As the popularity of cryptocurrencies grows, trading platforms and exchanges are looking beyond the top two, Bitcoin and Ethereum, and are widening their listings. Despite current market woes cryptocurrencies are gaining greater traction among traditional trading companies and Abu Dhabi’s ADS Securities is the latest to adopt them.
LTC, XRP, and BCH Available to Trade
According to reports the Middle East international securities trading firm ADS Securities has announced that traders using its OREX platform can now trade Litecoin, Ripple and Bitcoin Cash in addition to the main two already listed. The company soft-launched the new cryptocurrencies in mid-March in order to gauge response from its clients, and positive feedback resulted in permanent listings for the three altcoins.
Additionally the firm has reduced the spreads on Bitcoin and Ethereum trading to reduce costs for its customers. Using CFD (contract for difference) trading allows traders to speculate on the rising or falling of prices in fast moving markets such as cryptocurrencies. Traders do not have to setup crypto wallets or deal with exchanges which makes their lives a little easier.
Head of Retail Sales at ADS Securities, Jason Hughes, told media;
“We are delighted to be expanding the offering on our OREX platform to include these key cryptocurrencies. OREX enables users to access the crypto markets with ease, and the flexibility of CFDs allow our clients to take long or short positions, helping their management of exposures and positioning during the current volatility in these markets. Cryptocurrencies have been making waves for some time, however now that understanding of the market is growing, we believe it is the right time to introduce more coins on to our OREX Platform.”
ADS Securities was established in 2011 and is part of the ADS Holding group, in a short period of time it has established itself as a leading forex, bullion and online trading firm in the region. It also provides foreign investment markets analysis on CNBC, Bloomberg, and CNBC Arabiya. Being regulated by the Central Bank of UAE makes it a very well capitalized company and its acceptance of cryptocurrencies is a positive sign for overall adoption.
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