FXCM Crypto Spreads Down More Than 32% In January 2020
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FXCM Crypto Spreads Down More Than 32% In January 2020

February 20, 2020      Javeria

Forex Capital Markets (FXCM), has announced significant updates to its cryptocurrency offering platform in January 2020 including record low crypto spreads. The major update showcases FXCM’s devotion to providing a broad spectrum of products from traditional FX to crypto for retail as well as institutional clients.

Last month FXCM group announced the lowest spread of all time across its crypto offering for Bitcoin, Ripple, Ethereum, Bitcoin Cash and Litecoin. The average spread of crypto offering for December 2019 and January 2020 months are shown below in the list.

  December 2019 Average

Spreads*

January 2020 Average

Spreads*

Average Spread

rates difference:

January 2020 vs

December 2019

BTC/USD 40.76 27.54 (32.43%)
ETH/USD 1.86 0.96 (48.39%)
XRP/USD 0.0060 0.0019 (68.33%)
LTC/USD 0.55 0.2 (63.63%)
BCH/USD 4.15 3.33 (19.76%)

FXCM Reports The Launch Of Two New Crypto CFD

Lately, FXCM also announced an extension in its trading hours for all the crypto assets. According to the reports, FXCM’s trading hours would be extended from 1st March 2020, i.e. the trading will open on Sunday at 23:00 GMT till Friday 20:45 GMT with no market break in between.

Along with these two updates, comes the launch of two new crypto CFDs including Steller and EOS on FXCM’s platform. The group is now offering CFD trading options for all the significant cryptocurrencies across the world.

The Managing Director at FXCM Group, Michael Kamerman, stated that since the group launched its crypto offering with its Bitcoin CFD product, cryptos became their most traded asset classes.

He further said that it is clear that customers are responding positively to FXCM’s crypto offering in accordance with the January’s Crypto CFD record volumes that displays low spread with a broad mixture of assets.

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Javeria
Javeria

Javeria is into the crypto world ever since she heard about it and is pursuing her interest through cryptoknowmics. She is a sensational poet, technical writer and content strategist. Not to mention that she can go crazy when it comes to vampires and Wonder woman.