XM Fees and Spreads

 

XM fees and spreads review

 

XM Fees and Spreads

 

X Open Hub fees spreads and commissions start from $0 with variable spreads from as low as 1 pip.

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:

  • Micro Account – minimum deposit of $5, leverage from 1:1 to 1:888, spreads from as low as 1 pip and zero commissions.
  • Standard Account – minimum deposit of $5, leverage from 1:1 to 1:888, spreads from as low as 1 pip and zero commissions.
  • XM Ultra Low Account – minimum deposit of $50, leverage from 1:1 to 1:888, spreads from 0.6 pips and zero commissions.
  • Shares Account – minimum deposit of $10,000, no leverage and commissions charges as per the underlying exchanged from $1 up to $9.

 

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.

 

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 Muslim faith and who operate under the Sharia Law.

XM does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.

 

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.

 

Pros and Cons

 

PROS CONS
1.      Tight and competitive spreads 1.      None noted
2.      Low minimum initial deposit amount  
3.      Zero commissions with most accounting options  
4.      Deposit fees and withdrawal fees are not charged  

 

FAQ

 

How many instruments can I trade with XM?

You can trade the following instruments:

  • 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
  • MetaTrader 5

 

Does XM offer leverage?

Yes.

Traders have access to leverage from 1:100 to 1:888 depending on the account.

 

What spreads can I expect with X Open Hub ?

Spreads from as little as 0.0.

 

Does X Open Hub charge commission?

Yes.

Commissions are charged when using the Shares Account depending on the underlying asset, ranging from $1 up to $9.

 

Is X Open Hub regulated?

Yes, XM is regulated by the highly reputed CySEC in Cyprus, ASIC in Australia, DFSA in Dubai, FCA in the UK, and IFSC in Belize.

Is X Open Hub a recommended forex trading broker for experts and beginners?

Yes, XM is suitable for both beginner and expert traders.

 

What is the overall rating out of 10 for X Open Hub ?

9/10