New feature! Negative balance protection plus other important information
Dear Customer,
We’re writing to let you know that we are making some important changes to our service including the roll out of new features designed to give you even greater protection during periods of high market volatility.
From Sunday 1st October 2017 all accounts will have a negative balance protection feature, meaning your trading losses cannot exceed your account balance. This change, alongside our existing 30% margin close out feature, is designed to give you greater protection during volatile markets, so you can trade with the understanding that you cannot go into a negative balance, you should remember however that should your positions move against you, you will still be able to lose all of the funds deposited into your account
In addition and to reflect the above, we are making some changes to our terms of business, risk warning notice and market specification table regarding the maximum exposure on Cryptocurrencies.
The changes to the Table of Specification are as follows:
Change of comment no 2 (Section Cryptocurrencies) to the following:
2. The maximum amount of Client involvement in Open Positions (either long or short) on BTCUSD, ETHUSD, XRPUSD, LTCUSD and DSHUSD may not exceed 100000 EUR, 75000 EUR, 30000 EUR, 30000 EUR, 30000 EUR respectively.
Summary of changes:
Negative balance protection - new feature to begin from Sunday 1st October 2017
Up to €100,000 maximum exposure on Cryptocurrencies (long or short) across all accounts, not per account
Terms of Business - updated, takes effect from 1st October 2017
Risk Warning Notice - updated, takes effect from 1st October 2017
Specification table - updated as stated above, takes effect from 23rd September 2017
You should have received an email with all the highlighted changes and new documentation affecting the Terms of Business and Risk Warning Notice. Please check your email inbox or spam in case you haven’t seen it. If for any reason, you have not received our notification please contact our Customer Support Team or your account manager.
If you have any other questions regarding these changes, please do not hesitate to get in touch with our Customer Support Team on 020 3695 3085 or email us at ukservice@xtb.co.uk. If you do not wish to opt into these changes, please contact us to close your account.
Kind regards,
The XTB UK team