CEX.IO Broker, the CySEC-licensed arm of the namesake crypto exchange, has expanded its services by adding contracts for difference (CFDs) of stocks and metals to its line of offerings, Finance Magnates learned exclusively.
The platform, which operated from cexbro.com and gained a CIF license last October, is already offering margin trading with cryptocurrency and forex pairs. The newly added instruments include the stocks CFDs of five companies, Tesla, Netflix, Google, Amazon, and Apple, and two precious metals, gold and silver.
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While other broker-dealers are adding crypto instruments to their existing line of traditional instruments, CEX.IO Broker is going the other way around.
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CEX.IO Group founder and CEO, Oleksandr Lutskevych, believes that the recent investment into Bitcoin by the many major companies will increase the demand for their shares.
“If big public companies choose to hold cryptocurrencies on their balance sheets, then it would make sense for cryptocurrency holders to also be able to access the stocks of major companies and participate in the traditional financial market,” Lutskevych said.
The brokerage will offer leverage between 2:1 and 20:1 on stocks and metal CFDs and will additionally allow margin trading funding with Bitcoin, Ethereum, and Tether. The platform has further plans to add more company share CFDs, indices, and other instruments as well.
“By adding new markets to the platform, we are erasing the boundaries between the crypto industry and traditional finance, offering traders a convenient way to diversify their portfolios within a single platform. This lets users on CEX.IO Broker trade on the price fluctuations of popular traditional instruments without leaving the world of cryptocurrencies,” Lutskevych added.