Intro
XM Overview
Generally speaking, XM 's fees are low. The broker either charges no fees for services that carry a price tag at other brokers, or if it does, the fees are usually small. This means you can use XM even if you trade frequently, such as multiple times a week or daily.
XM has low trading fees for CFDs and charges no withdrawal fees. On the other hand, forex and stock index fees are average and there is an inactivity fee.
In this article we analyze:
Visit XM
74.89% of retail CFD accounts lose money
Trading fees
XM 's trading fees are low. The broker keeps a low cost-profile by using the MetaTrader 4 and MetaTrader 5 platform with low commissions. The available accounts, the XM Standard, Micro, and Ultra-Low make money by charging 1.7 pips on the spread while XM Zero account owners pay a flat commission of $3.5 per lot plus a small spread cost.
| Asstes | Fee level | Fee terms |
|---|---|---|
| S&P 500 CFD | Low | The fees are built into the spread, 0.7 points is the average spread cost during peak trading hours. |
| Europe 50 CFD | Low | The fees are built into the spread, 2.6 points is the average spread cost during peak trading hours |
| EURUSD | Low | With Standard, Micro, and Ultra Low accounts the fees are built into the spread. 1.7 pips is the Standard account's average spread cost during peak trading hours. With XM Zero accounts, there is a $3.5 commission per lot per trade and a small spread cost. |
| Inactivity fee | Low | $15 one-off maintenance fee after one year of inactivity, followed by a $5 per month fee if the account remains inactive. |
| US stock fee | Average | Available only for clients onboarded under IFSC. The commission is 0.04% with a $1 minimum. |
The following table contains our benchmark calculations for XM’s trading fees compared to its closest competitors.
XM pricing
| XM | FxPro | FXTM | |
|---|---|---|---|
| Apple benchmark fee | $5.4 | $9.4 | $29.5 |
| Vodafone benchmark fee | $1.2 | $14.7 | - |
| EURUSD benchmark fee | $8.8 | $8.5 | $8.3 |
It is super hard to compare trading fees for CFD brokers. How did we at BrokerChooser go about it? Instead of quoting long fee tables, we compare brokers by calculating all the fees of a typical trade for three assets.XM fees benchmarked
We chose the assets cleverly and arbitrarily:
- Apple, a large US stock
- Vodafone, a large European stock
- EURUSD, a popular currency pair
The typical trade means buying a position, holding it for one week, and closing it. For volume, we chose a $2,000 position for the stocks and $20,000 for the EURUSD. This catch-all benchmark includes spreads, commissions, and financing costs for all brokers.
Visit XM
74.89% of retail CFD accounts lose money
XM non-trading fees
Non-trading fees at XM are average. This means that some of the non-trading fees are high, while others are low or not charged at all.
| XM | FxPro | FXTM | |
|---|---|---|---|
| Withdrawal fee | $0 | $0 | $3 |
| Deposit fee | $0 | $0 | $0 |
| Inactivity fee | Yes | Yes | Yes |
| Account fee | No | No | No |
XM deposit fee
The deposit fee at XM is $0 regardless of the depositing method, be it bank transfer, credit card, debit card, or an electronic wallet.
| XM | FxPro | FXTM | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
| Deposit fee | $0 | $0 | $0 |
XM inactivity fee
There is no account fee at XM, however the broker charges an inactivity fee in the form of a $15 one-off maintenance fee after 90 days of inactivity, followed by a $5 monthly fee if the account remains inactive. With this in mind, you need to be strategic about your trading activity to avoid getting charged after a long period of no trades. The fact that XM charges an inactivity fee makes it less ideal for you if you are a buy-and-hold investor even if the inactivity fee is low.
| XM | FxPro | FXTM | |
|---|---|---|---|
| Inactivity fee | Yes | Yes | Yes |
| Inactivity fee description | $15 one-off maintenance fee after 90 days of inactivity, followed by $5 per month fee if the account remains inactive. | $15 one-off account maintenance fee and $5 monthly fee after 6 months of inactivity | $5 per month after 6 months of inactivity |
XM
withdrawal fee
XM does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.
| XM | FxPro | FXTM | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
| Withdrawal fee with bank transfer | $0 | $0 | $3 |
Financing rates
XM financing rates are low. If you want to trade on margin and prefer to hold your positions for long, financing costs can be significant.
| XM | FxPro | FXTM | |
|---|---|---|---|
| Apple CFD financing rate | 3.2% | 2.9% | 3.9% |
| Vodafone CFD financing rate | 3.1% | 2.8% | - |
| EURUSD financing rate | 1.6% | 1.5% | 1.6% |
| EURGBP financing rate | 1.6% | 1.5% | 1.6% |
Currency conversion fee
The currency conversion fee consists of the exchange rate received from liquidity providers plus a mark-up. XM will charge a currency conversion fee for all trades involving instruments denominated in a currency different from the currency of your account.
Visit XM
74.89% of retail CFD accounts lose money
-> Back to full XM review 2022
Further reading:
- About XM the company
- XM safety
- XM deposit guide
- XM withdrawal guide
- XM accounts
- Stock trading and trading platforms at XM
- XM competitors
Comments