Products

Types of Cryptocurrencies CFDs:

We are delighted to announce that you can now use the ICM Capital MetaTrader 4 (MT4) platform to trade the cyptocurrency cfd, bitcoin against the US dollar. Cryptocurrencies are virtual currencies which operate independently of banks and governments, but can still be exchanged – or speculated on – just like any physical currency. While there’s a huge number of cryptocurrencies available, we offer trading on the most popular: bitcoin. With the ICM Capital MT4, you’ll gain access to low latency execution, as well as a number of free indicators and tools.

Learn more about Cryptocurrencies CFDs:

Bitcoin is a cryptographically-secured digital currency that operates outside of the mandate of a central authority. It was created in 2009 by the pseudonymous Satoshi Nakamoto, and originally conceived as a method of payment that wouldn’t be subject to government oversight, transaction fees or transfer delay – unlike traditional ‘fiat’ currency. But it both lacks widespread adoption and is currently far too volatile to provide a real alternative to fiat currency: vendors need to revise their prices constantly in response to its swings in value. This means bitcoin is used first and foremost as an investment, resembling gold and other precious metals more than it does traditional currencies. Like commodities, it is beyond the direct influence of a single economy, and largely unaffected by changes in monetary policy. Back in 2010, bitcoins were worth around 0.003 cents each. As of October 2017, that figure is upwards of $4200 – though this value has proved volatile, with frequent intraday swings. In that time, hundreds more cryptocurrencies have emerged, all with unique features and applications.

Trading Example:

You're interested in trading a bitcoin in USD. Our price is currently 2550 to sell bitcoin, or 2560 to buy it.
You believe that bitcoin’s price will fall against the dollar, so you sell 1 contract at 2550 (equivalent to selling 1 “Just one as the contract size is 1” bitcoins at $2550).
The bitcoin price falls and our new price is 2500/2510. You decide to take your profit by buying at 2510.
$2550 - $2510 = $40 move or 40 points
Your gross profit is 40 x $1 = $40.
If the market had rallied 50 points instead, your gross loss would be $50

 

Symbol Description Contract Size Tick Size Tick Value Margin Percent
BTCUSD Bitcoin | 1 USD 1 0.01 0.01 10

i. Swaps will be charged on this product even if a swap-free setting is enabled.
ii. Trading Hours are Sunday 22:05 to Friday 20:55 GMT

Broaden your Cryptocurrencies knowledge

The ICM Capital research team provide market updates on the Cyptocurrency CFDs markets in a daily commentary which can be emailed straight to your inbox. Just fill in the details below to receive our FREE daily report.

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CFDs and Spot FX are leveraged products. Trading CFD's or Spot FX carries a high risk to your capital and can result in losses that exceed your deposits. Read More
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