Forex Broker Orbex Diversifies into Crypto Trading with 11 Pairs

Orbex, a provider of forex and contract for difference (CFD) trading services, has diversified its portfolio by introducing its cryptocurrency trading service.

Beyond trading forex, equities, indices, metals, energies and futures, traders can now trade 11 of the world's largest cryptocurrencies by market capitalization, the firm said in a statement on Wednesday.

The coins are Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Cardano, Dogecoin, Polkadot, EOS, Chainlink and Stellar.

Orbex, which celebrated its 10-year anniversary in 2020, noted that the cryptocurrencies are all paired against the US dollar.

“Featuring some of the most sought-after digital currencies, Orbex's new crypto range affords traders the opportunity to buy and sell crypto CFDs and trade their fluctuating prices without having to buy or store digital currencies in a wallet,” the investment firm said in the statement.

Keeping Up with the Market

Speaking on the move, Abdullah Abbas, Orbex’s Chairman, said the introduction of crypto pairs is a delivery of the firm’s promise to provide its clients access to a wide range of markets with the best possible trading conditions.

“At Orbex, we remain committed to keeping pace with market trends and gauging investor demand in order to continue to innovate with new assets, tools and services for our clients," Abbas added.

Orbex recently kicked off the MENA Forex Roadshow to educate participants on trends in the forex market in 2022.

The show included local education seminars in Bahrain, Oman, Kuwait and Egypt.

Orbex said it welcomed over 100 beginner and advanced traders from the region.

Meanwhile, the total number of cryptocurrencies on eToro, a social investment and trading network, hit 62 tokens in April after the platform added 4 new tokens to its platform.

The new tokens were Ethereum Name Service (ENS), Cronos (CRO), Kyber Network (KNC) and LUNA.