Every XM cost at a glance, from XM's Help Center.

Every XM cost at a glance, from XM's Help Center.

XM's pricing is simple on paper. Its Help Center says it charges no commission or extra fees on trading: the only cost you pay is the spread, visible before you open or close a trade. The exceptions are the Shares account, which charges commission, swaps on positions held overnight, and a dormancy fee of $10 a month if your account is inactive for more than 90 days. Deposits and withdrawals carry no XM fees.

Once you know each cost, you can choose the right account and avoid charges that have nothing to do with trading.

CommissionNone on Standard and Ultra Low; charged on Shares
SpreadYour main trading cost
SwapsOn positions held overnight (triple on Wednesday)
Deposit and withdrawal feesNone from XM
International wiresXM covers its bank's fees at $200 or more
Dormancy fee$10 a month after 90 days without activity

XM fees at a glance

CostWhen you pay itHow to reduce it
SpreadEvery tradeUse Ultra Low; trade liquid hours
SwapPositions held past rolloverClose before rollover; check swap-free instruments
CommissionShares account onlyCompare with stock CFDs
Dormancy feeAfter 90 days of no activityKeep some activity or empty the account
Currency conversionDeposits in another currencyFund in your account's base currency
Third-party feesSome banks and card processorsChoose low-cost payment methods

Spreads: your main cost

On Standard and Ultra Low accounts, the spread is the only trading charge. XM's account table lists spreads as low as 1.6 pips on EUR/USD on Standard and 0.8 on Ultra Low; gold as low as 4 and 2.4. Its published averages are higher, and XM notes that spreads can widen around news, over weekends and near the end of sessions. Our XM spreads guide lists the averages by instrument.

Swaps and overnight costs

Holding a position past the daily rollover earns or costs a swap. XM calculates forex and spot metal swaps from the tom-next rate minus a mark-up, and stock and index swaps from the local interbank rate minus a mark-up, with three days charged on Wednesday. Futures carry no swaps. Selected instruments are swap-free on the Ultra Low account; our XM Islamic account guide explains how to check which.

The XM inactivity (dormancy) fee

XM's Help Center sets out the rule. An account is dormant after more than 90 days with no activity at all, including trading, deposits, withdrawals, internal transfers, opening accounts and registration activity. Once dormant:

  • XM charges $10 a month, or the whole available balance if it is below $10.
  • No fee is charged if the balance is zero.
  • Any remaining bonuses, promotional credits and XMCs (Traders Club points) are removed.

Separately, an account whose balance stays at zero for more than 90 days is archived, and archived accounts can't be reopened; you simply open a new one.

If you're taking a break of more than three months, withdraw your balance first. An empty account costs nothing.

Deposit and withdrawal fees

XM says it charges no fees on deposits or withdrawals, and covers the fees its own bank charges on international wires of $200 or more. Your card issuer, bank or payment processor may still charge, and exchange rates apply when you deposit or withdraw in a currency other than your account's. XM shows the rate before you confirm in WebTrader or the XM App. Our XM minimum deposit guide and withdrawal guide cover the methods.

Shares account commission

The Shares account, with a $10,000 minimum and no leverage, is the one XM account that charges commission. Stock CFDs on Standard and Ultra Low don't: XM advertises them with zero commission and fractional sizes. Our XM stocks guide compares the two.

US dividend tax on stock and index CFDs

One cost catches people out. Under section 871(m) of the US tax code, non-US residents holding long positions on US stock CFDs, or on indices containing US equities that aren't qualified, are taxed on dividend equivalents at 30%. XM says completing a W-8BEN form in your profile applies a lower treaty rate where one exists. The tax doesn't apply to short positions or to qualified indices such as the Dow Jones, S&P 500, Nasdaq 100 and Russell 2000.

How to keep XM costs low

  1. Pick Ultra Low if you trade often; the spread gap to Standard adds up.
  2. Trade in liquid hours when spreads are tightest.
  3. Close short-term trades before rollover, especially on Wednesday.
  4. Fund in your account's base currency to avoid conversion.
  5. Don't leave a balance sitting in an account you've stopped using.

Moving money between accounts is free

Internal transfers between your own verified XM accounts are instant and free, converted at XM's live rate if the accounts use different currencies. Earnings from XM programmes sit in MyWallet, which can fund a trading account like any payment method; you withdraw from a trading account, not from MyWallet directly.

What 'no hidden fees' doesn't cover

XM's no-fees promise covers its own charges. It doesn't cover your card issuer's or bank's fees, currency conversion when you fund or withdraw in another currency, intermediary charges on some international wires below $200, or taxes such as US dividend withholding on stock CFDs. Check those with your bank and in XM's funding screens before you move money.

XM's headline is no commission, but the dormancy fee is the charge people forget. If you step away from trading, withdraw the balance; it takes minutes and saves $10 every month.
Ranjan NiskrityChief Editor, FX Recap
Illustrative case: Esther, 40, Lagos

Esther left $80 in an XM account while she paused trading for a year. After 90 quiet days the account became dormant and $10 a month was deducted. By the time she logged in again, most of it was gone. She now withdraws to her bank whenever she stops trading for more than a few weeks.

Frequently asked

How do I avoid XM's dormancy fee?

Keep some activity on the account within 90 days, such as a trade, deposit or transfer, or withdraw your balance: no fee is charged when the balance is zero.

Does XM charge for internal transfers?

No. Transfers between your own verified XM accounts are instant and free, converted at XM's live rate if the currencies differ.

Does XM charge commission?

Not on Standard or Ultra Low accounts, where the spread is the only trading charge. The Shares account charges commission.

What is XM's inactivity fee?

After more than 90 days with no activity, the account becomes dormant and XM charges $10 a month, or the remaining balance if it's under $10. No fee is charged on a zero balance.

Does XM charge withdrawal fees?

No. XM charges no deposit or withdrawal fees and covers its own bank's fees on international wires of $200 or more. Your bank or processor may charge.

What counts as activity for XM's dormancy rule?

Trading, deposits, withdrawals, internal transfers, opening additional accounts and registration activity all count.

Are there swaps at XM?

Yes, on positions held overnight, with three days charged on Wednesday. Futures have no swaps, and selected instruments are swap-free on Ultra Low accounts.

Do I pay US tax on XM stock CFDs?

Possibly. Under section 871(m), long positions on US stock CFDs can be taxed on dividend equivalents at 30%, reduced by treaty rates if you complete XM's W-8BEN form.