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IG provides directions to traders regarding ban on cryptocurrency CFDs
Electronic trading major IG today provided details to its clients on how the ban on cryptocurrency CFDs in the UK will affect them. As of 6 January 2021, new FCA rules mean that traders will no longer be to trade cryptocurrencies using derivatives like spread bets and CFDs if an IG client is classified as a retail trader. Professional traders, however, can continue trading cryptocurrencies as usual. Professionals are also eligible for lower margin rates, monthly rebates and credit facilities, amongst other features. Clients will be able to open cryptocurrency trades as retail clients with IG until 5 January 2021. ... (full story)
