XM.COM, the multi-regulated online provider of foreign exchange and CFDs trading, has expanded its offering on the MT5 platform through a new trading instrument. XM will now offer trading in the world’s most popular digital currency trading pair – Bitcoin/US dollar (BTC/USD) – according to a release on its official website.
XM.COM will offer several benefits to its customers with the new offer. It will be offered as a cash CFD, which means that cash CFDs will be offered as undated transactions that will replicate the cash price of the underlying instrument to make adjusted interest. Other key benefits offered will be zero commissions, zero fees and low margin requirements. Clients using the MT4 platform that want to trade the new pair will have to open an MT5 account in the XM members area, which they can do without any additional verification process.
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The launch comes at a period when trading Bitcoin against major currencies is picking up in volume, leading to a huge surge in the value of Bitcoin. The price of Bitcoin touched an all-time high of $4969 on the 2nd of September this year. In the last few months, some renowned global forex brokers have launched Bitcoin trading on their platforms, including IC Markets, Alpari and Hotforex.
Founded in 2009, XM.com has built a strong client base from over 190 countries in a short span of time. Earlier this year, XM incorporated the MT5 trading platform into its live trading infrastructure and signed athlete Usain Bolt as a brand ambassador.