On Wednesday, FXOpen announced the addition of equities market product offerings to its Australian clients. Their Australian clients were onboard under the FXOpen AU, their locally regulated entity.
FXOpen is a Global forex and CFDs broker and will offer more than 100 company stock CFDs to its Australian clients on the ECN account.
The offering will include the CFDs of some top US stocks such as Tesla, Facebook, and Amazon. FXOpen will also offer leverage of 1:5 on the US Stocks CFDs, and there’ll be no dealing desk and offering restrictions.
The Rising Demand for Global Equities
FXOpen was established in 2013 and is known for offering ECN pricing on forex trading pairs. Last year, the broker expanded its offerings with share CFDs but only for the UK clients.
The broker is expanding its services when the demand for top global companies is skyrocketing across the globe.
Gary Thompson, FXOpen Uk’s CEO, commented on the development, saying that they had seen an increased uptake in equity trading in recent months within their UK brokerage. He added, they were happy to widen the reach of equity markets to the broader FXOpen group.
FXOpen is adding a new assets class. However, its UK counterpart had to drop all cryptocurrency CFDs by the end of last year. Last year, the financial market regulator banned retail cryptocurrency derivatives offerings.
However, the Aussie unit will continue offering trading services with cryptocurrencies.
Also, the broker added another account funding option with POLi services to its Aussie post, which will not charge any fees for deposits.