XM spreads start from 1.0 pip on Micro and Standard accounts and from 0.6 pip on Ultra Low accounts, with no commission charged on any account type. XM uses a spread-only pricing model, which means the spread is your primary trading cost on every trade. This guide breaks down XM’s exact spreads by account type and instrument, explains the additional costs you should account for (swap fees, currency conversion, inactivity), and compares XM’s total cost structure against competing brokers so you can determine whether XM is cost-effective for the way you trade. Verified June 2026.
Affiliate disclosure: forex-bonus.com may receive compensation if you open an account through links on this page. This does not influence our ratings or analysis. See our review methodology for how we evaluate brokers.
Risk warning: Forex and CFD trading carries significant risk. The majority of retail trader accounts lose money. You should not trade with money you cannot afford to lose.
Availability note: XM operates under multiple regulatory entities. Bonus programs and certain account features are not available to clients in the EU (ESMA), UK (FCA), Australia (ASIC), or the US. The information in this article applies primarily to traders in eligible regions including Nigeria, South Africa, India, Indonesia, Malaysia, the Philippines, Pakistan, and Bangladesh.
How XM Spreads Work
XM operates a spread-only pricing model across all its account types. There is no separate commission on any XM account, unlike brokers that offer raw-spread accounts with a per-lot commission. Your entire cost per trade is embedded in the bid-ask spread.
XM uses variable (floating) spreads, meaning the spread widens and tightens depending on market liquidity and volatility. The “from” values XM advertises are the minimum spreads observed under ideal liquidity conditions, typically during the London-New York overlap session. During low-liquidity periods (Asian session open, weekends rollover, major news releases), spreads will be wider than the advertised minimums.
This matters because the spread you actually pay on most trades will be higher than the “from” figure. What matters is the average spread, not the minimum. Our live spread testing section below documents both.
XM Spreads by Account Type
XM offers multiple account types, each with different spread structures. The table below compares the advertised minimum spreads across all account types.
| Account Type | Min. Deposit | Spreads From | Commission | Lot Size | Platforms |
|---|---|---|---|---|---|
| Micro | $5 | 1.0 pip | None | 1,000 units | MT4, MT5 |
| Standard | $5 | 1.0 pip | None | 100,000 units | MT4, MT5 |
| Ultra Low Micro | $50 | 0.6 pip | None | 1,000 units | MT4, MT5 |
| Ultra Low Standard | $50 | 0.6 pip | None | 100,000 units | MT4, MT5 |
| Shares | $10,000 | Variable | None (spread only) | 1 share | MT5 |
Source: XM account specifications via third-party references. XM’s website experienced access issues during our June 2026 research. Always confirm current spreads directly with XM before opening an account.
The key distinction is between the standard-spread accounts (Micro and Standard) and the Ultra Low accounts. Both tiers charge zero commission, but Ultra Low accounts offer tighter spreads starting from 0.6 pips versus 1.0 pip. The trade-off is a higher minimum deposit ($50 versus $5) and the fact that Ultra Low accounts are not eligible for XM’s deposit bonus program.
If you are choosing between a Micro and Standard account, the spreads are identical. The only difference is lot size, which affects position sizing and margin requirements. For a full comparison of deposit requirements, see our XM minimum deposit guide.
XM Spreads on Major Currency Pairs
The spreads below represent XM’s advertised typical and minimum values for the most traded forex pairs. We include both the minimum and typical (average) figures where available.
