Cryptocurencies are increasingly being adopted in the mainstream retail brokerage. This is mainly driven by the increase in demand for digital currencies, which has in turn led to a rise in prices. Amana Capital has announced that it has launched the trading of contracts-for-difference (CFD) cryptocurrency on the MetaTrader 5 platform.

Amana’s mission

The launch is in line with the company’s mission of having a variety of trading instruments on its platform so as to offer its customers a fuller trading experience. Many brokers in the mainstream financial system are increasingly showing interest in accessing digital currencies. This has in turn prompted many exchanges to increase their respective offerings.

At first, many retail brokers were reluctant to add CFDs in their platforms. However, this trend has been changing over the last year, a move motivated by an increase of traders who are seeking to tap into the crypto boom.

Trading options

In its first phase, both new and existing customers will be able to trade Ripple, Litecoin, Ethereum and Bitcoin. Amana will add more digital currencies in the future. The MetaTrader 5 platform will offer competitive swap rates, a flexible leverage and 24/7 multi-lingual customer acre assistance. The choice of Bitcoin, Ethereum, Litecoin, and Ripple are meant to offer traders a strong baseline because these instruments comprise the majority of trading on many exchanges.

Many will be keeping a close eye on Amana to see which more cryptos will be added on the platform. Demand for digital currencies is expected to surge in the second quarter of 2018. After dropping at the end of last year, crypto markets have once picked up, which is expected to drive up demand among Amana clients.

Amana Capital CEO Ahmad Khatib said that by making digital currencies available to traders on its platform, the broker is strengthening its strategic mission of having a diversity of financial offerings and services. He added that they strongly believe entering the digital currency market is a strategic move.

Amana Capital is part of the 180 Capital and is a specialist on online trading which handles retails and institutional clients around the world.