Discover how to trade litecoin, as well as how litecoin works, what moves its price and whether you’ll need to buy and sell the cryptocurrency on an exchange.
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Sign up for our free three-part cryptocurrency guide.
The brief but exciting history of cryptocurrencies
The factors that drive cryptocurrency prices
The differences between trading physically and on leverage
How to get started with IG
You’ll need a leveraged trading account to start speculating on litecoin via CFDs or an exchange account to buy it in the open market. Getting an exchange account can be problematic – sometimes taking days to open, and without the infrastructure needed to respond to support requests quickly.
Opening an IG trading account takes minutes, and you can chat to one of our dedicated experts 24 hours a day Monday to Friday if you have any problems. Once your account is open, there’s no obligation to fund or trade.
A comprehensive trading plan is a great way of taking the emotion out of your decisions, setting out the trades you should make as well as when to take profit or cut losses. Here are five steps that you can follow to create a trading plan:
Before you open your first position, you’ll want to make sure that you are up to date with all the latest litecoin developments. Take a look at what our dedicated team of market experts has been saying about cryptocurrency in our news and analysis section – or if you’ve opened an account, read the latest updates in My IG.
You might also want to consider running some technical analysis on litecoin. The charts in the IG Trading platform come equipped with a range of indicators to help you identify trends, and plan your first trade accordingly.
Now it’s time to open your first position. With IG, you can trade litecoin using a variety of platforms, including:
Do I need an exchange account to trade litecoin?
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.