The crypto-based contract-for-difference (CFD) services are live now, the Japan-based online securities company Monex launched it on July 08.
While introducing its new derivative products, the Japanese online securities company has mentioned that it would offer the pair of Bitcoin, XRP, Ether, and Bitcoin Cash to its customers with 2x leverage.
CFD Considered To Be Best Investment Vehicle
After the Monex announced the launch of its CFD services, many of the digital currency exchanges in Japan started getting involved with the leverage products.
CFD is a net difference that has been generated from trading specific assets, now that difference could either be loss or profit.
In derivative space and in the crypto markets, the CFDs are considered to be one of the best investment vehicles.
On July 08, as soon as the market was opened, Monex started offering 2x leverage for ETH, BTC, BCH and XRP paired with yen.
Recently, the Monex Group has also obtained a bitcoin wallet and exchange, popularly known as Coincheck.
Till date, the exchange has a consistent volume in the market.
Monex Group To Register As Financial Instrument Business
Now, the Monex Group would have to register itself as a Financial Instrument Business with Japnese regulator, for providing crypto-based derivatives to its customers.
While releasing a public statement, Monex stated, “Crypto-asset-related OTC derivatives transactions were included under the Act to protect customers and create risk management regulations for financial instruments business operators”.
It further mentioned that after the Bitcoin was introduced, the crypto-asset market started growing rapidly. And since then the number of cryptocurrencies and crypto-asset derivatives transactions are also growing./span>
Now, as the Monex is expanding its transaction categories, therefore, it decided to start providing crypto-asset CFD services to its customers.
Monex has announced that its crypto-based CFDs are available 24*7 to its customer for trading.
To start the trading of crypto-based CFDs, the trader needs to download the Monex Trader Crypto app and then register for a Monex general brokerage account.
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