Want to take advantage of litecoin volatility? Go long or short on the bitcoin alternative with IG, the world’s No.1 CFD provider1.
Litecoin trading
Important Notice:
Cryptocurrencies are not regulated by the Monetary Authority of Singapore (MAS) as they are not legal tender or securities. Investors should be aware that they do not have any legislative protection when they deal with cryptocurrencies and related investment products. If you choose to invest in unregulated products, you will not be protected under MAS regulations. Please ensure that you are fully aware of the risks involving cryptocurrencies and if in doubt, you should consult an independent financial adviser under a separate engagement. To find out more information about cryptocurrencies and risks, you can go to the MoneySense website here.
Find out more about how leveraged litecoin trading works.
Why trade litecoin with IG?
-
Go short as well as long
Think litecoin’s price is headed down? Open a short position.
-
No exchange account needed
We source prices from multiple exchanges on your behalf.
-
Trade on leverage
Deal litecoin without putting up lots of capital.
-
Improved liquidity
So there’s more chance of executing your full trade at your chosen price
What is litecoin?
Litecoin (LTC) is a cryptocurrency, similar in lots of ways to bitcoin. Charlie Lee, the founder of litecoin, even based it off the older currency’s source code – and said he intended litecoin to be ‘silver to bitcoin’s gold’.
However, there are two key differences between litecoin and bitcoin:
- Litecoin is mined faster than bitcoin, which makes transfers quick and cheap
- Litecoin’s supply cap is 84 million coins, four times that of bitcoin
Live litecoin prices
| Markets | Sell | Buy | Updated | Change |
|---|---|---|---|---|
| Litecoin (USD) |
-
|
-
|
-
|
Prices above are subject to our website terms and conditions. Prices are indicative only.
Litecoin trading costs and details
See our litecoin spreads, dealing hours and margins in our help section:
Please note that your account can go on margin call during the weekends as the cryptocurrencies market is open.
Please note that in times of high volatility, our minimum spreads can increase significantly.
How does leveraged litecoin trading work?
Buying (or ‘going long’ on) litecoin via leveraged trading works in a similar way to buying LTC on an exchange: you open a position that increases in value as litecoin’s price increases (usually against the US dollar). But there are several key differences between the two.
Firstly, when you open a leveraged litecoin trade, you aren’t actually taking ownership of any cryptocurrency. Instead, you’re speculating on the direction in which its price is headed. So you don’t need an exchange account to get started, and you can open short positions as well as long ones.
Secondly, you don’t have to put down the full value of a leveraged litecoin position upfront – just a deposit known as 'margin'. While that makes leveraged trading a powerful tool, it also makes it risky. If your position moves against you, it can even mean that you risk losing more than your original deposit.
Litecoin CFD example
You buy 15 litecoin CFDs when it’s trading at $300. Our buy price is 305 and our sell price is 295.
Buying 15 litecoin CFDs at 305 is the equivalent of buying 15 litecoins for $305 each, giving you a total exposure of 15 x $305 = $4575.
Litecoin’s price rises 40 points to $340, and our price is now 345 to buy and 335 to sell. You close your position by selling 15 CFDs at 335.
335 – 305 = 30, meaning your position has moved 30 points. Your gross profit is 15 x 30, or $450.
If you’d shorted litecoin, you would have lost $750 (40 points plus ten points from the spread)2.
FAQs
Can I short litecoin with IG?
Yes. When you trade litecoin with IG you are speculating on price movements instead of buying and holding LTC, so you can open short positions as well as long ones.
Where do you get litecoin prices from?
We source our litecoin prices from a combination of the world’s most liquid exchanges, and then offer you the best available price.
Do you offer advanced order types?
Yes. As well as trading litecoin at the current price, you can select your preferred entry level. You can also add stops and limits to your positions to manage your risk or lock in profits.
You might be interested in...
-
Learn about IG
Meet the world's No.1 CFD provider1
-
How to trade bitcoin
Get to grips with the basics of how to trade bitcoin with our step-by-step guide.
-
Cryptocurrencies: buying vs trading
Explore the differences between buying cryptocurrencies and trading them.
1Based on revenue excluding FX (published financial statements, February 2018)
2Excludes any daily funding charges.
Contact us
New client: +65 6390 5133 or accountopening@ig.com.sg
Clients: Help and support
WhatsApp: Click here
