ThinkMarkets, a forex brokerage licensed in Australia and the UK, formerly known as ThinkForex, announced it is launching CFDs trading for some of the most popular cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC).
They will be available on the MetaTrader 4 and Think Markets’ proprietary mobile trading platform Trade Interceptor.
“Bitcoin CFDs are a natural extension of our vast portfolio of financial instruments that include; major currencies, stock indices, precious metals and commodities. The recent surge in volatility has triggered investor interest in the alternative digital asset class and we are well positioned to service virtual currency traders with unmatched trading conditions”, said Nauman Anees, CEO & Co-founder of Think Markets.
“The surge in Bitcoin, driven by geopolitical tensions & market volatility, gives traders the opportunity to take advantage of daily price spikes. That’s why Bitcoin and digital currencies are set to become a key market for day traders”, said Faizan Anees, Managing Director and Co-founder of the brokerage.
CFDs on digital currencies are used mostly for speculative purposes and in the recent months have gained considerable popularity among brokers and traders alike. ThinkMarkets is simply the latest broker to start offering such instruments. In the last several months other brokers like FXTM, Alpari, Admiral Markets, AvaTrade, Grand Capital, Swissquote, eToro, FxPrimus etc. also started offering instruments with cryptocurrencies, be they CFDs (in most cases), the currencies themselves or investment copy funds.
Think Markets offers trading in forex, CFDs, energies and precious metals. Besides ThinkTrader, ThinkMarkets provides trading on the MetaTrader 4 (MT4) platform. The maximum leverage is 1:400 and the minimum operating balance (for Standard accounts) is 250. The broker offers individual, joint and corporate trading accounts.