Litecoin trading

Want to take advantage of litecoin volatility? Go long or short on the bitcoin alternative with IG, Australia's No. 1 CFD provider.1

Why trade litecoin CFDs with IG?

  • Go short as well as long

    Think litecoin’s price is headed down? Open a short position.

  • No exchange account needed

    We source prices from multiple exchanges on your behalf.

  • Trade on leverage

    Trade litecoin without tying up lots of capital.

  • Improved liquidity

    So there's more chance of executing your full trade at your chosen price.

What is litecoin?

Litecoin (LTC) is a cryptocurrency, similar in lots of ways to bitcoin. Charlie Lee, the founder of litecoin, even based it off the older currency’s source code – and said he intended litecoin to be ‘silver to bitcoin’s gold’. 
 
However, there are two key differences between litecoin and bitcoin: 
 
  • Litecoin is mined faster than bitcoin, which makes transfers quick and cheap
  • Litecoin’s supply cap is 84 million coins, four times that of bitcoin

Litecoin trading costs and details

See our litecoin spreads, dealing hours and margins in our help area: 

How does leveraged litecoin trading work?

Buying (or ‘going long’ on) litecoin contract for differences (CFDs) can share similarities to buying LTC on an exchange; your position will increase in value as litecoin’s price increases (usually against the US dollar). However, there are also several key differences between the two.

Firstly, when you open a leveraged litecoin trade, you aren’t actually taking ownership of any cryptocurrency. Instead, you’re speculating on the direction in which its price is headed. So you don’t need an exchange account to get started, and you can open short positions as well as long ones.

Secondly, you don’t have to put down the full value of a leveraged litecoin position upfront – just a deposit known as 'margin'. While that makes leveraged trading a powerful tool, it also makes it risky. If your position moves against you, it can even mean that you risk losing more than your original deposit.

Litecoin CFD example

You buy 15 litecoin CFDs when it’s trading at $300. Our buy price is 305 and our sell price is 295.

Buying 15 litecoin CFDs at 305 is the equivalent of buying 15 litecoins for $305 each, giving you a total exposure of 15 x $305 = $4575.

Litecoin’s price rises 40 points to $340, and our price is now 345 to buy and 335 to sell. You close your position by selling 15 CFDs at 335.

335 – 305 = 30, meaning your position has moved 30 points. Your gross profit is 15 x 30, or $450.

If you’d shorted litecoin, you would have lost $750 (40 points plus ten points from the spread).

Open an account now

There's no minimum balance to open an account, it takes less than five minutes, and there's no obligation to fund or trade.

Alternatives to litecoin

  • Bitcoin

    Go long and short on the world’s first cryptocurrency.

  • Ethereum

    Take advantage of ether volatility.

  • Ripple

    What does the future hold for XRP? Take your position with IG.

FAQs

Can I short litecoin with IG?

Yes. When you trade litecoin with IG you are speculating on price movements instead of buying and holding LTC, so you can open short positions as well as long ones.

Where do you get litecoin prices from?

We source our litecoin prices from a combination of the world’s most liquid exchanges, and then offer you the best available price.

Do you offer advanced order types?

Yes. As well as trading litecoin at the current price, you can select your preferred entry level. You can also add stops and limits to your positions to manage your risk or lock in profits.

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

Contact us

We're here 24hrs a day from 5pm Saturday to 7am Saturday (AEST).

1800 601 799

You can also call +61 (3) 9860 1799, email helpdesk.au@ig.com or tweet us at @IGClientHelp