XTB has announced its introduction of a new expansive Cryptocurrency CFD portfolio, offering clients access to 25 new markets in total including 9 individual crypto coins against the US dollar and 16 Crypto crosses or pairs in one of the widest ranges of crypto offers on the CFD market.
Aside from its original offering of popular cryptocurrencies like Bitcoin, Ripple, Ethereum, Litecoin and Dash, XTB’s offer will now include additional CFDs on digital coins such as Monero, Cardano, Zcash, NEM and more. The total number of instruments is 25, and each of them consists of quotations against either the dollar, Ethereum and Bitcoin - for example, you can open a contract on Cardano against Bitcoin (ADABTC), Tron/Ethereum (TRXETH), or Miota/Bitcoin (IOTABTC).
It’s also worth noting that the contract expiry for these new markets has been upgraded to 365 days; while previously you could only hold short-term positions on Crypto markets, you can now hold positions for up to a year which allows a more flexible style of trading for longer-term traders.
Thanks to CFDs, traders have the opportunity to potentially profit or incur losses from both rising and falling Crypto values, or hedge against their physical Crypto portfolio. You can trade the new markets on an advanced trading platform that gives access to a wide range of analytical tools and charts. The xStation 5 platform is available on the desktop and mobile application.
It should also be noted that the Crypto CFDs come with a leverage of 2:1, which allows for a double exposure on the market in relation to account balance. This could magnify your profits; for example, a change by 1% on the market means a change of 2% in the value of your trade. However losses can also be magnified in the same way so ensure you’re taking necessary steps on risk management.
Joshua Raymond, Director of XTB UK, said: ‘The release of our expanded Cryptocurrency CFD offering epitomises our commitment to cementing ourselves as an innovative broker at the forefront of our industry. No other broker offers the same level of depth, competitive pricing and range of Cryptocurrency pairs as we do. The last year has Cryptocurrency investors become much more experienced and knowledgeable of the short term price volatility that cryptos can attract. They are quickly realising that trading Cryptocurrencies over the short term can be just as fruitful and less risky, especially when you can go both long and short Crypto Pairs such as ETH/BTC or NEO/BTC. So if you have a view that one Crypto is better than another, you can now put that view into practice with our Crypto Crosses.’
In XTB all markets are available from one brokerage account, so there’s no need for a crypto wallet or registration on the stock exchange. XTB also offers segregated accounts and protection of funds. As a FinTech has been operating since 2005, XTB is one of the largest international brokers listed on the stock exchange. It employs over 400 people in Poland and around the world, creating its own investment platform with branches in several countries, such as Great Britain, Poland, Germany, France and is supervised by respected regulators, including KNF, and FCA.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.