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Bitcoin product details

Our bitcoin spreads are variable depending on underlying market prices. In most conditions we can usually offer our minimum spread, but when market prices go wider, our spread will increase. In the tables below you will find our minimum spreads and our average spread for a given period:

  • Minimum spread – our tightest possible spread
  • Average spread – the average spread over a given period of time

For each pair we offer a main contract which is equivalent to 100 bitcoins, and a mini contract which is equivalent to 10 bitcoins.

Market

Dealing hours

Value per point

Minimum spread 

Average spread*

Limited risk premium

Margin required

Standard Mini
Bitcoin USD 24 hours $100 $10 10 10.61 10 20%
Bitcoin GBP 24 hours £100 £10 12 13.35 12 20%
Bitcoin EUR 24 hours €100 €10 10 12.35 9 20%
Bitcoin Cash USD 24 hours $100 $10 10 15 15 40%


* Average spread (Monday 00:00 - Friday 22:00 GMT) for the twelve weeks ending 26 June 2017. For our minimum spreads, please see our forex spread bet, CFD and MT4 details.

Bitcoin funding will be charged at 0.0416% daily for any position that is open at 10pm (London time).

Bitcoin cash funding will be charged at 0.0556% daily for any position that is open at 10pm (London time).

Please note that for any position opened before 10pm (London time) Wednesday that is still open after 10pm (London time) Wednesday, the daily interest credit or debit will be made for three days as opposed to one. This three-day adjustment covers settlement of trades over the weekend period. Adjustments will also be made in advance of Christmas and New Year holidays. 

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 bitcoin 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.

Find out more about our charges and fees