IG provides a range of cryptocurrency CFD (Contract for Difference) trading options on the MetaTrader 4 (MT4) platform, allowing traders to speculate on price movements of major digital assets without owning the underlying coins. Among these, Bitcoin (BTC) and other prominent cryptocurrencies are available as tradable instruments with specific contract specifications tailored for both retail and professional clients.
This guide explores IG’s Bitcoin MT4 product details, including contract sizes, margin requirements, overnight financing costs, trading availability, and policies related to blockchain forks. Whether you're new to crypto CFDs or refining your trading strategy, understanding these core elements is essential for informed decision-making.
👉 Discover how to start trading crypto CFDs with a trusted global platform.
Core Cryptocurrency Contracts on MT4
IG offers several cryptocurrency pairs on MT4, each with defined contract values and pricing structures:
Key Contract Specifications
| Contract | MT4 Symbol | Contract Size | Value per Point (CFD) | Retail Margin Requirement | Professional Margin Requirement |
|---|---|---|---|---|---|
| Bitcoin/USD | BTCUSD | 1 BTC | $1 | 50.00% | 8.00% |
| Bitcoin Cash/USD | BCHUSD | 1 BCH | $1 | 50.00% | 8.00% |
| Bitcoin Gold/USD | BTGUSD | 1 BTG | $1 | 40.00% | Not specified |
These contracts allow traders to gain exposure to price fluctuations in major cryptocurrencies using leverage—especially beneficial for professional clients who enjoy significantly lower margin requirements.
Please note: During periods of high market volatility, minimum spreads may increase substantially due to liquidity constraints in the underlying markets.
Weekend Trading Availability
The Bitcoin market closes at 7:00 AM AEST every Saturday and reopens at 1:00 PM AEST. Weekend trading is only available for:
- Bitcoin/USD (BTCUSD)
- Bitcoin Cash/USD (BCHUSD)
- Bitcoin Gold/USD (BTGUSD)
This limited weekend access reflects reduced liquidity and increased risk during off-peak hours.
Understanding Overnight Financing Costs
When holding leveraged CFD positions overnight, financing charges apply based on the direction of your trade and prevailing interest rates.
Current Financing Rates
- Bitcoin markets: 0.034% daily (approximately 12.5% annualized)
- Other cryptocurrency markets: 0.055% daily (approximately 20% annualized)
Additionally, IG applies a handling fee of 7.5% per annum on all crypto CFD positions.
👉 Learn how overnight fees impact long-term crypto trading strategies.
How Financing Applies to Your Positions
- Long positions: You pay the overnight financing rate.
- Short positions: You receive the overnight financing rate.
Daily Financing Examples (Bitcoin)
| Position Type | Calculation Example (Price: $7,500) | Daily Cost/Benefit |
|---|---|---|
| Long CFD (Buy) | (1 × $7,500) × 0.0694% = **$5.21** | Pay $5.21 per day |
| Short CFD (Sell) | (1 × $7,500) × 0.0139% = **$1.04** | Receive $1.04 per day |
Note: The higher long rate includes IG’s handling fee.
Tripling Rule on Wednesdays
Positions open past 10:00 PM London time on Wednesday are charged or credited three days’ worth of financing instead of one. This adjustment accounts for weekend settlement when no trading occurs.
Similar adjustments may occur before major holidays such as Christmas and New Year’s Day.
Why Can’t I Trade Bitcoin Sometimes?
There are instances when IG restricts new buy or sell orders for cryptocurrencies, particularly during periods of extreme demand or price volatility.
Exposure Limits and Market Conditions
IG hedges client exposure in the underlying markets, aligning its interests with traders. However, due to operational limits on the total amount of actual digital assets the company can hold, IG imposes a maximum nominal exposure limit of £100,000 per client across all crypto CFDs.
If this threshold is reached:
- New long positions may be restricted.
- Existing positions exceeding the limit could be reduced.
This typically happens when IG reaches its maximum market exposure—especially during surges in buying activity.
Important: These restrictions do not prevent you from closing existing trades. You can always exit open positions even if new entries are blocked.
You can check whether a market is available for long trades via:
- IG Trading App: Tap "Info" on the trade ticket → Select "Other"
- Web Platform: Click the dropdown next to the market → Choose "Get Info"
Refresh regularly for real-time updates.
IG’s Policy on Blockchain Forks
Cryptocurrency markets rely on decentralized blockchain technology. When inconsistencies arise in miners’ software, a blockchain fork may occur—splitting the ledger into two separate chains.
How IG Handles Hard Forks
IG bases its crypto CFD pricing on data from exchanges and liquidity providers. In the event of a hard fork:
- IG will typically follow the chain supported by the majority of the community.
- The company reserves the right to determine which version constitutes the legitimate continuation of the asset.
If a viable new cryptocurrency emerges from a fork:
- IG may create equivalent positions in client accounts.
- It may reflect value through tradable pricing or cash adjustments.
- This action is at IG’s discretion, not an obligation.
However, if the new coin:
- Fails to list on major exchanges within a reasonable time,
- Lacks mining activity or market viability,
Then IG reserves the right to remove worthless positions from client accounts after providing appropriate notice.
During significant fork-related volatility, IG may suspend trading temporarily if reliable pricing cannot be obtained from underlying markets.
Clients are responsible for staying informed about potential forks, though IG aims to provide advance notifications where possible.
Frequently Asked Questions (FAQ)
Q: What does "1 contract = 1 BTC" mean on MT4?
A: Each full contract represents exposure to one whole Bitcoin. For example, buying 1 lot of BTCUSD means your profit or loss changes by $1 for every $1 move in Bitcoin’s price.
Q: Can retail traders access lower margins like professionals?
A: No. Retail clients face higher margin requirements (e.g., 50%) due to regulatory protections limiting leverage. Professional accounts undergo eligibility checks and qualify for reduced margins (as low as 8%).
Q: Why do I pay more to hold a long position than short?
A: Long positions incur borrowing costs since you’re effectively “buying” an asset on margin. Shorts generate interest because you’re selling borrowed value, which the broker can reinvest.
Q: Does IG offer spot cryptocurrency trading?
A: No. All crypto offerings on IG are CFDs—derivative products that let you speculate on price changes without owning actual coins.
Q: How are weekend financing charges calculated?
A: Weekend financing is applied on Wednesday night (tripling effect), so no separate charges occur over Saturday and Sunday.
Q: Will I get free coins if there’s a fork?
A: Not automatically. If a new coin emerges and gains traction, IG may credit client accounts at its discretion—but there’s no guarantee.
Trading cryptocurrency CFDs on MT4 with IG offers flexibility and leverage—but requires awareness of financing costs, exposure limits, and market risks. By understanding these mechanics, traders can better manage their strategies and avoid unexpected disruptions.
👉 Explore advanced tools for monitoring crypto price movements and managing risk effectively.