XM Fees: Cheap Or Not?
XM breaks its trading costs into tiered options tailored to specific trading styles. From our analysis, its pricing environment is strong if you avoid the wider-spread Standard account and focus your volume through the Ultra Low or Zero tiers. Just be mindful of the 90-day inactivity clock and the bank wire minimum boundaries to avoid unnecessary administrative fees.
Written ByChristian Harris
Christian is a seasoned analyst, leveraging his expertise in stocks, forex, and crypto to evaluate brokers worldwide. With hands-on trading experience and a strong focus on risk management, he helps traders find reliable platforms. Christian's work for BrokerListings.com has been cited in the Financial Times.
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Fact Checked ByTobias Robinson
Tobias is committed to helping traders find the right brokerage for their needs. He has tested 200+ brokers, spent 2,600+ hours using different platforms, and placed 2,100+ trades.
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Edited ByJames Barra
James is an experienced broker analyst with a background in financial services. He has spent 2,500+ hours testing brokers, used 35+ different platforms and apps, audited 120+ broker T&Cs, and verified 300+ regulatory licenses. James has also been on US and UK TV news channels discussing reports conducted by BrokerListings.com and sharing his expertise.
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Trading Fees By Account Type
XM structures its transaction expenses across three main account pathways:
Make Full Width| Account Type | Commission Rate | Spread Architecture | Average EUR/USD Spread | Fee Level | Ideal Trading Profile |
|---|---|---|---|---|---|
| Ultra Low Account | $0 | Tighter variable spreads (built-in cost) | 0.8–1.1 pips | Low | High-velocity day traders and scalpers seeking zero-commission pricing. |
| Zero Account | $3.50 per lot per side ($7.00 round turn) | Raw market spreads | 0.0–0.2 pips (+ commission) | Low | EA algorithmic traders and professional scalpers requiring raw spreads. |
| Standard / Micro Account | $0 | Wider variable spreads (all-inclusive cost) | 1.6–2.0 pips | Average | Casual or long-term swing traders looking to maximize promotional deposit bonuses. |
Discrepancy Warning against Public Marketing: XM’s promotional landing pages frequently state that Standard account spreads start “from 1.0 pip.” Our live testing revealed that, under normal market liquidity conditions, typical daytime EUR/USD spreads on Standard accounts range from 1.6 to 2.0 pips. To secure the most competitive pricing, opt for the Ultra Low or Zero accounts.
Note that XM operates through multiple entities (e.g. CySEC in Europe, ASIC in Australia, FSC in Belize, DFSA in Dubai). Account names, such as Ultra Low, plus bonus eligibility, may vary by region.
Spreads On Key Assets (Standard Account)
The table below tracks typical trading execution charges during liquid trading windows on a Standard account format:
Make Full Width| Asset Class | Instrument | Average Spread | Out-of-Pocket Execution Cost | Fee Level |
|---|---|---|---|---|
| Forex | EUR/USD | 1.8 pips | $18.00 per standard lot | Average |
| Forex | GBP/USD | 2.2 pips | $22.00 per standard lot | Average |
| Forex | AUD/USD | 2.0 pips | $20.00 per standard lot | Average |
| Commodities | Gold (XAU/USD) | 0.35 pips | $35.00 per standard lot | Average |
| Indices | S&P 500 (US500) | 0.60 points | $0.60 per single contract | Low |
How XM’s Fees Compare To The Competition
While XM’s Standard Account sits slightly around or slightly above the broad industry average for major currency pairs, its Ultra Low account offers highly competitive all-in pricing:
Make Full Width
| Currency Pair | XM Ultra Low Account (Spread Cost Only) | Typical Industry Standard Account | Pricing Evaluation | Fee Competitiveness |
|---|---|---|---|---|
| EUR/USD | ~0.9 pips | 1.1 pips | Broadly competitive with global ECN-style pricing. | Low |
| GBP/USD | ~1.1 pips | 1.4 pips | Highly efficient for major-session trading. | Low |
| AUD/USD | ~1.0 pips | 1.3 pips | Offers a clear cost advantage for active traders. | Low |
Alternatively, see our cheapest trading brokers.
Non-Trading Fees
XM maintains an accessible administrative cost policy, though it contains a few specific conditions to monitor:
Make Full Width| Fee Type | Cost Structure | Fee Competitiveness | Practical Advice On Handling It |
|---|---|---|---|
| Deposit Fee | $0 | Very Low | Free across all credit/debit cards, supported e-wallets, and local payment methods. |
| Withdrawal Fee | Varying / $0 base | Low | Free across most payment methods. International bank wires below $200 may incur a $15 fee. |
| Inactivity Fee | $5.00 per month after 90 days | Average | Avoid leaving an account inactive for extended periods if you intend to keep it open. |
| Currency Conversion | Variable markup spread | Average | Applies automatically when trading instruments denominated in a currency different from your account’s base currency. |
How Overnight Swap Fees Work
Positions held past daily server rollover boundaries (17:00 New York time) incur or earn an overnight interest swap rate:
- The Long Trade Scenario: Buying a currency pair in which the base currency yields less than the quote currency triggers a net debit charge to your balance for maintaining that exposure overnight.
- The Short Trade Scenario: Shorting that identical instrument means you are selling the lower-yield currency, which can yield a daily credit to your account ledger each evening.
- Swap-Free Options: XM offers compliant Islamic account paths that don’t charge daily overnight swaps.