Leading Contract for Difference (CFD) and spread betting provider, IG Group, is actively marketing bitcoin, bitcoin cash and ether CFD trading to the mainstream. While customers speculate without owning actual cryptocurrencies, IG purchases and sells them to hedge its clients’ positions.
Users can speculate on the price of bitcoin and bitcoin cash against the USD, EUR, and GBP. However, only USD is offered for ether.
Spread bets come in two varieties; Daily Funded Bets (DFBs) and forward bets, IG detailed. The former run for as long as the user wants to keep them open, whereas the latter expire after a set period of time. Therefore, the cost of maintaining a DFB position is levied on the corresponding account each day, whereas the entire cost of a forward bet is taken into account in the spread, IG noted.
Customers speculate without owning actual bitcoins, the company states
Good article, I have used IG in the past for traditional trading but didn't realise they offered CFD's on bitcoin now. Thanks
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