XM Ultra Low Account: Spreads, Free Swap & Trading Guide

Among the various account types offered by XM, the Ultra Low account is one of the most popular choices among intermediate to advanced traders who want to minimise their trading costs. Its standout feature is the “Ultra Low” spread — true to its name — at roughly half the spread of the Standard account. Additionally, 28 major currency pairs plus gold and silver are swap-free (no swap fees), making it an ideal choice for high-frequency traders such as day traders and scalpers, as well as those holding positions over the medium to long term. The account offers up to 1,000× leverage, zero trading commissions, a transparent cost structure, and even a Micro account option.

This guide covers everything you need to know about the XM Ultra Low account — from its core specifications and trading conditions, to a detailed comparison with the Standard account and which trading styles it suits best. Narrow spreads, swap-free privileges, leverage limits, available bonuses and promotions, plus a step-by-step walkthrough from account opening to your first trade — it’s all here in this comprehensive guide to getting the most out of your XM Ultra Low account.

The Ultra Low account supports trading across more than 1,500 financial instruments — including 51 currency pairs, precious metals, cryptocurrencies, oil and gas, stock indices, and CFD shares. A Micro account option is also available, allowing trading with as little as 100 currency units. This makes it an excellent choice not only for cost-conscious intermediate to advanced traders, but also for beginners who want to trade frequently with a smaller initial capital.

The table above shows the specifications for the Ultra Low account only. If you’d like to compare it with other XM account types such as the Standard account, please refer to the XM account type comparison guide, which includes a full account type comparison table and recommendations to help you choose the right account alongside this guide.

The standout feature of the Ultra Low account is its exceptionally tight spreads — true to the account’s name. Spreads on major currency pairs are set at approximately half those of the Standard account: for example, EURUSD averages just 1.0 pips and GOLD averages 1.6 pips, placing it among the tightest spreads in the industry. There are also no trading commissions of any kind, meaning the displayed spread represents your total trading cost. This allows high-frequency traders to significantly reduce their overall costs over time.

You can view the full spread list for all XM financial instruments in the XM spread guide. It’s a comprehensive guide to XM spreads, covering the latest spreads per instrument, how to calculate spread costs, and a comparison table by account type.

One of the most compelling benefits of the Ultra Low account is its “Free Swap” feature. With this privilege, no swap fees (overnight interest differentials) are charged when holding positions in 28 major currency pairs and gold and silver (GOLD, SILVER) overnight. Normally, holding a position overnight incurs a swap charge based on the interest rate differential between two currencies. However, for instruments covered under the Free Swap programme, this adjustment does not apply — making it a significant advantage when planning medium- to long-term trading strategies.

The Free Swap privilege substantially reduces costs for traders looking to profit from medium- to long-term price movements, or for those running automated trading systems (EAs) that hold positions for extended periods. This benefit is exclusive to the Ultra Low account and applies to the 28 major currency pairs plus gold and silver listed above.

For financial instruments not covered by the Free Swap programme, standard swap charges apply. Below is a list of swap rates for the key financial instruments available on the Ultra Low account.

For more details on XM swap fees — including triple swap days, calculation methods, and the latest rates for each currency pair — please refer to the XM swap points guide below. It will help you plan your medium- to long-term trading strategies more effectively.

The XM Ultra Low account offers leverage of up to 1,000× — the same as the Standard account. This leverage allows you to hold large trading positions with a relatively small margin. For example, with 1,000× leverage, you can trade a position worth $1,000 USD with just $1 USD in margin. Below is a table showing leverage levels and required margin for XM’s key financial instruments.

For full details on XM’s margin requirements and leverage — including margin tables for all instruments and calculation methods — please see the XM leverage and margin guide below. This will help you manage your capital effectively and trade with greater confidence.

The Ultra Low account gives you access to more than 1,500 financial instruments, including 51 currency pairs, precious metals, CFD shares, stock indices, commodities, oil and gas, and cryptocurrencies. This breadth allows traders to deploy a wide variety of strategies across different market conditions and economic events. To make the most of the tight spreads and Free Swap privileges, we recommend building your trading strategy around the major currency pairs, gold, and silver that are included in the Free Swap programme — maximising your cost efficiency from the outset.

