CMC Markets has announced an increase in client demand for cryptocurrencies as clients look to gain exposure using derivatives especially since mid-May 2019. The trend may be driven by Facebook’s Libra project and G20 scrutiny of the asset class, according to the global leader in spread betting and contracts for difference (CFD).
This latest move towards cryptocurrencies coincides with the recent launch of three bespoke cryptocurrency index baskets at CMC Markets, which complement the 12 individual coins which can also be traded by clients. The new indices allow clients to gain exposure to a bundle of different coins while keeping order minimums and trading costs low. CMC Markets has full control over composition and provides absolute transparency in terms of pricing.
‘All Crypto Index’, ‘Major Crypto Index’ and ‘Emerging Crypto Index’ are available for trading since late June 2019.
David Fineberg, Deputy Chief Executive Officer, commented:
“Cryptocurrencies are catching the attention of traders who may have traditionally been focused on equity indices or fiat currencies. Our proprietary Next Generation trading platform ensures that we can easily cater to client demand with innovative products like our new range of cryptocurrency indices and we will continue to ensure we are offering access to instruments which are most appealing for today’s trading community.”
CMC Markets has recently lowered the margins for professional clients across all their original cryptocurrencies as well as spreads for both retail and professional clients across all their original cryptocurrencies.