CFDs are a leveraged product and can result in losses that exceed deposits. Trading CFDs may not be suitable for everyone, so please ensure you fully understand the risks and take care to manage your exposure.

What are IG's cryptocurrencies CFD product details?

Start trading cryptocurrencies today with the world’s No.1 CFD provider.* You won’t need an exchange account and you’ll enjoy fast, efficient execution on trades.

* For CFDs, based on revenue excluding FX (published financial statements, February 2018).

Market

Dealing hours [1]

One point means

Minimum spread [2]

Guaranteed stop premium [3]

Retail margin required [4]

Bitcoin 24 hours $1 50 30 15%
Bitcoin Cash 24 hours $1 12 10 25%
Bitcoin Cash/Bitcoin 24 hours $1 10 10 25%
Bitcoin Gold 24 hours $1 1 1 40%
Ether (USD) 24 hours $1 6 5 15%
Ether / Bitcoin 24 hours $1 5 3 25%
Ripple (USD) 24 hours $0.01 0.8 3 25%
Litecoin (USD) 24 hours $1 4 2 25%
EOS (USD) 24 hours $0.01 25 5 25%
Stellar 24 hours $0.01 0.5 0.5 25%
NEO 24 hours $1 0.5 0.5 25%

Notes to table

  1. Cryptocurrency markets close at 10pm on Friday night (UK time), then reopen on Saturday at 4am (UK time).
  2. All prices are based on USD denominated cryptocurrencies
  3. Please note that in times of high volatility, our minimum spreads can increase significantly.
  4. A guaranteed stop premium is charged if your guaranteed stop is triggered. The potential premium is displayed on the deal ticket, and can form part of your margin when you attach the stop. Please note that premiums are subject to change, especially going into weekends and during volatile market conditions.
  5. Please note that tiered margins apply; this means that more margin may be required for larger positions. See our margins page for further details. You can find the tiered margins for each market from the section in our dealing platform.
Overnight funding charges
 
  • Bitcoin
  • Ether
  • Ripple
  • Litecoin
  • EOS
  • Stellar
  • NEO
Our daily overnight funding rate is currently 0.034% for bitcoin (12.5% per annum), and 0.055% for all other cryptocurrency markets (20% per annum). At present, clients with a long position will pay this overnight funding rate, while clients with a short position will receive on the overnight funding rate. In addition, a 7.5% per-annum IG admin fee will also apply for both long and short positions.
 
What will this mean for my positions?
 
  • If you are long bitcoin, you will pay an overnight funding charge of 0.0548% a day (20% per-annum) for any position that is open at 10pm (UK time).
  • If you are short bitcoin, you will receive an overnight funding adjustment of 0.0136% a day (5% per-annum) for any position that is open at 10pm (UK time).
  • Holding a position in our other cryptocurrency pairs would result in you paying an overnight funding charge of 0.0764% when long (27.5% per annum), and receiving an adjustment of 0.0347% when short (20% per annum).
Please note that for any position held through 10pm (London time), we’ll make a daily interest credit or debit adjustment Monday to Sunday. Adjustments to the number of days charged will be made in advance of the Christmas and New Year holidays, to cover settlement of trades over these bank holidays.
 
We review our overnight funding charges frequently, and keep our website and contract details updated with the latest rates.
Overnight funding for long bitcoin position  Overnight funding for short bitcoin position

Long 2 lots on Bitcoin USD ($1), which is currently trading at a price of 15000.

( 2 x 15000 ) x 0.0548% = $16.44

Client will be charged $16.44 funding per day.

Short 2 lots on Bitcoin USD ($1), which is currently trading at a price of 15000.

( 2 x 15000 ) x 0.0136% = $4.08

Client will receive $4.08 funding per day.

Our daily overnight funding rate is currently 0.055% for all cryptocurrency markets (20% per annum). At present, clients with a long position will pay this overnight funding rate, while clients with a short position will receive on the overnight funding rate. In addition, a 7.5% per-annum IG admin fee will also apply for both long and short positions.
 
What will this mean for my positions?
 

  • If you are long, you will pay an annualised overnight funding charge of 0.0764% a day (27.5% per-annum) for any position that is open at 10pm (UK time).
  • If you are short, you will receive an annualised overnight funding charge of 0.0347% a day (12.5% per-annum) for any position that is open at 10pm (UK time).

Please note that for any position held through 10pm (London time), we’ll make a daily interest credit or debit adjustment Monday to Sunday. Adjustments to the number of days charged will be made in advance of the Christmas and New Year holidays, to cover settlement of trades over these bank holidays.
 
We review our overnight funding charges frequently, and keep our website and contract details updated with the latest rates.

Overnight funding for long position  Overnight funding for short position 

Long 10 lots on Ether USD ($1), which is currently trading at a price of 750.

( 10 x 750 ) x 0.0764% = $5.73.

Client will be charged $5.73 funding per day.

Short 10 lots on Ether USD ($1), which is currently trading at a price of 750.

( 10 x 750 ) x 0.0347% = $2.60.

Client will receive $2.60 funding per day.

