In this example, after a spread of 8 points is applied – and excluding other costs – the buy (or offer) price is set at 3204, while the sell (or bid) price is 3196. Because you’re going long, you open your position by electing to ‘buy’. Consequently, you decide to take a long position using CFDs. Trading CFDs on cryptocurrencies: ether exampleĪfter completing a thorough analysis on ether price movements, you believe the market will trend upwards from its current level of 3200. Alternatively, open the market’s deal ticket and take the opposite position to one you have open – for example, if you bought CFDs to open, you’d now sell, and vice versa. Select ‘Close position’ and set the number of contracts you’d like to close. When you decide to close a position, click on the ‘Positions’ tab on the left menu. You can utilise measures such as the two-factor authentication (2FA) to ensure you’re secure when trading online. However, trading CFDs comes with a high risk of losing money rapidly due to leverage.
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CFDs are leveraged, giving you full market exposure at a fraction of the initial outlay required when buying actual cryptos. Owing to tight spreads and our fast execution, CFDs enable you to enter and exit trades quickly Our award-winning platform 1 offers cutting-edge HTML 5 charts and a selection of advanced indicators and drawing tools
We work to keep our spreads amongst the lowest in the market As CFDs enable you to take short positions, you can hedge against losses on investments you already hold This means you get to trade without opening an exchange account or creating a wallet With our CFD account, you’ll never own actual cryptocurrencies. Because our prices are based on real markets, in real time, they always reflect actual market sentiment Get prices reflective of the underlying market.We derive our prices from several exchanges, and they’re calculated on a continuous basis When trading cryptocurrencies with us, you can: Although leveraged products can magnify your profits, they can also magnify losses if the market moves against you. CFDs are a leveraged product, which means you can open a position for just a fraction of the full value of the trade. Prices are quoted in traditional currencies such as the US dollar, and you never take ownership of the cryptocurrency itself. With IG, you can trade cryptocurrencies via a CFD account – derivative products that enable you to speculate on whether your chosen cryptocurrency will rise or fall in value. In short, the more volatile the market, the more risk you carry when trading it. However, at the same time, these also increase your exposure to risk. For traders using leveraged derivatives that allow for both long and short positions, large and sudden price movements present opportunities for profit. Cryptocurrencies are notoriously volatile.
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