See what XM charges or pays you to hold a position overnight, in US dollars, on Standard and Ultra Low. The tool also shows the amount on the triple swap day.
Checked on 4 October 2026
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Ultra Low has no swap on major and cross currency pairs and on spot metals such as gold and silver. Exotic pairs and all other instruments carry the same swap on both accounts. Islamic accounts are swap-free on request and follow XM's own conditions.
XM account types (opens in a new tab) · XM terms and conditions (opens in a new tab)
- Switch accountsSelect Standard or Ultra Low at the top.
- Adjust the lot sizeUse the “−” and “＋” buttons to set your size.
- Search the listUse the drop-down menu or the search box to find a market.
- View the breakdownTap a row to see both accounts, the triple day and 30 days.
Where the figures come from, and how we work them out:
Data sources and how the amounts are worked out
Where the figures come from
We read each instrument’s swap rate, unit and contract size from two live XM MT5 accounts on XM Global’s servers, one Standard and one Ultra Low. A sample is saved every 30 minutes.
In our data, XM changes its swap rates once a week, at the weekend, and our broker changes page lists each change of 10% or more.
How the amounts are worked out
Each sample is converted to US dollars with prices from the same collection, as MT5 does for profit and loss. The samples from the past 24 hours that could be converted are averaged, and that average is scaled to the lot size you select.
Rate details, in an open row of the tool, shows how many samples were used for buy and for sell.
The result is one rollover at the normal rate. The triple swap day shows three times that amount, and the 30-day estimate scales the weekly schedule to 30 days at today’s rates.
Labels you may see
- Swap-free on Ultra Low
- MT5 has swaps turned off for this instrument on Ultra Low, while Standard charges one.
- No swap on Ultra Low
- On a Standard row: the same instrument has no swap on Ultra Low.
- Fair Value Adjustment applies instead
- XM adjusts overnight positions on this instrument by another method, further down, and the amounts shown cover the swap only.
- Unconfirmed
- The US dollar amount appears once recent prices are in, usually while the market is open. Rate details shows the swap rate in the meantime.
- $0.00
- A calculated zero.
All times are UTC. Data received, at the top of the tool, shows when the latest data arrived.
What the figures cover
The tool shows the swap on the account type you select. For trading without swaps on religious grounds, see the FAQ at the end of this page. The XM spread page covers the cost of opening a trade, and rebates are credited separately on your trading.
Official XM sources on swaps, account types and the client agreement checked on 4 October 2026 (UTC). This date is separate from the tool’s data update times.
New to XM? You choose Standard or Ultra Low when you open your trading account, so compare the swap on both first.
Contents
- What Does a Night of Swap Cost at XM?
- Which Instruments Are Swap-Free on XM Ultra Low?
- When Does XM Charge the Swap, and Which Day Is Triple?
- How Is the XM Swap Calculated?
- Which Instruments Have a Fair Value Adjustment Instead?
- How Do You Get a Rebate on Your XM Trades?
- XM Swap FAQ
- The Rest of the XM Numbers
What Does a Night of Swap Cost at XM?
On a Standard account, a 1-lot gold buy position costs about $84 a night. On an Ultra Low account, gold and the major currency pairs have no swap.
- Gold and major pairs
Ultra Low charges no swap on gold, silver, and the major and cross currency pairs. On Standard, a 1-lot gold buy position pays about $84 a night. - Exotic pairs, indices, crypto
Both accounts charge the same swap on these instruments. Choose the account by its spread and rebate instead. - Gold sell positions
On Standard, a gold sell position receives a swap each night. On Ultra Low, gold has no swap, so you receive nothing. - Religious reasons
The Islamic option is available on every account type, and the option removes the swap on every instrument. The FAQ at the end explains how to apply.
1 lot held for 1 night
| Position | Standard account | Ultra Low account |
|---|---|---|
| Gold, buy | Pays $83.83 | No swap |
| Gold, sell | Receives $20.64 | No swap |
| EURUSD, buy | Pays $7.58 | No swap |
| EURUSD, sell | Receives $1.42 | No swap |
24-hour averages from the tool, 5 October 2026, 04:03 UTC. Swap rates change every week, so check tonight’s amount in the tool before you hold a position.
For a gold buy position held overnight, the swap is a large cost. On Wednesday night, a 1-lot position on a Standard account costs about $251, because it counts three nights.
Before you hold a position overnight, check three things on this page:
- Ultra Low has no swap on gold and the major pairs. See which instruments are swap-free.
