XM Launches Zero-Spread Account Tier for Active Traders

XM has launched a new zero-spread account tier targeted at active traders and small institutional accounts. The product offers raw interbank spreads on major FX pairs with a fixed $3.50 per side commission on standard lots, putting it in direct competition with the established ECN tiers at IC Markets and Pepperstone.

Key specifications

• Minimum deposit: $500
• Commission: $3.50 per side per standard lot
• Average EUR/USD spread: 0.1 pips during London hours
• Maximum leverage: 1:500 (jurisdiction dependent)
• Execution: market execution with no requotes; published average fill speed of 18ms

Who it's for

The product is clearly designed for scalpers, high-frequency discretionary traders, and small CTAs running automated strategies. Position traders running fewer than ten trades a week will be better served by XM's existing standard account, where the spread-only pricing works out cheaper.

How it compares

At $7 round-turn per standard lot, XM's pricing matches the most competitive ECN tiers in the industry. The differentiator is the broker's regulatory footprint — XM holds licences with ASIC, CySEC, FSCA and DFSA — which gives institutional desks more comfort than some of the pure-play ECN brokers.

Live testing over the past two weeks shows average EUR/USD spreads in line with the marketing — 0.0 to 0.2 pips during London and New York, widening to 0.4 pips during the Asia open and around major data releases.