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UK User Requirement Update

UK User Requirement Update

Due to certain regulations in the United Kingdom, dYdX Trading Inc. is updating our United Kingdom user requirements.

Starting August 4th at 19:00 UTC, dYdX will only be made available to United Kingdom users who are Investment Professionals as defined in Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (an “Authorized Trader”). New and existing users in the UK who attempt to log in to the services or place an order will be presented with a pop-up modal asking them to confirm their status as an Authorized Trader; users using the protocol APIs to trade will receive a message asking them to go to the trade.dydx.exchange to confirm their status.

Users who meet the definition of and confirm their status as an Authorized Trader will be able to continue to trade as usual. Those users that are not Authorized Traders will have their account placed into close-only mode. Accounts in close-only mode will only be able to enter orders that reduce their positions, and will maintain the ability to withdraw funds from the protocol at any time. Please note that if you are not a resident of the UK and are just traveling in the UK, we recommend that you do not fill out this module, and do not trade while in the UK.

As always, dYdX is committed to providing transparency around product decisions as we pursue our mission to democratize access to financial opportunity. We recognize that these changes may be disruptive to the trading experience and appreciate our users’ understanding as we navigate the shifting regulatory landscape.

This post is subject to our Terms of Use. To learn more about our plans and for the most recent updates regarding dYdX, follow our blog, and join us on Discord and Twitter.

About dYdX

dYdX is the developer of a leading decentralized exchange on a mission to build open, secure, and powerful financial products. dYdX currently runs on audited smart contracts on Ethereum, which eliminates the need to trust a central exchange while trading. We combine the security and transparency of a decentralized exchange, with the speed and usability of a centralized exchange.