U.S. Corporate Customers Barred From Bitfinex’s Margin Markets

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U.S. Corporate Customers Barred From Bitfinex’s Margin Markets

February 14, 2018 News 0

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Multiple concerned U.S. corporate customers of Bitfinex have posted on Reddit after discovering that they were unable to access the exchange’s margin trading services. Although Bitfinex has previously indicated that it would no longer allow U.S individuals to access the exchange’s services, Bitfinex’s support portal currently states that the restrictions do not affect U.S. corporate customers. Also Read: U.S. Regulators Send Tether and Bitfinex Subpoenas Bitfinex Restricts U.S. Corporate Account Holders From Accessing Margin Markets In recent days, several Redditors claiming to be U.S.-based corporate customers of Bitfinex have complained that they have suddenly found themselves unable to access the exchange’s margin services. Last year, Bitfinex announced that it would terminate its services to U.S. retail customers in November. However, the company assured corporate customers that “the restriction affects individuals accounts only” – as currently stated by the FAQ section of Bitfinex’s support portal. Margin Traders Left Unable to Close Positions One Redditor posted “We’ve had a corporate account with Bitfinex since early 2017 and [are] approved for both exchange, margin, and funding. […] We’ve been making 6-figure trades on margin and currently have 2 margin positions open. On Feb 7th, […] we were locked out of margin trading. No explanation or warning of why our account can’t trade on margin. Worst yet, we can’t manage our margin positions. Not good in this very volatile market. We’ve received a couple of liquidation warning emails as the market dived down yesterday. We sent a support ticket […] and probably over 7 emails.…
Source: U.S. Corporate Customers Barred From Bitfinex’s Margin Markets


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