Bitcoin trading

Deal on bitcoin price movement with the world’s No.1 CFD and spread betting provider.1

Call 0800 195 3100 or email newaccounts.uk@ig.com to talk about opening a trading account. We’re here 24 hours a day, from 8am Saturday to 10pm Friday.

Contact us: 0800 195 3100


Bitcoin trade price comparison

Assuming bitcoin is priced at $5000
IG
Plus 500 CMC City Index
Headquarters UK Israel UK UK
Founded 1974 2008 1983 1983
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

Take advantage of opportunities in bitcoin when other markets are flat

Remember, when trading bitcoin, you aren't taking ownership. Find out more about how leveraged bitcoin trading works.


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

Live bitcoin prices

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Prices above are subject to our website terms and conditions. Prices are indicative only.


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

Choose the world’s No.1 CFD and spread betting provider1

With more than 40 years in trading and over 195,000 clients around the globe, we’re the world’s No.1 CFD and spread betting provider.1 Why trade cryptocurrencies with anyone else?

FAQs

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.


You might be interested in…

Meet the world's No.1 CFD and spread betting provider1

Get to grips with the basics of how to trade bitcoin with our step-by-step guide

Compare cryptocurrencies against each other and start trading with IG


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.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.