Admiral Markets Expands Cryptocurrency Offering With New Coins

The introduction of new instruments adds to its rapidly expanding suite of cryptos, following strong demand from clients over the past few months.

The company currently offers traders the ability to trade Monero vs US Dollar CFD (XMRUSD) with leverage of up to 5:1. It also said the coins would be paired with Bitcoin.

Admiral Markets has been quickly shoring up their offerings with more altcoins in 2018. While 2017 marked the launch of Bitcoin CFDs and a gradual embrace of crypto products, the latest expansions have been fueled by consistent demand for more diverse options.

Last year saw Admiral Markets roll out multiple crypto-related offerings, including Bitcoin Cash and short selling on crypto CFDs in August. The group also offered tiered leverage on several crypto products last year as well, given strong demand and client feedback.

Furthermore, Admiral Markets reinstated trading on its cryptocurrency CFDs on its Metatrader 5 (MT5) trading platform.

Cryptocurrency CFDs traders at Admiral Markets should note that contracts expire each week on Friday, and are rolled over to the weekend. This was instituted to prevent potential gaps that can be incurred by clients to reflect price changes while Admiral Markets trading is closed outside of trading hours. The changes applied by Admiral Markets helped some of the underlying issues that have made it challenging for CFD brokerages to provide access to cryptocurrency trading.

According to the company’s statement, the new offering will be available directly through the Priority Access mode for professional clients only and will be open for retail clients in a couple of weeks.

Finance Magnates last reported on Admiral Markets last month after its Estonian-based arm applied for a credit institution licence through the Estonian Financial Supervision Authority