As of February 21, 2024, online broker eToro will no longer support long unleveraged crypto CFD positions in France.
From that date, any remaining open unleveraged cryptocurrency CFD positions will be closed at market value. In case you want to close your unleveraged CFD cryptocurrency positions before February 21, 2024, you can go ahead and open a corresponding 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 credit the margin cost incurred for the purchase of the actual crypto position, up to the original trade 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 cryptocurrencies are only available on the eToro platform in France as CFDs, your unleveraged long CFD DASH and ZCASH positions are NOT included in the positions that can be closed and reopened as real crypto. Therefore, such positions will not be closed, but will remain open and unaffected.
To close your current CFD positions and open them as real crypto:
- Log in to the eToro platform and go to your portfolio. You will be able to identify unleveraged long cryptocurrency positions held as CFDs by the red CFD symbol next to them.
- Close the relevant unleveraged long cryptoasset positions held as CFDs.
- Immediately re-open an equivalent trade as a long position with 1x leverage. As long as the position is long and unleveraged, it will open as real.
Real crypto is an unregulated product and carries no investor protection.
These transactions may have potential tax implications. Be sure to check with your tax professionals for more information.