RATE Group | UK Forex Giant Launches New Bitcoin Service as Brexit Fears Grow
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UK Forex Giant Launches New Bitcoin Service as Brexit Fears Grow

14 Oct UK Forex Giant Launches New Bitcoin Service as Brexit Fears Grow

Posted at 14:20h in Bitcoin News by

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UK-based FXCM Group has introduced a new bitcoin trading service right around the time when investors weigh the possibility of a hard Brexit.

The forex brokerage giant announced in a press release published on Monday that it is launching CryptoMajor. It is a basket that contains five popular cryptocurrencies – Bitcoin, Ether, XRP, Bitcoin Cash, and Litecoin – in equal proportions. CryptoMajor behaves as a single unit representing the combined value of the said assets. It means FXCM users would be able to collate and offload multiple cryptocurrencies at one go, without the need to manage each one of them independently.

Brendan Callan, the chief executive officer of FXCM, treats CryptoMajor as an ideal hedging risk management tool for retail traders. He projected the basket as a “great opportunity” for traders who want to start trading cryptocurrencies but do not want “to risk too much exposure.”

 “Trading a basket of cryptocurrencies means our users are freed from the…

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