From February 21, 2024, online broker eToro will no longer support long non-leveraged CFD crypto positions in France.
From that date, any remaining open long non-leveraged CFD cryptoasset positions will be closed at market value. In case you want to close your non-leveraged long CFD cryptoasset positions before February 21, 2024, you may proceed and open an equivalent position in real crypto.
You will no longer be charged overnight fees. This is because overnight fees are only charged on CFD positions.
eToro will be crediting the spread costs incurred to purchase the real crypto position, up to the original trade size amount, as long as you open the new trade within 30 minutes of closing the CFD position. This credit will be added directly to your account within 8 business days.
DASH and ZCASH: Since these cryptoassets are only available on the eToro platform in France as CFDs, your non-leveraged long CFD DASH and ZCASH positions are NOT included in the positions that can be closed and re-opened as real crypto. Therefore, such positions will not be closed, but remain open and unaffected.
To close your current CFD positions and open them as real crypto:
- Login to the eToro platform and go to your portfolio. You will be able to identify your non-leveraged long cryptoasset position(s) held as CFDs by the red CFD symbol next to them.
- Close the relevant non-leveraged long cryptoasset position(s) held as CFDs.
- Immediately reopen an equivalent trade as a long position at 1x leverage. As long as the position is long and unleveraged, it will open as real.
Real crypto is a non-regulated product and carries no investor protections.
These transactions may have possible tax implications. Be sure to contact your tax advisors for more information.
