Instruments and markets
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.
Also called: Crypto
GFN’s figure
Cryptocurrency instruments may be traded on GFN accounts where available on the platform. Leverage varies by instrument, and the account's risk limits apply continuously - including at weekends.
In detail
Cryptocurrency,explained
Weekend trading is the property that most affects a prop account: an instrument that moves through Saturday and Sunday can breach a limit at a time when other markets are shut.
Leverage on crypto instruments is typically lower than on forex for the same reason, and spreads are wider.
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.
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.
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.
Leverage
The ratio between the notional size of a position and the margin required to hold it. At 1:50, $2,000 of margin supports a $100,000 position - it changes what you can open, not what you may lose.
Crypto payout
A payout delivered in cryptocurrency rather than to a bank account. It settles independently of banking hours and is common among firms paying traders in markets where international wires are slow.
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.
Also governed by /rules/instruments
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