Admiral Markets expands its cryptocurrency CFDs offering by adding Bitcoin Cash

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.

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