FXCM Group Unveils Fresh Cryptocurrency Trading Product | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
FXCM Group, a leading forex trading and contract for differences (CFD) broker with presence in London, Australia, and Johannesburg, has announced the launch of its crypto trading product dubbed CryptoMajor. The firm says CryptoMajor will give retail customers exposure to a basket of five cryptos supported on the platform, including bitcoin (BTC), XRP, litecoin (LTC), ether (ETH) and bitcoin cash (BCH), according to a press release on October 14, 2019.
FXCM Launches CryptoMajor
In a bid to make life easier for its retail investors FXCM, a leading financial institution established in 1999 to provide users with foreign exchange trading services, CFD trading and more, has introduced a new product called CryptoMajor.
As stated in its press release, the new product named CryptoMajor is a basket made up of the five cryptoassets supported on the platform.
The firm says CryptoMajor allows for the grouping of the entire supported cryptos on its platform into one tradeable product, making it possible for traders to collate multiple digital assets in one go and manage them more easily.
Addressing Transparency Issues
While a good number of firms have launched a basket of cryptocurrency in recent times, FXCM claims its new offering is designed to stand out from the crowd by addressing critical hedging transparency issues.
To achieve this, all crypto assets in the CryptoMajor basket are weighted equally, creating a balance in the basket.
Commenting on the launch of the new product, Brendan Callan,