Trade on the price movement of bitcoin with a spread betting or CFD trading account. There’s no need for an exchange account or digital wallet, and you can take a position on both sides on the market. Bitcoin is a high-risk speculative product. High volatility combined with a leveraged trading product could lead to significant losses.
There are several benefits from opening a bitcoin spread betting or CFD trading account
Bitcoin spread bets are free from capital gains tax and stamp duty, while bitcoin CFDs are exempt from stamp duty.
You can opt to ‘buy’ and open a long position or ‘sell’ and short bitcoin. 3
Deposit 50% of the full value of your position to open a bitcoin trade4.
CMC Markets UK is regulated by the Financial Conduct Authority (FCA), registration numbers 173730 and 170627.
Easily deposit or withdraw funds, and avoid the worry and hassle of dealing with an unfamiliar bitcoin exchange.
Speak to a member of our Client Management team 24 hours a day, from Sunday evening through to Friday evening.
1Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.
2Please note, we may, at our sole discretion, restrict your ability to go long or short.
3Learn more about cryptocurrency risks
4When trading using margin any losses will reflect the full value of the position.
5Awarded Best Telephone Customer Service & Best Email Customer Service, based on highest user satisfaction among spread betters, CFD and FX traders, Investment Trends 2019 UK Leverage Trading Report.
|Instrument||Minimum spread*||Margin rate from**||Leverage equivalent||Holding cost|
Bitcoin is usually paired against the US dollar as Bitcoin/USD. This rate indicates the value of bitcoin when measured against the US dollar. Bitcoin is a highly volatile instrument and is our most popularly-traded cryptocurrency.
When you trade bitcoin with us, you open a position to speculate on whether bitcoin’s price will rise or fall relative to the US dollar. If you think bitcoin’s value will rise, you would open a ‘buy’ trade to take a long position in the market. If you think the opposite, you could ‘sell’ bitcoin which is to take a short position in the market.
If your assumption is correct, then your position will gain in value. If it’s wrong, your position will lose value. We recommend taking extra care when trading bitcoin on a leveraged trading platform, as bitcoin and other cryptocurrencies can be particularly volatile. Trading on leverage means your profits and losses are amplified, as your position is based on the full value of the trade. Open either a spread betting or CFD trading account to trade on bitcoin with us – learn more below.
If you are a UK or Ireland resident, you can choose to open a spread betting account to trade on bitcoin price movements. Spread betting is free from capital gains tax and stamp duty. Spread betting is a leveraged financial product, which means you only need to deposit a percentage of the full value of your bitcoin spread bet to open a position. However, this also means any profits and losses are amplified, as your position is based on the full value of the trade.
You can also choose to open a CFD trading account to deal on the price movement of bitcoin. CFD trading accounts are available globally and are free from stamp duty. Additionally, any losses made with a CFD trading account are deductible for tax purposes. Similar to spread betting, CFD trading is also a leveraged product, meaning you only need to deposit a percentage of the full value of the trade to open a position. However, this also means your profits and losses are amplified, as your exposure is based on the trade’s full value.
How to start trading on cryptocurrencies
Complete and submit our straightforward online application form. Apply now
Deposit funds with a debit card, PayPal or bank transfer.
Once you’ve funded your new account, you’re ready to start trading.
Your questions answered
Learn more about trading cryptocurrencies with CMC Markets. Can’t find what you’re looking for? Get in touch
Pricing and costs
How much does it cost to open an account?
There’s no cost when opening a live account. You can also
view prices and use tools such as charts, Reuters news or Morningstar quantitative
equity reports free of charge. You’ll need to deposit funds in your account
to place a trade.
View the full list of cryptocurrencies on the platform
What is the minimum trade size on cryptocurrencies?
You can spread bet from £0.10/point on NEO, £0.05/point on bitcoin, £1/point on ethereum and £0.10/point on ripple. You can see the minimum trade size for all instruments on the platform, in the ‘Product Overview’ under ‘Betting and Position Limits’.
What are the costs of trading on cryptocurrencies?
There are a number of costs to consider when spread betting or trading CFDs on cryptocurrencies, including spread costs, holding costs (for trades held overnight – this is essentially a fee for the funds we ‘lend you’ to cover the leveraged portion of the trade), rollover costs and guaranteed stop-loss order charges (if you use this risk-management tool).
