London, Sydney, Johannesburg – FXCM Group, LLC (“FXCM Group’ or ‘FXCM’), the leading international provider of online foreign exchange trading, CFD trading, cryptocurrencies and related services, is today announcing a wider launch of its Stock Basket offering to customers. Effective immediately, basket products are 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 6 baskets to its retail clients: Big US Tech (“FAANG”), Esports & Gaming (“ESPORTS”), Biotech, Cannabis, China Tech (“CHN.TECH”) and China Ecommerce (“CHN.ECOMM”). The list of companies and weightings is available on FXCM’s stock basket website.
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 commented: “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. Trading stocks can often be quite a daunting experience when first entering the market, however 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.”
For more info please visit FXCM website.