What Account Types and Fees Does XM Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Micro Account |
Beginners |
Low minimum deposit, small trade sizes |
Best for traders with limited capital |
| Standard Account |
Intermediate to Experienced Traders |
Commission-free trading, larger lot sizes |
Ideal for those seeking simplicity |
| XM Ultra Low Account |
High-Volume Traders |
Tight spreads, commission per lot, high leverage |
Best for scalpers and day traders |
| Shares Account |
Investors |
Direct stock trading, market-dependent spreads |
Requires higher minimum deposit |
| Islamic Account |
Muslim Traders |
Swap-free trading, compliant with Sharia law |
Available for all account types |
| Demo Account |
New Traders |
Practice trading risk-free with virtual funds |
Great for testing strategies before real trading |
Account Opening Process
To open an account with XM, you will go through several steps. First, you need to provide your personal information, including your name, email, and phone number. Next, you will submit employment information and details about your financial situation, which helps XM assess your trading profile. An important part of the process is identity verification; you will be required to upload a valid ID and a proof of address, such as a utility bill. After completing these steps, you can start trading immediately. Additionally, XM provides flexibility, allowing you to upgrade to a professional account later if you meet the qualifications.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| CFDs (Stocks) |
1.0 |
$0 |
Market-dependent spreads |
| CFDs (Indices) |
1.5 |
$0 |
Competitive fees for indices |
| CFDs (Commodities) |
2.0 |
$0 |
Standard trading costs apply |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
When trading with XM, you should be aware of additional costs. There are no deposit fees, but withdrawal fees may apply depending on the method used. XM also has an inactivity fee if your account is dormant for an extended period. While there are no platform usage fees, overnight positions may incur interest, known as swap rates. Lastly, if you are trading in a currency different from your account currency, currency conversion fees may apply.