Standard and Micro Account Spreads
| Pair | Minimum Spread | Typical Spread | Notes |
|---|---|---|---|
| EUR/USD | 1.0 pip | 1.6 pips | Most liquid pair, tightest spreads |
| GBP/USD | 1.0 pip | 2.1 pips | Wider during Asian session |
| USD/JPY | 1.0 pip | 1.6 pips | Tight during Tokyo + London sessions |
| AUD/USD | 1.0 pip | 1.8 pips | |
| USD/CAD | 1.0 pip | 2.2 pips | |
| EUR/GBP | 1.5 pips | 2.0 pips | Cross pair, typically wider |
| EUR/JPY | 1.5 pips | 2.3 pips | Cross pair |
| GBP/JPY | 2.0 pips | 3.5 pips | Volatile cross, wider spreads expected |
Ultra Low Account Spreads
| Pair | Minimum Spread | Typical Spread | Notes |
|---|---|---|---|
| EUR/USD | 0.6 pip | 0.8 pips | Tightest XM spread tier |
| GBP/USD | 0.6 pip | 1.2 pips | |
| USD/JPY | 0.6 pip | 0.9 pips | |
| AUD/USD | 0.6 pip | 1.0 pips | |
| USD/CAD | 0.8 pips | 1.4 pips | |
| EUR/GBP | 1.0 pip | 1.5 pips | |
| EUR/JPY | 1.0 pip | 1.5 pips | |
| GBP/JPY | 1.4 pips | 2.2 pips |
Live spread testing is pending. We plan to open XM Micro and Ultra Low accounts to record real-time spreads across multiple sessions (London, New York, Asian, news events) and will update these tables with verified average figures. Until then, treat the “minimum spread” values as best-case scenarios, not what you will pay on a typical trade.
The typical spread is the number that actually determines your trading cost. A broker advertising “from 0.6 pips” but averaging 1.8 pips is more expensive than one advertising “from 1.0 pip” but averaging 1.2 pips. This is why we prioritize live testing over marketing claims.
XM Spreads on Other Instruments
XM offers CFDs beyond forex, each with its own spread structure.
Commodities
| Instrument | Minimum Spread | Notes |
|---|---|---|
| Gold (XAU/USD) | 3.5 pips | High-volume instrument, spreads widen during volatility |
| Silver (XAG/USD) | 3.6 pips | Typically wider relative to gold |
| Crude Oil (WTI) | 0.04 points | Spreads affected by inventory reports |
| Natural Gas | 0.035 points | Highly volatile, wider spreads common |
Stock Indices
| Instrument | Minimum Spread | Notes |
|---|---|---|
| US30 (Dow Jones) | 4.0 points | Cash CFD |
| US500 (S&P 500) | 0.7 points | Cash CFD |
| US100 (Nasdaq) | 2.0 points | Cash CFD |
| UK100 (FTSE) | 1.5 points | Cash CFD |
XM lists over 1,000 instruments across forex, commodities, indices, stocks, and cryptocurrencies. Full instrument-by-instrument spread data will be added after live testing. Check XM’s MT4 or MT5 platform for real-time quotes on any specific instrument.
Understanding XM’s Total Trading Costs
The spread is your primary cost per trade at XM, but it is not your only cost. To calculate the true cost of trading with XM, factor in these additional charges.
Swap Fees (Overnight Financing)
If you hold a position overnight past the daily rollover time (server time, which for XM is GMT+2 or GMT+3 during daylight saving), XM applies a swap fee. Swaps can be positive (you receive a credit) or negative (you pay a charge), depending on the interest rate differential between the two currencies in the pair and your position direction (long or short).
Key points about XM swap fees:
- Triple swaps on Wednesday. Like most brokers, XM charges three days of swap on Wednesday night to account for the weekend settlement period.
- Swap values vary by instrument. Swap rates are set daily and can change without notice.
- Islamic (swap-free) accounts are available. XM offers swap-free accounts for clients who cannot pay or receive interest. These accounts typically apply an administration fee after the position has been held for more than 5 trading days. Check XM’s website for current swap-free terms, as the fee schedule and eligible instruments may vary by region.
- Swap rates are visible in MT4/MT5. Right-click any symbol in Market Watch, select “Specification,” and you will see the current long and short swap values.
For day traders who close all positions before rollover, swaps are not a factor. For swing traders or position traders holding for days or weeks, swap costs can be significant and should be calculated before entering a trade.
Inactivity Fee
XM charges an inactivity fee if your account has no trading activity for an extended period.
- Inactivity threshold: 90 days (approximately 3 months) of no trading activity
- Monthly fee: $5/month (deducted from account balance once the inactivity threshold is reached)
- Account dormancy: after 12 months of inactivity, the account may be classified as dormant
If you plan to stop trading temporarily, consider withdrawing your funds to avoid the inactivity fee eating into your balance. See our XM withdrawal guide for the step-by-step process.
