Bitcoin trade price comparison
|Assuming bitcoin is priced at $5000||
||Plus 500||CMC||City Index|
|Typical observed spread||40||37.98||45||40|
|Long||Short*||Long||Short*||Long||Short||Long & Short|
|Overnight funding on £1/pt (ex spread)||£2.74||-£0.68||£2.41||-£0.85||£3.42||-£0.68||£4.00|
|Total cost of round trade held overnight||£42.74||£39.32||£40.39||£37.13||£48.42||£44.32||£44.00|
|Total cost of trade held for 1 year**||£1040.00||-£210.00||£1143.69||-£44.39||£1295.00||-£205.00||£1500.00|
Figures are based on a notional value of £5000 representative of a £1/pt bet when bitcoin is priced at $5000. Data is based on analysis of bitcoin offering from prominent UK competitor websites and is correct to the best of our ability as of 12 April 2019. Table for comparative purposes only. Values in brackets reflect clients receiving. 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.
* Negative 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 30 days) is factored into calculations.
Bitcoin full product details
Benefits of trading bitcoin
Go short as well as long
Take a position on bitcoin whether you expect it to rise or fall in value
No exchange account
We source our prices from multiple exchanges on your behalf
Pay no tax
Spread bet on bitcoin and pay zero tax on your profits2
Access more volatility
Why trade bitcoin with IG?
Choose a FTSE 250-listed, established provider, and benefit from 45 years’ trading expertise
Preserve your capital with negative balance protection and guaranteed stops3
Open a free account quickly and easily – you could be set up and trading bitcoin today
Get friendly, expert support 24 hours a day from 8am Saturday to 10pm Friday
Open an account now
Fast execution on a huge range of markets
Enjoy flexible access to more than 16,000 global markets, with reliable execution
Deal 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
Get the latest bitcoin news
How leveraged bitcoin trading works
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 buy bitcoin with IG, you’re doing the same thing. But instead of taking ownership of bitcoin, you’re opening a position that will increase in value as bitcoin’s price increases against the dollar. If bitcoin’s price falls, then your position will lose value.
We offer two forms of leveraged bitcoin trading: CFDs and spread bets. You can use both to open short positions as well as long: so if bitcoin's price drops, your position increases in value. Our spreads start at just 50 points. Bitcoin can be traded on all our trading platforms, including MT4.
Bitcoin CFD example
You're interested in trading a bitcoin in USD via a CFD. Our price is currently 2550 to sell bitcoin, or 2560 to buy it.
You believe that bitcoin’s price will fall against the dollar, so you sell 1 contract at 2550 (equivalent to selling 100 bitcoins at $2550).
The bitcoin price falls and our new price is 2500/2510. You decide to take your profit by buying at 2510.
$2550 - $2510 = $40 move or 40 points
Your gross profit is 40 x $100 = $4000.
If the market had rallied 50 points instead, your gross loss would be $5000.4
Bitcoin spread betting example
Our price is currently 2550 to sell bitcoin (USD), or 2560 to buy it.
You believe bitcoin’s price will rise against the dollar, so you buy £25 per point at 2560 (equivalent to exposure an exposure of £25 at a price of 2560 = £64,000).
The bitcoin price climbs and our new price is 2600/2610. You decide to take your profit by selling to close at 2600.
$2600 - $2560 = $40 move or 40 points
Your gross profit is 40 x £25 = £10004
What is bitcoin?
Back in 2009, an anonymous person or group known as Satoshi Nakamoto created a decentralised digital currency known as bitcoin.
Do I need a bitcoin wallet to trade bitcoin markets with IG?
No. With IG you are simply speculating on the price movement of bitcoin ($). You never need to actually own any.
Can I short bitcoin with IG?
Yes. With our FX pairs you never hold bitcoin in the real sense, so you can take a short view to open on bitcoins.
Do you offer advanced order types?
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.
How are IG's bitcoin settlements derived?
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.
When are your bitcoin markets available?
Bitcoin (USD) opens at 4am on Saturday, and is available to trade until 10pm on Friday.
(London time) (market holidays permitting).
What is bitcoin cash?
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.
How did bitcoin cash come about?
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.
Can I trade bitcoin on the MetaTrader 4 platform?
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.
1 Based on revenue excluding FX (published financial statements, February 2018).
2 Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.
3 Negative balance protection applies to trading-related debt only, and is not available to professional traders.
4 Excludes any daily funding charges.