Bitcoin trading

Trade on bitcoin price movement with Australia’s No.1 CFD provider,1

Start trading today. Call 1800 601 799 or email newaccounts.au@ig.com. We’re here 24 hours a day, except from 9am to 7pm Saturdays (AEDT).

Contact us: 1800 601 799

Start trading today. Call 1800 601 799 or email newaccounts.au@ig.com. We’re here 24 hours a day, except from 9am to 7pm Saturdays (AEDT).

Contact us: 1800 601 799

Why trade bitcoin CFDs with IG?

Trade on our award winning platform and app2

Rest assured that you’re trading with a FTSE 250-listed provider, with 45 years trading expertise Seize opportunities instantly with alerts by email or push

Automate your trading with our new web-based trading APIs

Talk to our expert team around the clock

Bitcoin trade price comparison

Assuming bitcoin is priced at US$19,000

IG
Plus 500 CMC Pepperstone City Index

Swap

-0.0548% 0.0137% -0.0508% -0.0280% -0.06849% 0.0137% -0.06849% 0.0137% -0.0411% 0.0136%

Typical observed spread

36 47 37 10 35

$1/pt

Long Short* Long Short* Long Short* Long Short* Long Short*

Overnight funding on $1/pt (ex spread)

-$10.41

$2.60

-$9.65 -$5.32 -$13.01 $2.60 -$13.01 $2.60 -$7.81 $2.58

Total cost of round trade held overnight

-$46.41 -$33.40 -$56.65 -$52.32 -$52.32 -$34.40 -$23.01 -$7.4 -$42.81 -$32.42

Total cost of trade held for 1 year**

-$3,835.65 $913.00 -$3,804.25 -$2,223.80 -$4,785.65 $912.00 -$4,758.65 $939.00 -$2885.65 $906.70

Figures are based on a notional value of $19,000 representative of a $1/pt trade size when bitcoin is priced at $19,000. Data is based on analysis of bitcoin offering from prominent AU competitor websites and is correct to the best of our ability as of 2 December 2020. Table for comparative purposes only. Positive figures reflect clients receiving. Spreads may increase if trading bigger sizes. Above data includes the forced expiry for Plus 500 where clients are charged spread to close, and spread to re-open the trade. Data is subject to change.

* Positive values imply clients receive
** Where 1 year is 365 days starting Monday 1st

NB: Plus 500 have forced expiry dates which would result in you paying spread to get back into the trade. This (forced expiry every 60 days) is factored into calculations.

Benefits of trading bitcoin CFDs

Go short or long

Trade on falling or rising bitcoin prices

No exchange account

Get our best prices – which we source for you – from multiple exchanges.

No wallet needed

Get exposure to the bitcoin price without the worries of managing a bitcoin wallet

Access more volatility

Seize opportunity on a market famed for its volatility, even when others are flat.

Bitcoin prices

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Prices above are subject to our website terms and conditions. Prices are indicative only.

How leveraged bitcoin trading works

Bitcoin contracts for difference (CFDs) give you exposure to the bitcoin price without having to actually purchase the underlying asset. This gives you additional confidence because you don’t hold any actual bitcoins, meaning you don’t need to use a wallet to store them.

It is important to remember that when trading CFDs, you are trading on leverage. While this allows you to gain exposure to a large position without having to commit the full cost at the outset, it is important to remember that both your profits and losses are greatly magnified, and your losses could exceed your deposits.

Bitcoin is usually quoted against the US dollar — so when you buy bitcoin on an exchange, you are selling USD and buying bitcoin. If bitcoin’s price rises, then you can sell it for a profit, because bitcoin is worth more USD than when you bought it. If bitcoin’s price falls, then you make a loss.

When you trade bitcoin CFDs with IG, you’re speculating on the same price movements. But instead of taking ownership of bitcoin, you’re can take a long position if you believe that the price will increase in value. As bitcoin’s price increases against the dollar, you will gain a profit. If bitcoin’s price falls, then your position will make a loss.