Currency Conversion Fee
XM does not charge an explicit currency conversion fee. However, if you deposit in a currency different from your account base currency, XM converts at the prevailing interbank rate. The exact margin applied to this rate is not published. To avoid conversion costs entirely, choose an account base currency that matches your deposit method.
XM supports base currencies including USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, and ZAR. For most emerging-market traders, USD is the safest default. South African traders benefit from the ZAR option. For full details on base currencies and deposit methods, see our XM minimum deposit guide.
Deposit and Withdrawal Fees
XM does not charge fees on deposits or withdrawals for most methods. However, your bank or payment provider may impose its own charges, particularly for international wire transfers. This is standard across the industry and not specific to XM.
How to Calculate Your Cost Per Trade on XM
The spread cost per trade depends on three factors: the spread width in pips, your lot size, and the pip value for the instrument you are trading.
Formula: Cost = Spread (pips) x Lot Size x Pip Value
Example for EUR/USD on a Standard account:
- Spread: 1.6 pips (hypothetical typical spread)
- Lot size: 1.0 standard lot (100,000 units)
- Pip value for EUR/USD: $10 per pip per standard lot
- Cost: 1.6 x 1 x $10 = $16 round turn
Example for EUR/USD on a Micro account:
- Spread: 1.6 pips
- Lot size: 1.0 micro lot (1,000 units)
- Pip value for EUR/USD: $0.10 per pip per micro lot
- Cost: 1.6 x 1 x $0.10 = $0.16 round turn
Example for EUR/USD on an Ultra Low Standard account:
- Spread: 0.8 pips (hypothetical typical spread)
- Lot size: 1.0 standard lot
- Pip value: $10 per pip
- Cost: 0.8 x 1 x $10 = $8 round turn
The Ultra Low account cuts your per-trade cost roughly in half compared to the Standard/Micro account, assuming the spread advantage holds in practice. For high-frequency traders or scalpers, this difference compounds quickly across hundreds of trades per month.
XM Spreads Compared to Other Brokers
To evaluate whether XM’s spreads are competitive, compare them against other brokers popular in the same emerging markets. The table below uses advertised minimum spreads, since live-tested averages are pending for several brokers.
| Broker | Account Type | EUR/USD From | Commission | Total Cost Model | Min. Deposit |
|---|---|---|---|---|---|
| XM | Standard | 1.0 pip | None | Spread only | $5 |
| XM | Ultra Low | 0.6 pip | None | Spread only | $50 |
| Exness | Standard | 0.3 pip | None | Spread only | $10 |
| Exness | Raw Spread | 0.0 pip | Up to $3.50/lot/side | Spread + commission | $200 |
| FBS | Standard | 0.7 pip | None | Spread only | $5 |
| HFM | Premium | 1.0 pip | None | Spread only | $5 |
| HFM | Zero | 0.0 pip | $6/lot round turn | Spread + commission | $5 |
All “from” values are broker-advertised minimums, not live-tested averages. Actual trading costs may differ. Data sourced from the forex-bonus.com Broker Matrix and third-party references as of June 2026. See our full broker comparison for a detailed side-by-side analysis.
On paper, XM’s Standard account spreads (from 1.0 pip) are slightly wider than some competitors like Exness (from 0.3 pip) and FBS (from 0.7 pip). However, advertised minimums do not tell the full story. Several factors affect the true comparison:
- Execution quality. A broker with a tighter advertised spread but more slippage or requotes may cost more in practice.
- Spread stability during news. Some brokers widen spreads more aggressively during high-impact events than others.
- Swap rates. A broker with tighter spreads but unfavorable swaps may cost more for overnight positions.
- Total package. XM’s bonus programs can offset trading costs for eligible traders. A 50% deposit bonus adds margin that effectively reduces your cost of capital. See our XM bonus page for current offers and terms.
We will publish live-tested spread comparisons as our account testing program progresses. For now, use the advertised figures as a starting point and verify with demo or small live accounts before committing significant capital.
For a direct comparison between XM and one of its closest competitors, see our XM vs Exness comparison.
