Bitcoin price volatility prompts IG to review minimum trade size

Maria Nikolova

The broker has scaled the price down by a factor of 100 and has changed the minimum trade size from $/£0.05 per point to $/£5 per point.

The recent surge in Bitcoin prices has prompted electronic trading expert IG Group Holdings plc (LON:IGG) to change the trading conditions for the virtual currency.

The company has scaled the price down by a factor of 100: this means that a price of 293940 is now 2939.4. As a result of this, IG has also reviewed the minimum trade size, which is now $/£5 per point. In the previous pricing, this would have been the equivalent trade size of $/£0.05 per point.

The reason for the change, IG’s team explains, is simply that Bitcoin prices have gone up so steeply since the company started to offer it, and its volatility is at such a level that the trade sizes needed to be adjusted.

IG offers its clients to deal on Bitcoin currency pairs as CFDs or spread bets: instead of purchasing bitcoins, traders can speculate on their value as a forex pair. IG’s Bitcoin settlement is based on a combination of real-time prices provided directly by bitcoin exchanges.

Bitcoin markets are available from 8am on Sunday through to 10pm on Friday (London time).

To access Bitcoin FX pairs, traders may use the new IG Trading platform and/or the classic platform. In the new IG Trading platform, the Bitcoin instruments can be found under ‘FX’ in the fly-out menu. Also, traders can simply type ‘bitcoin’ in the search bar. On the classic platform, one has to go to ‘forex’ in the finder and, then, select ‘virtual FX’.

The recent Bitcoin price volatility, accompanied by the warmer attitude of regulators towards the crypto-currency, has prompted some online trading companies to enter into the virtual currencies businesses. The latest example comes from Japan, where GMO Internet Inc. (TYO:9449) launched its crypto-currency exchange business Coin on May 31, 2017.

However, many are asking what’s underneath the Bitcoin price steep increase. An interesting view has been provided to FinanceFeeds’ readers by Paul Orford, Head of Institutional Sales at AMB Prime. He has drawn a comparison between the current Bitcoin situation and the “Tulip Mania” that engulfed the Netherlands in the 17th century.

Read this next

Institutional FX

Appital launches liquidity creation functionality for buyside

“In today’s fragmented market, the likelihood of having natural market contras at size, in multiple days ADV, which also match price ambitions, is incredibly unlikely. What’s more, matching technology alone is no longer enough.”

Crypto Insider

Shiba Inu Secures $12 Million Investment to Advance its Blockchain Technology and Expand Global Ecosystem

Shiba Inu, an expansive digital assets ecosystem constructed on the Ethereum blockchain, featuring the globally recognized cryptocurrency $SHIB, today proudly announced securing a $12 million investment.

Retail FX

99.81% of NAGA shareholders approve merger with

“Securing this vote will allow us, after the regulatory approvals for the merger, to execute the new business plan. We are expanding the global reach of NAGA and upgrading the SuperApp to offer a true all-in-one user experience, unique in the world of Fintech.”

Market News

Chinese Insurance Giant Leads Market in Face of US Tech Slump

Chinese insurer China Pacific Insurance has emerged as a standout performer amidst the recent flurry of activity in the Asia Pacific markets, capturing the attention of investors and traders alike.

Retail FX

Public strikes deal to acquire Stocktwits

“After launching bonds, a high-yield cash account, and options trading, Public’s platform has earned the right to be the primary brokerage platform for many investors, and we look forward to offering the full breadth of our platform to Stocktwits customers.”


BlockDAG’s Impressive 30,000x ROI Potential and Moon-Based Keynote Captivate Solana And Bitcoin Cash Crypto Investors

Discover BlockDAG’s impressive moon keynote launch and its promise of a 30,000x ROI that is drawing investors from Solana and Bitcoin Cash.

Market News

This is it, the USD Strength has Come to an End

In the aftermath of Israel’s retaliatory strikes in Iran, the currency markets have entered a phase of heightened volatility, reflecting the intricate interplay between geopolitical tensions and economic fundamentals.


BlockDAG Leads DeFi Innovation with $19M Presale, Overshadowing Cardano and Binance Coin With 30,000x ROI and DAG Structure

Learn about BlockDAG’s growth in its presale, surpassing $19M, and its impact on the DeFi landscape, overshadowing movements in Cardano and Binance Coin (BNB).


BlockDAG Offering a Fresh Take on Meme Coin Development Amid Solana’s Challenges and Floki Inu’s Price Fluctuations With 30,000x ROI

Dive into how BlockDAG’s innovative presale, low-code platforms, and potential 30,000x ROI, outperform Solana’s technical hurdles and Floki Inu’s market predictions.