Admiral Markets UK Posts Changes to Open Crypto CFD Positions

Admiral Markets UK, an award-winning Forex and CFD broker, has sent out a note to retail clients about changes to cryptocurrency CFD trading terms. All open cryptocurrency CFD positions will be set to "close only" starting January 4, 2021, according to the company.

The decision was made after a few months when United Kingdom’s Financial Conduct Authority announced Policy PS20/10, which prohibits the sale of cryptocurrency derivatives to Retail investors in or from the UK effective January 6, 2021. 

Specifically, for Retail client, regardless of your country of residence, beginning January 4, 2021, your open positions in digital currency CFDs will be switched to close-only mode. After this change, you will not be able to open any new positions, or increase existing positions, in any instruments from this group. 

Professional clients of Admiral Markets UK Ltd are not included in this new policy. If you are registered as a Professional client, nothing will change for you. After the policy will come into effect, you can continue trading CFDs on digital currencies on regular terms.

In addition, all the clients can still trade over 3000 other CFDs, including commission-free CFDs on stocks, ETFs, indices, commodities, currencies, and bond futures.