A new service has surfaced in the crypto world. Cryptomajor, a cryptocurrency basket, is introduced by the leading international provider of online foreign exchange trading, CFD trading, cryptocurrencies, and related services, FXCM Group.
The crypto basket will allow the users to group together multiple cryptocurrencies at a single time as one tradeable product, eliminating the need to manage each digital asset independently. It is comprised of the five cryptocurrencies traded at the platform, including Bitcoin, Ripple, Litecoin, Bitcoin Cash, and Ether. The service differs from already existing baskets as CryptoMajor addresses hedging transparency issues by providing equal weight to every coin in the basket, checking the no over-exposure to just one crypto.
“Trading a basket of cryptocurrencies means our users are freed from the hassle of constantly monitoring the markets. CryptoMajor, therefore, streamlines the trading process and protects our customers from unanticipated and adverse market movements. It is a great opportunity for our customers who are looking to move into Crypto trading but don’t want to risk too much overexposure,” said Brendan Callan, the CEO of FXCM. The CryptoMajor basket is open on all of FXCM’s flagship platforms and also on MetaTrader 4, NinjaTrader, and via API.