The Australian-based broker, ACY, is appealing to cryptocurrency fans with the addition of four new tokens to its derivatives offering. The firm has included Chainlink, Stellar Lumen, Polkadot and EOS in their list, adding to the well-established cohort of Bitcoin, Ripple, Ethereum, Litecoin, and Bitcoin Cash. All of the tokens can be traded against the US dollar.
The move displays an ambition to expand further into the crypto-derivatives market. Alla Darwish, Head of Global Brokerage at ACY Securities, has issued a statement explaining why the tokens are a priority for the firm.
He stated that the volatility in the crypto market makes it an attractive investment for many clients, but that increasingly, there is interest in speculation on the price of the asset, rather than ownership. Derivatives allow you to profit from price movements without the burden of moving tokens into hack-proof wallets. Plus, there’s the opportunity to hedge, meaning that money can be made from bearish as well as bullish markets.
ACY is committed to expanding its list further, so watch out for more additions in the near future.
About ACY Securities
This year, the broker also began an expansion of their stock offering, doubling the number of assets available from 800 to 1600. They cover shares from some of the top global exchanges, including the NYSE, NASDAQ, NYSE Arca Equities and the ASX.
ACY also offers forex, indices and commodity trading on the MetaTrader 4 and 5 platforms. It promises ultra-fast execution speeds and spreads from 0 pips on the ProZero account. Standard accounts are also available, with just a $50 minimum deposit, and the Bespoke account offers some of the lowest commissions on the market. The firm is regulated by the Australian Securities and Exchange Commission (ASIC).
Tim Cahill, the Australian footballer known widely for his ability to powerfully head a ball to the back of the net, is sponsored by the broker. The firm has won a number of awards over its 10-year history. In 2020, it was awarded Best Multi-Asset Broker by Technology Era, having previously won Best Forex Broker in 2018 at the International Business Summit.