RoboMarket Launches CFDs on Gold & Oil Amid COVID-19 Demand

European broker RoboMarkets announced this Thursday that it has expanded the list of available assets on its R Trader platform to include contracts for differences (CFDs) on metals and oil.

In particular, the broker has added CFDs on XAUUSD, XAGUSD, BRENT.oil, and WTI.oil. For all of the instruments, the broker offers spreads from $0.1. For the CFDs on metals, the firm charges a commission of $15 per $1 million trading volume, for CFDs on oil, the commission is $35 for $1 million trading volume.

While the broker has not provided the motivation behind its decision, it is worth pointing out that the launch of the new instruments comes at a time where demand for gold and oil is high driven by the coronavirus pandemic.

In particular, demand has surged for gold, as it is considered a safe-haven asset, and demand often surges during times of uncertainty. Oil has also become increasingly attractive due to the current price war between Saudi Arabia and Russia.

This offering is available through the broker’s R Trader platform, a multi-asset trading platform that became available in a mobile version towards the end of last year. Via the platform, users can trade foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term), CFDs, exchange-traded funds (ETFs), Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, indices, and more than 12,000 stocks. Traders need a minimum deposit of $100.

RoboMarkets continues to expand R Trader offering

As Finance Magnates reported, RoboMarkets has been actively expanding its offering on the R Trader platform, with the broker launching commission free trading on more than 3,000 stocks of the largest American companies, such as Amazon, Facebook, Netflix, Google, and more.

Prior to this, the company added more than 500 CFDs on European stocks to its R Trader platform. The CFDs added at the time included stocks from 11 European countries that hadn’t been available on the platform previously. In particular, these countries were Belgium, Denmark, Ireland, Spain, Italy, the Netherlands, Norway, Portugal, Finland, France, and Sweden.