The broker eToro will stop supporting long CFD positions on cryptocurrencies without leverage for traders from Australia on February 19, 2024.

All open long CFD crypto asset positions without leverage will be forcibly closed at market value after the deadline, eToro said.

The broker reminds traders that they can continue or open an equivalent position in real cryptocurrency after February 19, and no fee will be charged. This is due to the fact that the overnight fee is only charged on CFD positions.

In addition, eToro will refund the spread cost of opening a position in real cryptocurrency as part of the original transaction amount if a new trade is opened within 30 minutes of closing the CFD position.

The credit will be credited directly to the trader's account within 8 business days.

If a real cryptocurrency position is reopened, the fee refund will not exceed the amount of the original trade size.

The broker warns that real cryptocurrency is an unregulated product, so it does not provide any investor protection.