XM does not provide services to residents of the United States of America.
ALGOUSD (Algorand / US Dollar) Trading with XM
At XM, we offer ALGOUSD (Algorand / US Dollar) as a cash CFD. Our cash CFDs are undated transactions that aim to replicate the cash price of the underlying instrument, and so, are adjusted for interest.
FAQ
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Do I need a crypto wallet to trade ALGOUSD at XM?
No, you do not. When trading ALGOUSD at XM, you are in essence speculating on the price movement of ALGOUSD by trading on a ALGOUSD CFD.
You do not need to actually own any cryptos, and therefore you do not need to have a crypto wallet.
Can I short ALGOUSD with XM?
Yes. You can take a buy or sell trade on the ALGOUSD pair or other ALGO related pairs which may be offered in the future.
What time is ALGOUSD available for trading?
ALGOUSD is available for trading 24 hours a day, 7 days a week.
Can I trade ALGOUSD on the MT4 and MT5 platforms?
ALGOUSD trading is available on the XM MT4 and MT5 platform. The XM MT4 and MT5 will allow you to trade cryptocurrencies, forex, CFDs on stocks, oil and gold all from 1 trading account.
Trading Conditions
| Min Margin Percentage | 2% |
| Spread as low as (quote currency) | 0.00570 |
| Symbols | ALGOUSD |
| Description | Algorand vs US Dollar |
| Min. Price Fluctuation | 0.00001 |
| Value of Minimum Price Fluctuation | 0.01 USD |
| Value of 1 lot | 1,000 Tokens |
| Spread as low as (quote currency) | 0.00570 |
| Min/Max Trade Size | 0.24/3000 |
|
Long Swap Value (Points)*** |
-20.04 |
|
Short Swap Value (Points)*** |
-20.04 |
| Limit and Stop Levels** | 0 |
| Volume in Lots | Margin (%) | Leverage |
|---|---|---|
| 0-1000 | 2 | 50:1 |
| 1000+ | 100 | 1:1 |
For more information about dynamic margin percentage, please click here.
Weekday 00:00 - 00:00 (GMT +2)
Saturday 00:00-10:05,10:35-00:00 (GMT +2)
│
Sunday 00:00-00:00 (GMT +2)
** Min. level for placing pending orders at a current market price.
***Swap fees for CFDs on Cryptocurrencies will be charged from Monday to Friday with triple fees on Friday. Swap fees are only applied to positions held open overnight. The operation is conducted at 00:00 GMT+2 (note that DST may apply) and can take several minutes.
***Swap fees for CFDs on Cryptocurrencies will be charged from Monday to Friday with triple fees on Friday. Swap fees are only applied to positions held open overnight. The operation is conducted at 00:00 GMT+2 (note that DST may apply) and can take several minutes.
How to Start Trading ALGOUSD (Algorand / US Dollar)?
Step 1
Open an XM Real Account
Step 2
Step 3
Double-click on ALGOUSD (Algorand / US Dollar) from the “Market Watch” to open an order for this instrument.
