In line with earlier reports, online broker Rakuten Securities Australia is expanding its offering of trading instruments.
Effective today, more products are available to trade for the clients of the company. The lineup of new additions includes:
- UK Crude Oil
- US Crude Oil
- UK Crude Oil +$100
- US Crude Oil +$100
- SPA35 (Spain 35)
US Crude Oil+$100 and UK Crude Oil+$100 track the movement of WTI and Brent and offset their price, remaining as live products even in the case that it drops below 0. These products are rebased at $100. This means, should spot price fall into negative territory, for example -$5 USD, the pricing will reflect this at $95.
The broker plans further additions to its offering. For instance, Bitcoin will be available from 5th July.
Let’s note that Rakuten Securities has recently implemented new margin requirements for CFDs, in accordance with the rules introduced by the Australian Securities and Investments Commission (ASIC).
Under the new rules, the restrictions on CFD leverage are:
- 30:1 for a major currency pairs
- 20:1 for minor currency pairs, gold or a major stock market index
- 10:1 for commodities (other than gold) or a minor stock market index
- 2:1 for crypto-assets
- 5:1 for shares or other assets
There is a new Margin Close-out Protection rule, which means that margin close out levels will be set at 50% of equity. There is also a Negative Balance Protection, as well as restrictions on inducements for retail traders of CFDs.
