According to a recent Reddit post, Binance would reportedly not be providing its margin trading services to the customers from the USA and a number of other regions. A user nicknamed Lifofifo posted the news and stated the following:
“Today, I found the actual UI for it all. Take a look at it yourself – https://beta.binance.com/en/trade/BNB_BTC It seems the margin trading is very imminent. Margin trading WILL NOT be available to US accounts.”
Notably, the service will be unavailable for accounts not only in the United States of America but also in Iran, Cuba, Crimea, and North Korea.
The exchange had confirmed the rumors of launching a margin trading platform by unveiling its new interface on its social media. However, the exchange is yet to make an official announcement on the cryptocurrencies that would be available on it. So far, based on the Reddit post, the exchange’s API has enabled margin trading flag for BTC/ USDT, BNB/ BTC, BNB/ USDT, ETH/ BTC, ETH/ USDT, TRX/ BTC, TRX/ USDT, XRP/ BTC, and XRP/ USDT.
A number of users note that Binance will take a significant share of the margin trading market from Bitfinex and Bittrex.
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