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XM.com (formerly Trading-Point.com and XEMarkets.com) Review MT4 - MetaTrader Platform CFD - Contract for Difference

Overall Rating: (3.357)
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Total Reviews: 429
Last Updated: 2015-08-28
Description:

XM is a forex broker. XM offers the MetaTrader 4 and MT Mobile global forex trading top platforms. XM.com offers over 50 forex pairs, cfds, equities, indices, metals, and energies for your personal investment and trading options.

Special Notes:

Former websites of this company are Trading-Point.com and XEMarkets.com.

Click here to join live discussion of XM.com (formerly Trading-Point.com and XEMarkets.com) on our forum
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court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 0   reviews REVIEWS submit review

FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2010-11-19
Review: We haven't tried a forex trading account with XEMarkets (formerly known as Trading-Point.com). If you've traded forex with this broker, please leave a review here.

Dizi23, UK, United Kingdom

Rating: No Rating
Date of Post:2015-08-26
Review: Hi Andrey from XM,

Thank for your explanation regarding the GBPCHF pair. How about 3 other pending orders cancelled by XM...

GBPCAD
GBPJPY
GBPNZD

Below is a link to a screenshot showing the 3 pending orders cancelled by XM...

http://elitetradingsystem.com/wp-content/uploads/2015/08/xmreal2.png

Looking forward to hearing back from you soon.

~Dizi23

2015-08-21 1Star I've been placing the same trades on both my real account and my demo account on exactly the same currency pairs. I suddenly noticed about 5 of my trades on the real account, my pending orders were closed by XM. When I checked with my demo account the same pending order on the same currency pair was executed. This was a broker I trusted and now I don't trust them anymore. I'm an IB and will be moving all my clients from the UK to a different broker.

Here are proof...

http://www.elitetradingsystem.com/wp-content/uploads/2015/08/xmreal.png

http://www.elitetradingsystem.com/wp-content/uploads/2015/08/xmdemo.png

Added by Chris A. Zacharia on 2015-08-25
Content: Dear Dizi23,

Trade no. 25400416 was deleted because you did not have enough funds to meet margin requirements. Therefore, when the price reached the level you set, it was automatically deleted because it could not have been executed due to insufficient funds.

Please note that margin required for positions on all CHF pairs is 4 times the margin set as per account leverage. Your account leverage is 1:100 so trades on CHF pairs will have effective leverage of 1:25, and the margin required to open 0.25 lots on GBPCHF would be GBP 1000.

This information is posted is transparently posted on the following page - http://www.xm.com/forex-trading.

I hope this clarifies your concerns and I kindly ask you to revise your recent comment.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)

Nicolas, Limassol, Cyprus

Rating:
Date of Post:2015-08-20
Review: After trying by the good way, finally I placed the omplain to the Cysec, waiting for a response. Maybe this way they pay people profits.

2015-07-06 1Star I Opened a position selling Dax last friday, because I trusted in the "OXI" of the Greek referendum.
I won 1000 euros, 5 minutes after this, they sent me an email telling me that it was an "arbitrary" behavior. He will cancel the order, and not pay. I couldn't believe it !. After response the mail, nobody contact with me, I'm lucky because I'm in Limassol, I'll go to their office to talk in person with manager. I want an explanation. Next step CySec office, and legal actions. Unbelievable.

Added by Chris A. Zacharia on 2015-07-10
Content: Dear Nicolas,

Please note that your trading account has been brought to our attention because your trading patterns raised serious concerns that your account was being used for ‘arbitrage’ activities.

Particularly, we are confident that you were acting in coordination with another client of ours in order to exploit arbitrage opportunities by placing opposite orders. Due to our “no negative balance” policy, the trading strategy you were trying to exploit would have limited the potential loss to the entire balance of the account having the loss making position and the account having the profitable positions to have unlimited upside potential which will duly cover the losses suffered in the loss making account.

This cannot be deemed as an acceptable strategy as you create an environment which does not follow the fair rules of trading and makes the strategy in a way risk free and therefore not permitted.

