HFM vs XM spreads: what we measured on live accounts (2026)
On 7 Sep 2026, in the London session, we read EUR/USD at 2.7 pips on a funded HFM Premium account and 2.0 pips on a funded XM Standard account. The published figures for those accounts were 'from 1.4 pips' and 'from 1.6 pips', so the order on paper was the reverse of the order we saw. Each figure is a single reading, not an average.
On 7 Sep 2026, in the London session, we read EUR/USD at 2.7 pips on a funded HFM Premium account and at 2.0 pips on a funded XM Standard account. The published figures for the same two accounts were “from 1.4 pips” and “from 1.6 pips”, so the account that looked cheaper on paper was the wider one when we looked.
That is one reading per account, on one day, in one session. It is evidence, not an average, and the rest of this page is careful about what it can and cannot tell you.
The published spread next to the spread we read
These are the two accounts we hold funded and have read live, which is why we compare them with each other. The “published” column is the specification each broker showed us on 6 Sep 2026: HFM in our client area, XM in its app. The “read” column is what the trading app quoted on our funded account the next day.
| Account | Published spread (6 Sep 2026) | Bid / ask we read (7 Sep 2026) | Spread we read | Gap to published |
|---|---|---|---|---|
| HFM Premium | from 1.4 pips, no commission | 1.16317 / 1.16344 | 2.7 pips | 1.3 pips wider |
| XM Standard | from 1.6 pips | 1.16209 / 1.16229 | 2.0 pips | 0.4 pips wider |
Three things to take from the table:
- Neither account showed its “from” figure. Both were wider.
- HFM Premium was 0.7 pips wider than XM Standard in these readings, although its published figure is 0.2 pips lower.
- The two bid prices are different, so the readings were not taken at the same instant. They share a day and a session, nothing tighter than that.
If spread is a new term, it is the gap between the bid and the ask, and you pay it every time you open and close a position.
What the difference costs per lot
On EUR/USD, one pip on a standard lot (100,000 units) is worth 10 dollars. That turns the readings into money:
| Spread | Cost per standard lot (1.00) | Cost per micro lot (0.01) |
|---|---|---|
| 2.7 pips (HFM Premium, our reading) | 27 dollars | 0.27 dollars |
| 2.0 pips (XM Standard, our reading) | 20 dollars | 0.20 dollars |
| 1.4 pips (HFM Premium, published “from”) | 14 dollars | 0.14 dollars |
| 1.6 pips (XM Standard, published “from”) | 16 dollars | 0.16 dollars |
The gap between our two readings is 7 dollars per standard lot, or 7 cents per micro lot.
A worked example: a trader placing 20 round-turn trades of 0.10 lots in a month trades 2 lots in total. At 2.7 pips that is 54 dollars in spread. At 2.0 pips it is 40 dollars. The 14 dollar difference only holds if both spreads stayed exactly where we read them for all 20 trades, which is not how spreads behave.
Why two readings cannot name a cheaper broker
Spreads move through the day. They widen around news and at the daily rollover, and they can sit close to the “from” figure in quiet, liquid periods. A single reading catches one moment of that range.
So the honest reading of our data is narrow:
- A “from” spread is a floor, not a promise. On both accounts the live quote was above it.
- On the one occasion we looked, XM Standard was tighter than HFM Premium on EUR/USD by 0.7 pips.
- We cannot say which account is tighter on average, on other pairs, in other sessions, or on a different day.
We publish the raw readings as a CSV file on our open data page, and the way we take them is described on the methodology page.
The other accounts we have not measured
Each broker also showed us tighter published figures on other account types on 6 Sep 2026. We have no live reading for any of these, so they are listed as published only.
| Account | Published spread | Other terms shown |
|---|---|---|
| HFM Pro | from 0.6 pips | 100 dollar minimum |
| HFM Zero Spread | from 0.0 pips | plus a commission |
| XM Ultra Low | from 0.8 pips | none recorded |
HFM Zero Spread carries a commission on top of the spread, so “from 0.0 pips” is not the full cost of a trade on that account.
