International Capital Markets (IC Markets), an Australian-based ECN foreign exchange provider, has expanded its list of tradable products by adding four new cryptoccurencies.
Except from Bitcoin, clients will be able to trade Ethereum (ETH/USD), Bitcoin Cash (BCH/USD), Lite Coin (LTC/USD), and Dash Coin (DSH/USD).
Fulfilling client needs
The new additions came as the aftermath of the increased global demand for cryptocurrencies. The broker made possible for its clients to trade Bitcoin in August this year.
“As a speculative medium, there are few products in the world that can compare with Cryptos right now. Since our clients are active traders, we give them the products with the best opportunities to trade as well as the best trading conditions to fully exploit these opportunities. These additions highlight our commitment to provide our clients with opportunities relevant to the current financial landscape,” said Angus Walker, IC Markets Director.
It is important to emphasize that the new cryptocurrencies will be also offered as CFDs, enabling traders to go long or short on margin. The new cryptos are highly liquid and well supported across multiple exchanges.
2017 has been the year of cryptocurrencies with not just Bitcoin receiving increment in trading activity.
The first example is the Ethereum platform, that launched in 2014 with Ether tokens currently valued at $92 a piece. Bitcoin itself has almost doubled in price since March.
Consequently, many brokers joined the cryptocurrency frenzy. Some of the brokers which expanded their cryptocurrencies offering are ThinkMarkets, easyMarkets and RoboForex.
ThinkMarkets added Bitcoin Cash, Dash, NEO and Monero, while easyMarkets launched Bitcoin CFD trading on its platform. As for the RoboForex, the brokerage has entered into the bitcoin ecosystem by adding bitcoin CFD trading on their platform. The broker has also added ethereum to their available trading pairs.
Eight most liquid digital currencies are Bitcoin, Litecoin, Bitcoin Cash, Monero, Dash, Ethereum, NEO and Ripple.