As Binance constantly evaluates its product and service offerings to comply with local regulations, we will cease offering the following products to South African users:
- Futures
- Options
- Margin
- Leveraged Tokens
With immediate effect, South African users will be restricted from opening new accounts for these products.
Users will have 90 days to reduce and close their positions for these products. Users will be able to top-up margin balances to prevent margin calls and liquidations, but they will not be able to increase or open new positions.
Users will no longer be able to manually reduce or close their positions after 6th January 2022 11:59 PM (UTC). Thereafter all remaining open positions will be closed.
Our aim is to create a sustainable ecosystem around blockchain technology and digital assets. Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators. We are committed to working constructively in policy-making that seeks to benefit every user.
Risk warning: Trading carries substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movements. The information here should not be regarded as financial or investment advice from Binance. All trading strategies are used at your discretion and your own risk. Binance will not be liable to you for any loss that might arise from your use of Futures. To learn more about how to protect yourself, visit our Responsible Trading resource page.
Thanks for your support!
Binance Team
2021-10-08
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.