Betfred to launch Forex, CFDs trading website

Betfred is to expand its service offering into the Forex and CFDs trading market with the launch of TradeFred.

The new online platform, which officially went live this week, is the result of a partnership between Betfred and Vanuatu-registered MagicPath Capital.

According to Leaprate.com, MagicPath is listed as the owner of the TradeFred brand, while Betfred serves as a technology provider.

At present, although TradeFred describes itself as a “multi-national company with offices around the world”, it only holds a licence issued by the Vanuatu Financial Services Commission and is not cleared for operations in the UK or Europe.

However, TradeFred also lists an English company called PathMagic Capital on its website and said that this is the “entity of where the merchant has an additional permanent location and conducts business activities in Europe”.

TradeFred also said on its website: “We always have our finger on the pulse of each and every new development, and are committed to updating our services to reflect the latest technological advancements.

“This ensures we are able to keep up with the rapidly-changing Forex and CFD markets and deliver a seamless trading experience.”

The launch comes shortly after Betfred also moved the social gaming sector by launching a new mobile application in partnership with Caleta Gaming.

Related article: Betfred enters social market with Caleta Gaming