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First Global Credit Introduces Commodity Futures Trading For Bitcoin Holders

First Global Credit, a finance company completely focused on digital currency products, has announced that it is adding Commodity Futures to the list of what can be traded on the website.

The Commodity Futures Trading Service will initially offer 5 markets for customers to buy or sell contracts in; E-mini Crude Oil Futures, Comex Miny Copper, Comex E-Micro Gold, e-Mini S&P Futures, and E-mini NASDAQ 100, the company said.

“Commodity Futures is the next logical step in providing digital currency holders with choices to generate a return from their bitcoins,” states First Global’s CEO Gavin Smith. “It is our intention to create a portfolio of services that will meet the needs of the widest number of bitcoin holders”.

In order to trade futures using bitcoin as margin, clients are required to register an account and then go through standard verification process where they submit proof of identity and proof of address. Bitcoins are deposited in a segregated client account and can then be used to trade stocks, ETFs, futures as well as trade bitcoins against four fiat currencies.

Moreover, any account with more than 10 bitcoins will automatically receive interest as well, currently 2% per annum, the company added.

In February, the company stated that $2.2 million worth of stock and currency trading took place on the website – breaking the last record of $1.8 million worth of stock trading set in November 2015.

More than $2 million dollars’ worth of stock is now being traded monthly on the site, “and that is increasing at the rate of about 50% a quarter,” states Smith. “By continuing to add new market choices we will become a driving force in the creation of the bitcoin capital market”.

First Global Credit, launched in 2014, is the first company to make it possible to use bitcoins as margin to trade stocks. In January, it announced the expansion of its offerings, allowing customers to invest in a range of stocks listed on the London Stock Exchange (LSE).

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