| Online Broker | Minimum Deposit | DOT CFD Trading Platforms | About |
|---|---|---|---|
| Titan FX | $200 Minimum Deposit | MT4, MT5 DOT CFD Trading Platforms | Titan FX offers DOT CFD trading on MT4 and MT5, with leverage up to 100:1 About |
| AvaTrade | $100 Minimum Deposit | MT4, MT5, AvaTradeGO, Web Trader DOT CFD Trading Platforms | AvaTrade provides 24/7 trading of DOT CFDs on its AvaTradeGO mobile app, its user friendly Web Trader and on MT4 and MT5, with leverage for Cryptos up to 25:1 About |
| Plus500 | $100 Minimum Deposit | Web Trader & Apps DOT CFD Trading Platforms | Plus500 offers CFDs on Polkadot on its user friendly online trading platform About |
| IC Markets | $200 Minimum Deposit | MT4, MT5 DOT CFD Trading Platforms | IC Markets offers 24/7 trading of DOT CFDs on MT4 and MT5 About |
Polkadot Crypto CFD Trading - What is Polkadot and DOT
Blockchains, the technology underlying cryptocurrencies, tend not to be interoperable. Polkadot aims to trackle this problem, by allowing different blockchains satisfying certain conditions to connect to its network and exchange data. Bitcoin, for example, does not actually satisfy the conditions required (but it could), while Ethereum does.
In practice, Polkadot is aimed at blockchains which have been designed in a certain way to fit with Polkadot and its use case is for Web3 projects, to allow experimentation without being restricted to one blockchain. Polkadot operates using a parachain model, which is a way of allowing different blockchains to exist together in parallel (hence the name).
The token used in the Polkadot platform is called DOT and the token is traded on cryptocurrency exchanges under this ticker symbol. DOT is used for governance (essentially voting rights), staking (staking is a way to direct desired behavior by making participents put up a stake which they can lose) and bonding, which is away to add or remove parachains to or from the network. While CFD brokers have tended to restict themselves to a few of the major cryptos, this reach has gradually been widening, and some CFD brokers may offer trading based on DOT.
CFD trading allows the trader to trade based on changes in value of the underlying asset, and the trader does not own any DOT when trading a DOT CFD. Trading a CFD also allows the trader to use leverage (which can vary depending on the broker and region) however cryptocurrencies are extremely volatile and increasing leverage increases risk. As cryptocurrencies are traded 24/7, weekend trading may be available, depending on the broker (with normally a short break for maintenance).
