A cryptocurrency is a form of digital currency created from code that functions autonomously, outside of traditional banking and government systems. You can read more about cryptocurrencies here
Bitcoin is a type of cryptocurrency. It is a digital currency which operates outside the mandate of a central authority, and the first decentralized digital currency to use blockchain technology. You can read more about bitcoin here.
Ethereum is a digital platform which allows users to build a range of decentralised applications. 'Ether' is the digital currency used on the ethereum network. Like bitcoin, ethereum works via a public blockchain network. You can find more information on ethereum in our article.
You can spread bet or trade CFDs on Bitcoin/USD and Ethereum/USD.
On the web-based platform, click on 'Cryptocurrencies', available in the product library. On the mobile app, tap 'More' at the bottom-right hand corner, then tap Cryptocurrencies.
If you're new to CMC Markets, you can apply for a live account by filling in our application form. Please note that you can trade cryptocurrencies with CMC Markets through a spread bet or CFD account. If your application is approved and you've verified your email address and funded your account, you will be able to place your first cryptocurrency trade.
If you're already a CMC Markets client, just click on 'Cryptocurrencies' in the top navigation toolbar on the platform.
You don't need to deposit any funds to open an account with us, but you will need to make a deposit in order to place your first cryptocurrency trade.
We use the internationally accepted security system SSL (Secure Sockets Layer) for all account functionalities, including fund deposits and withdrawals. This system is automatic and you will receive an instant notification if your browser does not support it.
To close or reduce a position, select the red ‘Close Out’ X to bring up an order ticket. To close ‘All’ select ‘X’ on the aggregate row, or to close an individual trade select ‘X’ on the individual position row. To partially close a position, you will need to reduce the ‘Size’ of the trade. The wording at the bottom of the ticket will change to indicate that you are reducing your position rather than closing it.
Yes, cryptocurrencies are available on our demo account.
When you spread bet or trade CFDs, you don't take ownership of the underlying asset, instead you trade on the rising or falling price of the cryptocurrency. Therefore, you don't need a wallet to trade cryptocurrency products with CMC Markets.
The trading hours for cryptocurrencies are 11pm Sunday to 9pm Friday.
Blockchain forks are essentially a split in the blockchain network. Forks occur when the software of different miners disagree over the best way forward for the currency. It’s up to miners to decide which blockchain to continue using. If there isn’t a unanimous decision, this can result in the creation of two versions of the blockchain. There can be periods of increased price volatility around such events. For more information surrounding blockchain forks, read our article.
The price of our cryptocurrency instruments are based on the underlying market. They are made available to us by the exchanges and market-makers with which we trade. In the event of a hard fork, we will generally follow the blockchain that has the majority consensus of cryptocurrency users. We will use this as the basis for our prices. We reserve the right to determine which cryptocurrency unit has the majority consensus. We will endeavour to notify clients of potential blockchain forks. However, it’s ultimately our clients’ responsibility to ensure they find out when these might occur.
More information on our policy here.