No. The Ultra Low account is competitive but not the absolute lowest; commission-based brokers like IC Markets, Tickmill and Pepperstone show tighter raw spreads on majors. XM’s edge is no commission plus consistent service across account sizes.
Direct answer
If your only criterion is “cheapest round-turn on EURUSD”, XM is not the answer. The cheapest brokers run commission-based pricing where raw spreads can be 0.0–0.2 pips. XM’s no-commission Ultra Low is competitive but a step above the absolute floor.
Cost league table on EURUSD (round-turn 1 lot)
| Broker / Account | Spread | Commission | Total |
|---|---|---|---|
| IC Markets Raw / cTrader | ~0.1 pips | $7 | ~$8 |
| Tickmill Pro | ~0.1 pips | $4 | ~$5 |
| Pepperstone Razor | ~0.1 pips | $7 | ~$8 |
| XM Ultra Low | ~0.6 pips | $0 | ~$6 |
| XM Standard | ~1.6 pips | $0 | ~$16 |
When XM’s pricing wins
- Small-account trading where the per-trade commission overhead is uneconomic.
- Bonus-funded accounts where cost matters less than execution simplicity.
- Multi-asset retail clients trading metals, indices and crypto on a single account.
Check the current XM bonus in your country
Country-specific deposit bonus ? Members Area verification required ? Bonus credit is not cash
FAQ
Are XM’s spreads the lowest in the industry?
No. The Ultra Low account is competitive but not the absolute lowest; commission-based brokers like IC Markets, Tickmill and Pepperstone show tighter raw spreads on majors. XM’s edge is no commission plus consistent service across account sizes.
Why is no-commission ever better?
For very small lot sizes and infrequent trading, paying $7 fixed commission per round turn can be a worse deal than 0.6 extra pips of spread.
Can I get raw spreads at XM?
XM does not offer a raw-spread / commission-account on its standard product line for most clients.
Related XM guides
- XM Spreads Compared
- Does XM charge a commission?
- XM vs IC Markets — which is better?
- XM vs Tickmill — which is better?
- What is the difference between XM Standard and Ultra Low?