Hello, and happy new year.
I am a retail client in IG which just stopped allowing trading of crypto currencies. Which provider would you recommend, which allows crypto trading, and is well integrated with Pro Real Time?
Many thanks,
Yanis
Hello Yanis – Can you please elaborate what you mean to say by this ?
Because there’s no response from others, you probably have a problem that I don’t understand, while I really like to understand !
But otherwise my PRT-IG account allows me to trade crypto’s.
Probably I don’t understand your term “Provider” in this context ?
Regards,
Peter
Hi Peter, thanks for your reply.
My PRT-IG account no longer allows me to trade Cryptos. I have a UK based IG account. So I am looking for an alternative to the IG provider that supports PRT.
Many thanks,
Yanus
OK Yanis (Yanus), then it should be easy : arrange for an account through PRT directly, and you will receive an IG account with it, like I have.
It would be my advice to contact PRT support by telephone and ask them about plans to eliminate Crypto’s from the IG “interface” like apparently IG did herself. Or arrange for a refund might that happen soon while the answer was “we can’t tell”.
Watch out : Crypto’s can NOT be traded via PRT-Direct (with IBKR as broker). So it is only the combination of the PRT account with “IG Sponsored”. The start screen of that you can see in the attachment.
Peter, Yanus
The FCA (financial conduct authority = UK regulator) banned all crypto derivatives on Jan 6th:
https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/orders–stops-and-limits/why-can-i-sometimes-not-trade-cryptocurrencies
So I would be very surprised if you can find anyone in the Uk who can do this, and it certainly wouldnt be legal or backed by the FCA, which means you should not trust them.
I also doubt you will get funding anywhere else in europe, maybe if you had a trusted relative in another country is the only option but then money laundering issues.
sounds like best left alone, sadly.
Aha …
OK, from the link you gave (thanks !) :
Any retail client with an IG UK account. So the ban also affects clients who don’t live in the UK, but are contracted to our UK office and therefore regulated by the FCA.
This looks like I can still officially do it. I mean, I don’t think that PRT-Direct is “contracted to the UK office” ?
sounds like best left alone, sadly.
Already for losing 20% in a day. But OK, that is a matter of getting used to (brrr).
There’s always the Crypto 10 Index?
So can you still trade it ?
From the link again :
- Can I still trade the Crypto 10 Index?
No, the Crypto 10 Index is also covered by the FCA’s ban.
Thank you all, looks like indeed a retail client wouldn’t be able to trade cryptos anymore.
Time goes on, but problems remain. Huge thanks for your help. The cause turned out to be the same. Shit happens. I started trading crypto just 3 months ago, so I still need more time to understand how it works. Btw, making money on crypto is probably the best decision I’ve ever made. Actually, those signals XXXXXXXXXXXXX helped me a lot when I only started trading. So, I hope there won’t be any providers who will stop me from making money. Thanks and BW to you all!
@saharabay
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