eToro stops allowing opening of new positions to buy real cryptoassets in Germany
Online broker eToro has announced changes to its crypto offering in Germany.
Due to regulatory developments, from Wednesday 13th September, eToro users in Germany will no longer be able to open new positions in order to buy real cryptoassets. They will instead be able to open CFD positions which at 1x (i.e. no leverage) provide the same market exposure as if the underlying cryptoasset was traded.
For the time being, existing real crypto positions are not affected and existing users can hold or close their positions as they wish.
This decision has no impact on eToro’s ability to enable German users to trade and invest in stocks, ETFs, indices, currencies, commodities and derivative cryptoassets.
eToro stated:
“We are committed to growing our business in Germany and to providing our existing German users with continuity and the best possible customer experience”.