Russia-based forex broker InstaForex said on Monday it has expanded its product portfolio with contracts for difference (CFDs) on the shares of Japanese videogame giant Nintendo. The company’s shares are traded under the ticker symbol #NTDOY.
The broker said it decided on the move as investors view Nintendo’s shares as lucrative investment after the launch of Pokemon GO. The game was launched on 6 July, 2016, and is only available for mobile devices with Android or iOS operating systems. Following its boom, Nintendo’s shares reached their highest value of JPY 32.7 per unit, which is more than double as compared to pre-release. However, later the shares went back to their pre-Pokemon Go price after the majority of investors realized Nintendo was not directly involved with the game. The Japanese game developer owns a stake of 32% of The Pokemon Company, an affiliate that holds the rights to Pokemon, as well as a 13% stake in Niantic, the true developer of Pokemon GO.
Following is more information on Nintendo’s share price movement in the past three months:
InstaForex joins the club of brokers that include Nintendo’s shares to their product offering. In July, UK-based Fortrade also launched trading in CFDs on the Japanese company’s stocks. Russia-based ForexClub also started offering the same product as of the beginning of August.
InstaForex, part of Insta Forex Group, is an electronic communication network (ECN) forex broker registered in Russia. It offers access to more than 100 forex currencies and 200 contracts for difference (CFDs) trading instruments, including futures, gold and stocks. The broker operates in more than 80 countries.
The InstaForex group also consists of InstaTrade, InstaMedia, Insta News Service, and MT5.com, which is an internet data portal of the group companies.