- XM charges the swap at 00:00 server time, and Wednesday counts three nights. See the triple swap days.
- The tool shows tonight’s amount. See how XM calculates the swap.
To lower your trading cost further, look at a rebate as well. The XM rebate guide shows the cash you get back on every lot.
Which Instruments Are Swap-Free on XM Ultra Low?
No swap on Ultra Low
- Major and cross currency pairs
- Gold and silver
Swap on both accounts
- Exotic pairs such as USDZAR
- Indices and energies
- Crypto and GOLD24-7
- Stocks and ETFs
XM makes selected instruments swap-free on Ultra Low, including EURUSD, USDJPY, GBPUSD, gold and silver. On Standard, these instruments carry the normal swap.
Exotic pairs and every other market carry the same swap on both accounts. The tool marks each swap-free instrument. When you open a row in the tool, it shows both accounts side by side. XM help centre: are all instruments swap-free on Ultra Low? (opens in a new tab)
In the XM app, an instrument with no swap has no Swaps row in Symbol Information. The XM Ultra Low guide shows that screen.
XM can withdraw the swap-free status if you misuse it
XM offers swap-free instruments in good faith and can withdraw the status from a trading account that misuses it.
XM’s terms give two examples. One is carry trades. The other is holding a large share of your overnight positions on these instruments, where a Standard account would pay a negative swap.
In that case XM can also recover the swaps that were not charged. XM does not publish how large a share counts as misuse, so we recommend the following. XM: legal documents (client agreement, section 81) (opens in a new tab)
- Normal trading
For day trades and gold positions held for a few days, keep using Ultra Low. - Large positions for weeks
On a Standard trading account, you pay the normal swap, so the limit does not apply. The tool shows the swap per night. - Not sure
Before you open a large position, ask XM support about your own trading account.
To compare Ultra Low with the swap-free terms at other brokers, see our swap-free forex brokers page.
When Does XM Charge the Swap, and Which Day Is Triple?
XM charges the swap at 00:00 server time, which is 21:00 UTC in summer and 22:00 UTC in winter. On Wednesday, currency pairs and metals pay three nights at once.
| Instrument | Triple swap day |
|---|---|
| Currency pairs, metals | Wednesday |
| Indices, energies, stocks | Friday |
| Crypto, GOLD24-7 | Every day, no triple |
| Futures | No swap |
A position that is still open at 00:00 server time pays the swap for that night. The amount appears in your trading account within the hour.
For example, a position opened at 23:59 server time pays the swap that night. A position opened at 00:01 pays its first swap on the next night. XM: legal documents (client agreement) (opens in a new tab)
Server time is the clock at the top of Market Watch in MT5. XM moves this clock by one hour for summer time, so the swap stays at 00:00 on that clock while the time in UTC changes.
On the triple day, one rollover covers the three days of the weekend. Crypto and GOLD24-7 trade every day, so they are charged every night, weekends included. XM help centre: why are rollover rates tripled on Wednesdays? (opens in a new tab)
One rollover, the triple day and 30 days
In the tool, open a row. The amounts appear in three steps, all from the same rates:
- Estimated swap for one rolloverBuy and sell for one night at your lot size.
- Triple swap dayThree times that amount, on the day that instrument uses.
- 30-day estimateThe weekly schedule scaled to 30 days.
These amounts are estimates. The tool averages XM’s swap rates from the past 24 hours, and XM can change a rate before the swap is charged.
For an instrument that is not priced in US dollars, the dollar amount also moves with the exchange rate.
Swap rates move from week to week, so the 30-day figure is for comparing instruments and accounts at today’s levels. Your trading account statement shows what was charged.
How Is the XM Swap Calculated?
EURUSD bought, 0.1 lot, one night
Swap rate−7.58 points
× trade size10,000 EUR
× price step0.00001
= Swap−$0.76
MT5 shows XM’s swap rate for each instrument in points. Multiply the rate by the trade size and the price step. The result is in the instrument’s quote currency, which is US dollars for EURUSD.
For USDJPY, the quote currency is yen, so 211 yen is divided by the USDJPY rate to give about $1.34.
XM sets these rates from the overnight interest rate difference between the two currencies, with a small mark-up.
