Trading cryptocurrencies has evolved beyond traditional exchanges and futures contracts. One powerful alternative is using Contract for Difference (CFD) platforms like IG, which allow traders to speculate on price movements without owning the underlying asset. This guide walks you through everything you need to know about trading digital currencies on IG—covering available assets, order placement, margin requirements, trading costs, and profit/loss calculations—using Bitcoin (BTC) as a practical example.
Whether you're new to CFDs or looking to refine your strategy, this comprehensive walkthrough ensures clarity, safety, and efficiency in your trading journey.
Available Cryptocurrencies on IG
IG offers access to over 17 major cryptocurrencies, all selected for their market liquidity, longevity, and mainstream adoption. These are considered blue-chip digital assets, making them ideal for both beginners and experienced traders.
Popular options include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Solana (SOL)
- Cardano (ADA)
- Litecoin (LTC)
- Dogecoin (Doge)
These assets can be traded 24/7, reflecting the global nature of crypto markets. To find them on the platform, simply navigate to the left-hand menu and click "Cryptocurrencies"—this will display all available CFDs.
⚠️ This content is for educational purposes only. Trading CFDs involves significant risk due to leverage and market volatility. Always conduct independent research before making any financial decisions.
How to Place a Cryptocurrency Trade on IG (Web Platform)
Trading crypto via CFDs on IG follows a straightforward four-step process. While the interface may seem complex at first, it becomes intuitive with practice.
Step 1: Select Your Trading Instrument
Log in to your IG trading platform, then choose the cryptocurrency you want to trade. For this example, we’ll use Bitcoin (BTC).
IG typically lists only one contract size per cryptocurrency—for Bitcoin, it’s **$1 per point** (i.e., each 1-point move equals $1 in value).
👉 Discover how easy it is to start trading crypto CFDs today.
Step 2: Choose Your Position Direction
You have two options:
- Buy (Go Long): Profit if the price rises
- Sell (Go Short): Profit if the price falls
CFDs offer full flexibility—you can short-sell just as easily as going long, allowing strategic opportunities in both bullish and bearish markets.
Step 3: Set Contract Quantity
Enter the number of contracts you wish to trade. Unlike physical ownership, CFDs allow fractional positions. For Bitcoin, the minimum trade size is 0.01 contract.
For instance:
- 0.01 BTC contract = $0.01 per point movement
- 1.00 BTC contract = $1 per point movement
This flexibility lets you control risk exposure precisely.
Step 4: Configure Stop Loss, Take Profit & Execution Type
Finalize your trade setup by setting:
- Stop Loss: Automatically closes your position if the market moves against you beyond a set level.
- Take Profit (Limit): Locks in gains when the price reaches your target.
Order Type: Choose between:
- Close-out Order: Opposite trades cancel existing positions.
- Forced Opening: Allows holding both long and short positions simultaneously—useful for advanced hedging strategies.
Once configured, click "Place Deal" to execute your order.
Understanding Margin Requirements on IG
CFD trading operates on margin, meaning you don’t need to pay the full value of the position—only a percentage upfront. This enables leverage, amplifying both potential profits and losses.
IG uses a tiered margin system, where required margin increases with position size. Here’s an example for Bitcoin:
- 0–15 contracts: 10% margin
- 15–30 contracts: 15% margin
- 30–60 contracts: 30% margin
- 60+ contracts: 75% margin
So, if Bitcoin is priced at $60,000 and you open a 10-contract position ($600,000 exposure), with 10% margin, your required deposit is $60,000.
🔍 Tip: You can view real-time margin requirements by clicking the "Info" tab next to any cryptocurrency in the trading interface.
👉 Learn how margin works and manage your risk effectively.
Trading Costs When Buying Crypto on IG
IG does not charge commissions on cryptocurrency CFD trades. Instead, revenue comes from two primary sources:
1. Spread (Buy/Sell Price Difference)
The spread is the difference between the buy and sell price. It’s built into the quote and represents your main trading cost.
For Bitcoin:
- Minimum spread: 36 points (~0.056%)
- Actual spread varies with volatility (e.g., may widen to 104 points during high news impact)
Since spreads are embedded in pricing, no additional calculation is needed when assessing entry or exit points.
2. Overnight Financing Fee
If you hold a position past the daily cut-off time (usually 10 PM UK time), you’ll incur a financing charge:
- Long positions: Pay interest (cost to hold)
- Short positions: May earn interest (depending on rates)
IG automatically calculates this fee based on interbank rates plus a small markup. You can review the exact formula in IG’s official help section.
3. Additional Costs to Consider
While not specific to crypto, these fees affect overall profitability:
- Currency conversion fees: If your account base currency differs from the trade currency (e.g., AUD to USD)
- Withdrawal fees: $25 per withdrawal on IG
- Bank transfer fees: Vary by institution
- FX conversion during funding: ~0.3% average
These apply across all asset classes but should be factored into long-term trading strategies.
Calculating Profit and Loss: Bitcoin Example
CFD traders calculate gains or losses in points multiplied by value per point.
Let’s say you:
- Buy 0.15 contracts of Bitcoin ($1 per point) at **$51,183.50**
- Sell later at $55,791.70
Here’s how your profit breaks down:
- Price change: $55,791.70 – $51,183.50 = +4,608.2 points
- Value per point: $0.15 (since 0.15 × $1)
- Total profit: 4,608.2 × $0.15 = **$691.23**
No separate deduction for spreads—they’re already included in the entry price.
📌 Note: For longer-term trades, subtract overnight funding charges to determine net profit.
⚠️ According to regulatory disclosures, 71% of retail investors lose money when trading CFDs with this provider. Due to leverage, losses can exceed deposits. Ensure you understand the risks before trading.
Frequently Asked Questions (FAQ)
Q: Is IG regulated for cryptocurrency trading?
Yes. IG is a globally regulated broker authorized by top-tier financial authorities including the UK’s FCA, Australia’s ASIC, and South Africa’s FSCA. This ensures client fund protection and transparent operations.
Q: Can I trade real cryptocurrencies on IG?
No. IG only offers CFD derivatives—you cannot withdraw or transfer actual coins like BTC or ETH. If you want ownership, consider using a dedicated crypto exchange instead.
Q: What happens if my position hits negative equity?
IG operates under negative balance protection for retail clients in many regions. This means you can never lose more than your deposited capital—even during extreme market gaps.
Q: Are there inactivity fees?
Yes. IG charges an inactivity fee of $12 per month after 24 months of no trading activity. Be sure to monitor dormant accounts.
Q: Can I use technical analysis tools on IG?
Absolutely. The platform includes advanced charting tools, over 80 indicators, drawing functions, and real-time price alerts—ideal for technical traders.
👉 Access powerful trading tools and start analyzing markets now.
Final Thoughts
Trading cryptocurrencies via CFDs on IG offers speed, flexibility, and access to leveraged positions across top digital assets like Bitcoin and Ethereum. With clear margin structures, transparent pricing, and robust risk management tools, IG provides a professional-grade environment for active traders.
However, remember that leverage magnifies risk—especially in volatile markets like crypto. Always use stop-loss orders, avoid overexposure, and never trade with money you can’t afford to lose.
By mastering the steps outlined here—from placing your first order to calculating true profitability—you’ll be better equipped to navigate the dynamic world of cryptocurrency CFD trading.
Whether you're aiming to hedge existing holdings or capitalize on short-term swings, understanding how platforms like IG work is essential for modern digital asset investing.
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