Your capital is at risk. CFDs can result in losses that exceed your initial deposit. Please ensure you fully understand the risks involved.

What are IG's cryptocurrencies CFD product details?

Start trading cryptocurrencies today with Australia's No.1 CFD provider1. You won’t need an exchange account and you’ll enjoy fast, efficient execution on trades.

1 Number 1 in Australia by primary relationships, Investment Trends December 2017 FX Report. Investment Trends August 2017 CFD Report.

Market

Dealing hours [1]

One point means

Minimum spread [2]

Limited risk premium [3]

Margin required  [4]

Bitcoin 24 hours  $1 50 30 15%
Bitcoin Cash 24 hours  $1 12 10 25%
Bitcoin Cash/Bitcoin 24 hours  0.0001 BTC 10 10 25%
Bitcoin Gold 24 hours  $1 1 1 40%
Ether 24 hours  $1 6 5 15%
Ether/bitcoin 24 hours  0.0001 BTC 5 3 25%
Ripple 24 hours  $0.01 0.8 2 25%
Litecoin 24 hours  $1 1.5 2 25%
EOS 24 hours $0.01 12 2 25%
Stellar 24 hours $0.01 0.5 0.5 25%
NEO 24 hours $1 0.5 0.5 25%

Notes to table

1. Cryptocurrencies markets close at 10pm on Friday night (UK time), then reopen on Saturday at 4am (UK time). Please note that your account can go on margin call during the weekends as the cryptocurrencies market is open.

2. Please note that in times of high volatility, our minimum spreads can increase significantly.

3. 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.

4. 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 Get Info section in our dealing platform.

Overnight funding charges
 
Our daily overnight funding rate is currently 0.0347% (12.5% per Annum) for Bitcoin. For Ether/Bitcoin and Bitcoin Cash/Bitcoin the daily funding rate is 0.0208% (7.5% per annum), while for all other cryptocurrency markets it is 0.0556% (20% per annum). At present, clients with a long position will pay this overnight funding rate, while clients with a short position will receive this rate. In addition, an IG admin fee will apply. The IG admin fee is 7.5% per annum for all cryptocurrency markets except for Ether/Bitcoin and Bitcoin Cash/Bitcoin where the fee is 15% per annum.
 
  • If you are long, for Bitcoin you will pay a daily overnight funding charge of 0.0556% (20% per Annum) for positions held at 10pm UK time. For Ether/Bitcoin and Bitcoin Cash/Bitcoin you will pay 0.0625% (22.5% per annum). For all other cryptocurrency positions you will pay 0.0764% (27.5% per-annum).
  • If you are short, for Bitcoin you will receive a daily overnight funding charge of 0.0139% (5% per Annum) for positions held at 10pm UK time. For Ether/Bitcoin and Bitcoin Cash Bitcoin you will pay 0.0208% (7.5% per annum). For all other cryptocurrencies you will receive 0.0347% (12.5% 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 1 contract on Bitcoin , which is currently trading at a price of 7500.

( 1 x 7500 ) x 0.0556% = $4.17

Client will be charged $4.17 funding per day.

Short 1 contract on Bitcoin, which is currently trading at a price of 7500.

( 1 x 7500 ) x 0.0139% = $1.04

Client will receive $1.04 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 cryptocurrencies. 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 cryptocurrencies 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.

There is currently one accepted decentralised ledger which records all cryptocurrencies transactions – as well as an equivalent for ether – called the blockchain. 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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