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Forex Time to Boost its Lineup of Currency Pairs, CFDs

Forex Time (FXTM), the Cyprus-based newborn broker, announced yesterday that it will be adding new currency pairs and CFDs to its trading instruments range from next Monday – May 13th. The announcement comes less than a month after the broker, set up by Andrey Dashin, Alpari's founder and main shareholder, introduced a raft of additions to its trading instruments list. As you can see, the baby-broker is growing pretty fast, may be we can call it a kid-broker now...

 
The fresh additions include 10 exotic currency pairs:
 
CHFNOK (Swiss Franc vs Norwegian Krone)
CHFPLN (Swiss Franc vs Polish Zloty)
EURHKD(Euro vs Hong Kong Dollar)
EURPLN (Euro vs Polish Zloty)
GBPDKK (Pound Sterling vs Danish Krone)
GBPNOK (Pound Sterling vs Norwegian Krone)
GBPPLN (Pound Sterling vs Polish Zloty)
GBPSEK (Pound Sterling vs Swedish Krona)
GBPSGD (Pound Sterling vs Singapore Dollar)
GBPHUF (Pound Sterling vs Hungarian Forint).
 
Traders with Standard MT4 and Standard Zulutrade accounts will be able to benefit from these instruments from next Monday. Be careful when trading exotic currencies – they involve wide spreads, and I've always thought that they form a trading field for patriots or trading freaks. Hence, there should be a good reason for the addition of exotic currency pairs: I could not think of another reason than demand from traders. 
 
And this is not the end of innovation at the brokerage, as owners of Standard MT4 accounts could opt to trade with six extra CFDs:
 
#SDS (UltraShort S&P500 ProShares)
#SMH (HLDRS Semiconductor)
#SPY (CFD Standard & Poor's Depositary Receipts)
#SSO (Ultra S&P500 ProShares)
#TLT(iShares Barclays 20+year Treasury Bond)
#XLI (SPDR Industrial).
 
As you know, CFDs are leveraged derivatives that allow traders to make use of the price movements on various underlying financial instruments such as bonds, indices and stоcks. By introducing more CFDs, the broker is paving the way for traders to diversify their portfolios and to be able to profit from price movements regardless of their direction: upward or downward. 
 
No wonder then that CFDs have been so popular and that other brokers have also sought to beef up their CFD lineups lately: Oanda Europe added four more CFDs to its offering in April, and Canadian broker Questrade also added CFD trading to its instruments list last month. 
 
By the looks of it, FXTM's operations are gaining pace and scope: we'll be monitoring the developments around this interesting brokerage and inform you in due course.
 

About ForexTime

 
Led by Mr Andrey Dashin, founder of Alpari, ForexTime Ltd is committed to providing the tools and support to ensure maximum performance for traders. ForexTime Ltd will offer trading and other investment services in Forex, commodities, precious metals, shares, indices and other financial instruments. 
 
ForexTime Ltd has been granted a license as a Cyprus Investment Firm (CIF) by the Cyprus Securities and Exchange Commission (CySEC), license number 185/12.
TAGS: fxtm  forex time  cyprus  alpari  andrey dashin  cfd  contract for difference  currency pairs  exotic currency pairs  spreads  forex trading  forex brokers 

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