You can also use CFDs to take a short positions as well. So if bitcoin's price drops, you will make a profit on your short position. Conversely, if bitcoin’s price rises, you will make a loss. Our spreads start at just 40 points. Bitcoin can be traded on all our CFD trading platforms, including on MT4.

You're interested in trading our Bitcoin ($) CFD. Our price is currently 12450 to sell Bitcoin, or 12500 to buy it. This price represents the value of Bitcoin against the USD, and each dollar movement in the price of Bitcoin represents a potential profit of US $1.

You believe the price of Bitcoin will rise from its current valuation, so you buy 25 contracts at 12500 (equivalent to buying 25 bitcoins at $12500 each).

The Bitcoin price rises and our new price is 12550/12600. You decide to take your profit by selling at 12550.

$12550 - $12500 = $50 move or 50 points.

Your gross profit is therefore 25 contracts x $50 = $1250

If the market had dropped to 12400/12450 instead, your gross loss would be $2500.

Open an account now

Open an account now

Fast execution on a huge range of markets

Enjoy flexible access to more than 17,000 global markets, with reliable execution

Trade seamlessly, wherever you are

Trade on the move with our natively designed, award-winning trading app

Feel secure with a trusted provider

With 45 years of experience, we’re proud to offer a truly market-leading service

Open an account now

Open an account now

Fast execution on a huge range of markets

Enjoy flexible access to more than 17,000 global markets, with reliable execution

Trade seamlessly, wherever you are

Trade on the move with our natively designed, award-winning trading app

Feel secure with a trusted provider

With 45 years of experience, we’re proud to offer a truly market-leading service

Start trading now

Log in to your account now to access today’s opportunity in a huge range of markets.

Start trading now

Log in to your account now to access today’s opportunity in a huge range of markets.

FAQs

Back in 2009, an anonymous person or group known as Satoshi Nakamoto created a decentralised digital currency known as bitcoin.

No. With IG you are simply speculating on the price movement of bitcoin ($). You never need to actually own any.

Yes. With our FX pairs you never hold bitcoin in the real sense, so you can take a short view to open on bitcoins.

Yes. You can open your position at the current price, or select your preferred entry point. We also offer a range of stops and limits, including trailing stops that lock in profits and guaranteed stops that can’t suffer slippage.

IG’s bitcoin settlement is based on a combination of real time prices provided directly by some of the world’s most liquid bitcoin exchanges.

Bitcoin (USD) opens at 2pm on Saturday, and is available to trade until 8am on Saturday (AEDT).

Bitcoin cash is a new cryptocurrency. Launched in August 2017 as a result of a split in the bitcoin transaction ledger (known as the blockchain), it operates under a different set of rules to bitcoin, and with a different blockchain altogether.

Learn more about the differences between bitcoin and bitcoin cash.

Bitcoin’s skyrocketing popularity was causing difficulties for the bitcoin mining community, which struggled to keep up with the capacity of transactions. Traders were having to wait an increasingly long time for their transactions to go through, and expected to pay additional fees if they wanted things to move quicker.

Cue disagreement within the community about how exactly to solve the scalability problem. Many miners felt that existing restrictions imposed by the software needed to be revised, while others felt this would disincentivise miners and devalue the cryptocurrency. This ultimately led to a split, or ‘hard fork’, in the blockchain.

Bitcoin forks aren’t uncommon, but there is usually a consensus on which version of the blockchain to discard. On this occasion, however, neither was discarded. This resulted in two tokens: the original bitcoin, and the new bitcoin cash.

This enabled bitcoin cash miners to apply new rules to their mining software and expand the currency’s transaction capacity, among other changes. As such, despite a shared transaction history, the two currencies are now entirely incompatible with one another.

Yes, you can use the MetraTrader 4 (MT4) platform to trade bitcoin against the US dollar. With MT4, you’ll gain access to low latency execution, as well as a number of free apps, indicators and tools.

You might be interested in…

Meet the Australia's No.1 CFD and provider1

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1 Based on revenue excluding FX (published half yearly financial statements, June 2020)