XM has joined the bandwagon of cryptocurrency trading by introducing this new and emerging type on instrument on their MT5 platform and its first offering is the Bitcoin/US Dollar (BTCUSD) as a cash CFD. Just like the other instruments that they offer, you will be able to enjoy low margin requirements, zero commissions and zero fees. Via this instrument, the spreads can go for as low as 12 pips with minimum and maximum trade sizes of 0.1 and 10, respectively. You can trade 24 hours a day, 5 days a week and go long or short based on the movement of the market.
Emergence of Cryptocurrencies
Digital currencies like Bitcoin have become an attractive investment which can be an alternative to forex. Compared to centralized banking systems, these type of assets operate without any central authorities or banks and instead use decentralized control from its peer-to-peer technology. While these currencies can be bought and sold on digital exchanges, the risks are much higher due to security issues of getting hacked and the lengthy process of opening a digital wallet.
Trading Cryptocurrencies via CFDs
A great alternative to ride on the wave of these emerging assets is to trade via contracts for difference or CFDs which XM is offering. With CFDs, you never actually own the instrument but you can make substantial profits when the market moves in your favor. Its nature of being a leveraged product will require you to deposit a portion of the full value of the trade to be able to open a position. If you wish to enjoy these benefits and start investing on Bitcoin then be sure to register for an account with XM.
*Trading Forex can be a risk to your investments. You should only trade with money that you can afford to lose.