FXCM Group, an international provider of online foreign exchange trading, CFD trading, cryptocurrencies and related services, has made its stock basket offering tradeable by customers on its Australian and South African entities.
FXCM Group, an international provider of online foreign exchange trading, CFD trading, cryptocurrencies and related services, has made its stock basket offering tradeable by customers on its Australian and South African entities. FXCM’s stock basket products combine the shares of multiple companies from one sector into a single tradeable instrument. This allows customers to speculate on sectors as a whole instead of having to select a single company.
FXCM currently offers six baskets: Big US Tech (FAANG), Esports & Gaming (ESPORTS), Biotech, Cannabis, China Tech (CHN.TECH) and China E-commerce (CHN.ECOMM).
This announcement follows closely behind FXCM’s initial launch of its Share CFD offering, with the broker expected to launch trading on more individual companies and stock baskets later this year.
Brendan Callan CEO of FXCM says: “The stock baskets are another step in our continued journey into stock CFD trading. These baskets provide customers an easy one-stop opportunity to speculate over sectors and subsequently trade stocks related to that particular industry. Baskets can provide an excellent opportunity for traders to spread their investment across a number of different companies, hedging their risk and benefiting from potential trading opportunities.”
