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05 March 2021

U.K Broker I.G. Group Stops Retail Crypto Derivative Trading After FCA Ban

U.K Broker I.G. Group Stops Retail Crypto Derivative Trading After FCA Ban


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The post further urged traders to close all relevant cryptocurrency positions before March 24 at 15:00 local time.After which, IGG will close all positions still open based on the available bid/ask prices. The broker also revealed that it would be increasing its margin requirements in line with the new regulations.

Chief among the criticism is that banning cryptocurrency derivatives would drive retail users to unregulated platforms that will offer less protection than regulated exchanges

The U.K is one of the largest markets of crypto adopters, and it is unlikely that traders will abandon the lure of high rewards on derivatives for other trading options.  Other countries are also contemplating banning cryptocurrency trading with Nigeria recently offering a blanket ban on crypto exchanges and India set to put a strict crypto regulation into law.

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