Last updated: August 2026. Spreads are variable and the figures below are typical minimums, not live quotes. XM is not a マネチャ partner broker — this page is informational.
XM's account types differ enough that the cheapest one is not obvious from the advertised spread. The zero-commission accounts price cost into the spread; the Zero account advertises 0.0 pips and charges commission instead. Compared on an all-in basis, the ranking changes.
Spreads by account type (typical minimums)
| Account | USD/JPY | EUR/USD | Commission |
|---|---|---|---|
| Standard / Micro | 2.0 pips | 1.8 pips | None |
| KIWAMI | 0.7 pips | 0.6 pips | None |
| Zero | 0.0 pips | 0.0 pips | $3.5 per lot per side |
All-in cost, not spread
The Zero account quotes 0.0 pips but charges $7 per lot round turn. On USD/JPY, one pip on a standard lot is worth roughly $6.7 at 150 yen to the dollar, so $7 of commission is about 1.05 pips. The all-in cost is therefore around 1.0 pip — higher than KIWAMI's 0.7 pips with no commission.
The formula worth memorising:
All-in cost (pips) = spread + (round-turn commission ÷ value of one pip)
On that basis KIWAMI is usually the cheaper account for major pairs, though the answer can flip on instruments where the raw spread compresses further than the commission scales.
When spreads widen
Liquidity, not the account type, drives most of the cost variation traders actually experience. Spreads commonly widen five to seven times their normal level in the thin early-morning hours (roughly 06:00–07:00 Japan time) and around major data releases.
For scalping and other high-frequency styles, trading the European and US sessions does more for your cost base than switching account types.
Five ways to cut the cost
- Use the low-spread account type rather than the one with the eye-catching 0.0 pips headline.
- Trade in high-liquidity hours.
- Stay out of the minutes either side of major economic releases.
- Keep separate accounts for separate strategies so cost structures match the style.
- Use a rebate service on brokers where one is available, to claw back part of the spread on every lot.
On that last point: rebates apply to マネチャ's partner brokers, and XM is not currently among them. Per-lot rates for brokers that are covered are listed on each broker page.
Frequently asked questions
Which XM account has the tightest spread?
KIWAMI, at around 0.7 pips on USD/JPY with no commission, is usually the lowest all-in cost among the retail account types.
Zero or KIWAMI — which is cheaper?
Usually KIWAMI. The Zero account's $7 round-turn commission works out to roughly 1.0 pip on USD/JPY, which more than offsets its 0.0 pip spread. The comparison can differ by instrument.
Can I get cashback on XM?
Not through マネチャ — XM is not a partner broker. Rebates are available on the brokers listed in the guides section.
マネチャ.jp is an affiliate media site operated independently by an official partner of Money Charger. Information on this page is general information, not investment advice. Trading forex and CFDs carries a high level of risk.