Limassol, CY – 23 June 2020
The broker now offers pairs with Bitcoin, Bitcoin SV, Bitcoin Gold, Ethereum, Ethereum Classic, Litecoin, Ripple, as well as EOS, Stellar, TRON, Dash, IOTA, Monero, Zcash and NEO, against fiat currencies, USD, EUR, GBP and JPY, thus providing traders with a rich choice for trading.
The new crypto products are available for trading on HYCM’s fixed, classic, and raw accounts on its MT5 platform with 1:20 leverage and significantly low spreads.
Giles Coghlan, HYCM’s Chief Currency Analyst, commented on the market situation in the crypto space:
“In the midst of our global COVID-19 crisis, central banks around the world are both cutting interest rates and increasing bond-buying programmes. Furthermore, governments around the world have pledged more than $8 trillion in stimulus measures in order to cushion the financial impact of the coronavirus. This all means that nations are now running the risk of inflation levels devaluing investors’ cash in the bank.
This is all pushing renewed interest in areas like the cryptocurrency space. Recently high profile investor Paul Tudor Jones advocated the crypto space in the current environment saying “Bitcoin reminds me of gold when I first got into the business in 1976”. For those who don’t know, gold had a very strong bull run in the 1970s.
Cryptocurrencies popularity looks set to grow as investors look to hedge deflationary risk by keeping some of their portfolios in the crypto space. This is why we are delighted to announce the expansion of our cryptocurrency products today.”
By trading cryptocurrencies* with HYCM, traders benefit from the safety of a regulated broker, the possibility to withdraw funds at any time without the need of an exchange, and MT5 charting tools with many available indicators.
*Cryptocurrencies are not available under HYCM (Europe) Ltd.
HYCM is the global brand name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, Henyep Capital Markets (DIFC) Ltd and HYCM Ltd, all individual entities under Henyep Capital Markets Group, a global corporation founded in 1977, operating in Asia, Europe, and the Middle East.
High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.