One gold reading on HFM
On the same HFM Premium account, at the London open on 7 Sep 2026, we read XAU/USD at bid 4419.12 and ask 4419.60. That is a spread of 0.48 dollars, or 48 points. We have no matching gold reading on XM, so there is nothing to compare it with yet.
Costs at HFM beyond the spread
The spread is the main trading cost at HFM. HFM publishes Premium and Cent at from 1.4 pips with no commission, and lists all of its account types as swap-free.
HFM states it charges no deposit or withdrawal fees on its own side. Your own bank or payment processor can still charge a transfer fee. Funding is by bank transfer, card, Skrill or Neteller, and the minimum deposit is from 0 dollars (Pro: from 100 dollars).
HFM (HF Markets) says it is regulated by the FCA (UK), CySEC (Cyprus), FSCA (South Africa), CMA (Kenya), DFSA (Dubai) and FSA (Seychelles).
The downsides: HFM is not available to US residents, and its crypto-CFD range is thinner than what crypto-native venues offer.
What we could not confirm
- The commission amount on HFM Zero Spread. We recorded that a commission applies, not how much it is.
- Whether HFM charges a dormant-account fee. We could not verify a clear published figure, so treat it as unconfirmed and read HFM’s current terms before leaving an account idle.
- Whether these spreads repeat. Each figure is one reading, and we have no average for either account.
This guide is for education only, is not financial advice, and trading carries a risk of loss.
Key facts
- We read EUR/USD at 2.7 pips on a funded HFM Premium account on 7 Sep 2026 in the London session (bid 1.16317, ask 1.16344).
- We read EUR/USD at 2.0 pips on a funded XM Standard account on 7 Sep 2026 in the London session (bid 1.16209, ask 1.16229).
- The HFM Premium specification shown in our client area on 6 Sep 2026 was 'from 1.4 pips' with no commission, 1.3 pips below our reading.
- The XM Standard specification shown in the XM app on 6 Sep 2026 was 'from 1.6 pips', 0.4 pips below our reading.
- At 10 dollars per pip on a standard lot, 2.7 pips costs 27 dollars per lot and 2.0 pips costs 20 dollars per lot.
- We read XAU/USD at 0.48 dollars (48 points) on the HFM Premium account at the London open on 7 Sep 2026.
HFM (HF Markets)
Africa-focused broker with genuine local regulation and a near-zero entry point. Some broker links are referral links; we may earn a commission at no cost to you. It never changes our ranking.
Frequently asked
Is the HFM or XM spread lower on EUR/USD?
On paper, HFM Premium is lower: 'from 1.4 pips' against 'from 1.6 pips' for XM Standard. In our one reading of each on 7 Sep 2026, XM Standard was lower at 2.0 pips against 2.7 pips on HFM Premium. Two single readings cannot settle which is lower over time.
Why was the spread we read wider than the advertised 'from' spread?
A 'from' figure is the lowest spread the account can show, not the spread you get on every quote. Spreads change through the day and widen around news and at the daily rollover. Our readings were 1.3 pips above the published figure on HFM Premium and 0.4 pips above it on XM Standard.
How much does the spread cost per trade in dollars?
On EUR/USD one pip on a standard lot is worth 10 dollars. A 2.7 pip spread costs 27 dollars per standard lot or 0.27 dollars per micro lot, and a 2.0 pip spread costs 20 dollars per standard lot or 0.20 dollars per micro lot.
Did you measure HFM Pro, HFM Zero Spread or XM Ultra Low?
No. We only hold the specifications shown to us on 6 Sep 2026: HFM Pro 'from 0.6 pips' with a 100 dollar minimum, HFM Zero Spread 'from 0.0 pips' plus a commission, and XM Ultra Low 'from 0.8 pips'. We have no live reading for any of them.
Risk warning: trading is high risk and most retail accounts lose money. Education only, not financial advice.