The fee structure of xpo forex is generally transparent, but there are still potential costs that need attention. According to the 2023 Finance Magnates evaluation, the spread fluctuation range of its EUR/USD ECN account is 0.0-0.3 points (the industry average is 0.1-0.5 points), and the commission is 3.5 per lot (the monthly trading volume per million US dollars can be reduced to 2.8), but large orders (more than 50 lots) may trigger the liquidity stratification mechanism. This led to an instantaneous expansion of the price difference by 0.7 points (0.3 points in the same case at Tickmill). User reports show that during the release of the non-farm payroll data, the slippage rate was 0.7% (the industry average was 1.8%), but under extreme market conditions (such as the Silicon Valley Bank incident in March 2023), the maximum slippage reached 4.2 points.
Overnight interest (Swap) is one of the potential costs. xpo forex charged 0.85/ lot (leverage 1:30) for overnight long positions in EUR/USD and 0.62/ lot for short positions, which was 7.62.55/ lot lower than that of IC Markets (0.92/ lot for long positions). Some users were not clearly aware of this detail in the terms.
Deposit and withdrawal fees need to be considered separately. Bank wire transfer (SEPA) is free for euro deposits, but a 0.1% fee is charged for withdrawals (minimum €7). Credit card deposits are free, while withdrawals are charged at 3% (minimum €15). For example, users need to pay €15 (3%) to withdraw €500, while similar platforms such as Pepperstone only charge €1. In addition, the Gas fee subsidy for cryptocurrency withdrawals (such as USDT-ERC20) only covers 3.5 Gwei. If there is congestion on the chain, users need to make up the difference themselves. During the peak Gas period of Ethereum in May 2023, users paid an additional $4.2 per transaction.
Regarding the account inactivity fee, xpo forex charges €15 per month for accounts that have not traded for 12 consecutive months (the industry average is €10), but it is not prominently displayed on the registration page. According to a survey by BrokerChooser, 23% of users lose €180 per year due to ignoring this clause.
Currency conversion fees are implicitly included in transaction costs. If trading euro assets (such as EUR/GBP) with a US dollar account, xpo forex charges a 0.5% cross-exchange rate fee (the industry average is 0.3%). For example, trading a position of €10,000 will incur an additional cost of €50. User sampling in 2023 shows that such fees account for 12% of their annual transaction costs.
The additional service fee may affect the strategy’s returns. The monthly fee for the VPS service of xpo forex is €25 (with a delay of 0.05ms), but it is only free for users with a trading volume of ≥10 lots. The historical data subscription (10-year tick level) costs €120 per year, while the same TradingView package is only €80. In addition, high-frequency API access (more than 50 times per second) incurs a cost of €0.001 per request, and high-frequency strategy users have an average monthly cost increase of €150.
The proportion of hidden expenses disclosed by regulators is relatively low. CertiK audit shows that the hidden fees of xpo forex account for 4.7% of the total transaction costs (the industry average is 6.3%), but some users have reflected that its “zero commission” promotion does not fully explain the liquidity premium of large orders. For example, the actual cost (spread + commission) of a single 100-lot EUR/USD order is 3.5+28=31.5, while the official website example calculates it as 3.5 only based on the standard lot.
In summary, the main expenses of xpo forex are clearly disclosed, but it is necessary to be vigilant against semi-hidden expenditures such as large slippage, triple overnight interest, withdrawal rates, and API call costs. It is recommended to use its ECN account and maintain a monthly trading volume of ≥30 lots to activate the commission discount. At the same time, reduce the deposit and withdrawal rate through the bank channel to 0.1%.