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Home » Announcements » Litecoin Leverage Update Add New Post

Litecoin Leverage Update

Moderator published on OKCoin Announcements Announcements 2015-01-12 18:58 8347


Recent increased fluctuations in the price of Litecoin are leading to more liquidations, which is having a disproportionate effect on socialized losses. In light of user feedback, OKCoin will suspend 20x leverage on Litecoin futures trading according to the following details:



Following the update, it will not be possible to open positions in fixed margin mode at the 20x leverage rate. All currently held positions at the rate of 20x leverage will be unaffected by the update.



In cross-margin mode, if your “Margin Ratio” is more than 180%, than the open positions will be automatically converted to 10x. If, however, your “Margin Ratio” is less than 180% than the remaining positions will remain unaffected, however you may not open any more contracts. Once all remaining contracts are closed, you can then switch to 10x leverage and resume trading as normal.



After settlement on January 16th all open 20x LTC orders (including Limit orders, and Trailing orders) will be canceled.


This update will be effective as of 08:00 UTC on 16 January, 2015. BTC balances and contracts will not be affected by this update.
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