Options are extremely useful financial instruments that give you the right to buy or sell the underlying asset, but you as an option holder can always decide not to do that. Options have many applications, and an experienced trader can use them for leverage or risk hedging. However, you have to be sure that your broker allows you to trade options. In this article, we analyze how XM Group treats options trading and tell you a bit about other trading tools offered by the broker.
XM Group overview
XM Group has been providing brokerage services since 2009. Now the broker operates in about 190 countries all over the world, but it’s especially popular in Asia and Africs. XM is a reputable company that’s well-regulated by several major financial institutions including ASIC and CySEC. That means it can be definitely trusted without any doubts. At first, the broker was working only with Forex traders, but now it provides a wide variety of available trading instruments.
The list of trading tools offered by XM consists of many different CFDs on all kinds of assets: shares, currencies, metals. The broker even allows you to trade CFDs on crypto but only if you’re outside of the EU. But are there any XM options trading features? Unfortunately, it seems that XM Group does not allow its clients to trade any options. But you can really benefit by trading about 60 Forex pairs: after all, it’s the asset XM is mostly known for.
Moreover, the broker is favored by many traders for its quick and stable execution of orders. While there are no passive investment features, an active trader can find the broker pretty convenient for day trading with the use of various strategies. The minimum deposit is just $5, and you can choose among different accounts including demo accounts, cent accounts, and extra low spreads accounts with spreads starting from zero pips that can be really useful for scalping.
XM allows you to choose between MT4 and MT5 as your trading platform, but it does not have any educational materials that would explain how to use them. That means novice traders will have to learn how to trade using other sources. However, you can always ask the 24/5 customer service for help, and they are known to be professional and user-friendly. The fees charged by XM are pretty low, and there are no commissions for deposits or withdrawals at all.