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When one explores the market for a new brokerage service, one usually pays special attention to the size of fees imposed. Thus, XM is usually among one’s favorites. Low rates are one of its most outstanding benefits. To sound more convincing, let us analyze its commissions in further detail.
To start with, review its spreads. Identically to most other brokerage services, here, the minimum size of the spread is determined by the type of account. So, in the case of Micro, Standard, and Ultra Low accounts, an average level is 1.7 pips. As for Zero accounts, it is even lower.
However, for you to have a more objective picture, let us compare the terms offered by this broker with other platforms. We will take the most popular pair — EURUSD — as an example:
- XM — 1.7 pips;
- Exness — 1.0 pips;
- IC Markets — 0.62.
As you can see, XM spread levels are slightly higher compared to other companies, still, they can be safely called reasonable. Sure, you can find a few brokers that impose lower charges, yet, you must take into account that XM is globally known for its matchless quality of service — working with it, you will see that its team will do everything in their power to provide you with decent liquidity, backbreaking execution speed, and exhaustive functionality. Furthermore, this brokerage company can boast a prestigious award — the Best Broker for Beginners — that was granted by Traders Union for its favorable trading environment.
- withdrawals — 0% (although you must remember that the bank or payment system used may also charge its own commission);
- inactivity fee — a $15 single-time commission after 12 months of inactivity plus $5 per month;
- conversion fee — depends on the currencies involved (it is imposed when one needs to use a currency that is different from one’s basic account currency);
- financing — 1.6% for EURUSD;
- swaps — 1.31 for EURUSD short and -7.09 for EURUSD long.
To summarize, we must admit that FX stands out from other brokers based on its beneficial rate to quality ratio. In general, its fees can be characterized as low or average, depending on the instrument involved. So, it is cheaper than FxPro but slightly more expensive than Admiral Markets, Exness, or IC Markets. Besides, in terms of non-trading fees, FX is also one of the cheapest options. Hence, we can safely recommend this broker to active traders, especially to those who seek high liquidity and a broad variety of trading instruments.