LONDON and SYDNEY, Australia and JOHANNESBURG, South Africa, Oct. 14, 2019 (GLOBE NEWSWIRE) — FXCM Group, LLC (“FXCM Group’ or ‘FXCM’), a leading international provider of online foreign exchange trading, CFD trading, cryptocurrencies and related services, today announced the introduction of cryptocurrency baskets to its retail customers.
Named CryptoMajor, the cryptocurrency basket will enable the grouping of numerous cryptocurrencies all into one tradeable product therefore allowing traders to collate multiple digital assets in one go, without the need to independently manage them. It is made up of the 5 cryptocurrencies currently traded on FXCM’s platform: Bitcoin, Ripple, Litecoin, Bitcoin Cash and Ether.
Differing from other baskets on the market, FXCM’s CryptoMajor addresses hedging transparency issues by giving an equal weighting for each coin in the basket, ensuring the product is not overly exposed to just one crypto.
Brendan Callan, CEO of FXCM comments “Trading a basket of cryptocurrencies means our users are freed from the hassle of constantly monitoring the markets. CryptoMajor therefore streamlines the trading process and protects our customers from unanticipated and adverse market movements. 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.”
The CryptoMajor basket is available on all of FXCM’s flagship platforms plus MetaTrader 4, NinjaTrader, and via API.
FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, and related services. Founded in 1999, the company’s mission is to provide global traders with access to the world’s largest and most liquid market by offering innovative trading tools, hiring excellent trading educators, meeting strict financial standards and striving for the best online trading experience in the market. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. In addition, FXCM offers educational courses on FX trading and provides trading tools, proprietary data and premium resources. FXCM Pro provides retail brokers, small hedge funds and emerging market banks access to wholesale execution and liquidity, while providing high and medium frequency funds access to prime brokerage services via FXCM Prime. FXCM is a Leucadia Company.
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. The products are intended for retail, professional and eligible counterparty clients. Retail clients who maintain account(s) with Forex Capital Markets Limited (“FXCM LTD”), could sustain a total loss of deposited funds but are not subject to subsequent payment obligations beyond the deposited funds but professional clients and eligible counterparty clients could sustain losses in excess of deposits. Prior to trading any products offered by Forex Capital Markets Limited, inclusive of all EU branches, FXCM Australia Pty. Limited, FXCM South Africa (PTY) Ltd, any affiliates of aforementioned firms, or other firms within the FXCM group of companies [collectively the “FXCM Group”], carefully consider your financial situation and experience level. If you decide to trade products offered by FXCM Australia Pty. Limited (“FXCM AU”) (AFSL 309763), you must read and understand the Financial Services Guide, Product Disclosure Statement, and Terms of Business. Our FX and CFD prices are set by us, are not made on an Exchange and are not governed under the Financial Advisory and Intermediary Services Act. The FXCM Group may provide general commentary, which is not intended as investment advice and must not be construed as such. Seek advice from a separate financial advisor. The FXCM Group assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of information, text, graphics, links or other items contained within these materials. Read and understand the Terms and Conditions on the FXCM Group’s websites prior to taking further action.
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