XM Spread List | Minimum Spreads by Account Type and How to Narrow Them

XMTrading's spreads are variable and vary significantly depending on the account type, ranging from a minimum of 0.0 pips to 2.0 pips. Minimizing trading costs hinges on choosing the right account type and utilizing cashback offers

This article provides a step-by-step, practical explanation of XM's spreads across its four account types, a list of the latest spreads for major currency pairs, points to note regarding times when spreads widen, and how to check them on MT4/MT5

XMTradinga variable spread system, and the spread varies significantly depending on the account type (Standard Account, Micro Account, KIWAMI Extreme Account, Zero Account). By using XM-specific cashback services such as Money Charger, you can further reduce your effective trading costs.

The spread is the difference between the " ask price " and the " bid price " of a currency pair, and it is the actual trading cost that traders bear for each trade. With XM's variable spread system, the spread constantly fluctuates according to market liquidity and volatility, just like in the interbank market. While a fixed spread system maintains a constant spread regardless of market conditions, the variable spread system has the advantage of offering narrower spreads during periods of high liquidity

Furthermore, XMfractional pip pricing(displayed to 5 decimal places), enabling the provision of extremely small spreads of less than 1 pip. As a result, especially with the KIWAMI and Zero accounts, a competitive real spread environment is achieved in the industry.

What is the unit of spread, "pips"?

The spread is usually expressed in units called "pips." A pip represents the smallest unit of price movement, and it allows for a consistent comparison of spreads across different currency pairs

• USD/JPY changed from 1.0 pips to 0.01 yen (1 sen).
• EUR/USD moved from 1.0 pips to $0.0001 (0.01 cents).

The KIWAMI account offers extremely low spreads, with no trading fees and starting from a minimum of 0.6 pips , while the Zero account offers extremely low spreads starting from a minimum of 0 pips (with separate trading fees). The Standard and Micro accounts have wider spreads, around 2.0 pips for USD/JPY, but are characterized by their eligibility for bonuses and XM points

Standard and Micro accounts offerthe same. They are commission-free and eligible for deposit bonuses and XM Points (loyalty program), making them ideal for those who want to utilize bonuses in their trading.

The KIWAMI accountis a commission-free account type that offers extremely low spreads. It provides competitive spreads starting from 0.6 pips to 0.8 pips on major currency pairs, andswap-free trading on over 30 instruments. It is recommended for traders who want to avoid swap point burdens for medium- to long-term holdings, and for traders who prioritize trading costs.

The Zero Accountis an account type specializing in extremely small spreads starting from a minimum of 0 pips. However,$3.50 per lot one way ($7 round trip)is incurred. When comparing total costs including trading commissions, the KIWAMI Extreme Account may be more cost-effective in some cases, so it is important to choose according to your trading style.

Comparison of cashback services that help reduce transaction costs

By opening an XM account and trading through their cashback service, you can significantly reduce your actual costs due to spreads . The mechanism, benefits, and points to note are explained in detail in the section on how to utilize the cashback service

XM's spreads for major currency pairs are competitive among overseas forex brokers, with USD/JPY at 0.7 pips and EUR/USD at 0.6 pips in the KIWAMI account. Below is a list of major currency pair spreads by account type (as of May 2026 / from the XM official website)

Minimum spread for major currency pairs

Minimum spread for minor currency pairs

The above are all minimum spreads and are subject to change depending on market conditions. For real-time spreads, please check the XM official website or log in to MT4/MT5

Spreads on other trading instruments (CFDs) | Gold, Crude Oil, Stock Indices, Cryptocurrencies

In addition to FX currency pairs, XM also offers CFD trading in precious metals ( gold and silver ), energy (crude oil and natural gas), stock indices, and cryptocurrencies. The spreads for these instruments also vary depending on the account type

Gold (XAU/USD) spreads are particularly popular at XM, and scalping is possible from as low as 1.5 pips with a KIWAMI account. For a cross-broker comparison of spreads and trading conditions, including those of other brokers besides XM, please refer to the overseas FX gold trading broker comparison

XM's total trading costsspreads, trading fees, and swaps. It's important to compare total costs, including trading fees, rather than choosing an account type based solely on spreads.

The following is a comparison of the total costs when trading 1 lot of USD/JPY

This comparisonthe KIWAMI account often has lower total costs than the Zero account. However, since the Zero account has a minimum spread of 0 pips, it can be advantageous in situations such as ultra-short-term trading like scalping.

Furthermore, by using cashback services such as Money Charger, you can receive cashback for each transaction, further reducing your effective total cost

XM's spreads tend to widen significantly during periods of low market liquidity. In particular, early morning hours in Japan (around 6 AM during daylight saving time and 7 AM during standard time) can see spreads widening to 5-7 times their normal size, so caution is advised. This is also known as the " night premium " or " early morning spread ."

When the spread is likely to widen

Actual measured spread in the early morning (for reference)

While widening of spreads is unavoidable,refraining from placing new orders during economic indicator announcementsandavoiding early morning trading. Since the risk of slippage also increases, it's advisable to use limit orders rather than market orders.

This article compares XM's spreads to those of other brokers, focusing on major currency pairs (USD/JPY minimum spread). For a comprehensive cross-broker comparison, please also refer to our overseas FX spread comparison

While XM may not have the lowest spreads alone, it is supported by many for its overall strengths, including abundant bonuses, reliable execution, Japanese language support, and stable withdrawals (for details on XM's strengths, weaknesses, and user reviews, see XMTrading's reputation and actual performance ). By combining it with cashback, the total cost becomes competitive with other companies.

XM uses a variable spread system, and the cost structure varies significantly depending on the account type. Let's review the key points of this article

First, choose an account type that suits your trading style, and then start optimizing your trading costs with XM by signing up for free cashback services such as Money Charger. Real-time spreads can be checked anytime on MT4/MT5 or the official XM app