WHAT IS CRYPTOCURRENCY?
A cryptocurrency is digital money, and is often seen as an alternative to what is known as fiat currency. The supply of virtual currencies is tightly controlled by the underlying algorithm. For this reason, a cryptocurrency can be compared to valuable commodities.
Please note that Cryptocurrencies CFDs are prone to huge price movements in value. You can take advantage of this volatility by trading Crypto CFDs with CMX – without the need for a digital wallet or trading on a cryptocurrency exchange.
HOW DO CRYPTOCURRENCIES WORK?
Blockchain is the technology that brings cryptocurrencies into play. It is a chain of digital blocks that contain records of all transactions that have ever taken place. The blocks are linked to one another and secured through cryptography.
Any transmission of a digital coin is instantly recorded on a public ledger, with every user being able to keep track of their transactions with a unique pair of public and private key.
RISKS RELATED TO CFDS ON CRYPTOCURRENCIES
Cryptocurrencies such as Bitcoin are much more volatile than traditional currencies and carry significant risks. Please also note that you won’t own or have any rights in the underlying currency when you trade with CMX. The cryptocurrency market is volatile so rapid movements in price could see you lose significant amounts of money very quickly.
The underlying crypto markets are open over the weekend.
Stop losses, take profits and pending orders to open on Bitcoin, Bitcoin Cash, Ethereum, Ripple and Litecoin positions can be triggered during our weekend trading times.
Market depth is limited to what is available in the order books of such exchanges which are not regulated and do not provide the relevant protections.
Market data and price feeds are subject to disruptions because of the internal rules of these exchanges or their pricing engines.
Blockchain technologies, which are the backbone of crypto currency systems, are subject to regulatory bans, hard forks, the activities of hackers, mining cartels and other malicious actors, which may cause further market disruption.
Digital exchanges may introduce trading suspensions or other actions that could result in cessation of trading on such exchanges and/or the price and market data feed becoming unavailable. By trading CFDs in Crypto currencies you accept that where trading ceases and then resumes again at either the relevant initial digital exchange or on any successor exchange thereof, there may be significant price differential which may impact the value of your CFD positions in the relevant Crypto currencies and result in significant gains or losses.
|Symbol||Lot||Av. Spread (points)||Commission||Swap(Long)||Swap(Short)||Leverage|
Swap rates are calculated based on the relevant interbank rate. The operation takes place at 00:00 (GMT+3 time zone, please note that DST may apply).
From Friday to Monday the swap for three days is charged.
The margin requirement for CFDs is calculated as follows: Lots * Contract Size * Opening Price * Margin Percentage and is not based on your trading account leverage.
Please note that execution on Cryptos is Instant.
50% of margin is required for hedged CFD positions.