Online forex broker ForexYard has launched a new CFD trading platform, seeing yet another of the online brokers moving in on contracts for difference. Traditionally more concerned with forex and commodities, ForexYard has taken the plunge to launch CFD trading across most major indices, including the NASDAQ, Dow Jones and the S&P 500, with so-called ‘one click trading’ to simplify the CFD markets even further.

At a time when we’re seeing potentially lucrative swings in the markets – from rising oil prices and gold through to airline disruption and the real possibility of a UK hung parliament – the introduction of the CFD platform at ForexYard is making it all the more accessible for traders to get involved in trading contracts for difference online, and is presenting the (already heavily saturated) market with a new option.

For firms launching into this current dog-eat-dog market, it’s important to be ready for a rush to the bottom, and to continue to innovate and make life easier for traders in order to survive. And with the latest round of belt-tightening across the industry, spreads look set to shrink even tighter as more competitors enter the fray.

So what does this mean for traders? At a time when we’re seeing brokers slash their margins in aggressive competition, the introduction of yet another leading broker into the CFD trading market might just (with any luck) keep brokers on the back foot, and help maintain the downwards pressures on broker commissions across the board.

When spreads and broker margins are eating in to trading profits, we say the more market competition amongst brokers, the better and more competitively priced service us traders will receive.

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