The brokerage platform, Easy Markets, will now offer its clients the opportunity to participate in derivative trading by listing Ethereum and Ripple CFDs.
The popular trading platform, Easy Markets, has recently announced that they will allow customers to participate in derivative trading by adding Ripple and Ethereum contract for difference (CFD) trading. This new trading option is already available for all Easy Markets users.
Due to cryptocurrencies’ meteoric rise during 2017, most customers have been demanding that major FX and CFD platforms add support for cryptocurrency trading. Many major traditional exchanges such as CME Group and Cboe, quickly answered the growing demand when they introduced bitcoin futures contracts on their respective trading platforms during December 2017. This is no different for Easy Markets, as the platform launched this option to address the growing demands of its customer base.
Both Ripple (XRP) and Ethereum (ETH) caught the public’s attention last year when significant gains towards the end of the year cemented their respective positions as leaders of the cryptocurrency industry. While most cryptocurrencies experienced growth in one way or another, both Ripple and Ethereum demonstrate certain strengths and characteristics that set it apart from other cryptocurrencies, both in reputation and technology. Ripple, in particular, made headlines after they developed a credit card consortium to be used in Japan which catapulted its value even higher as they provided utility for their currency. This in addition to Ripple’s various partnerships has caused a significant increase in market demand for the cryptocurrency.
On the other hand, Ethereum is perhaps best known for being a trustworthy alternative to bitcoin. Ethereum and Bitcoin are arguably two of the most reputable cryptocurrencies in the world with both holding a position as being two of the world’s top five most lucrative cryptocurrencies in terms of market capitalization. Easy Markets stated during an official statement that they would lower its Bitcoin CFDs spreads.
Easy Markets launched their Bitcoin CFDs in October 2017 shortly before the cryptocurrency reached record-breaking highs. Despite the recent crypto market slump, crypto CFDs remain popular with investors since it allows them to short their assets.
The crypto industry is still a relatively novel sector which traders and institutional investors have only recently entered. While many trading platforms were quick to start offering crypto CFDs, many quickly brought this to a standstill due to concerns about inefficient risk management policies.
However, time brings experience and wisdom with it. Many companies used the last few months as a learning curve in order to create the appropriate structural frameworks to support and manage every aspect of crypto trading.
Cryptocurrencies still seem to be in demand despite its recent setbacks and market value decline. So far major exchange who offer cryptocurrency trading has reported growth in both new traders as well as general trading volume.