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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

Litecoin trading

Want to take advantage of litecoin volatility? Go long or short on the bitcoin alternative with IG, the world'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

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).

Alternatives to litecoin

  • Bitcoin

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

  • Ethereum

    Take advantage of ether volatility.

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 Based on revenue (published financial statements, October 2023) .

Contact us

Questions about opening an account: +44 (20) 7633 5430 or email: sales.en@ig.com

Existing client questions:
+44 (20) 7633 5431 or email: helpdesk.en@ig.com

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