Which XM Account Type Has the Best Spreads?
The Ultra Low account offers the tightest spreads at XM, starting from 0.6 pips with no commission. But the “best” account depends on your situation.
Choose Ultra Low if:
- You deposit $50 or more
- You prioritize low trading costs above all else
- You do not plan to claim XM’s deposit bonus (Ultra Low accounts are not bonus-eligible)
- You trade frequently (the spread savings compound over many trades)
Choose Micro or Standard if:
- You deposit less than $50 (these accounts accept $5 minimum)
- You want to claim XM’s deposit bonus to increase your margin
- You trade infrequently and the 0.4-pip spread difference is negligible
- You are a beginner and want the simplest account structure
For traders depositing $50 or more who do not need the bonus, the Ultra Low account is almost always the better choice purely on cost. The 0.4-pip spread advantage over Standard accounts translates to real savings, particularly for active traders. But if you are depositing a small amount and want the bonus to stretch your margin, the Micro account with slightly wider spreads and bonus eligibility may deliver better value overall.
XM Spreads for Scalpers and Day Traders
Scalpers and high-frequency day traders are the most spread-sensitive category of trader. Every fraction of a pip matters when your profit target per trade is 5 to 15 pips.
Is XM suitable for scalping?
XM allows scalping on all account types. There is no minimum holding period, and Expert Advisors (EAs) are permitted on both MT4 and MT5. The relevant question is whether the spreads are tight enough.
On the Ultra Low account, the advertised minimum of 0.6 pips on EUR/USD is within the range that scalpers can work with, provided the typical spread stays below approximately 1.0 to 1.2 pips during active sessions. On the Standard/Micro account, the 1.0-pip minimum is on the higher end for scalping strategies, particularly those targeting small moves.
For dedicated scalpers, brokers offering raw-spread accounts with per-lot commissions (like Exness Raw Spread at 0.0 pips + $3.50/side) may provide lower total costs than XM’s spread-only model. XM does not offer a raw-spread or ECN-style account. If your strategy depends on sub-1-pip spreads consistently, test XM’s Ultra Low account with a small deposit before committing.
For day traders with wider profit targets (20+ pips), XM’s Standard or Ultra Low spreads are generally adequate. The spread becomes a smaller percentage of your overall trade P&L as your target widens.
How to Check XM Spreads in Real Time
You do not need to rely on advertised figures. You can check XM’s live spreads directly using these methods:
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MT4/MT5 Market Watch. Open a demo or live account, go to the Market Watch panel, right-click, and select “Spread.” A column showing the live spread in points (not pips) appears for every instrument. Divide by 10 for 5-digit brokers to convert points to pips.
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MT4/MT5 Symbol Specification. Right-click any symbol in Market Watch and select “Specification.” This shows the contract details including the current spread.
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XM’s website. XM publishes real-time spread data on its instrument pages, though access was intermittent during our research period.
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Third-party spread comparison tools. Services like Myfxbook broker spread comparison aggregate live spread data across brokers, including XM.
For the most accurate picture, monitor spreads across different times of day and different market conditions. A demo account on XM’s MT5 platform is the fastest way to see real spreads without risking capital.
Factors That Affect XM Spread Width
XM uses variable spreads, so the width changes throughout the day. Several factors cause spreads to widen or tighten.
Liquidity. Major pairs like EUR/USD have the tightest spreads during the London-New York overlap (13:00 to 17:00 GMT) when trading volume is highest. Spreads widen during low-volume sessions, particularly the late Asian session.
Volatility. High-impact news events (Non-Farm Payrolls, central bank rate decisions, CPI releases) cause temporary spread widening across all brokers, including XM. Spreads may widen to several times their normal level for seconds or minutes around the release.
Instrument type. Exotic currency pairs (USD/TRY, USD/ZAR, EUR/TRY) carry significantly wider spreads than majors. Commodities and indices have their own spread structures. Gold (XAU/USD) tends to have wider spreads in absolute terms but is still a high-volume instrument.
Account type. As covered above, Ultra Low accounts receive tighter spreads than Standard/Micro accounts at all times.
