Australian-owned Forex and CFDs brokerage AxiTrader is launching an industry-wide innovation for MT4 trading by adding margin exotic FX contracts which are based on the prices of rolling Non-Deliverable Forwards (NDFs).
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Clients of AxiTrader have gained access to over 10 new exotic Margin FX contracts that are focusing on trading emerging markets currencies that have not been widely available on an MT4 solution before.
The pairs add trading opportunities in Brazilian reals (BRL), Chilean pesos (CLP), Columbian pesos (COP), Chinese yuan (CNY), Indonesian rupiahs (IND), Indian rupees (INR), South Korean wons (KRW), Malaysian ringgits (MYR), Philippine pesos (PHP) and Taiwanese dollars (TWD). All of the above will be traded against the U.S. dollar.
Customers of AxiTrader will be able to trade the pairs without having to hold on to an NDF for a month, which is normally the case, a hurdle which is complicating the product for retail investors. The daily rollover charges and benefits for trading positions will remain in place.
Commenting on the launch of the new product, the Head of New Products and Institutional Sales at AxiTrader, Alex MacKinnon, said: “Adding these exotic currency pairs to our MT4 offering is a clear win in terms of the additional products offering accessible via AxiTrader, but it also underlines our focus on innovation.”
“We invest a huge amount of time and resource towards finding new and better ways to trade, whether that’s developing a new tech-driven solution that’s never been applied to trading before or expanding our product range,” he added.