Our daily overnight funding rate is currently 0.055% for all cryptocurrency markets (20% per annum). At present, clients with a long position will pay this overnight funding rate, while clients with a short position will receive on the overnight funding rate. In addition, a 7.5% per-annum IG admin fee will also apply for both long and short positions.
 
What will this mean for my positions?
 

  • If you are long, you will pay an annualised overnight funding charge of 0.0764% a day (27.5% per-annum) for any position that is open at 10pm (UK time).
  • If you are short, you will receive an annualised overnight funding charge of 0.0347% a day (12.5% per-annum) for any position that is open at 10pm (UK time).

Please note that for any position held through 10pm (London time), we’ll make a daily interest credit or debit adjustment Monday to Sunday. Adjustments to the number of days charged will be made in advance of the Christmas and New Year holidays, to cover settlement of trades over these bank holidays.
 
We review our overnight funding charges frequently, and keep our website and contract details updated with the latest rates.

Overnight funding for long position  Overnight funding for short position

Long 100 contracts of Ripple, which is currently trading at a price of $3.50.

( 100 x 350 ) x 0.0764% = $26.74

Client will be charged $26.74 funding per day.

Short 100 contracts of Ripple, which is currently trading at a price of $3.50.

( 100 x 350 ) x 0.0347% = $12.14

Client will receive $12.14 funding per day.

Our daily overnight funding rate is currently 0.055% for all cryptocurrency markets (20% per annum). At present, clients with a long position will pay this overnight funding rate, while clients with a short position will receive on the overnight funding rate. In addition, a 7.5% per-annum IG admin fee will also apply for both long and short positions.
 
What will this mean for my positions?

  • If you are long, you will pay an annualised overnight funding charge of 0.0764% a day (27.5% per-annum) for any position that is open at 10pm (UK time).
  • If you are short, you will receive an annualised overnight funding charge of 0.0347% a day (12.5% per-annum) for any position that is open at 10pm (UK time).

Please note that for any position held through 10pm (London time), we’ll make a daily interest credit or debit adjustment Monday to Sunday. Adjustments to the number of days charged will be made in advance of the Christmas and New Year holidays, to cover settlement of trades over these bank holidays.
 
We review our overnight funding charges frequently, and keep our website and contract details updated with the latest rates.

Overnight funding for long position  Overnight funding for short position

Long 50 contracts of Litecoin, which is currently trading at a price of $250.
( 50 x 250 ) x 0.0764% = $9.55
Client will be charged $9.55 funding per day.

Short 50 contracts of Litecoin, which is currently trading at a price of $250.
( 50 x 250 ) x 0.0347% = $4.34
Client will receive $4.34 funding per day.

Our daily overnight funding rate is currently 0.0347% (12.5% per Annum) for Bitcoin and 0.0556% (20% per Annum) for all other cryptocurrency markets. At present, clients with a long position will pay this overnight funding rate, while clients with a short position will receive on the overnight funding rate. In addition, a 7.5% per-annum IG admin fee will also apply for both long and short positions.
 
What will this mean for my positions? 
 

  • If you are long, you will pay a daily overnight funding charge of 0.0556% (20% per Annum) for Bitcoin and/or 0.0764% (27.5% per-annum) for other cryptocurrency positions that are open at 10pm (UK time).
  • If you are short, you will receive a daily overnight funding charge of 0.0139% (5% per Annum) for Bitcoin and/or 0.0347% (12.5% per-annum) for other cryptocurrency positions that are open at 10pm (UK time).
  • Please note that for any position held through 10pm (London time), we’ll make a daily interest credit or debit adjustment Monday to Sunday. Adjustments to the number of days charged will be made in advance of the Christmas and New Year holidays, to cover settlement of trades over these bank holidays.

 
We review our overnight funding charges frequently, and keep our website and contract details updated with the latest rates.

Overnight funding for long position  Overnight funding for short position

Long 5 x $1 CFD contracts of EOS, which is currently trading at a price of $6,500.

( 5 x 6500 ) x 0.0556% = $18.07

Client will be charged $18.07 funding per day.

Short 5 x $1 CFD contracts of EOS, which is currently trading at a price of $6,500.

( 5 x 6500 ) x 0.0139% = $4.52

Client will receive $4.52 funding per day.

Our daily overnight funding rate is currently 0.0347% (12.5% per Annum) for Bitcoin and 0.0556% (20% per Annum) for all other cryptocurrency markets. At present, clients with a long position will pay this overnight funding rate, while clients with a short position will receive on the overnight funding rate. In addition, a 7.5% per-annum IG admin fee will also apply for both long and short positions.
 
What will this mean for my positions? 
 

  • If you are long, you will pay a daily overnight funding charge of 0.0556% (20% per Annum) for Bitcoin and/or 0.0764% (27.5% per-annum) for other cryptocurrency positions that are open at 10pm (UK time).
  • If you are short, you will receive a daily overnight funding charge of 0.0139% (5% per Annum) for Bitcoin and/or 0.0347% (12.5% per-annum) for other cryptocurrency positions that are open at 10pm (UK time).
  • Please note that for any position held through 10pm (London time), we’ll make a daily interest credit or debit adjustment Monday to Sunday. Adjustments to the number of days charged will be made in advance of the Christmas and New Year holidays, to cover settlement of trades over these bank holidays.

