The Victoria Falls Stock Exchange Limited (‘VFEX”) wishes to advise stakeholders on the launch of a new product Contract For Differences (CFDs) which will be traded on the VFEX. The CFDs were officially launched by the Minister of Finance, Economic Development and Investment Promotion, Honourable Professor Mthuli Neube and will start trading on the VFEX ‘effective 13 May 2024.
During his keynote address, the Minister of Finance, Economic Development and Investment Promotion, Honourable Professor Mthulii Ncube emphasized “how the introduction of CRD trading on VPEX represents a positive step as it provides investors with versatile and dynamic tools to participate in the {financial markets through regulated instruments". Honourable Professor Mthuli Neube added that “the launch of CPDs has come at an opportune time, given the rapidly changing global finance landscape. Now more than ever, it thas become crucial for investors to have access to innovative instruments that ‘can assist them in managing their risk and seize opportunities in volatile markets”.
The CEO of the VFEX, Mr Justin Bgoni during his remarks, highlighted the benefits of trading in CFDs which include;
- CFDs provide an efficient way of maximizing one’s capital outlay and can help diversify one’s existing investment portfolio or hedge a position
- CFDs are leveraged products enabling traders to increase their ‘exposure to an underlying asset with a small initial outlay
- CFDs allow traders access to a wide range of global markets that would otherwise be difficult to access.
- It is easy to trade CFDs on Commodities like Gold, Silver, Oil, as well as a variety of global indices without having to trade the futures contract itself.
VCG Markets CEO, Mr Abdallah Garib reiterated his company’s commitment “to harnessing the talents and resources of Zimbabwe, to create opportunities, foster entrepreneurship and contribute to shaping the investments, trading and finance industry in Zimbabwe.”
The VFEX will continue to explore initiatives that deepen the Zimbabwean capital markets and this will be achieved through innovation and diversification of our product and service offerings.
Investors wishing to trade in CFDs can contact the licenced and registered CFD broker, VCG Markets Zimbabwe for guidance. VCG Markets Zimbabwe is the first foreign broker to be registered and licenced on VFEX. VCG Markets is a multi-asset broker that offers a variety of trading instruments, including forex, CFDs, and cryptocurrencies. VCG Markets operates in Mauritius, Saint Vincent, Iraq and Zimbabwe.
