eToro adjusts crypto trading in France and Australia, limiting CFDs while emphasizing physical assets.
Even though last year, its shares decreased and offered $60 per share, Forex broker eToro will limit non-leveraged cryptocurrency CFD trading in France and Australia.
Clients are advised to liquidate non-leveraged long positions with these instruments ahead of the approaching deadlines on February 19 for Australia and February 21 for France.
This Israel-based broker stresses that all open, non-leveraged CFD crypto assets positions shall be closed at market value after the deadline.
However, this FCA-regulated broker will still make available physical non-leveraged crypto trading options in both countries despite the restriction. Traders who wish to keep their open positions are advised to close the Crypto CFD and change it to similar but real assets positions.
Furthermore, traders interacting with real crypto assets will no longer be charged overnight fees because such costs only apply to CFD positions. This step is one of the wider global restructuring of its cryptocurrency proposals, attributed to the last closure of crypto custody services in Germany.
It is a proactive move by this leading social trading broker that has partnered with Munich-based BaFin-licensed crypto custodian Tangany to ensure the transfer of German crypto custody customers.
Despite the drawbacks of its attempted merger with a blank-check company for public listing, forex broker eToro is determined to remain integrated, obtaining several licenses throughout Europe and the Middle East.
With this forex broker news, you now know that the emphasis on physical assets reflects major industry trends and, in response to brokers acquiescing to changing regulatory environments and investor desires.