eToro Ends Non-Leverage CFD Bitcoin Trades in Australia

The Update

In a major step impacting Australian cryptocurrency traders, eToro, a renowned online trading platform, has stated that it would no longer offer lengthy non-leveraged Contract for Differences (CFD) bitcoin holdings beginning February 19, 2024. This update represents a deliberate shift toward genuine Bitcoin transactions, allowing traders to tailor their trading tactics appropriately.

Starting on the indicated date, all open long non-leveraged CFD positions in crypto assets held by eToro users in Australia will be immediately closed at market rates. However, eToro provides a transition route for people wishing to continue market exposure without paying overnight costs. Traders may cancel their current non-leveraged long CFD crypto holdings and quickly create equal positions in actual crypto assets. Notably, this change removes overnight fees, which are generally imposed on CFD positions, and eToro has agreed to repay the spread expenses for genuine crypto purchases, subject to specific circumstances.

To help with this transition, eToro recommends that traders connect to their site, go to their portfolio, and look for CFD positions indicated with a red CFD sign. After closing these positions, traders may resume identical transactions as genuine crypto with 1x leverage, allowing them to retain their market posture without leveraging.

This policy adjustment demonstrates eToro's dedication to creating a flexible and user-friendly trading environment. The platform's move to allow genuine crypto trading is consistent with the rising desire for physical cryptocurrency investments over derivatives such as CFDs.

About eToro

eToro is well-known for its unique approach to online trading and investing. As a regulated organization, eToro follows stringent criteria to ensure openness, security, and fairness in all its activities. The website is authorized by leading financial authorities, giving users a secure environment in which to trade a variety of assets such as cryptocurrencies, equities, and commodities.

Regulation Status

eToro's dedication to regulatory compliance has reinforced its position as a dependable and safe online broker. The platform is overseen by many financial regulatory authorities, which ensure that international financial rules are followed and that investors are protected.

As the deadline approaches, eToro invites its customers to examine their crypto investing strategy and explore the advantages of real-world cryptocurrency trading. This modification not only complies with legal requirements but also creates new opportunities for investors wanting direct exposure to the cryptocurrency industry.