Cryptocurrency CFDs are now a must-have feature for all online retail brokers in order to retain clients judging by the scope of the industry that is adding the instrument. The international brokerage ADS securities is now offering five different cryptocurrencies to its traders.
ADS Securities Expands Crypto CFDs
Abu Dhabi headquartered international brokerage ADS Securities has officially announced that it is adding bitcoin cash (BCH), litecoin (LTC) and Ripple (XRP) based contracts for differences (CFDs). The company soft launched the new CFDs to clients a couple of weeks ago to test the waters and says it got a good response from them, so it will now be marketing the instruments more widely.
Traders using ADS Securities’ proprietary OREX platform are now able to trade five cryptocurrency CFDs including bitcoin (BTC) and ethereum (ETH) which were launched in 2017. To help push the new offerings, the company also reduced the spreads on these two instruments.
Cryptocurrencies Making Waves
Established in 2011, ADS Securities is part of the ADS Holding group offering online trading, investment banking and wealth management services. It is regulated and licensed by the UAE Central Bank, and has several regional branches around the world including the UK, Hong Kong and Singapore. It provides forex, bullion and commodities trading solutions to private and institutional investors banks, hedge funds, asset managers and more.
Jason Hughes, Head of Retail Sales at ADS Securities, commented: “We are delighted to be expanding the offering on our OREX platform to include these key cryptocurrencies. OREX enables users to access the crypto markets with ease, and the flexibility of CFDs allow our clients to take long or short positions, helping their management of exposures and positioning during the current volatility in these markets. Cryptocurrencies have been making waves for some time, however now that understanding of the market is growing, we believe it is the right time to introduce more coins on to our OREX Platform.”
Which derivatives are better for leveraged cryptocurrency trading, CFDs or futures? Tell us what you think in the comments section below.
Images courtesy of Shutterstock, ADS Securities.
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Author: Avi Mizrahi