Eightcap Launches Mammoth Crypto Derivatives Offerings for Retail Traders 

Mammoth Crypto Derivatives

The cryptocurrency industry is currently in a very unique but challenging phase in its evolution. On one hand, it is seeing more public visibility and engagement than ever before which means more money is flowing into the sector. On the other hand, this means that the industry is under more scrutiny than before, especially when it comes to crypto exchanges. 

Take Binance, one of the biggest crypto exchanges in the world, that has been forced to shut down derivatives trading in several European countries such as Germany, Italy, and the Netherlands, as well as in Hong Kong. This has been due to regulatory issues and this has made retail traders question the stability of the derivatives market. Will they be able to trade derivatives moving forward?

Eightcap Going Against the Grain

While there is concern about crypto exchanges tightening their offerings to customers, Eightcap, an award-winning CFD broker steps in with a solution. The broker announced on August 6, 2021, the launch of over 250 crypto derivatives, positioning itself as the provider of the largest cryptocurrency derivatives offering. Eightcap offers these derivatives to customers via the popular MT4 and MT5 platforms, making trading accessible.  

Eightcap is currently regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CYSEC) and the Vanuatu Financial Services Commission (VFSC) giving traders the peace of mind that they are entering the financial markets with a broker that is regulated in multiple jurisdictions.  Eightcap recognises the concerns crypto derivative traders currently face at exchanges and brokers with their withdrawals, and is determined to provide a solution with its swift withdrawal process and funding via multiple payment options, all of this can be done without the need for a wallet.

“Our vision at Eightcap is to provide a new home for Crypto derivative traders by providing an unparalleled offering that includes the largest crypto derivative library paired with ultra-low spreads and fast withdrawal options,” said Joel Murphy, CEO, Eightcap. 

Murphy further acknowledged that the current regulatory atmosphere has not been the most conducive for the industry, as well as the ongoing concern among crypto derivative traders. He, however, assured that Eightcap users would be able to enjoy a seamless experience from opening their accounts to withdrawing their funds. 

Marcus Fetherston, the Director of Operations at Eightcap, also spoke on the matter, saying, “The Eightcap offering focuses solely on creating regulated leveraged derivative trading opportunities for Cryptocurrency traders, that offers more security than traditional offshore exchange platforms. We are thrilled to provide a solution that meets the needs of crypto derivative traders so that they can gain the best possible trading experience.” 

The Crypto Exchange Scene Moving Forward 

The treatment of cryptocurrency exchanges by regulatory bodies, and the subsequent effect on users, is a tricky scenario. For years, the industry was under suspicion of being used for criminal activity or tax evasion, especially given that many exchanges had low or no KYC requirements in place. 

Now that the industry is being taken mainstream, these suspicions have not fully gone away and regulators are being quite strict on exchanges in particular. Many are now required to submit user information to tax authorities, demand legal identification before accounts can be opened, and there is concern about limits on withdrawals. 

This is what makes Eightcap’s announcement so remarkable in that rather than shrinking in terms of its offerings to consumers, the company is expanding and offering more derivative trading options. From all indications, Eightcap is truly on its way to becoming the go-to platform for derivatives trading among crypto users.

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