Know Your Hashrates From Your Pharmaceuticals? You Can Now Trade Commission Free!

No, not that kind of hash. I refer to the words of technology entrepreneur Jeff McGonegal, who last year said that he wanted to increase the hash rate by purchasing 8,000 new Bitmain S19 Pro Antminers for $17.7 million.

He was, of course, referring to the hashrate, which refers to the number of hashes that a cryptocurrency mining computer can make in each period of time, usually a second.

Mr McGonegal is CEO of Riot Blockchain, which is a NASDAQ-listed cryptocurrency mining entity, based in Castle Rock, Colorado, whose stock price appreciated sharply in 2017 after announcing a pivot from veterinary drugs and medical technology to blockchain.

The intention of the increase in hardware was to bring a total of 9,000 mining machines online by January this year and grow the network at a rate of 2,000 machines until April this year.

It’s been a tumultuous journey for the company’s stock, as remarkable as it is that a Bitcoin mining enterprise is even able to list its stock on a public exchange, and values remained very low until a sudden spike in February this year which took the stock from a paltry $3.40 to a sudden $77 per share, before tailing off to its current value of $28.

This is just one of the interesting range of stock CFDs that ETX Capital is now offering with zero commission.

Today, ETX Capital selected a range of stocks available for trading with zero commission, representing a diverse selection of industry sectors including pharmaceutical giant Moderna, big tech mainstays Amazon and Tesla, and internet giant Alibaba.

The ethos behind providing these stock CFDs on a commission-free basis centers on continual demand among ETX Capital’s loyal client base for stock CFDs, as well as a need to reduce entry barriers experienced by new traders wishing to begin their trading journey on indices. ETX wanted to provide a larger cross section of the trading community with a simpler way to buy and sell these bigger stock CFDs with no minimum charge or commissions.

Due to their lower costs, commission-free trading apps tend to offer less research and investment information to their customers than established platforms, however with ETX Capital, traders can have the best of both worlds, with zero commission on these ten selected stocks, and a number of detailed analytical resources each day, ranging from our own technical analysis from Alex Neale and Michael Baker, and of course my own televised and written research which is published several times per day across a range of channels.

Commission-free stock trading evolved from a market niche dominated by newcomers to a mainstream feature in just a few years, however now the ability to trade popular stocks with an established brokerage with a long-term, loyal client base is very much here.

Risk warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.5% of retail investor accounts lose money when spread betting or trading CFDs with ETX. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money.

Authorised and regulated by the Financial Conduct Authority, with Firm Reference Number 124721.

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