Bitcoiners Demand More Crypto CFDs and Spread-Betting in the UK

The UK’s CMC Markets Plc announced it would offer cryptocurrency contracts for difference (CFDs) and spread-betting, accessible at first to professional traders. Though too soon to call a trend, the company is following its rivals into an unsure market increasingly under threat from regulators.     

More Crypto CFDs Added Due to Demand

Grant Foley

“With the cryptocurrency market growing rapidly over the past ‎‎12 months,” CMC’s Grant Foley explained, “we have received significant interest from our clients for bitcoin ‎and ethereum CFDs. As a result, we have developed a new offering for this ‎unique digital asset class. We recognise that cryptocurrencies can be ‎regarded as a volatile market, so we are initially only offering trading, on an ‎exclusive basis, to our experienced professional client base.”

Based in London, CMC Markets Plc is owned by Goldman Sachs. ‎It’s a worldwide market maker, and trades in contracts for difference, foreign exchange, and spread-betting. Spread-betting is a very British financial speculation similar to derivatives, and can be offered in parallel to CFDs. Its advantages include flexibility in trading hours, potential for innovation, and it usually has stop losses baked-in. Spread-betting is a contract between the market-maker and the client, not cleared by an exchange, and can avoid many regulations in doing so…

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