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DANNYM

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About DANNYM

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  1. eToro has wider spread, but does not allow leverage in cryptos, and so doesn't charge daily margin. Worth trying them.
  2. There shouldn't be any expiry, but you need to carefully watch the length of time you remain invested. Remember that you get charged a daily margin rate, and for crypto it is not cheap (0.0416% per day, that is more than 15% cost per annum). While crypto goes up in leaps and bounds, that's ok, but the year btc only goes up 10%, you essentailly book a loss.
  3. So everything has been re-instated. I guess they could have communicated better. The new contracts are essentially US$ based, with a minimum size of $50 for BTC. I think this is hugely bullish for crypto, and especially for BTC, as it enable investors to get exposure for fractions of BTC, similar to a stock split.
  4. I have checked the daily statement that is automatically generated and I am comparing the 31 Dec 17 vs the 01 Jan 18 (I am in Asia timezone). The statement shows a list of trades under Trade Recaps, same underlying (I had several mini-bitcoins) but all different closing prices. Odd... I guess we will have more visibility once they open in Australia. Their helpline is likely to be flooded with calls.
  5. My positions too were only USD, and all got closed at the original opening levels. Some of these had been running for several weeks. I have reviewed the past statements, and the daily FX interest charged has not been refunded. I just hope it is a system error. No one we can talk to until 21GMT today when Asia re-opens
  6. Same problem here. Has anyone verified whether the overnight financing costs have been given back?
  7. Always read the information about the type of contract you buy. The Bitcoin contract (of IG) is a position in 100 bitcoins. You should look at trading the mini-bitcoin contract (which is a position of 10 bitcoins). Therefore, if you want to trade 1 bitcoin on margin, you need to choose the mini-bitcoin contract, and take a position of 0.1
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