|Market||Spread*||Margin Rates||Overnight Finance||Hours (AEDT)|
|Bitcoin($)||From $70||From 25%||0.08219%||09:00 Mon - 21:00 Sat|
|Bitcoin($) Mini||From $70||From 25%||0.08219%||09:00 Mon - 21:00 Sat|
|Bitcoin(£)||From £70||From 25%||0.08219%||09:00 Mon - 21:00 Sat|
|Bitcoin(€)||From €70||From 25%||0.08219%||09:00 Mon - 21:00 Sat|
|Bitcoin(AUD)||From A$70||From 25%||0.08219%||09:00 Mon - 21:00 Sat|
* May change due to market conditions.
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Why trade Bitcoin CFDs?
Bitcoin Mini CFD
With our Bitcoin Mini CFD you can trade positions that represent a tenth of a full Bitcoin, reducing the margin amount required to trade. This means:
- As your position value is 10 times smaller, your required margin is 10 times less.
- You trade every $10 price move rather than every $1 price move, reducing your exposure to price volatility.
For example you can trade Bitcoin CFDs as shown below:Bitcoin ($) Mini (per 10) CFD
|Example Buy Price||Mini CFD Trade Size||Value of Position||Margin Requirement (25%)|
|$11,100||1 CFD per $10 move||$1,100||$277.50|
|Example Buy Price||Standard CFD Trade Size||Value of Position||Margin Requirement (25%)|
|$11,100||1 CFD per $1 move||$11,100||$2,775.00|
What is the City Index policy on Bitcoin forking?
In the event that the current bitcoin splits into two, new bitcoins are created, this is known as a hard fork. We will generally follow the bitcoin that has the majority consensus of cryptocurrency users and will therefore use this as the basis for our prices. In addition we will also consider the approach adopted by the exchanges we deal with, which will help determine the action we take.
We reserve the right to determine which cryptocurrency unit has the majority consensus behind them.
As the hard fork results in a second cryptocurrency, we reserve the right to create an equivalent position on client accounts to reflect this. However, this action is taken at our absolute discretion, and we have no obligation to do so.
If the second cryptocurrency is tradeable on major exchanges, which may or may not include the exchanges we deal with, we may choose to represent that value, but have no obligation to do so. We may do this by making the product available to close based on the valuation, or by booking a cash adjustment on client accounts.
If, within a reasonable timeframe, the second cryptocurrency does not become tradeable, then we may void positions that had previously been created at no value on client accounts.
Over periods of substantial price volatility around fork events, and we may take any action as we consider necessary in accordance with our terms and conditions including suspending trading throughout if we deem not to have reliable prices from the underlying market.