XM entity. XM operates under multiple regulatory entities (CySEC, ASIC, Belize FSC, DFSA, FSCA). Spreads may vary slightly depending on which entity your account is registered with, though XM does not publicly document these differences.
XM Spreads FAQ
What is the minimum spread on XM?
The minimum spread on XM is 0.6 pips on Ultra Low accounts and 1.0 pip on Standard and Micro accounts. These are the best-case figures observed under peak liquidity conditions. Typical (average) spreads are wider. XM does not charge commissions on any account type, so the spread is your complete per-trade cost. Based on typical market conditions, average EUR/USD spreads run approximately 1.6 pips on Standard accounts and 0.8 pips on Ultra Low accounts during active trading sessions.
Does XM charge commission on any account?
No. XM uses a spread-only pricing model across all account types (Micro, Standard, Ultra Low, and Shares). There is no per-lot commission. This simplifies cost calculation but means the spread must cover XM’s revenue, so spreads may be wider than raw-spread brokers that charge a separate commission.
Are XM spreads fixed or variable?
XM spreads are variable (floating). They change based on market liquidity, volatility, and the time of day. The minimum spreads advertised by XM represent the tightest spreads observed, not guaranteed rates. During high-impact news events or low-liquidity periods, spreads can widen significantly beyond the stated minimums.
How do XM spreads compare to Exness?
Exness advertises lower minimum spreads than XM on Standard accounts (from 0.3 pip versus XM’s 1.0 pip) and offers raw-spread accounts starting from 0.0 pips plus commission. On paper, Exness appears cheaper for spread-sensitive traders. However, total trading cost depends on average spreads, execution quality, slippage, and swap rates, not just advertised minimums. For a full comparison, see our XM vs Exness analysis.
Which XM account has the tightest spreads?
The Ultra Low account (both Micro and Standard lot sizes) offers the tightest spreads at XM, starting from 0.6 pips. The trade-off is a $50 minimum deposit and no eligibility for XM’s deposit bonus program. If you deposit less than $50 or want the bonus, the Micro or Standard account (from 1.0 pip) is your option.
Do XM spreads widen on weekends or overnight?
XM does not offer weekend trading on most instruments, so spreads during market-closed hours are not applicable. However, spreads do widen during low-liquidity periods, particularly at the daily rollover time and during the late Asian session when fewer participants are active. If you hold positions through the rollover, be aware that the spread at that moment may be wider than during peak hours. Day traders who close positions before the New York session ends avoid this widening entirely.
What is XM’s spread on gold (XAU/USD)?
XM’s minimum spread on gold (XAU/USD) is approximately 3.5 pips on Standard and Micro accounts. Gold spreads tend to be wider than major forex pairs because of the instrument’s higher volatility and wider underlying market spreads. During high-impact events affecting gold prices (such as Federal Reserve announcements or geopolitical developments), the spread can widen significantly beyond the minimum. If gold is a core part of your trading, compare XM’s gold spreads against other brokers on our broker comparison page.
Can XM’s deposit bonus offset the cost of wider spreads?
Yes, for eligible accounts. XM’s deposit bonus (available on Micro and Standard accounts only) adds non-withdrawable margin credit to your account. While the bonus does not directly reduce spreads, the additional margin acts as a buffer against trading costs. For example, if your deposit bonus adds $500 in margin credit, that extra cushion can absorb spread costs over many trades, effectively subsidizing your trading activity. However, the bonus comes with volume requirements that must be completed before profits can be withdrawn. Evaluate whether the net value of the bonus exceeds the spread cost of the required turnover using our bonus calculator.
This article is part of the XM broker hub. For deposit and funding information, see the XM minimum deposit guide. For withdrawal processes, read the XM withdrawal guide. Compare XM against other brokers on our comparison page or browse all reviewed brokers in the broker directory. For bonus-specific details, visit the XM bonus page.
Last verified: June 2026. Spread figures sourced from the forex-bonus.com Broker Matrix and third-party references. XM’s website experienced TLS certificate errors during our research period, so data could not be confirmed directly on xm.com. Live spread testing across XM account types is planned and will be reflected in future updates to this page. Always confirm current spreads on XM’s MT4 or MT5 platform before trading.