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

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

Margin Traders Left Unable to Shut Positions

After that day, a Bitfinex representative called "bill_bfx" contacted the Redditor, stating that the issue was "offered to the group to fix for you." Bill_bfx said that "a US corporate client [...] should not be utilizing gross trading," nevertheless, noted that "if you have open positions it is not acceptable to prevent you from closing them." One Redditor submitted "We have had a corporate account with Bitfinex since early 2017 and [are] accepted for the two trade, gross profit, and funding. [...] We have been making 6-figure trades on perimeter and currently have 2 margin positions available. No warning or explanation of our account can't exchange on margin. Yet, we can't handle our perimeter positions. Not great in this volatile market. We have received a few liquidation warning mails as the marketplace dived down. We sent a service ticket [...] and likely over 7 mails. No reply from Bitfinex. It seems that they haven't opened any of the mails."

Released at Wed, 14 Feb 2018 01:55:51 +0000 As of this writing, the next Redditor hasn't received a reply from Bitfinex, despite right questioning bill_bfx concerning the subject on another ribbon. Although Bill_bfx didn't respond to the Redditor's query, though, a day after, Bill_bfx did find enough time to post a humorous response to a trollish comment on exactly the same thread. This past calendar year, Bitfinex announced that it would boost its solutions to U.S. retail customers in November. On the other hand, the firm assured corporate customers that "the restriction affects individuals accounts only" -- as currently stated by the FAQ section of Bitfinex's support portal. In news.Bitcoin.com all comments containing hyperlinks are automatically held for moderation in the Disqus system. That usually means an editor has to take a look to approve it. This is a result of the spam insistent and spam links people post under our posts. We don't censor any comment content according to opinions or politics. Please be patient. Your comment will be published.     Do you believe that more exchanges will proceed to restrict access from U.S. customers? Share your ideas in the comments section below! Multiple worried U.S. corporate customers of Bitfinex have submitted on Reddit after finding that they had been unable to access the exchange's margin trading solutions. Although Bitfinex has indicated that it would no more permit U.S individuals to access the exchange's services, Bitfinex's service portal currently states that the restrictions don't affect U.S. corporate customers. In recent times, several Redditors asserting to be U.S.-based corporate customers of Bitfinex have complained that they have suddenly found themselves unable to access the exchange's margin providers.

Corporate Customers Seemingly Caught Unaware

The Redditor said if his difficulty was solved, he'd update the thread and confessed the response. As of this writing, no sign has been made that the problem has been solved, despite bill_bfx reacting to the Redditor. Pictures courtesy of Shutterstock Still another Redditor submitted "I have been committing on Bitfinex for a little while. Before now, the API responded that US consumers are no more permitted to take or lend any currency denomination [...] I understand that US retail customers cannot use it I think the coverage didn't apply to corporate customers. Has there been a change in policy? Will it be permanent or is that a temporary step?" News