XTB has decided to re-launch its offerings on cryptocurrency CFDs, starting with Bitcoin, which will be incorporated back into the trading platform on Monday, January 15.
XTB initially introduced CFDs on cryptocurrencies back in June of last year. At the time, the company , including Bitcoin, Ethereum, Litecoin, Dash, and Ripple. However, the bullish run incurred across much of the top currencies in the crypto industry have created challenges in risk management practices for many CFD brokerages, thereby causing a general .
After assessing the situation, XTB also decided to altogether. At the time, clients who still had open positions in any of the affected assets were left with a close-only feature.
While CFD providers continue to adjust to the new crypto market norms, XTB has apparently addressed their concerns, and has decided to cautiously proceed with Bitcoin CFDs. The client notification message did not mention any updates regarding other cryptocurrencies that were initially implemented by the company. For now, traders will have to settle for trading on Bitcoin CFD through the XTB trading platform.
Revamped Trading Conditions
The re-launch of BTC CFDs will also include updated trading conditions. XTB has reduced the spreads to a standard 1%, while also lowering their swap levels. Overnight swap rates will now charge clients 0.08% and 0.04% per day, for long and short positions, respectively.
Moreover, the maximum exposure per trading account has been limited to 15,000 EUR at any given time. XTB is currently offering a maximum leverage of 5:1. The updated trading conditions are intended to both appeal more to traders, while at the same time offering some risk protection for XTB’s exposure levels, due to potentially sharp price movements. Trading on Bitcoin CFDs will be available almost around the clock, from each Saturday at 04:00, through Friday at 22:00.