UK-based multi-regulated FX brokerage firm AT Capital Markets (ATFX) has launched contracts for differences (CFDs) on four major cryptocurrencies including Bitcoin and Ethereum, according to reports.
The new financial instrument will allow users to take both long and short positions on BTC, ETH, LTC, and XRP CFDs.
All contracts will be traded against the US dollar and will be available to trade 24 hours a day, five days a week.
The move by the brokerage platform comes one day after the London Stock Exchange Group invested in the world’s first cryptocurrency bond, which reinforces the notion that institutions are becoming more open to the digital asset class.
“The advantages of trading cryptocurrency CFDs don’t end there,” Marcos Tigsilema, Commercial Director of ATFX (UK) explained.
“It is a cost effective way to trade both rising and falling cryptocurrency markets. Funds can be deposited and withdrawn with ease, avoiding the risks of purchasing cryptocurrencies directly through an exchange and not having to worry about your cryptocurrency being lost, stolen, or hacked.”
ATFX has become the latest in a long list of brokerage firms to offer cryptocurrency CFDs, with the likes of Plus500, eToro, and ICM Capital all offering digital asset products.
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