All Share (J203) = 89 062
Rand / Dollar = 18.40
Rand / Pound = 23.22
Rand / Euro = 19.23
Gold (usd/oz) = 2 927.83
Platinum (usd/oz) = 987.90
Brent (usd/barrel) = 75.88
Trade +10,000 CFDs with Tight Raw Spreads. – Trade Now!

XM Fees and Spreads

XM Fees & Spreads Review
 

XM Fees and Spreads trading involves commissions from $0 up to $3.5 / R56 ZAR depending on the account traders select and spreads from as low as 0.6 pips. The minimum deposit fee is $5 / R90 ZAR.

 

🔎 XM Account🥇 Micro Account🥈 Standard Account🥉 XM Ultra Low Account🏅 Shares Account
💰 Min DepositUSD 5 / ZAR 90USD 5 / ZAR 90USD 5 / ZAR 90USD 10,000 / ZAR 180986
📍 Negative Balance Protection☑️ Yes✅ Yes☑️ Yes✅ Yes
🔃 Spreads from1 Pip1 Pip0.6 PipsAs per the underlying exchange
💸 Commission FeeNoNoNo☑️ Yes
☪️ Islamic Option☑️ Yes✅ Yes☑️ Yes✅ Yes
🚀 Open an Account👉 Open Account👉 Open Account👉 Open Account👉 Open Account

 

Min Deposit

USD 5

Regulators

FSC, CySEC, ASIC,

Trading Platform

MT4, MT5

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

XM Fees and Spreads- 8 key points quick overview:

  1. ☑️XM Fees and Spreads
  2. ☑️XM at a Glance
  3. ☑️Other Fees
  4. ☑️Broker Fees
  5. ☑️Customer Reviews
  6. ☑️Pros and Cons
  7. ☑️Conclusion
  8. ☑️Frequently Asked Questions

 

XM Fees and Spreads

XM Fees and Spreads

 

XM has a low and incredibly competitive spread when compared to what other brokers offer by offering a spread list from as low as 1 pip along with zero commissions charged on trades on most accounts, except the Shares Account.

 

XM trading fees are according to the type of account that the trader chooses and the options along with the spread list, leverage, minimum deposit required, and commissions are as follows:

🔎 Account💴 Fees, Spreads & Commissions
📉 Standard AccountMinimum deposit of $5, leverage from 1:1 to 1:1000, spreads from as low as 1 pip, and zero commissions.
💰 XM Ultra-Low AccountMinimum deposit of $50, leverage from 1:1 to 1:1000, spreads from 0.6 pips, and zero commissions.
🏦 Shares AccountMinimum deposit of $10,000, no leverage and commissions charges as per the underlying exchange from $1 up to $9.

 

The spread is the difference between the bid and the price of a financial instrument and brokers have various ways in which this is offered; it can either be fixed, variable, or floating.

Fixed spreads are not subjected to factors such as market conditions and may stay the same, depending on the broker’s own conditions whereas other spreads may change, either increasing or decreasing, although, the lowest possible spreads are 0.0 pips.

Different brokers offer different spreads as part of their trading conditions and spreads can be classified either as tight, where they are lower, or wide, where the pips are more. For instance, 0.0 pips are tight whereas 4.0 pips are wider.

Traders will need to consult the spread list of the broker prior to opening an account to verify this as it forms part of trading fees through which the broker makes its commissions for facilitating trading activities.

The minimum deposit that XM requires to open an account is $5 which is substantially lower than what brokers who offer similar trading conditions require.

This is merely the minimum required to open an account, and traders will have to verify the margin requirements on certain trading options to ensure that they fund their account with enough to cover these margins, despite having the option of using leverage. XM offers real or demo accounts.

Leveraged and margined trading can be an advantage for traders with smaller initial deposits, but traders need to ensure that they are adequately familiarized with both the rewards and the risks involved with trading using these tools and features.

In addition to using this, traders need to beware of the risk of losing amounts that may exceed their initial deposits and it is imperative to ensure that the broker offers negative balance protection.

The purpose of this is to minimize, or eliminate, the chance of incurring losses that can put the trading account in a substantial negative, making the trader liable to cover the costs payable to the broker to bring their account back up to zero.

