Summary: IG Trading specialises in providing crypto CFDs (Contracts for Difference), an approach distinct from direct cryptocurrency ownership. When trading CFDs, investors are essentially speculating on the price movements of digital currencies like Bitcoin without actually owning the underlying assets. The best way to buy, trade, and hold crypto is through exchanges regulated by the Financial Conduct Authority (FCA) in the UK.

For those looking to own cryptocurrencies outright, we suggest considering eToro as an alternative. eToro stands out for its direct trading services, offering actual ownership of a wide range of digital assets. This platform provides a comprehensive selection of over 3,000 financial instruments, including crypto, stocks, ETFs, commodities, and indices. eToro's user-friendly interface supports quick GBP deposits through various methods like Faster Payments, bank transfers, and credit cards.

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Can I Buy Bitcoin with IG Trading?

At IG Trading, clients can engage in the digital asset market, but it's important to note that this is done through crypto CFDs rather than direct purchases of digital currencies like Bitcoin. These CFDs allow you to speculate on the price movements of various tokens without owning the underlying assets. For those looking to acquire actual cryptocurrencies, you'll need a digital currency exchange in the UK. Choosing one regulated by the Financial Conduct Authority (FCA) is crucial for ensuring the security of your investments.

How to Buy Crypto with IG Trading Alternative

For those using IG Trading and seeking direct cryptocurrency purchases, exploring regulated exchanges supporting GBP deposits is the best option. Our recommended platform for this purpose is eToro, acclaimed for its extensive range of assets and adherence to FCA regulations. eToro accommodates various deposit methods, such as bank transfers, PayPal, Skrill, Neteller, and credit or debit cards, enhancing its accessibility for British traders.

IG Trading clients eager to venture into cryptocurrency trading with eToro can begin with these straightforward steps:

  1. Account Setup: Create your eToro account and complete the required identity verification process.
  2. Currency Selection: Go to the "Deposit Funds" section on eToro and select "GBP" as your currency of choice.
  3. Funding Your Account: Pick a preferred payment method from the options available and proceed to deposit funds into your account.
  4. Purchasing Crypto: Use the search feature to locate your desired cryptocurrency, click ‘Trade’, specify your investment amount, and execute the trade by tapping ‘Open Trade’.
How to Buy Crypto with IG Trading Alternative.
How to Buy Crypto with IG Trading Alternative.

Will IG Trading Offer Direct Crypto Trading?

Currently, IG Trading's approach to cryptocurrencies centers around offering Contracts for Difference (CFDs) rather than facilitating direct purchases of digital assets. Their stance is that trading crypto CFDs provides an efficient way for clients to engage with the cryptocurrency market. It's important to recognise, though, that owning digital currencies directly has often yielded higher returns compared to indirect investment methods like CFDs. Given the recent events in the market, such as the FTX incident, the security and autonomy of direct cryptocurrency ownership are increasingly being highlighted as beneficial.

Digital Asset Investing Fees

For IG Trading clients looking into cryptocurrency investments, it's essential to be well-informed about the various fee structures, as these can significantly impact investment returns. Here's a breakdown of common fees you might encounter on platforms offering digital asset trading:

  1. Trading Fees: On platforms such as eToro, transaction fees are typically charged for trading digital currencies, usually around the 1% mark.
  2. Deposit Fees: The fees for depositing funds can vary depending on your chosen method. Bank transfers and Faster Payments generally come with lower fees, while using credit or debit cards for deposits might attract fees of up to 2%.
  3. Withdrawal Fees: The costs for withdrawing cryptocurrencies can differ among platforms, with charges for Bitcoin withdrawals often around 0.0005 BTC.

IG Trading clients considering stepping into the cryptocurrency market may find platforms like eToro advantageous due to its competitive fee structure and the ability to deposit in GBP. eToro is compliant with the regulations of various international financial authorities, providing a secure and regulated trading environment.

What is IG Trading?

IG Trading, headquartered in London, UK, is a globally recognised online trading and investment platform. It offers a diverse range of financial products, predominantly focusing on Contracts for Difference (CFDs). Clients can trade in various markets such as forex, stocks, indices, commodities, and cryptocurrencies, though it's important to note that IG Trading provides crypto trading through CFDs rather than direct asset ownership. 

The platform is lauded for its cutting-edge trading technology, extensive educational materials, and strong customer support. IG Trading operates under the stringent regulation of the Financial Conduct Authority (FCA) in the UK and serves a wide international market, catering to both beginner and experienced traders who seek to broaden their investment horizons.

IG Trading: Home Page.
IG Trading: Home Page.

Final Thoughts

In conclusion, IG Trading offers a unique approach to cryptocurrency trading through Contracts for Difference (CFDs), allowing clients to speculate on crypto prices without owning the assets. While this method is regulated and secure under the UK's FCA, it differs from direct cryptocurrency ownership which can potentially offer higher returns. 

For those seeking to own digital assets outright, eToro emerges as a strong alternative, providing a broad array of financial instruments and a user-friendly platform for direct crypto purchases and trades. eToro offers instant GBP deposits to trade over 3,000 digital currencies, traditional currencies, stocks, ETFs, indices and commodities with low fees.