eToro Closes Legacy Crypto CFD Positions, Transfers All to Physical Assets

[kreslik.news]

eToro has sent out an email to clients informing them that all outstanding open positions in crypto assets will be switched to physical holdings with no leverage. The company has undertaken the step earlier this year, deciding to switch away from CFDs on this asset class.

The approach of the social trading provider is consistent with the long-term interest of the industry to provide a viable broking service for clients. A number of brokerages started providing CFDs on cryptocurrencies, but in order to hedge their exposure, the firms have been charging exorbitantly high fees on positions that are held overnight.

Since the ... (read more)