XM Gold Spread and Trading Conditions (XMTrading): Spread, Leverage, Hours and Cost After Cashback

If you search for "XM gold spread" you will find many pages that mix up two different companies' numbers: the Japanese-language brand XMTrading and the international brand XM Global. They run different account types and different published conditions. This guide covers XMTrading only, which is the XM brand CB-Dogs is an introducing partner of, and it adds the part most gold guides skip: what the cost per lot looks like after cashback.

Key takeaways

• XMTrading GOLD (XAUUSD) is 100 oz per lot on Standard, Zero and KIWAMI, but 1 oz per lot on Micro. XM's own guide lists the lot range as 0.01 to 50 on every account type.
• Maximum leverage is up to 1000:1 on Standard, Micro and KIWAMI and up to 500:1 on Zero, and it steps down automatically as your equity grows.
• Zero has a lower spread but charges a commission quoted per 100,000 USD of traded value. KIWAMI has no commission and is swap-free on GOLD and XAUEUR.
• Trading stops for roughly an hour each weekday. Long gold positions normally pay swap and short positions normally receive it, except on KIWAMI.
• CB-Dogs pays gold cashback at the same per-lot rate as forex on a given XMTrading account type (see the rate table). One gold lot is 100 oz, so the rebate is a small offset against a spread that is large in dollar terms.

Which XM are we talking about?

XMTrading (the Japanese-language brand, operated by Tradexfin Limited and Fintrade Limited) offers four account types: Standard, Micro, Zero and KIWAMI. XM Global is a separate brand with its own accounts (Standard, Ultra Low and Shares) and its own spread tables. A gold spread quoted for "XM Ultra Low" is not an XMTrading number, and an XMTrading KIWAMI figure does not apply to XM Global. When a page does not say which entity it describes, treat its numbers with caution. For the account types themselves, see XM account types compared.

XMTrading GOLD conditions by account type

The spread row is the minimum spread as listed by XMTrading, in its own units. It is the best case, not what you will usually pay: live spreads are wider and vary with the market. The symbol names are the ones shown in the platform for each account type (a trailing dot or hash is part of the name).

A few notes on reading this table:

• The spread numbers are minimums, not guarantees. Gold spreads widen sharply around major news releases and when liquidity is thin. Whatever your platform shows at the moment you trade is the number that counts. For how spread, commission and swap combine into a real gold trading cost, see gold trading costs explained.
• Micro is a different animal. A Micro lot of gold is 1 oz, one hundredth of the other accounts. A 1.00 Micro lot has about the same exposure as a 0.01 lot on Standard, so Micro suits small positions, but per-lot figures (spread in dollars, margin, cashback) are not comparable with the other three.
• Zero charges commission on top of its lower spread. XMTrading quotes it as 5 USD per side per 100,000 USD of traded value (10 USD round turn). If the commission is tied to traded value, as the per-100,000-USD quote suggests, it is larger for a lot of gold than for a lot of EURUSD. The worked example below makes that assumption, so confirm how it is charged on GOLD in the contract specification of your platform. The general mechanics are in commission per lot: round turn vs per side.
• The lot range is the same on all four accounts, so the difference between accounts is in cost and leverage, not position size limits.

Leverage on gold at XMTrading

The headline leverage applies to gold on the account types above: up to 1000:1 on Standard, Micro and KIWAMI and up to 500:1 on Zero. In practice it is not fixed. XMTrading steps leverage down as your total equity rises through its published tiers (1000:1 up to 40,000 USD, then 500:1, 200:1 and 100:1 at higher equity levels), and the tiers are explained in XM leverage explained.

Leverage only changes how much margin is locked, not how much a price move costs you. One lot of gold controls 100 oz, so a 1 USD move in the gold price is 100 USD of profit or loss per lot no matter what leverage you use. For margin figures per lot, see gold margin per lot explained, and for pip and tick values on gold see pip value on gold, silver and oil.

Trading hours and the daily break

XMTrading lists GOLD hours in Japan time because of its brand. For a reader in Thailand or Vietnam (UTC+7), subtract 2 hours from Japan time. In summary:

• Trading runs from Monday morning to Saturday morning Japan time, in line with the platform's weekday session.
• There is a daily break of roughly one hour in the early morning Japan time: around 05:55 to 07:05 JST in the summer-time schedule and around 06:55 to 08:05 JST in the winter-time schedule, finishing a few minutes earlier on Friday.
• The exact open and close times shift with the summer and winter schedules, so use the trading hours shown in the symbol specification in MT4 or MT5.

