eToro closes out European leveraged crypto traders | Crypto Craft

  • eToro closes out European leveraged crypto traders

    From fxnewsgroup.com

    Cryptocurrency news site Coindesk is reporting that eToro (Europe) Ltd, the Cyprus based arm of Israeli Retail FX, CFDs and cryptocurrency broker eToro which serves the company’s EU customers, sent a note out late Friday afternoon to clients that they had about four hours to increase margin to 100% on all crypto CFD positions. Any open positions left with any leverage would be closed out – and indeed many were, as of 21:00 GMT Friday. The move was apparently made as eToro became unable to properly hedge highly levered client positions in Bitcoin, ETH and other cryptocurrencies, with clients being mostly long as ... (full story)

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CBAtrades
Jan 11, 2021 10:52am
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Can they just do that??????
Probably. Most brokers put in the fine print stuff like 'we can close your positions and your account at any time for any reason'. Here they did give some notice even if it wasn't alot. They cant just take your money, but they can close out the position at the market price and give you your money back. Whoever did get closed out should send a big thankyou to eToro -Bitcoin is now way down at around $30K!!
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Trader#4CEC
Jan 11, 2021 6:55am
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Can they just do that??????
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