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The forex broker XTrade announced it is expanding its asset portfolio with Exchange Traded Funds (ETFs). According to the company, the addition of ETFs was made upon client demand.
“Our traders are excited about ETFs, which are cost-effective, transparent, and highly popular among traders who want to combine many trades into one simple transaction,” said Paul Sirani, XTRader Chief Markets Analyst. “I believe that management’s decision to offer trading on ETFs is a major development in retail online trading, as these financial instruments were previously available only to large institutional participants.”
ETFs are a marketable security that tracks an index, a commodity, bonds or a basket of assets, similarly to a common stock on a stock exchange. ETF’s prices change throughout the day and trade like a stock. The ETFs have higher daily liquidity and lower fees and are an attractive alternative for individual investors.
XTrade holds licenses from the Cyprus Securities and Exchange Commission (CySEC) as Xtrade Europe, the Belize International Financial Services Commission (IFSC) as Xtrade.BLZ and the Australian Securities and Investments Commission (ASIC) as Xtrade.AU. In July the broker joined Russia’s self-regulatory organization NAFD (former CRFIN) and said it will apply for a Russian license.
Recently Xtrade also obtained a license from South Africa’s Financial Services Board.
Xtrade offers trading in forex, commodities, indices, shares and CFDs on its proprietary platform Xtrader Pro. Its European head office is in Cyprus, but the contact numbers are from the UK. It is active in some of the EU countries, the Middle East and Southeast Asia.
Earlier this week XTrade got a hefty fine of €225 000 from the Cyprus Securities and Exchange Commission for a number of violations.