eToro has removed the temporary exposure limits it placed on new gold CFD positions over the weekend after the 30 October sell-off, spokesperson Francesco Tius told Finance Magnates. In the 5 November report, he said trading conditions were back to normal. Neither eToro nor Trade Nation reported execution or pricing problems during the move.
At eToro, stop-losses accounted for 47% of gold-position closures on 30 October, against about 22% on a typical day, with stop-loss closures roughly 200% above normal and the highest in its three-month review. Closed positions exceeded new positions by 12%, while the number of customers closing manually was 13% below normal. Buying and selling were approximately balanced. The broker cannot separate margin-call liquidations from other closures, and silver was outside its review.
UK-user closures remained near normal, and eToro measured gold’s daily fall at about 3% from midnight to midnight UTC. Trade Nation trading head Daniel Pitts said its clients added to long positions during the decline, automatic closures rose only slightly and the broker did not change precious-metal margin requirements. Those are two brokers’ responses and should not be treated as a market-wide client outcome.
Sources: Finance Magnates
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