Moneta Markets, a fast-growing forex and CFD broker, added more ETFs to its trading platform as it seeks to diversify its products.
In a statement, the company added 51 ETFs to its trading platform. An ETF is a financial product that tracks a basket of assets and indexes. Some of the most popular ETFs are Invesco QQQ and Vanguard S&P 500 fund.
Some of the ETFs that Moneta Markets added were VanEck Gold Miners, iShares Global Clean Energy, Bitwise Crypto Industry ETF, United States Oil Fund, ARK Innovation Fund, and United States Brent Oil Fund among others.
Most of these funds have leverage of 1:1 while others have leverage of 33:1. The commission for these ETFs is $6, which is quite substantial. In a statement, the company’s founder said:
“We are building Moneta into a true multi-asset broker that rivals the old dogs of the industry, so it is crucial that we continue to evolve our offering based on the demand of our clients, as well as to make sure we are positioned ahead of the pack, competitively.
In addition to ETFs, Moneta Markets offers other financial assets like forex, commodities, indices, and shares. In total, it offers over 1,000 forex and CFDs and customers can start by depositing just $50. The company has over 35,000 customers from around the world and handles over $100 billion every month.
The addition came at a time when forex and CFD brokers are seeing strong competition from around the world. Some of its top competitors are companies like ATFX, IG Group, and Exness.