XM Spread Table: Daily Costs for All Instruments & Accounts

XM’s spread (pips) for each product changes daily, and the most tradeable assets shift from day to day as well. That’s why in this article, we automatically pull the latest XM spreads from MT5 every day and display a table that calculates the spread value of each product in monetary terms.

We also cover everything from the basics of spreads in Forex trading to the unique characteristics of XM’s spreads, how to calculate spread costs, and trading fees for the Shares account. For XM’s official pip value calculator, access it via the button below.

In the foreign exchange market, spreads are typically quoted in pips and represent the primary source of revenue for brokers and banks. The narrower the spread, the lower your trading costs — creating a more favourable trading environment for traders.

A pip is the unit of price movement for a financial instrument. In Forex trading, the smallest unit of price change is called a “Point,” and a value 10 times that is expressed as a “pip.” For example, if the EUR/USD price moves from 1.14235 to 1.14245, that is a movement of 1 pip.

For GOLD — one of the most actively traded instruments in the market — the smallest unit of price movement is the second decimal place, making the first decimal place the pip. If the price moves from 3025.50 to 3025.60, that is equivalent to a 1 pip movement.

Forex traders use pips to measure price movements, profits and losses, and spread sizes. In other words, pips are a critical metric for traders to accurately understand market movements — making it essential to have a solid grasp of this concept.

XM uses a floating spread system to provide traders with a superior trading environment. Unlike fixed spreads, XM’s floating spreads expand and contract in line with market volatility — just like the interbank market. During normal market conditions, floating spreads tend to be tighter than fixed spreads, helping to reduce average trading costs.

XM also receives precise pricing from Liquidity Providers (LPs), and through “fractional pip pricing,” prices can be displayed in increments smaller than 1 pip. By showing prices to 3–5 decimal places, traders can capture profits even from minor price movements — making it an ideal environment for short-term traders.

XM’s spreads differ depending on your account type (Standard or Ultra Low). The Ultra Low account offers industry-leading tight spreads, while the Standard account gives you access to deposit bonuses, the XM Traders Club (XMC), and a range of high-quality bonus promotions.

With the exception of the Shares account (designed exclusively for stock trading), all XM account types charge zero trading commissions. This gives you a simple, transparent cost structure: spread = trading cost.

The XM Ultra Low account is designed for traders who engage in short-term strategies such as scalping and day trading, and for those looking to minimise trading costs. It offers ultra-tight minimum spreads from 0.6 pips with zero commissions, delivering consistently stable average spreads — especially on GOLD and EURUSD.

With the Ultra Low account’s exceptionally tight spreads, you can trade profitably even on small price movements — making it the ultimate environment for scalping and day trading.

Here is the formula for calculating how much a spread (in pips) is worth in monetary terms:

Spread Cost = Spread (points) × Contract Size × Price Decimal Position × Lots Traded × Settlement Currency to USD Exchange Rate

That said, you don’t need to calculate this manually. XM provides a dedicated online calculator that instantly computes your “Pip Value.” Using this calculator, you can easily work out the pip value for any Forex product based on your trade size.

The “Pip Value” is the monetary amount that 1 pip represents in your account currency. Multiply the pip value by the spread (in pips) to get your total spread cost.

Access XM’s calculator via the button below. Use it to estimate your exact costs before entering a trade and plan your strategy with confidence.

Simply enter your trading conditions into the Forex Calculator and it will instantly display the “Pip Value” for each financial instrument.

The latest spreads and spread costs for major currency pairs available to trade on XM. The spreads in this table are updated automatically every day at 19:20, pulling data directly from MT5. You can freely set your lot size and base currency — make the most of this table.

The latest spreads and spread costs for minor and cross currency pairs available to trade on XM.

The latest spreads and spread costs for precious metals such as GOLD available to trade on XM. Just like Forex products, all data is updated automatically every day at 19:20, and lot sizes and base currencies can be freely configured.

The latest spreads and spread costs for cryptocurrencies such as Bitcoin available to trade on XM. Just like Forex products, all data is updated automatically every day at 19:20, and lot sizes and base currencies can be freely configured.

The latest spreads and spread costs for crude oil and gas available to trade on XM. Just like Forex products, all data is updated automatically every day at 19:20, and lot sizes and base currencies can be freely configured.

The latest spreads and spread costs for stock indices available to trade on XM. XM’s stock indices come in both Futures and Cash versions, which use different symbols even for the same underlying product (e.g. “JP225-DEC22” and “JP225Cash”). Products with “○○Cash” in the name are “Cash” contracts, while those with a month abbreviation and number such as “○○-DEC25” are “Futures.” Note that in this listing, suffixes like “-DEC25” are omitted for simplicity.

Futures stock indices have a settlement date and do not incur swap charges, which is why their spreads are set wider compared to Cash contracts.

The latest spreads and spread costs for commodities such as soybeans and corn available to trade on XM. Just like Forex products, all data is updated automatically every day at 19:20, and lot sizes and base currencies can be freely configured.

