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CFD broker HYCM has launched trading on two additional cryptocurrencies, Ripple and Bitcoin Cash, adding XRP/USD and BCH/USD to its range of cryptocurrency offerings.

The online broker said that decision to add Ripple and Bitcoin Cash to its existing crypto offerings, Bitcoin, Litecoin and Ethereum, follows the continued increase in demand from investors in the wake of the recent cryptocurrency boom. HYCM now offers 24/5 leveraged trading on the most volatile virtual currencies coupled with low spreads and competitive margins.

HYCM was one of the first brokers to launch cryptocurrency CFD trading. The latest additions to its offerings reinforce the company’s position as one of the industry’s leading brokers.

Stavros Lambouris, HYCM CEO, said: “There is no doubt that cryptocurrencies play a key role in forex trading as well as in the industry as a whole. We are expanding our offerings to help our clients diversify in cryptocurrencies in the same way as they do in traditional instruments. By adding Ripple and Bitcoin Cash to our platform, HYCM is making it easier and more accessible for investors seeking opportunities to capitalise on the performance of even more of the most in-demand cryptocurrencies”.

Cryptocurrency trading

Ripple (XRP) is both a transaction network and crypto token which was created in 2012 as the go-to cryptocurrency for banks and global money transfers, and has recently experienced a period of growth.
Bitcoin Cash (BCH) meanwhile, is a blockchain derived from the Bitcoin blockchain which followed the split of Bitcoin in August 2017. Bitcoin Cash has also recently experienced gains as investors seek to diversify their portfolios through altcoins.

As Bitcoin and its other ‘crypto-counterparts’ continue to exhibit the potential to deliver substantial opportunities, more and more investors have been attracted by them as a means to earning potential financial rewards.

HYCM is part of the Henyep Capital Markets Group, an international conglomerate with businesses in financial services, property, education and charity and is multi-regulated by the Financial Conduct Authority of the UK (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Dubai Financial Service Authority (DFSA).

For more on trading cryptocurrencies, be sure to download The Armchair Trader’s free guide on the subject. You can view that and many other free online trading guides here.

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Vanya Dragomanovich

Vanya is an award-winning financial journalist who has worked in both television and newswires. She spent over 10 years at Dow Jones covering commodity markets, including metals, coffee, cocoa and oil. She also reported from the floor of the London Metals Exchange, and appeared on CNBC to discuss international metals markets. Since then she has written for several leading financial publications, including serving as commodities editor for FTSE Global Markets.

Vanya continues to cover international commodities markets globally, specialising in particular on metals and alternative energy. She is also the author of a book on CFD trading.

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