[image] FCA bans the sale of crypto-derivatives to retail consumers The FCA has published final rules banning the sale of derivatives and exchange traded notes (ETNs) that reference certain types of cryptoassets to retail consumers. So the FCA has banned crypto-d…

T212 will need to announce this and remove access but they have until 6 Jan so no panic just yet. Would be interesting to know how many accounts this affects. What I dont get is how you are meant to transition into being pro to able to continue trading. Are you meant to class yourself as pro taki…

Is this just cfd’s not investing, because im holding some crypto’s on binance?

Yeah it’s just the 9 CFDs we have, basically you can’t have leveraged products and where you don’t own the underlying asset. Owning the actual crypto bought with your own money is still absolutely fine.

@MitchB We’ll issue a statement soon.

one interesting statement I just read on this is: “Retail consumers with existing holdings can remain invested following the prohibition, until they choose to disinvest. There is no time limit on this, and we do not require or expect firms to close out retail consumers positions unless consumers as…

Has this statement been issued yet? I can’t find it.

I’ve just read the new notification about cryptocurrencies published on 25/11/2020 at 20:25, although I haven’t read the contents of the two links yet. It says “on Friday the 27th, 01:00 GMT, we will suspend trading off all cryptocurrencies & liquidate all existing positions at the last available t…

If this is true, it’s is very frustrating for the reasons you stated above. Considering it does not seem to be a FCA requirement to close positions that are already open, just not allow any new positons. To be honest, the whole FCA ruling stinks, but that is a rant for another day.

[image] toms: To be honest, the whole FCA ruling stinks, but that is a rant for another day. I intend to see if I can get in touch with the FCA tomorrow to get their opinion on Trading 212’s actions. “The FCA estimates that retail consumers will save around £53m from the ban on these product…

FCA bans the sale of crypto-derivatives to retail consumers

⚖ Active trading

David October 7, 2020, 10:23am 8

@trader787 We’ll follow the FCA’s guidance and let everyone hold their positions open for as long as they’d like.

Topic		Replies	Views
List of Stocks With Increased Margin Requirements 🤝 Help	52	1829	December 3, 2020
Crypto removed from CFD account 📊 Investing	22	2713	February 16, 2021
Can’t buy crypto 🤝 Help	5	20040	November 25, 2020
Crypto CFD’s no more 📬 Stocks & ETFs requests	12	17666	November 24, 2020
Will the Bitcoin ETP be impacted by the FCA's ban on crypto-derivatives in the UK? 🤝 Help	55	7405	April 23, 2021

FCA bans the sale of crypto-derivatives to retail consumers

Related topics