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Cryptocurrency Trading

Open an MT5 account to go long or short on Bitcoin, Ethereum, Litecoin and Ripple.

Why Trade Cryptocurrencies with Eightcap

Client Money

No wallet required

Take a position on your chosen market without the need to create a Cryptocurrency wallet.
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Personal Customer Support

Find your feet with our two personalised account offerings. Our multilingual team is available to help you navigate the financial markets. You can trade at your own pace knowing we are only a phone call away.
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Multi-Jurisdictional Regulation

Established in Australia with multiple entities each regulated independently to provide you with a safe trading environment.
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Trade Cryptocurrencies on MT5

Trade Cryptocurrencies on MT5 across webtrader, desktop and mobile, all on our powerful and secure technology infrastructure.

Apply for a live account in a few minutes or try a free demo account.

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What is Cryptocurrency Trading?

Cryptocurrencies are digital currencies which are secured by cryptography and exists on a decentralised ledger based on blockchain technology. Many people favour cryptocurrency due to the lack of a central authority which means there is no interference from the government, it can't be manipulated, and most importantly it's almost impossible to counterfeit cryptos.

Similar to Index CFDs, Cryptocurrencies can be traded via a derivative that allows traders to take a long or short position. Traders won’t own the underlying cryptocurrency, but they will ‘own’ any movement in the price when they hold a position.

 

Introducing Cryptocurrencies

Bitcoin

Bitcoin was the original cryptocurrency and was introduced in 2009. It’s also the most valuable and most widely traded. Bitcoin is viewed as both a store of value and as a medium of exchange, and both of these attributes give it its value. Bitcoin’s code has been copied and amended by numerous other teams starting similar digital currencies, however, Bitcoin is still more valuable than all the other cryptocurrencies combined.

Litecoin

Due to the size of its market capitalisation, Litecoin is rendered to be the third biggest cryptocurrency after Bitcoin and XRP. Users go to Litecoin to transfer currencies from one to another but in units of Litecoin, as opposed to USD. Just like the other cryptos, Litecoin is not issued by the government instead, they are created through a process known as 'mining'.

Ripple

Ripple is a company creating blockchain-based solutions for the global banking industry. These solutions use Ripple’s own cryptocurrency, XRP, which trades freely like any other cryptocurrency. Ripple is being tested by several of the largest banks in the world. This is because the interbank currency market is the largest market in the world, if the tests are successful, XRP will have significant utility underpinning its value.

Ethereum

Ethereum is similar to the Bitcoin blockchain, however, the platform enables users to run applications and smart contracts. Ethereum is known for its decentralisation and autonomous functionality which makes it different to other open public networks.

FAQs

Advantages of Trading Cryptocurrencies CFDs

  • Cryptocurrencies have the largest price moves of any asset class, allowing disciplined traders to ride large price fluctuations.
  • Cryptocurrencies allow traders to participate and invest in the latest innovations in the fields of technology and finance.
  • Open short and long positions in market with small or large amounts of capital.

 

Things to consider when Trading

  • Because crypto prices can be volatile, they can also be seen as riskier markets to trade.
  • Using leverage irresponsibly can lead to losses where a large portion of your investment can be lost if the market moves against you.
  • Past performance of strategies is not an assurance of future performance.

SymbolStandard account
Lowest spread
Raw account
Lowest spread*
Bitcoin (BTCUSD)30.0 pips30.0 pips
Bitcoin Cash (BCHUSD)2.0 pips2.0 pips
Ethereum (ETHUSD)4.0 pips4.0 pips
Litecoin (LTCUSD)3.0 pips3.0 pips
Ripple (XRPUSD)0.3 pips0.3 pips

Margin trading refers to using borrowed funds from a broker to purchase a financial asset or assets in a larger volume. Traders use margin to buy more stock than they would normally be able to (or afford to do). Margin is then used to create leverage to enter larger trades or open larger positions, in a bid to magnify gains.

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Trading in three steps

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FUND & TRADE

Fund account with as little as $100 and start trading the global markets.

APPLY

Complete a simple application form.

VERIFY

Upload documents to verify your account.

FUND & TRADE

Fund account with as little as $100 and start trading the global markets.