FXCM Group announced this Tuesday that it has expanded its offering by launching zero commission fractional shares, reducing the minimum trade size of single stock contracts for differences (CFDs) to one-tenth per share increments.
All of the single stock CFDs offered by the online foreign exchange (forex) trading provider are now available at one-tenth per share (0.1) increments, allowing clients to hold positions on large companies, such as Apple, Facebook, or Netflix for less than $5 in margin.
The new offering from the firm will be available via MetaTrader 4, as well as the Trading Station platform, and on mobile devices. According to the company, the ability to invest in fractional shares providers greater control of position sizes.
FXCM is the latest trading provider to offer fractional shares. The new initiative has been offered by firms as part of a developing trend to attract new investors, namely millennials, which saw a range of companies launch commission-free offerings, which has now expanded into fractional shares.
Commenting on the product launch, Brendan Callan CEO of FXCM said in the statement: “With the growing market volatility our customers, understandably, want greater control and variety in terms of their trading opportunities.
“With fractional trading available, this is exactly what we are providing; a user-friendly service allowing anyone to trade companies in a way that allows them flexible trade sizes. Combined with our commission-free single stock CFD pricing structure, we have made the trading of household named shares more accessible than ever before.”
FXCM continues to expand its offering
In recent months FXCM has been actively expanding its offering. As Finance Magnates reported, 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 (WTI) and Brent Crude.
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