the brokerages that are swallowing the crypto pill and embracing the changing financial landscape.
What do you think about ETX Capital offering bitcoin contracts? Are all of these brokerages offering indirect exposure to bitcoin a good thing? Let us know in the comments below.
Images courtesy of Shutterstock and ForexBrokerz.com
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