Stocks and ETFs use a yearly percentage of the price instead, which the tool turns into one night on a 360-day year. XM help centre: how do you calculate swaps? (opens in a new tab)
Standard account, 1 lot, 1 night
| Instrument | Buy position | Sell position |
|---|---|---|
| EURUSD | −$7.58 | +$1.42 |
| USDJPY | +$1.34 | −$18.76 |
| GOLD | −$83.83 | +$20.64 |
| BTCUSD | −$35.00 | −$23.33 |
24-hour averages from the tool, 5 October 2026, 04:03 UTC.
A minus is taken from the trading account, and a plus is paid to you. Both sides can be negative, as on BTCUSD, so check the side you plan to hold. XM’s Members Area shows the same rates: open an instrument in Markets and tap the i icon.
The XM fees guide compares one night of swap with the spread of the same trade.
Which Instruments Have a Fair Value Adjustment Instead?
XM’s Fair Value Adjustment
- Instruments
- OILCash, BRENTCash, NGASCash, XPTUSD, XPDUSD.
- What it is
- The price moving to the next futures contract, plus a daily fee.
- When
- Every night, three nights’ worth on Friday.
- Where to see it
- Rates in XM’s Members Area.
These five instruments show a swap of $0.00, because XM prices them from futures contracts and adjusts overnight positions instead.
The adjustment can be a charge or a credit, and the amount changes with the gap between the two nearest futures contracts.
The Fair Value Adjustment applies on Islamic accounts too. Check today’s rate in XM’s Members Area before you hold one of these instruments overnight. XM help centre: what is a Fair Value Adjustment? (opens in a new tab)
How Do You Get a Rebate on Your XM Trades?
Forex FanClub pays a rebate on every lot that you trade on XM, credited separately from the swap. The XM rebate guide sets out which accounts and instruments qualify, and how to get started.
To receive the rebate, open your XM trading account with the button below. XM sets the partner of the trading account from the last referral link you used before signing up.
If you already trade at XM, add one more trading account with our partner code GJQYM. The XM partner code guide shows each step.
XM Swap FAQ
- What is a swap in XM trading?
-
A swap is the amount that XM charges or pays for a position held past 00:00 server time, which is 21:00 UTC in summer and 22:00 UTC in winter.
The rate comes from the interest rate difference between the two currencies. The tool at the top shows tonight’s swap.
- Does XM charge swap fees?
-
Yes, on positions held past 00:00 server time. On a Standard account, you pay or receive a swap on most instruments.
On an Ultra Low account, major and cross pairs, gold and silver have no swap, and other instruments have the normal swap.
- Which day is the triple swap on XM MT5?
-
Wednesday for currency pairs and metals, and Friday for indices, energies and stocks. Crypto and GOLD24-7 are charged every night instead, weekends included.
- How do I get a swap-free account at XM?
-
For religious reasons, request an Islamic account. XM may ask for proof and decides each case. Once XM accepts, every real trading account that you hold with XM becomes swap-free.
The Islamic option is available on every account type, and XM grants the status for religious reasons only. A Fair Value Adjustment on cash energies and spot metals still applies. XM: account types (opens in a new tab)
If you have no religious grounds, open an Ultra Low account instead. Ultra Low has no swap on major and cross pairs, gold and silver.
The Rest of the XM Numbers
The swap is one side of what a trade costs. The pages below cover the other sides, and the last two compare XM with the other brokers.
You have now seen what a position costs to hold overnight. Alongside FFC Auto Rebate, the member area carries daily login rewards and USDT quests, with the terms for each set out there. To use these services, register as a Forex FanClub member using the button below.
Produced and operated by Forex FanClub
Person responsible: Hiroki Sakaida, founder of Forex FanClub
Hiroki Sakaida decides what our content and services cover and which features they offer. He also checks content and functionality and decides on revisions and publication. Our Content and Service Policy explains how we produce and check our content and services, including our use of AI.
Risk warning: Forex and CFD trading involve leverage, and you could lose all the money you invest. This article and tool provide information, not investment advice. The amounts shown are calculated from the collected data and do not guarantee the amounts that will apply to your own trades, or any future profit.
Affiliate disclosure: This article contains XM referral links. Forex FanClub receives referral commission based on registrations and trading through these links.
- What Does a Night of Swap Cost at XM?
- Which Instruments Are Swap-Free on XM Ultra Low?
- XM can withdraw the swap-free status if you misuse it
- When Does XM Charge the Swap, and Which Day Is Triple?
- One rollover, the triple day and 30 days
- How Is the XM Swap Calculated?
- Which Instruments Have a Fair Value Adjustment Instead?
- How Do You Get a Rebate on Your XM Trades?
- XM Swap FAQ
- The Rest of the XM Numbers