FXOpen launches HUF and CZK pairs amid demand for EMFX
“Despite economic challenges and geopolitical uncertainties across the Western world, the forint has seen a significant increase in strength since October last year. This notable upward trend has been evident, reflecting a substantial strengthening from its previous value.”
FXOpen has announced the addition of the Hungarian forint (HUF) and Czech koruna (CZK) to its diverse range of currency pairs, paired with the US dollar (USD) and euro (EUR), as part of its plans to expand the online FX and CFD broker’s asset pool.
Access to Hungarian forint (HUF) and Czech koruna (CZK) pairs will provide enhanced opportunities for traders seeking exposure to these emerging markets.
“The Hungarian forint has experienced a remarkable appreciation in value”
FXOpen has decided to broaden the selection of currency pairs to address the growing demand among traders in order to prioritize customer satisfaction and ensure a comprehensive trading experience for all.
The USD/HUF, EUR/HUF, and USD/CZK pairs will now be available for trading across FXOpen’s suite of trading platforms, including MetaTrader 4, MetaTrader 5, and TickTrader.
Gary Thomson, Chief Operating Officer of FXOpen UK, commented: “While the euro and US dollar have remained relatively stable, the Hungarian forint has experienced a remarkable appreciation in value. Despite economic challenges and geopolitical uncertainties across the Western world, the forint has seen a significant increase in strength since October last year. This notable upward trend has been evident, reflecting a substantial strengthening from its previous value.”
FXOpen strengthens offering to reinforce broker’s position among experienced traders
FXOpen has recently introduced commission-free trading on index CFDs and has reduced the minimum trade size for index CFDs to 0.01 lot from 0.1 lot. This reduction means less margin is required to place a trade and enables clients to trade index CFDs in a smaller size, thereby expanding accessibility and flexibility.
Commission-free trading is available for over 600 markets, including FX, index CFDs, shares CFDs, commodities CFDs, and cryptocurrency CFDs, as well as any index trades placed on an FXOpen ECN account.
Here are some of global index CFDs that tend to prove the most popular for FXOpen clients:
- Wall Street 30: Tracks the performance of 30 of the biggest publicly traded firms in the United States.
- Germany 40: Made up of the 40 largest companies on the Frankfurt Stock Exchange.
- UK 100: The UK’s largest 100 firms, by market capital, as listed on the London Stock Exchange.
- US Tech 100: Measures the performance of the 100 biggest non-financial companies in the United States, with a heavy focus on the technology sector.
- Japan 225: A price-weighted index covering 225 of Japan’s largest companies.
In mid-2022, FXOpen enhanced trading conditions, namely in regard to ECN liquidity in order to provide the tightest spreads possible for their traders. The move has resulted in much tighter average spreads offered by the broker, namely in FX pairs as exemplified below:
EURUSD average spread 0.2 (data taken on 6th June vs average spread data taken on 21st June);
AUDUSD average spread 0.3 (data taken on 21st June);
USDJPY average spread 0.4 (data taken on 21st June);
USDCAD average spread 0.5 (data taken on 21st June)
The CFD broker also launched a partnership with TradingView, giving their traders access to the increasingly popular charting and social network trading platform.
By expanding the asset pool and introducing new features, FXOpen reinforces its position as a trusted broker for experienced traders seeking opportunities in the global financial markets.
The company has a strong worldwide presence, operating through a network of offices in London, Cyprus, and Australia, regulated by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC).
