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About the new Binance 100x Limitation

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Cryptocoins Exchanges / Binance 308 Views

Hey,

Binance.com has published the following message about a new leverage limitation. My question is, what is going to happen to an account of more than 30 days?

????

Important note: Effective July 19th, 2021, Binance Futures will introduce leverage limits for users with registered futures accounts of less than 30 days. The following leverage limits will apply:

From the effective date, new users with registered futures accounts of less than 30 days will not be allowed to open positions with leverage exceeding 20x.

The new leverage limits will also apply to existing users with registered futures accounts of less than 30 days:

Users with open positions of less than 20x leverage will not be allowed to adjust their open positions beyond 20x leverage.

Users with open positions of more than 20x leverage may choose to maintain their position leverage but will not be allowed to increase their position leverage further. They will only be allowed to deleverage their open positions to 20x and below.

For new users with no open positions, all new positions must not exceed 20x leverage.

Leverage limits for new users will gradually increase only after one month from registration.

Source: https://www.binance.com/en/support/faq/360033162192

submitted by /u/JokerStriker
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