Forex futures have seen a massive spike in demand in Germany recently, with traders seeking out brokers willing to deal in them. One forex broker decided to respond to the new rising interest by announcing the expansion of its offering. Foreign exchange broker known as FXFlat issued this announcement earlier this week, stating that its portfolio will soon see the inclusion of forex futures.
The decision came barely over a month after the launch of ETFs, which was also brought due to the growing interest by the exchange’s clients. Before the two, the company already worked with CFDs, FX, as well as cryptocurrencies.
As mentioned, the demand for products has been quite high ever since the broker decided to launch ETFs, back in May of this year. They launched CME and Eurex futures on May 1st, and since then, it processed more than 10,000 contracts, which shows just how rapidly trading and investing in Germany is growing.
The CFOO of FXFlat Wertpapierhandelsbank GmbH, Samed Yilmaz, commented on the development by stating that it has become more than clear that traders are more than interested in new, exciting financial instruments. According to his statement, it would appear that futures are among the most sought-after ones, hence the new move to offer additional instruments.
Yilmaz added that the huge request for futures on the futures exchanges Eurex and CME was a surprise for everyone. Naturally, in a positive way. As a response, he said that the expansion of the futures portfolio in the area of forex futures would arrive shortly.
He did not specify when that might happen, however, as there is no specific date given by anyone. Some had suggested that the company might conduct a two-week beta test phase for selected clients, similarly to what they did back when they were preparing to launch ETFs. But, as mentioned, there were no particular details regarding FX futures so far, and it is unclear how they plan to proceed.
Cryptocurrency and stock are becoming a part of the offering
As mentioned, the CFD and FX markets are on a noticeable rise in Europe. They already have a lot of players, with more joining all the time. As a response, brokers are in a hurry to expand their product offerings, not only to attract customers, but also to beat the competition and stand out.
Interestingly enough, many are even considering — or already making moves — to start offering cryptocurrencies. The move may come as an attempt to diversify its product offering, but it also means that the cryptocurrency is getting more exposure and that it is becoming more approachable than ever. AvaTrade, for example, added three new crypto CFDs only days ago.
Meanwhile, other brokers are planning the same. They are not stopping at cryptocurrencies, either, and their offering expansion is moving in all possible directions. Brokers appear more than willing to explore and consider different areas, even stocks. One example of this was JFD Bank, formerly known as JFD Brokers, which did just that back in February of this year. They added commission-free stock trading, which has proved to be a wise move, and traders kept coming ever since.