RoboMarkets to Stop Offering “High Risk” Crypto CFDs

RoboMarkets, a Cypriot broker offering trading services across Europe, announced on Wednesday the termination of its services with cryptocurrency contract for differences (CFDs) to protect its clients from high-risk investment instruments.

The brokerage has been offering digital currency trading for years and currently lists ten crypto CFDs instruments: BTCUSD, BTCEUR, XRPUSD, DSHUSD, LTCUSD, LTCBTC, ETHUSD, ETHBTC, ETHEUR and EOSUSD.

Commenting on the move, RoboMarkets CMO Denis Golomedov said: “We have claimed repeatedly that our priority is protection of clients‘ interests. That is why we have decided to close crypto for our clients. This will help us make the clients’ assets safe from high risks entailed by operations with crypto instruments.”

“We see that large regulators, such as the FCA, have already made steps to limit access of retail investors to cryptocurrencies and expect other European regulators to do the same in the near future,” Golomedov added.