The FXCM Group announced this Tuesday that it has expanded its offering by launching zero commission fractional shares. This then reduces the minimum trade size of single stock contracts for differences (CFDs) to one-tenth per share increments.
All single stock CFDs offered by the online forex trading provider are now available at one-tenth per share increments. This allows clients to hold positions in large companies like Apple, Facebook, or Netflix for less than $5 in margin.
The new offering from the firm will be available via MetaTrader 4. It will also be on the Trading Station platform, and on mobile devices. The company said that the ability to invest in fractional shares provides greater control of position sizes.
The latest trading provider to offer fractional shares is FXCM. The new initiative has been offered by firms as part of a developing trend to attract new investors, namely millennials. They saw a range of companies launch commission-free offerings, which have now expanded into fractional shares.
With the growing market volatility, their customers, understandably, want greater control and variety in terms of their trading opportunities. This was a statement from Brendan Callan, CEO of FXCM.
He also said that with fractional trading available, this is exactly what they are providing. They offer a user-friendly service allowing anyone to trade companies in a way that allows them flexible trade sizes. Combined with commission-free single stock CFD pricing structure, they’ve made the trading of household named shares more accessible, Callan added.
FXCM Expands its Offering
The FXCM Group, LLC is the leading international provider of online foreign exchange trading, CFD trading, cryptocurrencies, and related services.
It has been actively expanding its offering in recent months. The trading provider recently launched stock baskets, forex baskets, and, last month, new spot CFDs on oil. The two new spot oil products represent the current spot price of West Texas Intermediate and Brent Crude.