New Steam Trade Protection policy
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What happens if I cancel a trade (Trade Reverse)?
If you cancel a trade protected by Steam Trade Protection with a payout scheduled after 7 days, the transaction will be automatically cancelled and the funds will not be paid out.
Cancelling a trade during the Steam hold period is considered a Trade Reverse and leads to the cancellation of the deal. Before confirming the trade, make sure all details are correct — once cancelled, the payment cannot be restored.