Turbo Stocks are day-trading stock products that cannot be held overnight. They carry no swap charges and can be traded with high leverage. Turbo Stock spreads are also updated automatically every day at 19:20, and lot sizes and base currencies can be freely configured.

XM allows you to trade thematic indices that bundle stocks around specific themes. Major themes include AI, Electric Vehicles, and Blockchain — enabling you to invest in a broader trend without the need to pick individual stocks. Thematic index spreads are also updated automatically every day at 19:20, and lot sizes and base currencies can be freely configured.

Unlike standard CFD accounts such as the Standard or Ultra Low, the Shares account quotes spreads not in “pips” but in “currency units.” For example, when trading the US stock “Amazon,” if the difference between the sell and buy price is “0.01,” the spread cost is “0.01 USD.”

Trading commissions on the Shares account vary depending on the type of stock being traded. US stocks are charged at 0.04 USD per share (minimum 1.00 USD), whilst UK and German stocks are charged at 0.1% of the trade value (minimum 9.00 USD for UK stocks, minimum 5.00 USD for German stocks). Below, we explain how to calculate trading commissions with clear examples for each market.

The formula for calculating trading commissions on US stocks is straightforward: simply multiply the number of shares traded by the US stock commission rate of 0.04 USD. Note that since a minimum commission of 1.00 USD applies, any trade where the calculated commission falls below 1.00 USD will be charged at the minimum rate of 1.00 USD.

Number of Shares × 0.04 = Trading Commission (USD)

Here are concrete examples of how trading commissions are calculated for US stocks:

The formula for calculating trading commissions on UK stocks is as follows. The commission is 0.1% of the trade value. Since a minimum commission of 9.00 USD applies, any calculated commission below 9.00 USD will be charged at 9.00 USD.

Number of Shares × Opening Price × GBP/USD Exchange Rate × 0.1% = Trading Commission (USD)

Here are concrete examples of how trading commissions are calculated for UK stocks:

The formula for calculating trading commissions on German stocks is as follows. As with UK stocks, the commission is 0.1% of the trade value. Since a minimum commission of 5.00 USD applies, any calculated commission below 5.00 USD will be charged at 5.00 USD.

Number of Shares × Opening Price × EUR/USD Exchange Rate × 0.1% = Trading Commission (USD)

Here are concrete examples of how trading commissions are calculated for German stocks:

That concludes our explanation of XM’s spreads and trading commissions. Understanding spreads and costs accurately is directly linked to optimising your trading strategy and improving long-term profitability. Especially for traders who trade frequently, even small differences in costs can add up to a significant impact — so make sure you have a clear understanding of your trading costs before you enter any position.

To fully understand your trading costs, it’s just as important to understand swap (rollover interest) in addition to spreads. For a detailed explanation of XM’s swap rates and how to calculate them, please refer to the article below.

Are there times when XM spreads tend to widen?

Yes. Spreads tend to widen around major economic data releases, over the weekend, and especially during the New York market close — which falls between 21:00–22:00 GMT (summer/daylight saving time) and 22:00–23:00 GMT (winter/standard time). Market conditions are unstable during these windows, so it is advisable to exercise caution when trading at those hours.

Is there a way to reduce XM spread costs?

Yes — by using XM’s Traders Club and redeeming the XMC points you accumulate through trading as bonus funds. At the highest ELITE tier, you can receive approximately 6 USD per 1 lot of GOLD, which is equivalent to a 0.6 pip reduction in cost.

What unit are XM spreads quoted in?

Spreads are quoted in “pips,” and their monetary value varies depending on the settlement currency. For USD-denominated accounts, 1 pip = 10 USD per lot. For example, in EUR/USD priced at 1.12345, the 4th decimal place (3) represents pips and the 5th decimal place (5) represents points.

How do I calculate XM spread costs?

The formula is: “Spread (points) × Contract Size × Price Decimal Position × Lots Traded × Settlement Currency to USD Exchange Rate.” However, you can calculate this effortlessly using XM’s official online calculator on their website.

What are the spreads like on the XM Ultra Low account?

The Ultra Low account offers spreads on major currency pairs starting from approximately 1.0 pips with zero commissions — keeping your true cost of trading low. You can also trade major pairs and Gold/Silver with Free Swap (no overnight charges). The trade-off is that this account type does not qualify for deposit bonuses.

Which XM currency pairs have the tightest spreads?

EUR/USD and USD/JPY on the Ultra Low account have the tightest spreads, averaging 1.0 pips. Since XM uses a floating spread system, spreads may widen during major economic announcements or over the weekend.

Are spreads different between XM CFD Futures and CFD Spot products?

Yes. CFD Spot products have narrower spreads than Futures, and also offer a wider range of instruments. You can check current spreads in the quotes window of MT4/MT5 or in your XM Member Area under “Trading Instruments.”

Do XM spreads differ by account type?

Yes. The Standard and Ultra Low accounts have different spread structures. The Ultra Low account offers tighter spreads but does not come with bonuses. If minimising trading costs is your priority, go with the Ultra Low account. If you want access to bonuses and promotions, the Standard account is the better choice.