Alpari, a European forex broker, announced on Friday that its clients would be able to trade cryptocurrencies on weekends starting October 2, 2021. According to an email sent to the customers, trading on cryptos CFDs will not be limited to weekdays anymore.
However, this feature does not apply to PAMM accounts due to ‘specific features of this type of account,’ the brokerage noted. “For this reason, on September 27, 2021, cryptocurrency instruments (including open positions on them) on PAMM accounts will be renamed (for example, BTCUSD will become BTCUSDp),” Alpari clarified.
Moreover, the European forex broker told its clients that new crypto CFDs would soon be available on Alpari’s offering. During this week, the firm notified customers that trading conditions could be affected due to Evergrande Group’s turmoil in China, leading to a possible extreme market volatility, price gaps and abnormal gaps.
Bitcoin vs. Gold: Which is a Better Buy this Fall?Go to article >>
That said, Alpari warned users it could take measures such as switching to close-only mode on trades, adjusting leverage, certain trading restrictions and increasing spreads. “We strongly recommend that you take the above risks into consideration when planning your trading strategy and ensure that you have sufficient funds in your account to cover your open positions. This also includes ‘hedged’ positions which, in case of spread increase, face the possibility of a Stop Out,” the broker noted.
Trading Conditions on Cryptos CFDs
On September 19, Alpari announced that trading terms and conditions for cryptocurrencies would be changed due to some changes performed on the part of liquidity providers. It included that the swap will be charged as a percentage, and when positions are rolled over from Friday to Monday, the broker will charge a triple swap rate.
Furthermore, in mid-June, the European forex broker stated that its CFDs offerings were available on standard.mt4 and standard.mt5 accounts, where clients could trade the following assets: WTI, BRN, ASX200, CAC40, HSI50, NG, NQ100, STOXX50, DAX30, FTSE100, IBEX35, NIKK225, SPX500, WallSt30, BTCUSD, LTCUSD, ETHUSD, XRPUSD and XBNUSD.