What are the holding costs for bitcoin daily and over the weekend if i were to do a long and a short trade?

[AltWednesday]

What are the holding costs for bitcoin daily and over the weekend if i were to do a long and a short trade?

[Caseynotes]

On 08/11/2020 at 00:45, AltWednesday said:

What are the holding costs for bitcoin daily and over the weekend if i were to do a long and a short trade?

Hi, see this page;

 

[HaroldZed]

It seems to be at current prices around £7 per coin. Worked it out to be something in the region of 20.5% per annum charged daily plus an IG surcharge.

The actual amount is 0.0556% per day or 20% p.a. plus another 7.5% p.a. fee for IG or 27.5%p.a 

[kagry]

This seems to be very expensive and not worth using IG platform for crypto long?  or am I missing something? 

[Nick1000]

On 03/12/2020 at 12:58, kagry said:

This seems to be very expensive and not worth using IG platform for crypto long?  or am I missing something? 

If you are looking to invest over the longer term, I would advise just buying the physical.  All platforms that offer bitcoin coin derivatives (be they be CFDs, futures and spreadbets) all seem to charge holding costs at exorbitant rates.  At least IG pay you for holding short positions, typically 12.5% (its lower for bitcoin) on nominal value.  In fact I'm looking at buying physical ether and completely hedging on IG to eliminate price risk and just earn the 12.5% the short leg.

[wendyblakeikgz]

On 03/12/2020 at 14:58, kagry said:

This seems to be very expensive and not worth using IG platform for crypto long?  or am I missing something? 

do you think it's expensive?
are you serious??

[wendyblakeikgz]

anyone?

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