Forex and Contracts For Difference (CFD) brokerages are introducing Bitcoin Cash CFD trading pairs to their platforms. This month, Avatrade and Admiral Markets have launched BCH/USD pairing, demonstrating increasing Bitcoin Cash adoption on the part of traditional financial markets.
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Avatrade and Admiral Markets Have Introduced Bitcoin Cash CFD Trading This Month
Bitcoin cash CFD trading has begun to proliferate this month. Popular brokerages Avatrade and Admiral Markets have both launched BCH/USD trading pairs this month, signaling growing Bitcoin Cash adoption on the part of conventional finance brokers.
Avatrade introduced bitcoin cash CFD this past week. The company now offers CFD trading in 7 cryptocurrencies, including Bitcoin, Ethereum, Ethereum Classic, Ripple. Litecoin, and Dash. Chief Executive Officer of Avatrade, Daire Ferguson, has described 2017 as “the year of crypto trading’, stating that his company is “very proud to be leading the industry and offering our clients the best trading environment. Avatrade was founded in 2006 and offers fully regulated trading to Japan, Australia, the EU, South African, and the British Virgin Islands.
Earlier this month, London-based trading provider, Admiral Markets UK LTD., claimed to become the world’s first brokerage firm to introduce trading pairs for bitcoin cash. Admiral Market offer BCH/USD pairs for both demo and live trading.
Jens Chrzanowski, Member of the Management Board Admiral Markets, has described the company’s decision to launch Bitcoin Cash CFD trading with enthusiasm. “As far as I know, we’re the first to offer the new Bitcoin Cash cryptocurrency for trading. It’s brand new, but has managed to instantly become the world’s third most valued cryptocurrency by market capitalisation. We advise you to try out trading new instruments like this with our demo account.”
Bitcoin cash continues to comprise the third largest total market capitalization in cryptocurrency, and has enjoyed significant trading volume on numerous major crypto exchanges following its conception on August 1st. Bitcoin Cash rallied to test the $900 USD price area this past week, driven by a sudden surge in South Korean trading volume. The price has since lost approximately 25-30 percent and is currently consolidating around $600 USD.
Do you think that bitcoin cash CFD trading pairs enjoy the same success as bitcoin in the forex and CFD markets? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, AvaTrade, and Admiral Markets
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