Along with the addition of a new instrument, Global forex broker Admiral Markets has made several more announcements following their previous news regarding the possibility of a hard fork in Bitcoin’s blockchain.
The hard fork did happen! Starting from 1 August, 2017, the blockchain has split in two: Bitcoin (BTC) and Bitcoin Cash (BCH) – with the two cryptocurrencies sharing a common history but, from now onwards, a fully independent future.
Second, the margin requirements to the company’s Bitcoin contract have now been returned back to 1:5, as Admiral Markets don’t expect any new events of this scale in the near future.
Third, although this event didn’t resemble a traditional split – as the price of Bitcoin didn’t really drop – some BCH were credited to the company’s balances on the exchange; Admiral Markets will share the value of the received altcoins with everyone who held open positions on BTCUSD at 20:08 EEST on 1 August, 2017, proportionally to the BTC value of your positions.
Admiral Markets presented the brand new Bitcoin Cash cryptocurrency – which immediately became the third most valued cryptocurrency globally by market capitalisation, surpassing Litecoin and Ripple.
- Symbol: BCHUSD
- Leverage: 1:5
- Typical spread, USD: 23
- Contract size, BCH: 10
- Minimum contract size and step, lots: 0.1
- Maximum contract size, lots: 3
- Commission, USD: 0
- Swap (long), interest rate: -10%
- Swap (short), interest rate: not applicable
- 3-day swaps: Friday
- Minimum margin, BCH: 2
- Minimum hedged margin, BCH: 1
- Trading schedule: 24 hourly, 7 days a week.
Admiral Markets also shared that is currently working on enabling the short selling of cryptocurrency CFDs.