The largest brokerage firm will begin to trade cryptocurrency
October 15, 2019
FXCM Group has launched a basket of five cryptocurrencies: Bitcoin, XRP, Litecoin, Bitcoin Cash, and Ethereum. Now, retail investors will be able to make money on digital assets, while they do not have to constantly monitor markets and worry about volatility
Currency trading platform FXCM Group has launched a basket of five cryptocurrencies intended for retail investors. The product includes BTC, XRP, LTC, BCH, and ETH. CEO Brendan Callan said that this decision would allow new players to enter the market and simplify crypto investments for retail users.
“Trading a cryptocurrency basket will help free our users from constant market monitoring, facilitate the trading process and protect customers from unforeseen and adverse movements of digital coins,” Callan said.
Previously, the FXCM forex broker had another owner - Global Brokerage, in which the company lost its license from the Commodity Futures Trading Commission and received a fine of $7 million for trading against its own clients in 2017. After that, the London company was forced to leave the American market, but now its headquarters are based in New York.