 

XM At a Glance

🔎BrokerXM
Company Information
📅Year Founded2009
🧑🏻‍💻Amount of staffOver 900
📌Current CEOConstantinos Cleanthous
🌟Founder/sConstantinos Cleanthous
👩‍💻Amount of active tradersOver 10 mil
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationCySEC, ASIC, IFSC, DFSA, FCA
🌎Country of regulationCyprus, Australia, Belize, Dubai, UK
💻Account SegregationYes
🪫Negative balance protectionYes (for European clients under CySEC regulation)
Two-step AuthenticationYes
🔋Investor Protection SchemesFSCS (up to £85,000) for UK clients under XM UK (regulated by FCA)
Account Types and Features
➕AccountsMicro, Standard, XM Zero (all come in MT4 & MT5 versions)
💳Institutional AccountsYes
👨‍💼Managed AccountsNot offered
📇Minor account currenciesUSD, EUR, GBP, JPY, etc.
💰Minimum DepositFrom USD 5
Trading Conditions
🕞Average deposit/withdrawal processing time1 business day (may vary)
🪙Fund Withdrawal Fee$0
📊Spreads from0.8 pips
💸CommissionsNo commission on trades (except for stock CFDs)
💱Number of base currencies supportedMore than 11 (USD, EUR, GBP, AUD, etc.)
🚀Swap FeesOvernight financing fees apply
📈LeverageUp to 1:1000
📏Margin requirementsAs low as 1%
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeUltra-fast (average under 1 second)
📆VPS HostingYes (free if minimum requirements met)
Trading Instruments
🧾CFDs-Total OfferedOver 1,000+
🗠CFD Stock IndicesMajor global indices 30+(e.g., S&P 500, FTSE 100)
⚖️CFD CommoditiesPopular commodities 15+ (e.g., gold, oil, natural gas)
📜CFD SharesYes,600+ Shares of listed companies (exact number depends on regulations)
WatchlistYes
📱Trade AlertsYes
🔄Trading Stocks with GPYes
🔄Trading Indices with GP Yes
Swap on Trading BoardYes
Deposits and Withdrawals
💳Deposit OptionsCredit/debit cards, bank transfers, electronic wallets (Skrill, Neteller etc.), regional options
💵Withdrawal OptionsCredit/debit cards (limited to amount deposited with them), bank transfers, electronic wallets (subject to original deposit method), regional options
🎁Welcome BonusYes (region dependent)
Trading Platforms and Tools
🔧Stop-loss InstrumentYes
💻Trading PlatformsMT4 (MetaTrader 4), MT5 (MetaTrader 5), XM WebTrader
👩‍💻OS CompatibilityWindows, Mac, Android, iOS
🖥️Forex trading toolsTechnical indicators
Market analysis tools
Auto trading (Expert Advisors - MT4 only)
Algorithmic trading (limited - MT5 only)
Trading calculators
Economic calendar
Sentiment analysis (limited)
Customer Support
🗣️Live chat availabilityYes, 24/5
📱Customer Support email addresssupport@xm.com
📞Customer Support Contact Number35725029933
🗣️Languages supported on Website30+English, Malay, Chinese (Simplified & Traditional), Greek, Hungarian, Russian, Indonesian, French, Italian, Swedish
Educational Resources and Support
📍Beginner Trader Friendly UXYes
🖺Forex courseYes, XM offers a forex course for beginners.
🧏‍♀️WebinarsYes
📚Educational ResourcesYes, XM provides a library of educational resources including articles, videos, and glossaries.
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partners10000+
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes, XM sponsors various events and teams
🪙Rebate programMay offer occasional rebate promotions, check their website for current offers
🗞Community ForumNo
Official Website and Social Media
📧Official Website Addresswww.xm.com
📱Official Facebook PageYes
📱Official Twitter PageYes
📱Official YouTube ChannelYes
📱Official LinkedIn PageYes
📱Official Instagram PageYes
South African Trader Specific Information
Does XM Accept South African Traders?Yes, XM accepts South African traders. They have a dedicated South African branch, XM ZA (Pty) Ltd, which is authorized by the Financial Sector Conduct Authority (FSCA) with authorization number 49976.
Is XM regulated by the South African regulatory body (FSCA)?Yes, For South African clients, XM operates under the regulation of the FSCA through their South African branch, XM ZA (Pty) Ltd. This ensures adherence to local regulations for client protection.
Does XM offer an Affiliate Program for South African Traders?Yes, XM offers an affiliate program for South African traders. You can find more information about it on the XM ZA website or by contacting their support team.
Does XM allow opening trading accounts in ZAR (South African Rand)?Yes, XM allows opening trading accounts in ZAR (South African Rand). This makes it convenient for South African traders to deposit, trade, and withdraw funds without currency conversion fees.
👉Open Account👉Open Account

 

Other Fees

 

Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.

Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.

XM offers the option of an Islamic account to traders who are of the Muslim faith and who operate under Sharia Law.

