Connect with us

Finance

RoboMarkets Closes Trading CFDs On Cryptocurrencies

RoboForex and RoboMarkets jointly win 2 International Awards at the 9th edition of Global Brands Magazine Awards

RoboMarkets, a company providing financial services to European clients, informs that it will no more provide trading services for crypto CFDs. This decision has been made in order to protect the company’s clients from high risks existing in the crypto market.

On March 24th, between 12:00 and 13:00 server time all positions in BTCUSD, BTCEUR, XRPUSD, DSHUSD, LTCUSD, LTCBTC, ETHUSD, ETHBTC, ETHEUR, EOSUSD will be closed by current quotations.

Denis Golomedov, CMO at RoboMarkets comments the decision: “We have claimed repeatedly that our priority is protection of clients’ interests. That is why we have decided to close crypto for our clients. This will help us make the clients’ assets safe from high risks entailed by operations with crypto instruments“.

On January 6th, 2021, the UK Financial Conduct Authority (FCA) officially banned selling to individual clients derivatives and exchange traded notes (ETNs) based on certain types of crypto assets.

We see that large regulators, such as the FCA, have already made steps to limit access of retail investors to cryptocurrencies and expect other European regulators to do the same in the nearest future. The crypto market is rather toxic and connected to high risks, quite often neglected by retail investors. The growth of the crypto market and the hype around this segment can lead to a serious disturbance among retail investors and brokers in 2021“, adds Denis Golomedov.

About RoboMarkets

RoboMarkets is an investment company with the CySEC license No. 191/13. RoboMarkets offers investment services in many European countries by providing traders, who work on financial markets, with access to its proprietary trading platforms. More detailed information about the company’s products and services can be found at robomarkets.com.

Media contacts:

Timofey Zuev, PR Manager at RoboMarkets

E-mail: t.zuev@robomarkets.com

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Text Translator

Awards Ceremony

Click on the Image to view the Magazine


Global Brands Magazine is a leading brands magazine providing opinions and news related to various brands across the world. The company is head quartered in the United Kingdom. A fully autonomous branding magazine, Global Brands Magazine represents an astute source of information from across industries. The magazine provides the reader with up- to date news, reviews, opinions and polls on leading brands across the globe.


Copyright - Global Brands Publications Limited © 2024. Global Brands Publications is not responsible for the content of external sites.

Translate »