The spread is the key cost involved in spread betting, and is the difference between the buy and sell price of an instrument. The narrower the spread, the better value you receive, because the market only has to move slightly in your favour to offer the possibility of a profit on your trade.
Some trades held open past the end of the trading day (5pm, New York time) are subject to holding costs, which can be positive or negative depending on your trade direction and the applicable holding rate. Overnight holding costs for Bitcoin/USD are 0.0685% on long positions, and minus 0.0137% on short positions. Overnight holding costs for all other cryptocurrencies are 0.0753% on long positions, and minus 0.0274% on short positions.
What are your margin rates on cryptocurrencies?
Margin rates on cryptocurrencies start from 50%. Margin rates show the percentage of the total trade value that you need to put forward to open a position.
Where do your prices come from?
Our automated pricing engine collates and checks thousands of prices per second streamed from our liquidity providers. The most representative price is then used to create the quotes on our platform. Our pricing aims to mirror the underlying market as far as possible. Learn more
Products and accounts
What the risks of trading on cryptocurrencies?
Cryptocurrencies can be particularly susceptible to volatility, so it’s important to understand the risks before you start trading. Learn more about the risks involved in trading on cryptocurrencies.
Why spread betting?
Spread betting allows you to trade tax-free on a wide range of financial markets 24 hours a day, from Sunday nights through to Friday nights. Trade on your phone, tablet, PC or Mac on a wide range of instruments using leverage. Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.
What is leveraged trading?
One of the advantages of spread betting is that you only need to deposit a percentage of the full value of your position to open a trade, known as trading on leverage. Remember, trading on leverage can also amplify losses, so it’s important to manage your risk. Learn more
Is CMC Markets regulated by the FCA?
Yes, CMC Markets plc (registration number 173730) and CMC Spreadbet plc (registration number 170627) are fully authorised and regulated by the Financial Conduct Authority (FCA) in the UK. Retail client money is held in segregated client bank accounts and money held on behalf of clients is distributed across a range of major banks, which are regularly assessed against our risk criteria.
Is CMC Markets covered by the FSCS?
Yes, your eligible deposits with CMC Markets are protected up to a total of £85,000 by the Financial Services Compensations Scheme (FSCS), the UK’s deposit guarantee scheme. If CMC Markets ever went into liquidation, retail clients would have their share of segregated money returned, minus the administrators’ costs in handling and distributing these funds. Any shortfall of funds up to £85,000 may be compensated under the FSCS.
What can I trade?
You can spread bet or trade CFDs on 12 individual cryptocurrencies including bitcoin, bitcoin cash, ethereum, litecoin and ripple, plus a number of other alternative coins. You can also trade on one of our three custom crypto indices, which offer you the opportunity to take a view on a basket of cryptos in one trade. Our crypto indices are All Crypto Index, Major Crypto Index and Emerging Crypto Index.
In addition to digital currencies, you can also trade on a huge range of other markets:
300+ forex pairs – EUR/GBP, EUR/USD, AUD/USD, GBP/USD,
USD/JPY and more
60+ indices – UK 100, Germany 30, US 30, US SPX 500, Australia 200 and more
90+ commodities – including Gold, Brent and West Texas crude oil, Silver, Natural Gas
9,000+ shares – Apple, Netflix, Lloyds, Rio Tinto, BP, Tesco, Amazon, Google and more
30+ treasuries – including UK Gilt, Euro Bund, Euribor, US T-Bond, US T-Note 10 YR
Do you offer a demo account?
If you want to try trading on cryptocurrencies risk-free, you can open a demo account now with just your email address and a password.
Trade on FX, indices, cryptos, commodities, shares and treasuries from a single account.
Access free trading webinars, platform guides, advanced trading strategies and more.
Get the latest economic news and analysis from our global market experts.
*A minimum spread is the lowest spread that will be shown on the given instrument. If the underlying market spread widens throughout the trading day, or you are trading out of hours, the platform spread may also widen. The spreads shown are for the first price available for the average market trade/bet sizes in the relevant instrument. The spread will widen for larger trade/bet sizes; see our platform for more information.
**Spreads, commissions and margins (as applicable) are provided for information only. Please refer to the product overview area of our trading platform for the most up-to-date information including trading hours and spreads