XMTrading also lists a separate GOLD24-7 symbol that trades around the clock, with different conditions: a minimum spread of 10 and leverage of 250 on Standard, and a minimum spread of 6 and leverage of 250 on the KIWAMI version (GOLD24-7#), whose swaps are not zero. It is a different instrument from GOLD, so do not mix its figures with the table above.

Positions open across the break are exposed to a gap on reopening, and stops cannot trigger while the market is closed, so a gap can fill you at a worse price than your stop.

Swap and swap-free on gold

On Standard, Micro and Zero, XMTrading's gold swap is normally negative for long (buy) positions and positive for short (sell) positions. On the day we read XMTrading's page, Standard showed an overnight adjustment of -87.87 for long and +21.97 for short, in points, and XMTrading says the adjustment changes daily. For GOLD, SILVER and XAUEUR it is applied as swap, once a day at 00:00 (GMT+2, shifting with summer time), and tripled on Wednesday. Read the current figure in your platform's symbol specification rather than from an article. Our swap explainer covers how it works, and triple swap day covers the Wednesday charge.

KIWAMI is the exception. XMTrading's spot metals page shows an overnight adjustment of 0 for both long and short on the KIWAMI gold symbol (GOLD#), and its guide lists KIWAMI as swap-free on GOLD and gold against the euro (XAUEUR), so neither side pays or receives overnight swap on those symbols. The separate GOLD24-7# symbol is not swap-free. Swap-free is not a free lunch: you also give up the positive swap on short positions. For general swap-free rules, see swap-free and Islamic accounts.

How CB-Dogs cashback applies to gold

Cashback on gold works as it does on any qualifying instrument: it is based on the closed lot volume XMTrading reports for your account, and the rate depends on your account type. XMTrading pays gold at the same per-lot rate as forex, so there is no separate gold row to look up. The rate table below shows the current rate for each account type:

Two points specific to gold:

1. One lot of gold is 100 oz. The rebate per lot is the same as for a forex lot, but a gold lot carries a much bigger spread in dollar terms, so the rebate covers a smaller share of it. Gold cashback explained from the rebate side is in gold cashback per lot explained.
2. Micro lots are small. A Micro lot is 1 oz, so check the Micro row of the table against how you actually size your trades.

Cashback is calculated by CB-Dogs as 60% of the commission and paid in USDT on TRC20 with the usual 10 USDT minimum and 3 USDT fee below 50 USDT. It arrives after XMTrading confirms the commission, so it does not change the spread you see when you click Buy or Sell. See our XM broker page for timing and details.

Worked example: effective spread after cashback

Everything below uses hypothetical, rounded numbers for illustration. They are not live quotes and not the CB-Dogs rate. Take the actual rebate from the rate table above.

Assume the gold price is 4,000 USD per oz, so one lot (100 oz) has a traded value of 400,000 USD. Assume 1 lot is opened and closed.

With those assumptions, cashback shrinks the effective spread of the Standard-type account from 0.30 to 0.24 USD per oz, a 20% reduction. On the Zero-type account the commission scales with gold's traded value, so the account that looks cheaper on spread alone is more expensive in total in this example. Change the assumed spread and price and the ranking can change. The point is the method: add spread, commission and swap, subtract cashback, divide by 100 oz, and compare accounts on that net number rather than on the spread alone. For KIWAMI, add the swap-free saving to the picture if you hold positions overnight. The cashback calculator does the arithmetic with the live rate.

Frequently asked questions

FAQ

What is the XM gold spread?

XMTrading's spot metals page lists minimum GOLD spreads of 4 on Standard and Micro, 2 on KIWAMI and 1 on Zero (plus commission), in XM's own units. Live spreads are wider and vary with market conditions, so check your platform. XM Global publishes different figures for its own accounts.

What is the contract size of gold at XM?

What leverage does XM allow on gold?

Is gold swap-free at XM?

Does cashback work on gold trades?

Related reading

• Gold (XAUUSD) trading costs explained
• Gold cashback per lot explained
• Gold margin per lot explained
• Pip value on gold, silver and oil
• XM account types compared
• XM broker page with live cashback rates by account type

Want to see your own gold numbers? Run the cashback calculator or register with CB-Dogs before your next trade.