LONDON and SYDNEY, Australia and JOHANNESBURG, South Africa, Feb. 02, 2021 (GLOBE NEWSWIRE) — FXCM Group, LLC ("FXCM Group' or "FXCM'), the leading international provider of online foreign exchange trading, CFD trading, cryptocurrencies and related services, is today announcing a further expansion of its Stock Basket offering to customers. FXCM previously introduced a portfolio of Stock Baskets in May 2020 and are now expanding this offering with the addition of seven new baskets.
Currently, FXCM offers six Stock Baskets to its retail clients. These feature some of the most widely traded companies globally and are made up into the following: Big US Tech ("FAANG"), Esports & Gaming, Biotechnology, Cannabis, China Technology and China E–commerce. These baskets have proven to be popular with their customers and as a result they are expanding this area with a host of new products.
The new sectors added include Airlines, Casinos, Travel & Hospitality, US Automotive, US Banks, US E–commerce, and "Work From Home'.
FXCM's Stock Basket products combine the shares of multiple companies from one sector into a single tradeable instrument. This allows customers to speculate on sectors as a whole instead of having to depend on the performance of a single company.
For example, the "Work From Home' basket combines the companies that have become front and centre of every day life for many under lockdown, including Zoom Video Communications Inc, Slack Technologies Inc, Twilio Inc, as well as Chewy Inc and Peloton Interactive Inc. With these companies having prospered during the pandemic, there was a lot of interest from FXCM's customers to invest in them. The "Work From Home' basket pools these companies and allows for smaller investors to invest some of these key companies.
The list of companies and weightings is available on FXCM's stock basket website: (https://www.fxcm.com/uk/stock–baskets/).
This announcement follows on from a year which saw FXCM launch US, UK and European Single Shares trading, with the broker expected to add trading on more individual company stocks and new exchanges throughout 2021.
Brendan Callan, CEO of FXCM said: "We are always looking to create new opportunities for our customers to capitalise on, and this is continued with these new baskets reflecting some of the industries that have seen the biggest market movement during the pandemic. Their addition to our offering will provide our customers with the ability to speculate on the fluctuation of companies that have dominated the headlines throughout 2020 in a more cost–effective way, while minimising their risk by spreading exposure across multiple stocks in just a single click."
About FXCM:
FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, and related services. Founded in 1999, the company's mission is to provide global traders with access to the world's largest and most liquid market by offering innovative trading tools, hiring excellent trading educators, meeting strict financial standards and striving for the best online trading experience in the market. Clients have the advantage of mobile trading, one–click order execution and trading from real–time charts. In addition, FXCM offers educational courses on FX trading and provides trading tools, proprietary data and premium resources. FXCM Pro provides retail brokers, small hedge funds and emerging market banks access to wholesale execution and liquidity, while providing high and medium frequency funds access to prime brokerage services via FXCM Prime. FXCM is a Leucadia Company.
Forex Capital Markets Limited: FCA registration number 217689 (www.fxcm.com/uk)
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
74.74% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM EU LTD: CySEC license number 392/20 (www.fxcm.com/eu)
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
The vast majority of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM Australia Pty. Limited: AFSL 309763. Losses can exceed your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved. If you decide to trade products offered by FXCM AU, you must read and understand the Financial Services Guide, Product Disclosure Statement, and Terms of Business on www.fxcm.com/au.
FXCM South Africa (PTY) Ltd: FSP No 46534 (www.fxcm.com/za). Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved.
FXCM Markets Limited: Losses can exceed deposited funds. (www.fxcm.com/markets).
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