[XM Trading: For Forex Beginners] Virtual Currency Trading Bitcoin, Ripple, etc.

Until now, XM has not dealt with cryptocurrency CFDs (crypto assets) such as Bitcoin, Ripple Ethereum, etc. due to the high volatility. But in 2022, XM made a big decision. XM resumed trading of cryptocurrency CFDs on May 24th, making it possible to trade 24 hours a day, 365 days a year on MT4 and MT5.

Virtual currency trading

As of January 2023, there are 27 cryptocurrency stocks (31 currency pairs) that can be traded on XM Trading. XM Trading supports a wide range of cryptocurrencies, from famous cryptocurrencies such as Bitcoin and Ethereum to minor cryptocurrencies. Compared to other Forex brokers, you can see that you can trade in many cryptocurrencies at XM.

[XMTrading: For FX beginners] List of all XM currency pairs and stocks CFD trading, leverage, spread

XM Trading offers 57 types of FX, 4 precious metals, 8 commodity futures, 18 spot stock indices, 11 futures stock indices, 5 energy, and 31 cryptocurrencies for standard and micro accounts. Therefore, it is a service that allows you to enjoy various transactions not limited to FX. Now, let's make a list of all brands.

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2022.12.31

Characteristics of virtual currency trading

Let’s take a look at 9 features of XM trading cryptocurrencies.

Tradeable on MT4 and MT5

XM allows you to trade Bitcoin on both MT4 and MT5. Most virtual currency exchanges use their own platform, and you have to get used to using the platform for each exchange, but with XM you don’t have to.

Trading possible from 0.01 lot

Bitcoin on XM can be traded from a minimum of 0.01 lot and a maximum of 12 lot positions can be ordered. The maximum number of lots for one position is 12 lots, but it is possible to hold larger lots by holding multiple positions.

Virtual currency trading as it is with FX account

At XM Trading, virtual currency trading is possible with the same account as the FX account. Some FX traders require a dedicated account for virtual currencies, so saving the trouble of opening an account is a big advantage of XM Trading.

However, please note that virtual currency trading is not possible with a zero account.

24/7 trading

Bitcoin and virtual currency transactions are possible 24 hours a day, 365 days a year. However, please note that virtual currency transactions cannot be performed during maintenance. XM will be performing virtual currency server maintenance from 16:05 to 16:35 on Saturdays.

Maximum leverage is 250x

The maximum leverage for cryptocurrency trading on XM is 250x. Compared to other virtual currency exchanges, you can see that you can trade with a fairly high leverage. Among other companies in the same industry, FXGT is 1000 times, but the leverage is higher than other exchanges.

swap free

XMtrading offers swap-free and commission-free trading of all cryptocurrency instruments. Bitcoin is a virtual currency characterized by high swap points. If you hold bitcoin with FXGT, you will incur a fee of about 5000 yen even for just one day. On the other hand, if you trade with XM, you don’t have to pay any fees.

Disadvantages of XM trading

XM allows you to trade virtual currencies, but there are also disadvantages.

wide spread

The spread on XMUSD is 23 pips for BTCUSD and 2.55 pipspips for ETHUSD. Compared to other Forex brokers, it has a slightly wider setting. Therefore, it is not very suitable for scalping.

high volatility

It should be noted that cryptocurrencies are highly volatile. Virtual currencies have a higher volatility (price fluctuation range) compared to exchange rates and stock indices. If the volatility is large, it is easy to earn because the price range can be taken, but on the contrary, the loss may also be large. So automated trading is out of the question.

Leverage limit

There is a disadvantage that leverage is limited by the number of lots. All cryptocurrencies that can be traded on XM are subject to maximum leverage limits based on the number of lots.

The maximum leverage is 250x for trading volumes up to 7 lots. On the other hand, 7 lots or more limits the maximum leverage to 50x.

deposit and withdrawal with bitcoin

XM does not yet support deposits and withdrawals with virtual currencies such as Bitcoin. Only fiat currencies such as Japanese yen, US dollars, and euros can be used for deposits and withdrawals.

virtual currency leverage

The leverage of virtual currency in XM is set as follows. For pairs that do not fall under the following, the ratio is set to 50x.

virtual currency spread

For the spread of virtual currency pairs, only the minimum spread is listed. This is because XM does not disclose the average spread of virtual currency pairs, so we do not know. Spreads vary depending on account type.

[XMTrading: For FX Beginners] Latest real account opening method and procedure, required documents, important points explained

XM Trading is the world's most used Forex broker. In order to actually do Forex, it is necessary to have a wide account at a Forex company. By the way, opening an account is easy even for beginners, and there is no cost. Opening an account may sound troublesome, but it only takes about 10 minutes to fill in the registration form and about 30 minutes to authenticate the required documents. It will be possible to start.

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2022.12.30