Instruments and markets
Bitcoin CFD
A contract for difference tracking the price of bitcoin. It gives exposure to the price move without holding the asset, with no wallet, no custody and no settlement in the coin itself.
Also called: BTC/USD
GFN’s figure
A crypto instrument held over a weekend on a GFN account is still measured against the drawdown floor - $92,000 on a $100,000 2 Step account - and weekend gap risk remains the trader's.
In detail
Bitcoin CFD,explained
A CFD position and a coin holding behave differently in one important respect: the CFD carries financing while it is open, so a long-held position pays for the exposure over time.
Bitcoin's weekend range is the practical risk on a prop account, because the position is monitored against the same equity-based limits at times when there is thin liquidity behind the price.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
Cryptocurrency
Digital assets traded around the clock, offered on most retail platforms as contracts for difference rather than as the asset itself. Volatility is high and it does not pause for a weekend.
Contract for difference
An agreement to exchange the difference in an instrument's price between opening and closing a position. It gives exposure to the move without ownership of the underlying asset.
Swap
The financing charge or credit applied to a position held past the daily rollover. It reflects the interest rate difference between the two sides of the pair and can be positive or negative.
Market close
The end of a trading session for an instrument. Positions held through a close carry gap risk into the next open, and spreads typically widen into the final minutes as liquidity leaves.
Equity-based drawdown
A drawdown measured against live account equity, which includes the unrealised profit and loss of every open position. The breach level can be touched while a trade is still running, before anything is closed.
Ready when you are
Your capital stays yours.The risk is ours.
One evaluation fee, no time limits and up to 90% of simulated profits. Pick an account size and your credentials arrive by email within minutes.
No subscriptions or hidden fees
Payouts every 14 days
$400,000 max total allocation