Scope Markets adds 100 ETF and single stock CFD products
“As a business, we’re always eager to respond to evolving customer needs, which underlines our ‘can-do’ approach as a business. Partners will frequently ask us to help them find a solution to access exotic markets or asset classes, which drives these product additions, that we, in turn, are happy to make available to our global customer base.”
Scope Markets has introduced over 100 new Contract for Differences (CFDs) across eight global asset classes, the financial brokerage firm announced.
The latest additions include almost 50 U.S. equity American Depositary Receipts (ADRs) and 40 Exchange-Traded Funds (ETFs) from Japan and Hong Kong, thereby providing more diverse trading opportunities.
Trading CFD products solves issues with order size, geography, transaction fees
Pavel Spirin, CEO of Scope Markets, shed light on the company’s customer-centric approach, stating, “As a business, we’re always eager to respond to evolving customer needs, which underlines our ‘can-do’ approach as a business. Partners will frequently ask us to help them find a solution to access exotic markets or asset classes, which drives these product additions, that we, in turn, are happy to make available to our global customer base.”
By adopting the flexible CFD model, Scope Markets enables its customers to gain exposure to asset classes that might not be directly accessible due to various limitations such as minimum order size, geographic location, or prohibitive transaction fees. The recent inclusion of 50 U.S. equity ADRs and 20 Japanese ETFs wrapped in CFDs significantly broadens the scope for investors.
A Glimpse into ADRs
ADRs serve as negotiable certificates that represent ownership in shares of a non-U.S. company deposited with a U.S. bank. They trade in U.S. dollars and enable trading to continue even when the home market is closed. The concept was first introduced in 1927 by J.P. Morgan to allow U.S. investors to invest in shares of British department store Selfridges.
The new ETFs traded on the Hong Kong exchange offer thematic exposure to various Chinese industries including electric vehicles, cloud computing, and biotechnology. This further diversifies the trading options available to Scope Markets’ global customer base.
Scope Markets is a diversified financial services group that offers online trading facilities and institutional brokerage solutions on a global scale. The firm is regulated in six jurisdictions and offers multiple asset classes and instrument types across both mobile and desktop platforms.
The recent expansion by Scope Markets stands as a testament to the firm’s commitment to adapt and innovate in line with customer needs. In a financial landscape that’s continually evolving, the addition of these diverse trading options could serve as a significant competitive advantage for Scope Markets.
The move follows the Belize-based FX and CFDs brokerage firm’s expansion of its tradable universe by adding over 500 single stock CFDs last month. These stock CFDs cover markets in Canada, Hong Kong, and Austria, which marks yet another stage of its decisive move into the surging arena.
This expansion brings the total number of global equity markets accessible to Scope Markets’ clients to 11, and the number of individual stock CFDs available to more than 40,000. The company said it will continue to add new instruments across multiple asset classes to reflect the evolving demands of clients.
The multi-asset platform broadens its product line as clients’ desire to garner exposure to stock markets has been increasing. The inclusion of single stock CFDs not only helps expand trading capabilities for its existing clientele but also attracts more traders that are looking to diversify their trading options.
