London Capital Group has expanded its trading platform to include CFD products in cryptocurrency.
The fixed rate investment provider will provide trading options on established blockchain currencies including Bitcoin and Ethereum.
“Cryptocurrencies have grown in prominence and popularity amongst traders in recent years,” said a spokesperson for LCG. “Underpinned by innovative blockchain technology, cryptocurrencies are not issued or controlled by central banks or government agencies.”
“Their decentralised nature forms part of the appeal for traders, as cryptocurrencies, theoretically, cannot be manipulated or interfered with by outside forces.”
Following significant increases in value for cryptocurrencies over previous years, the move by LCG to include tokens in its trading portfolio forms part of a development partnership with Global Advisors Holdings Limited to offer the extended service.
LCG customers will be able to trade cryptocurrencies as pairs against fiat currencies, including the US dollar, euro, Swiss franc, Great British pound and Japanese yen.
Though potentially offering substantial risk to investors, LDG added that the turbulent cryptocurrency market may well prove profitable for traders.
“Highly susceptible to news and announcements, cryptocurrencies are prone to market volatility, providing ample trading opportunities.”
The announcement follows six months after LCG began trading on the London Stock Exchange’s NEX Exchange Growth Market.