Equiti Group boosts crypto offering with 40 new CFDs
Equiti Group, which was recently licensed by the UAE regulator to trade OTC derivatives and currencies, has expanded its offering by launching 40 fully-paid cryptocurrency CFDs.
The move marks an advanced stage of Equiti’s decisive move into the surging digital assets arena. The new crypto instruments are part of a wider offering from the multi-regulated broker, with a further 40+ leverage coins set to be added later in the year as well as the flexibility to input trades as a notional value.
The newly listed instruments include CFDs on Bitcoin (BTCUSD), Bitcoin Cash (BCHUSD), Litecoin (LTCUSD), Dogecoin (DOGEUSD), Ethereum (ETHUSD), Solana (SOLUSD), Avalanche (AVAXUSD), and Polkadot (DOTUSD).
CFDs are often a more convenient way of trading cryptocurrencies, as it allows traders to speculate on price movements and hedge exposures without having to own or store the real underlying coins in a digital wallet.
As explained by the broker, trading so-called “fully paid cryptocurrencies” as CFDs is available via the MT5 platform. However, the offering is limited to Equiti’s retail clients onboarded through its brokerage arm in Seychelles.
Equiti expands into the GCC region
Equiti’s fully paid cryptocurrency CFD offering includes no overnight fees, low commissions, and tight spreads from $9 on BTCUSD.
Brian Myers, CEO of Equiti Brokerage (Seychelles) Limited, comments: “Our global teams have worked diligently to create one of the strongest crypto offerings possible. After numerous requests from our global retail clients for a crypto investment product, Equiti has made a wide range of coins available, coupled with industry leading spreads and our exceptional customer service.”
Equiti Group made headlines earlier this week after it has won the naming rights of Dubai’s Umm Al Sheif metro station. As part of the agreement with the emirate’s Road and Transport Authority, Umm Al Sheif metro station will be renamed as Equiti metro station for a period of 10 years.
This collaboration comes hot on the heels of Equiti becoming one of the first international brokerage firms to offer OTC margin trading in the UAE. Under the regulatory purview of the Securities and Commodities Authority, Equiti’s licence covers spot trades on equity, commodities, FX, and other financial instruments.