Crypto CFD’s no more

Hi, I just read about the discontinuation of crypto CFD’s on here due to regulation changes, does anyone know if this is an across the border enforcement with all trading app or just something that 212 are doing? And will this be something other countries will follow too? As in the past cryptocurrencies can be quite volatile with large up and down movements affecting value, was this due to auto sell off features that we’ve come to see with CDF trading? Being a crypto holder on other apps, I’m please that 212 will be adding standard crypto investment options to there app hopefully they go with a different range of crypto investment than other apps have to help spread the availability of coins for investors

1 Like

So if you are a retail investor, from the UK, and use CFD Crypto or ETPs like BTCE, then yep you’ll only be able to hold and sell. So load up now if you want to have more.

That’s not a T212 thing that’s an FCA thing.

If you are a pro investor you should in theory still be able to use CFD crypto section.

Atm it’s just UK so holding BTCE should be absolutely fine as there will still be a market and buyers from other countries. Obviously if they killed off in all other countries then it destroys the liquidity if no-one can buy but professionals.

So to be clear It has no impact on the actual coins, you can still buy Bitcoin and all your other favs, just not the products that reference the underlying asset.

1 Like

Thank you for all this information, I know that government regulators are tightening up on crypto activities, looks like this could be some of the first steps, they must be missing out on some of our profits lol, just wasn’t sure how we were going to be affected but I think you explained a lot here, thank you

I’ve just read the notification too.

The FCA changes come into effect on 06/01/2021. The statement says “we will be gradually reducing maximum trading quantities of cryptocurrencies until December 1, 2020”.

I can’t see how the reduction can be particularly “gradual” over a period of just 9 days. Indeed, I was able to buy more bitcoin (BTC) last Thursday (19/11/2020) but I couldn’t buy any more over the weekend because the maximum traded quantity was reduced to 1 and right now it appears to have been further reduced to 0.5. When I asked about this on another thread, I got this response:

However, I don’t know if this explanation relates to the FCA ban or not.

Why do Trading 212 need to reduce the maximum traded quantity as a result of the FCA ban at all? And why are they targeting 01/12/2020 for the end of the reductions rather than 06/01/2021?

The statement also says “We’re currently working on introducing real crypto trading that’ll replace CFDs on cryptocurrencies as they’ll not be affected by the FCA’s ban”.

Can somebody from @Team212 give a rough idea of when that will be available on the platform?


Yeah that’d be interesting if you can buy coins via T212 in future, I wonder how the rates will compare. Anyway pretty cool.

I’ve read other topics on the subject of BTCE and the consensus seems to be that it will not be allowed, despite the fact that it is underpinned with real BTC. However, has that been 100% confirmed by @Team212 yet? I believe that the notification was only sent to CFD accounts, not INVEST or ISA accounts, so does that mean there’s still some hope for BTCE?

Yep and there’s another thread somewhere here where someone went as far to contact the BTCE provider directly and they said it was impacted by the FCA for UK customers.

So a case of load on up if you want it. I’d rather play with the coins directly.


1 Like

@Team212, can we urgently have more clarity on what’s happening with bitcoin (BTC) on the CFD platform between now and 06/01/2021 please? I’ve read the notification but it raises as many questions as it answers.

I need absolute clarity so I can plan how to take advantage of the probable cryptocurrency bull market.

Am I right in saying that the maximum traded quantity is currently set to 0 and therefore no retail investors can buy any bitcoin?

You’re (seemingly arbitrarily) reducing the maximum traded quantity “gradually” until the 01/12/2020, yet for several days it’s not been possible to add to positions in excess of 1 BTC. What’s the point of notifying your users of a deadline if nobody can take any action in advance of that date?

When will it be possible to buy more BTC and how high can we expect the maximum traded quantity to be before it reaches its final lowest level on 01/12/2020?

As I asked in a previous post, why are you reducing the maximum traded quantity at all? To be clear, I’m not talking about the usual reasons for a reduction. I’m specifically referring to why you are reducing it in response to the FCA ban.

What is the significance of 01/12/2020? Why are you setting positions to “close-only mode” on this date, over a month before the FCA ban comes into force?

When are you hoping to offer direct purchase of BTC?

1 Like

I can’t even open a new ETH position at all now, even with none on already.

As there is still plenty of time left to trade before the ban, which platforms are people moving to for crypto trading?

@Team212 - Please update us with your plans as lots of people will be looking to continue trading crypto somewhere while we can. Have you ended it early because you believe it’s only going one way and will lose on our gains?

1 Like

I already have an eToro account, which I opened specifically for Cardano (ADA). They have recently started offering staking for Cardano and TRON (TRX). However, I’m not a big fan of the user-interface and I’ve noticed that their BTC prices seem to be higher than Trading 212. However, they support both underlying asset and CFD cryptocurrency trades in the same interface, which I quite like. I just tried a leveraged purchase of the minimum of $25 of BTC and it worked fine; who knows how long it’ll last.

I also use Coinbase Pro to buy actual BTC and ETH, but I can’t benefit from leverage there. Of course, we soon won’t be able to benefit from leverage anywhere!

I noticed yesterday that Skrill supports cryptocurrency, although I haven’t investigated further.

I’m interested to hear if there are cheaper ways to buy crypto.

1 Like

I wondered if this was a factor too.

1 Like

It’s another day closer to the 01/12/2020 deadline and it’s still not possible for anyone to buy BTC, ETH, etc.

The only explanation I’ve seen is:

If this is true, it’s at the very least very bad timing with only 5 full days remaining before the 01/12/2020 deadline.

@David, can you please confirm that @Team212 have seen the questions in this topic and will eventually respond?

Is this topic in the wrong category?

1 Like