LCG starts offering trading in crypto

The UK-based London Capital Group (LCG) has started a new service that would allow its clients to trade contracts for difference (CFDs) products in cryptocurrencies.

The new service will accept both Bitcoin and Ethereum, two of the major cryptocurrencies.

Customers will be able to trade cryptocurrencies as pairs against fiat currencies, including the US dollar, euro, Swiss franc, Great Britain pound and Japanese yen.

LCG has linked up with Global Advisors Holdings Limited to develop the extended service.

“Cryptocurrencies have grown in prominence and popularity amongst traders in recent years,” LCG said.

“Underpinned by innovative blockchain technology, cryptocurrencies are not issued or controlled by central banks or government agencies.”

“Their decentralised nature forms part of the appeal for traders, as cryptocurrencies, theoretically, cannot be manipulated or interfered with by outside forces.”

“Highly susceptible to news and announcements, cryptocurrencies are prone to market volatility, providing ample trading opportunities.”

Opening up to crypto will carve out a new opportunity for LCG. On average, crypto customers are worth double the value of those who are yet to embrace the payment method, Winning Poker Network CEO Phil Nagy said in June.