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Screenshot of a breaking news alert e-mail from Q2 2017
FCA regulated Retail FX and CFDs broker Admiral Markets has just announced that all positions on cryptocurrency CFDs are now open-ended and will no longer expire at 11.00 pm on Friday evening.
In addition to this improvement, Admiral Markets reminded that they’ve recently removed the commission for cryptocurrency CFDs and reduced the financing costs for these instruments to -30% long / +10% short. The leverage of up to 1:5.
Clients should note that trading will be continued according to the current schedule on the 24/5 basis. Admiral Markets will implement this as soon as practically possible.
However, until this term is provided, Admiral Markets will need to impose protective measures against potential negative balances which may be caused by weekend price gaps. Note that CFDs on Bitcoin (BTCUSD) and Ethereum (ETHUSD) will have a pre-close term starting from 22:00 on Fridays with a pre-close leverage of 1:2.
Since positions on cryptocurrency CFDs will be rolled over weekends, from now on, the 3-day financing costs will be charged on Fridays.