Retail FX and CFDs broker FXCM Group, LLC has announced a further expansion of its Stock Basket offering to customers. FXCM previously introduced a portfolio of Stock Baskets in May 2020, said that they and are now expanding this offering with the addition of seven new baskets.

Currently, FXCM offers six Stock Baskets to its retail clients. These feature some of the most widely traded companies globally and are made up into the following: Big US Tech (“FAANG”), Esports & Gaming, Biotechnology, Cannabis, China Technology and China E-commerce. These baskets have proven to be popular with their customers and as a result they are expanding this area with a host of new products.

The new sectors added include Airlines, Casinos, Travel & Hospitality, US Automotive, US Banks, US E-commerce, and ‘Work From Home’ (WFH).

FXCM’s Stock Basket products combine the shares of multiple companies from one sector into a single tradeable instrument. This allows customers to speculate on sectors as a whole instead of having to depend on the performance of a single company.

For example, the ‘Work From Home’ basket combines the companies that have become front and centre of every day life for many under lockdown, including Zoom Video Communications Inc, Slack Technologies Inc, Twilio Inc, as well as Chewy Inc and Peloton Interactive Inc. With these companies having prospered during the pandemic, there was a lot of interest from FXCM’s customers to invest in them. The ‘Work From Home’ basket pools these companies and allows for smaller investors to invest some of these key companies.

This announcement follows on from a year which saw FXCM launch US, UK and European Single Shares trading, with the broker expected to add trading on more individual company stocks and new exchanges throughout 2021.

Brendan Callan, CEO of FXCM said:

“We are always looking to create new opportunities for our customers to capitalise on, and this is continued with these new baskets reflecting some of the industries that have seen the biggest market movement during the pandemic. Their addition to our offering will provide our customers with the ability to speculate on the fluctuation of companies that have dominated the headlines throughout 2020 in a more cost-effective way, while minimising their risk by spreading exposure across multiple stocks in just a single click.”