Evidence from the leading retail financial trading operators suggests trading in cryptocurrency-based derivatives is booming despite the UK’s Financial Conduct Authority (FCA) having warned in November that they represented “extremely high-risk, speculative products”.
Last week, UK-listed Plus500 said in a trading update that “strong volumes” in crypto-based contracts for difference (CFDs) had helped drive record quarterly revenues in the final three months of 2017.
In November, ahead of the most recent stratospheric rises in the value of Bitcoin and the other cryptocurrencies, the FCA suggested the price volatility of the cryptocurrencies themselves would be compounded in the CFD space by the leverage limits allowed by the major firms.
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