Important information regarding your account - lot size changes on Cryptocurrency CFDs & more
Dear Trader,
We are writing to inform you that we’re optimising introducing some changes to our offer, including further optimisation of our Cryptocurrency CFD markets.
Please remember these changes will take effect from Sunday 20th August 2017.
1) There will be new instruments specifications for the cryptocurrencies ETHUSD, XRPUSD, LTCUSD and DSHUSD. You can see their new values below:
NEW VALUES:
Instrument Name Nominal value Minimum order Minimum transaction Maximum order
of one Lot size in Lots steps in Lots size in Lots
ETHUSD ETH 1 1 1 500
XRPUSD XRP1 1000 1000 500000
LTCUSD LTC 1 10 10 5000
DSHUSD DSH 1 1 1 500
IMPORTANT: if you have any open position or pending position on the above instruments you should know:
- Any open position you would have by Friday night when closing the market will be closed with a P/L of 0.
- Automatically we will be opening a new position reflecting exactly the same market conditions you had on your previously closed position, taking in consideration the new values highlighted above.
- The opening prices, swaps and P/L will therefore remain the same and the only thing which will change will be transaction ID, lots numbers and the opening date.
- The same will apply for pending orders.
Example
Let’s suppose that You hold 1 lot long on ETHUSD opened on 10th of August at 308.5
The last bid price on Friday the 18th is 320
Your P/L = 115 USD
Your swaps = -9.56 USD
If the position is left open by Friday the 18th, it will be closed by XTB after Friday 18th market close
The P/L and swaps on the closed position will be set at 0 USD
A new position will be opened to replace the old one with the following parameters:
10 lots long ETH opened at 19th of August at 308.5 (reflecting the new instruments specification values)
Client's P/L = 115 USD
Client's swaps = -9.56 USD
The P/L at Sunday the 20th after market opening could change due to potential opening gaps.
2) In addition, we will be introducing amendments on comments under the Instruments Specification Table:
- Forex, Indices and Commodities section (addition of new instruments in comment no 20, added comment no 21):
20. USDILS, USDILS., USDILS.., USDILS+ instruments are available only in "close only" mode.
21. INDIA50, INDIA50., INDIA50.., INDIA50+ instruments are available only in "close only" mode.
- Cryptocurrencies section (change of maximum order size value for given financial instruments)
2. The maximum amount of Client involvement in Open Positions (either long or short) on BTCUSD, ETHUSD, XRPUSD, LTCUSD and DSHUSD on the Account may not exceed 50, 500, 500000,5000,500 lots respectively.
- Swap Points (increase of upper mark-up used to calculation swap points from 10 % to 15 %)
9. Upper limit of mark-up included in deposit rates used by XTB in calculation of swap points stands at 15%. Negative swap points shall be calculated by XTB as cost which is borne by clients and owed to XTB.
If you have any questions or enquiries, please don’t hesitate to get in touch with your account manager or our customer support team at ukservice@xtb.co.uk or call us on +44 20 3695 3085.
Kind regards,
The XTB UK team
