# Best broker for spread betting bitcoin



## spacecolm (30 May 2021)

I am using CMC for spread betting and am very happy with them for stocks/indices/commodities.

Last week I shorted bitcoin with them. Trade is doing well but I am concerned because:

1. It is not possible to have a guaranteed stop
2. I am unable to close my position from Friday night to Sunday night (because it is outside of their trading hours)
3. If I want to go long on bitcoin, the (annualised) overnight charge is a whopping 35% - my credit card is cheaper!
4. I am forced to use 2:1 leverage so I cannot avoid the overnight charge

Is there another broker that has better flexibility on these 4 issues?

I want to use spreadbetting for the tax advantages


----------



## Steven Barrett (31 May 2021)

spacecolm said:


> I am using CMC for spread betting and am very happy with them for stocks/indices/commodities.
> 
> Last week I shorted bitcoin with them. Trade is doing well but I am concerned because:
> 
> ...


Leveraging on something as volatile as Bitcoin and not able to trade over the weekends?!! You might get to Monday morning and you have lost all your money! That's the problem with Bitcoin, it's 24/7 and doesn't close so you need a broker that will allow you to bet 24/7 too.


----------



## spacecolm (8 Jun 2021)

IG allow a guaranteed stop for bitcoin and you can trade 24/7

The overnight rate is going long is lower but still very expensive!


----------

