ECN Forex broker FXOpen is expanding its asset lineup by offering more than 100 trading contacts for difference (CFD) shares to Australian clients.
Year after year, stock assets are becoming ever more integrated into the global financial system. Following the trend, FXOpen has now announced that it will add an equity market product to Australian clients under a local entity, FXOpen AU. The broker will offer access to over 100 company shares CFDs.
FXOpen to Offer Tesla and Amazon Stocks
FXOpen, notable for its ForexCup Trading Contest will offer more than 100 CFDs on company shares via ECN accounts. The offering includes CFDs on some of the US's most popular stocks such as Facebook, Tesla, and Amazon.
FXOpen also proposes 1: 5 leverage on CFDs on US Shares, while emphasizing that there will be no dealing desk and restrictions.
Since its founding in 2003, The UK-based broker has been known to provide ECN pricing for forex trading. However starting last year, FXOpen started to expand its business with the addition of special stock CFDs for UK clients. In 2021, along with the increasing demand for shares of top global companies, FXOpen is trying to enlarge its service space and penetrate the stock business.
Commenting on these developments, FXOpen UK Chief Operating Officer, Gary Thomson said, even though FXOpen added a new trading instrument, their British entity on the other hand was forced to release all cryptocurrency CFDs late last year as the country's financial market regulators ban the sale of crypto-derivatives to retail consumers. This is also what made FXOpen shift its retail business to an Australian entity.