The best way to explore the full range of financial instruments available on the XM Ultra Low account is to open a Demo Account. XM’s demo accounts are completely free and provide an excellent environment for testing your strategies under real market conditions — without any financial risk. Demo accounts use live market price data, allowing you to trial different instruments and trading strategies with confidence. You can open an XM demo account in just a few minutes using the button below.

The XM Ultra Low account uses a Market Execution system, meaning orders are processed instantly. XM’s trading servers are highly stable, with virtually no erratic server responses or slippage. This robust execution environment ensures a consistent trading experience even during periods of high volatility — such as major news announcements or rapidly moving markets.

XM’s order execution capability is at the forefront of the industry, with a fill rate of 99.8%. Some brokers may appear to offer tighter spreads on paper, but slippage during live trading can significantly increase your actual trading costs. With XM’s high-quality execution environment and stable trading servers, orders are filled at the displayed price — keeping your real trading costs consistent and predictable. This level of execution reliability is a critical advantage for traders who operate at high frequency, such as day traders and scalpers.

The XM Ultra Low account requires a minimum deposit of just 5 USD — the same as other account types — making it easy for beginners to get started. The stop out level is set at 20%, meaning positions will be automatically closed when the account’s margin maintenance ratio falls below this threshold, limiting potential losses.

►Complete XM Deposit Guide

XM operates a dynamic leverage system tied to available margin, meaning your maximum leverage adjusts automatically based on the margin in use. Specifically, once available margin exceeds $40,000 USD, maximum leverage is capped at 500×; above $80,000 USD it is limited to 200×; and above $200,000 USD it is automatically capped at 100×. This mechanism ensures appropriate risk management as account balances grow, maintaining a safer trading environment.

XM also employs a Zero Cut system, which means you will never lose more than the funds in your account — even during periods of extreme market volatility. You will never incur losses beyond your deposited amount under any circumstances. This allows traders using high leverage to focus on their strategies with complete peace of mind.

►Important Notes on Leverage When Using Bonuses
►Important Notes on Leverage Restrictions When Trading Cryptocurrencies

On the Ultra Low account, 1 standard lot equals 100,000 currency units, while on the Micro account it equals 1,000 currency units. The minimum trade size is 0.01 lots (1,000 currency units) for the standard account, and 0.1 lots (100 currency units) for the Micro account. This flexibility enables effective capital management even with smaller account balances.

These are the trading conditions for the Ultra Low account. If you’d like to compare trading conditions across all XM account types, please refer to the article below.

The Ultra Low account also comes with a range of additional services to enhance your trading environment: a free VPS service for running automated trading systems (EAs) with maximum stability, Trading Contests where you can put your skills to the test and compete for prizes, and a Referral Programme that rewards you for introducing friends to XM. These services add further value to the Ultra Low account and help create a more complete trading experience.

While the Ultra Low account is not eligible for deposit bonuses (up to $10,500 USD), this is a deliberate trade-off — made in exchange for the significantly tighter spreads and Free Swap privileges. For traders who operate at high frequency, such as day traders and scalpers, the long-term savings from reduced spreads typically outweigh the one-time value of a deposit bonus. For example, a trader who executes multiple trades per day over the course of a year will save far more through narrower spreads than the temporary value of any deposit bonus received.

To start trading with the XM Ultra Low account, you’ll need to register with XM and complete identity verification. The steps below are clickable links — simply click each one for a detailed guide to that stage of the process.

Once identity verification is complete, you will be eligible to receive the $30 Trading Bonus on all account types except Shares accounts. When you complete registration, an MT5 Standard account denominated in USD will be opened automatically. If you’d like to receive the $30 Trading Bonus on an Ultra Low account, you will need to open an additional account after verification is complete.

►How to Claim the XM $30 Trading Bonus
►Benefits of Opening Additional Accounts with XM
►XM Account Type Comparison & Recommendations