Cryptocurrency CFDs are now a must-have feature for all online retail brokers in order to retain clients judging by the scope of the industry that is adding the instrument. The international brokerage ADS securities is now offering five different cryptocurrencies to its traders.
According to reports the Middle East international securities trading firm ADS Securities has announced that traders using its OREX platform can now trade Litecoin, Bitcoin Cash and Ripple CFDs in addition to the main two already listed. The company soft-launched the new cryptocurrencies in mid-March in order to gauge response from its clients, and positive feedback resulted in permanent listings for the three digital currencies.
Traders using ADS Securities’ proprietary OREX platform are now able to trade five cryptocurrency CFDs including bitcoin (BTC) and ethereum (ETH) which were launched in 2017. To help push the new offerings, the company also reduced the spreads on these two instruments.
Head of Retail Sales at ADS Securities, Jason Hughes, told media;
“We are delighted to be expanding the offering on our OREX platform to include these key cryptocurrencies. OREX enables users to access the crypto markets with ease, and the flexibility of CFDs allow our clients to take long or short positions, helping their management of exposures and positioning during the current volatility in these markets. Cryptocurrencies have been making waves for some time, however now that understanding of the market is growing, we believe it is the right time to introduce more coins on to our OREX Platform.”
ADS Securities was established in 2011 and is part of the ADS Holding group, in a short period of time it has established itself as a leading forex, bullion and online trading firm in the region. It also provides foreign investment markets analysis on CNBC, Bloomberg, and CNBC Arabiya. Being regulated by the Central Bank of UAE makes it a very well capitalized company and its acceptance of cryptocurrencies is a positive sign for overall adoption.