RialtoTrade Service Discontinuation

Luka Glogoški
Sep 1 · 2 min read

IMPORTANT: We will discontinue our automated trading services: market making algorithm, crypto basket products, and instant asset exchange as of 15th September 2019.

As the operator of RialtoTrade™ (www.rialtotrade.com) online trading platform, iTrade LTD is registered on the island of Malta as a virtual financial assets (VFA) service provider and is required to submit a licensing application after the transitional period of 12 months ends.

Unfortunately, with the current scale of the business we are unable to meet all of the requirements for licensing under the Maltese Virtual Financial Assets Act. Instead, we will seek to partner with other companies that are pursuing licensing or alternatively seek to license our technology on its own.

User Action Required
This change affects all RialtoTrade.com platform users. You are required to disinvest all assets from the market making algorithm and/or any crypto baskets by 11th September 2019 23:59 CET. After this deadline, all disinvestments will be automatically processed into bitcoin and credited to users’ platform BTC wallet.

User wallet functionalities on the platform will remain normally accessible so that users can withdraw their funds to their preferred addresses at any time. New registrations, deposits and investments will however remain disabled until further notice.

Due to the large expected number and volume of disinvestments we will need two extra days to process them all. There may also be small delays in processing the withdrawals for the same reasons.

Here are the main timelines:

  • All disinvestment orders must be submitted by 11th September 2019 23:59 CET
  • Assets not disinvested by then will be automatically disinvested into bitcoin
  • Withdrawals will be locked on 13th September 2019 15:00 CET
  • Withdrawals will be unlocked on 17th September 2019 (exact time not set)
  • We will aim to process all withdrawals within 6 hours

Exit (disinvestment) fee of 0.5% will be waived, withdrawal fees will remain to cover the blockchain cost of withdrawals (0.01 ETH or 0.0002 BTC).

UPDATE (03/09/2019): If your investment is valued at less than 0.0015 BTC or 0.05 ETH you will not be able to submit a disinvestment order. In those cases we will automatically disinvest your assets into BTC at the end of the current trading cycle and you will be able to withdraw your assets from the 17th September 2019 onward.

IMPORTANT: If you still hold any XRL tokens, exchange them for ETH as explained here.

If you experience any problems logging in please try it in an incognito window on a desktop version of the Chrome browser. More information is available in this support article.

If you have any further questions please contact support via the link in the footer of the platform.

RialtoTrade.com

RialtoTrade.com is a platform with automated algorithms for cryptocurrency arbitrage, market making, and prediction trading.

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