FXCM Group, a London-based online foreign exchange trading platform founded over 20 years ago, has announced the addition of cryptocurrency baskets that include Bitcoin, Ethereum, Ripple’s XRP, Litecoin, and Bitcoin Cash, to its retail customers.
The firm launched what it christened CryptoMajor, a digital currency basket that opens users to diverse digital currencies all into one tradeable product.
The newly launched avenue gives users the advantage to trade and gather numerous cryptocurrencies into a single basket, without them having to necessarily manage them.
CryptoMajor differentiates from others by attributing equal weighting to each cryptocurrency in the basket, an idea that reduces the risk of a user being opened to just a single token, which may at the end results into extreme loss. Through this idea, the innovation also solve transparency problems prominent to others.
Through CryptoMajor, traders do not need to keep an eye on the cryptocurrency market table.
The basket of products makes trading simple by offering protections against adverse market trends.
The platform is a great opportunity for customers wanting to trade cryptocurrency, Brendan Callan, CEO of FXCM commented.
“It is a great opportunity for our customers who are looking to move into Crypto trading but don’t want to risk too much overexposure.”
For now, cryptocurrency basket CryptoMajor is available via API, Ninjatrader, MetaTrader 4, and importantly on FXCM’s flagship platforms.
FXCM is a trusted broker with a very wide reach. The firm became one of the world’s largest retail forex in 2010 after the acquisition of ODL Group.
FXCM complies with regulations and licensed in South Africa, Australia, the UK, and some other European countries. With its presence in 5 continents, FXCM has the capacity to widen the adoption of cryptocurrency.