The purpose of an Islamic Option on accounts to Muslim traders is to ensure that they are not subjected to interest rates, of which overnight fees are only one, which is prohibited by the Sharia law as it is seen as exploitative or wasteful.

In ensuring that there is a swap-free, or Islamic account, option, brokers such as XM more adequately cater to traders, such as Muslim Traders, amidst others who may be restricted from trading due to their religion or other beliefs.

XM does not offer traders spread betting and therefore spread betting fees are not applicable to this broker. Very few ECN brokers, if any at all, offer spread betting as ECN brokers work according to a different trading facility.

There are, however, brokers who are ECN, STP, NDD, Market Makers, or a combination of all, which allows for the facilitation of various traders in providing a variety of trading models according to which they operate, which is advantageous.

 

Min Deposit

USD 5

Regulators

FSC, CySEC, ASIC,

Trading Platform

MT4, MT5

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Broker Fees

 

XM does not charge any deposit fees or withdrawal fees internally, but traders will need to verify additional fees on transactions with their payment provider.

There is no indication of whether XM charges any additional broker fees such as inactivity fees or fees pertaining to account maintenance and management, according to research in South Africa. View XM’s sign-up bonus.

 

Customer Reviews

 

🥇 Good Experience.

I have had a good experience with this broker thus far.
No problem with withdrawals or deposits as they let you withdraw back to the bank account you used to deposit with. In addition, they offer the best and the fastest customer support.

 

🥈 Best Broker (Bonuses, Withdraws, Costs and Support)

XM is a good broker in terms of withdrawals, customer support, and bonuses. However, they could improve on their spreads, otherwise everything else is fantastic.

 

🥉 Good for Starters

One of the best brokers to start your forex journey. I think most newbies have tried this broker due to their heavy marketing. So far they have honored all my profit withdrawals without any problems. Customer support is very good and the platform is good too.

 

XM User Review Chart

 

Pros and Cons

✅Pros❌Cons
Tight and competitive spreadsNone noted
Low minimum initial deposit amount
Zero commissions with most accounting options
Deposit fees and withdrawal fees are not charged

 

Conclusion

XM Fees and Spreads is considered a safe, trustworthy broker with average risk with spreads as low as 0.6 pips, leverage ranging from 1:100, and a trust score of 84 out of 99. XM Group doesn’t operate a bank and is not publicly traded but is authorized by two tier-1 regulators (high trust)

 

You might also like: XM Review

You might also like: XM Account Types

You might also like: XM Demo Account – Step by Step

You might also like: XM Minimum Deposit

You might also like: XM Sign up Bonus

 

sa shares instagram

 

Frequently Asked Questions

 

What spreads can I expect with XM?

XM offers tight spreads as low as 0.6 pips on all major currency pairs irrespective of account types and trade sizes. 

 

Does XM charge withdrawal fees?

No withdrawal fee is charged, except for bank withdrawals below $200 /ZAR 3000 which incur a $15 /ZAR 225 fee.

 

Does XM charge commission?

Yes, Commissions are charged when using the Shares Account depending on the underlying asset, ranging from $1 up to $9. / ZAR 15-135.

 

How many instruments can I trade with XM?

Forex  / Stock CFDs / Commodities / Equity Indices / Precious Metals / Energies, and / Shares

 

Which platforms are supported by XM?

XM provides the following popular trading platforms: MetaTrader 4, and MetaTrader 5

 

Does XM offer leverage?

Yes, traders have access to leverage from 1:100 to 1:1000 depending on the account.

4.1/5 - (30 votes)

Written by:

Louis Schoeman

Edited by:

Skerdian Meta

Fact checked by:

Arslan Butt

Updated:

November 24, 2024

Written by:

Louis Schoeman

Featured SA Shares Writer and Forex Analyst.

I am an expert in brokerage safety, adept at spotting scam brokers in mere seconds. My guidance, rooted in my firsthand experience with brokers and an in-depth understanding of the regulatory framework, has safeguarded hundreds of users from fraudulent brokerage activities.

Edited by:

Skerdian Meta

Leading Analyst

Skerdian Meta FXL’s Heading Analyst is a professional Forex trader and market analyst and has been actively engaged in market analysis for the past 10 years. Before becoming our leading analyst, Skerdian served as a trader and market analyst at Saxo Bank’s local branch, Aksioner, the forex division and traded small investor’s funds for two years.

Fact checked by:

Arslan Butt

Commodities & Indices Analyst

Arslan Butt, a financial expert with an MBA in Behavioral Finance, leads commodities and indices analysis. His experience as a senior analyst and market knowledge (including day trading) fuel his insightful work on cryptocurrency and forex markets, published in respected outlets like ForexCrunch.

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