NFA Investor Advisory-Futures on Virtual Currencies Including Bitcoin. This advisory from the CFTC is meant to inform the public of possible risks associated with investing or speculating in virtual currencies or bitcoin futures and options. Customer Advisory: Understand the Risks of Virtual Currency Trading. Please keep in mind that the full process may take 5-6 business days. If you don’t have an account, you need to open an account here. Please note that the approval process may take 1-2 business days. Be sure to check that you have the right permissions and meet funding requirements on your account before you apply. If you have an account with us but are not approved to trade futures, you first need to request futures trading privileges. In addition, clients must receive the CFTC and NFA advisories on virtual currencies provided below. Profits and losses related to this volatility are amplified in margined futures contracts.Īs with any futures product, there are certain qualifications and restrictions before you begin trading crypto futures and micro crypto futures: You must be futures-approved and use a non-retirement account. Their value is completely derived by market forces of supply and demand, and they are more volatile than traditional fiat currencies. dollars or other currencies around the world, but they are not currently backed nor supported by any government or central bank. Virtual currencies are sometimes exchanged for U.S. Please note that virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status. You should carefully consider whether trading in cryptocurrency futures is appropriate for you in light of your experience, objectives, financial resources, and other relevant circumstances. 
Wire transfers are cleared the same business day.įutures products carry unique and often significant risks.
ACH and Express Funding methods require up to four business days for deposits to clear. Please note that the Charles Schwab Futures and Forex LLC margin requirement for bitcoin futures products is 1.5 times higher than the exchange margin requirements, and is subject to change without notice.įunds must be fully cleared in your account before they can be used to trade any futures contracts, including cryptocurrency futures. There are certain qualifications and restrictions: you must be futures approved and use a non-retirement account to trade cryptocurrencies. From there, you will be prompted to open a futures account with TD Ameritrade's affiliate, Charles Schwab Futures and Forex.
To get started, you first need to open a TD Ameritrade account.
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