FXCM has expanded its product line with the latest addition of Australian single share CFDs on its platform, the FX and CFDs broker announced. The platform will not charge the traders any commission for trading with these share CFDs.
Additionally, the broker will facilitate fractional trading with these CFDs instruments, meaning traders can take positions with a minimum of 1/10 size of each share. Moreover, the broker sweetened its offering by dropping the data subscription fees.
“The addition of Australian stocks along with our existing AUS200 index will not only benefit our Australian customers, but it will also create more opportunities for our entire global client base,” said FXCM CEO, Brendan Callan. “Fractional shares remove a barrier for those who want to invest smaller sums, including underserved individuals who would like to experience trading.”
A Global Broker
Established in 1999, FXCM is owned by the American financial services firm, Jefferies Financial Group. The broker holds multiple regulatory licenses and has services around the globe. Last year, it gained an operational license from the Cyprus Securities and Exchange Commission (CySEC) to continue its operations in European markets following Brexit.
“This new product complements our Hong Kong, UK, European and US offerings, as we close in on having stock trading available almost 24 hours a day,” Callan added.
The addition of the new market came when the broker was already pushing its services to the Australian traders with multiple campaigns. In addition, it is focused on further expanding its product line and added several thematic stock baskets.
Furthermore, the broker partnered with ZuluTrade earlier this year to facilitate social and copy trading services to its client base.