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FXCM Expands Crypto Offering

FXCM Group, which provides of online FX and CFD trading, as well as crypto trading for retail and institutional investors, announced updates to its crypto offering, including record low crypto spreads for the platform during January.

January 2020 was a record month for FXCM’s crypto division, announced the lowest spread ever across its current crypto offering, Bitcoin, Ethereum, Ripple (XRP), Litecoin and Bitcoin Cash. (See table below)

  December 2019 Average Spreads* January 2020 Average Spreads* Average Spread rates difference: January 2020 vs December 2019
BTC/USD 40.76 27.54 (32.43%)
ETH/USD 1.86 0.96 (48.39%)
XRP/USD 0.0060 0.0019 (68.33%)
LTC/USD 0.55 0.2 (63.63%)
BCH/USD 4.15 3.33 (19.76%)

FXCM has additionally announced an extension to its trading hours across all crypto instruments. From March 1, FXCM’s trading hours will be extended for all crypto instruments. Trading will open Sundays at 23:00 GMT and close on Fridays at 20:45 GMT, with traders no longer experiencing a daily market break.

Further, FXCM is launching two cryptocurrency CFDs on the platform – EOS and Stellar (XLM). With these additions, FXCM now offers CFD trading options for the majority of the world’s most popularly traded cryptocurrencies, the firm says.

Michael Kamerman, managing director at FXCM, comments: “Since we launched our cryptocurrency offering with our Bitcoin CFD product, cryptos have risen to become one of our most popularly traded asset classes.”

“In January, we experienced record volumes in cryptocurrency CFDs. With low spreads and a diverse mix of instruments, it’s clear that customers are responding positively to our crypto offering.”

Julie Ros

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