December 09, 2020 at 09:31AM
The Financial Conduct Authority has introduced a new regulation for all authorised investment firms offering derivatives that reference any crypto assets to retail clients. The new regulation requires firms to cease any marketing activities and the distribution or selling of these products to retail clients by the 6th of January 2021. More information regarding the FCA announcement can be seen here.
How does this affect you?
As you know, FxPro offers several cryptocurrencies for trading via contracts for difference including BTC, BCH, ETH, LTC and XRP. If you are a FxPro UK retail client, we will no longer be able to offer these products to you from the 6th January 2021.
If you currently hold any open positions in any of these products you may remain invested until 10 PM UK time on the 5th January 2021. This is the date we will close all remaining open positions at the last available market price of the day. We will continue to offer these products until the 5th of January 2021, in case you wish to enter any positions between now and then.
Should you require any further information please contact our Customer Support Team 24/5 via email email@example.com, phone at +44 (0) 203 151 5550 or you can use our live chat service.
From: The FxPro Analyst Team https://fxpro.news/brokers-news/important-information-regarding-our-cryptocurrency-offering-20201209/
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