 
We review our overnight funding charges frequently, and keep our website and contract details updated with the latest rates.

Overnight funding for long position  Overnight funding for short position

Long 5 x $1 CFD contracts of stellar, which is currently trading at a price of $6,500.

( 5 x 6500 ) x 0.0556% = $18.07

Client will be charged $18.07 funding per day.

Short 5 x $1 CFD contracts of stellar, which is currently trading at a price of $6,500.

( 5 x 6500 ) x 0.0139% = $4.52

Client will receive $4.52 funding per day.

Our daily overnight funding rate is currently 0.0347% (12.5% per Annum) for Bitcoin and 0.0556% (20% per Annum) for all other cryptocurrency markets. At present, clients with a long position will pay this overnight funding rate, while clients with a short position will receive on the overnight funding rate. In addition, a 7.5% per-annum IG admin fee will also apply for both long and short positions.
 
What will this mean for my positions? 
 

  • If you are long, you will pay a daily overnight funding charge of 0.0556% (20% per Annum) for Bitcoin and/or 0.0764% (27.5% per-annum) for other cryptocurrency positions that are open at 10pm (UK time).
  • If you are short, you will receive a daily overnight funding charge of 0.0139% (5% per Annum) for Bitcoin and/or 0.0347% (12.5% per-annum) for other cryptocurrency positions that are open at 10pm (UK time).
  • Please note that for any position held through 10pm (London time), we’ll make a daily interest credit or debit adjustment Monday to Sunday. Adjustments to the number of days charged will be made in advance of the Christmas and New Year holidays, to cover settlement of trades over these bank holidays.

 
We review our overnight funding charges frequently, and keep our website and contract details updated with the latest rates.

Overnight funding for long position  Overnight funding for short position

Long 5 x $1 CFD contracts of NEO, which is currently trading at a price of $6,500.

( 5 x 6500 ) x 0.0556% = $18.07

Client will be charged $18.07 funding per day.

Short 5 x $1 CFD contracts of NEO, which is currently trading at a price of $6,500.

( 5 x 6500 ) x 0.0139% = $4.52

Client will receive $4.52 funding per day.

Why can I sometimes not trade cryptocurrencies?

Given the high demand and price increases, we may restrict any new orders to buy or sell cryptocurrency, both online and over the telephone.

As we hedge client exposure in the underlying market, our interests are aligned with yours. However, due to the various risks and complexity involved in trading underlying cryptocurrencies, there's a limit to the total amount of physical cryptocurrency we can hold as a business. We therefore need to reflect this by limiting the exposure that each client is allowed to maintain through CFDs. This limit is currently £250,000 notional (or equivalent) per client across all cryptocurrency holdings. Any client with a notional size above this limit is at risk of having their cryptocurrency positions reduced.

Sometimes our platform won't allow you to open a new long position on a particular cryptocurrency. This happens when we reach our maximum exposure in the market. You'll be able to open a position when our trading volume changes. 

Please note this should not affect your ability to close any existing open positions, provided this does not increase or create net long exposure.

You can check whether or not our cryptocurrency markets are 'unlongable' in the platform. In IG Trading, click the 'information' icon in the deal ticket, then select 'other'. In the classic platform, click on your market's dropdown and select 'get info'. Please refresh your browser for the latest updates.


IG policy on blockchain forks

We base the price of our cryptocurrency products on the underlying market, made available to us by the exchanges and market-makers with which we trade.

Each cryptocurrency coin or token is usually built on a blockchain, which records all peer-to-peer transactions that occur to a decentralised ledger. When the software of different miners becomes misaligned, a split – or 'fork' – in the blockchain may occur. This results in the existence of two different blockchains. 

Generally, cryptocurrency users quickly agree which version to continue to use, causing minimal disruption. The old version of the blockchain is then discontinued.

In the event that one version isn't discontinued – known as a hard fork – we will generally follow the blockchain that has the majority consensus of cryptocurrency users, and will therefore use this as the basis for our prices. We reserve the right to determine which blockchain and cryptocurrency unit have the majority consensus behind them. 

If the hard fork results in a viable second cryptocurrency, we may create an equivalent position on client accounts to reflect this. However this action is at our absolute discretion, and we will have no obligation to do so. If, and when, the second cryptocurrency is tradeable on a major exchange, we will endeavour to represent that value. We’ll do this either by making the product available to close based on the valuation on that venue, or by booking a cash adjustment on client accounts.  If, within a reasonable timeframe, the second currency does not become tradeable on major exchanges or is otherwise deemed not to be viable as a currency (for example, it is not mined), we may delete any positions that had previously been created at no value on client accounts. We will take steps to notify you when we have taken this action.

When a hard fork occurs, there may be substantial price volatility around the event, and we may suspend trading throughout if we do not have reliable prices from the underlying market.

We will endeavour to notify you of potential blockchain forks, however it is your responsibility to make yourself aware of the forks that could occur.

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