eToro Warn of Temporary Restrictions Ahead of UK Election

eToro Warn of Temporary Restrictions Ahead of UK Election

eToro has today taken to Twitter to make sure their traders are aware of some measures that will be put in place ahead of the market volatility that the election on Thursday could prompt. This content does not apply to US customers.

Since the Brexit Referendum of 2016, there is no denying that the UK as a country has been in turmoil, which of course has a significant effect on the value of the Great British Pound. As a direct result to this, there has already been an election in 2017 and this week we are due for yet another.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Due to this, the turmoil isn’t over yet and the volatility of the pound is very high. With this considered, CFD and cryptocurrency exchange platform, eToro have taken it upon themselves to put certain sanctions in place to protect themselves and traders from any sharp changes in the market conditions that could cause problems as a result of the election.

The platform has rolled out 2 temporary restrictions that may be put in the build-up and fall-out of the general election on Friday. These are the reduction of leverage levels available, approximately 48 hours before 12th December, and the suspension of the ability to adjust Stop Loss and Take Profit from closing time of markets until markets are reopened (overnight).

These restrictions will be put into place for some of the most relevant to the UK trading instruments – GBP currency pairs, UK100 index, UK Stocks, Crypto/GBP pairs, and Gold. As such, if you have your money placed anywhere in any of these UK-related areas of investment, then these sanctions will likely affect you.

While these are just precautionary measures at this point, limitations to your trading should definitely be noted. You may also want to consider adjusting your assets accordingly some point in the next day or two to avoid being affected by these elements that eToro may put into place.

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