eToro Plans Restriction on Crypto CFDs Trading in France and Australia

Fazzaco learned that eToro, Israel-based multi-asset trading and investing platform, is set to restrict its support for non-leveraged CFD crypto trading in France and Australia.

The company has asked its clients in Australia to close the non-leveraged long positions with such instruments ahead of 19 February. For French customers, the deadline is 21 February.

"From that date, any remaining open long non-leveraged CFD crypto asset positions will be closed at market value," the broker wrote in a notice.

Whereas, eToro will continue to provide physical non-leveraged crypto trading in the two countries. Additionally, the firm will continue to offer crypto CFDs with DASH and ZCASH.

"Since these crypto assets are only available on the eToro platform in France as CFDs, your non-leveraged long CFD DASH and ZCASH positions are NOT included in the positions that can be closed and re-opened as real crypto. Therefore, such positions will not be closed but remain open and unaffected," the company.

At the beginning of January, the German unit of eToro announced​ that the custody of crypto assets for its customers in the country would be handled by Tangany GmbH, a white-label blockchain custody platform based in Germany and regulated by BaFin, effective January 21, 2024.