We can assure you that it is not our wish to trouble our clients and further confirm that we always endeavor to abide by the Client - Company agreement with which you accepted before starting to trade with us.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)

Le Hoang Trung, , Viet Nam

Rating: No Rating
Date of Post:2015-08-07
Review: I have work with they 3 year. All good, Just some news slip that I'm not happy. Recently they changed their policy IB. From $ 10/1 lot now I only get $ 5/1 lot. I'm sure they are good. If the transaction you follow the correct method. No cheating, they are a leading broker.

IVAN, , Colombia

Rating:
Date of Post:2015-07-30
Review: A broker that has change his name 3 times and most probably will do it again smells like SCAM. Don´t even waist your time looking at this broker!
First of all I want to let you know that I have been trading for some years and never seen before what this broker did to my account. I am responsible of my acts, but what can you do when they manipulate your account.
I´ve been trading some signals a friend send me thru Whatsapp, but because of time zone difference and that some times I didn´t saw the signal, I told him to open a signal account at MQL5, so he did and so I subscribe to his signals and he started sending me the signals thru them. I know my friend and he is very conservative, .01-2 lots and he go for at least 20-30 pips.
I double check the settings in my account and start the signal service that didn´t start until 5 days later.
My account was just 400 USD plus 230(bonus XM gave). The first trades started with 4.8 lots!!!! and the 8 Lots!!!!. When I wake up my account was wiped out in a matter of hours.!!!!
I am pretty sure they manipulate the account, but is something that they are never going to accept. My friend opened just 4-5 trades in that hours and in my account were like 15-20 trades!
I know that Andrey (Official Representative of XM) is going to answer this email with an excuse and say that I was the one that made those trades or something like that. No Andrey, me or my friend DID NOT made those trades. I have proofs that I sent to my representative (that should be ashamed of working with XM).
Conclusion: Never, Never, Never, Never and I mean NEVER, open an account and trust your money to this ..."broker".
 
Rebuttal: Added by Chris A. Zacharia on 2015-08-06 03:19
  Dear Ivan,

It is not in our philosophy or our vision to upset any of our clients, however its not appreciated coming to respected forums making allegations about XM, which are false.

The company did not change it's name and trading services have always been and still are provided by Trading Point of Financial Instruments. We did launch two brands but currently we operate only one brand - XM. This information is transparently posted on www.xm.com and on our corporate website - www.trading-point.com.

Please note that MQL5 signal service is provided by Metaquotes Software Corp. and when you are using this service, our company just provides a trading venue to execute trades based on the signal you receive form a signal provider. In other words, when you receive a signal that specifies instrument name, volume and other parameters, your platform redirects a request to us for execution. We execute this request "as is", just as we do will all other trading requests.

Instead of making false accusation about XM, I advise you to contact Metaquotes in order to find out what signal you friend actually sent you.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)

M. Hammoud, Beirut, Lebanon

Rating: No Rating
Date of Post:2015-07-19
Review: I am posting this review being in Forex business for 3 years now, and IB for XM since about 6 months.

Overall XM is great, better than I expected it to be. Their execution is very good, even during news events still acceptable. Neither me nor my clients had problems with TP/SL manipulation as some negative reviewers claimed to have.
They have technical problems sometimes, but usually they are resolved in a timely manner when I talked to their support - who are very friendly and helpful.
My clients withdrew money without problems, I don't know why some people keep claiming that XM doesn't let them withdraw.
The verification process should be simplified and not be so strict, my clients did have trouble verifying their accounts.

My experience with Trading Point is very pleasant and I believe that they are fair and transparent brokers. I advise unhappy clients to take time and read their terms as many of the negative reviews come from people who had slippage or abused their services (hedged the bonus funds etc.). If you trade fair you shouldn't have any problem whatsoever. If you have a dispute or technical issue file a report, talk to their support or your account manager, and be patient. Their support is cooperative and they assist you to the end.

Overall It's been a pleasant experience with XM for me and I hope it stays this way.
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Rocky, Dubai, United Arab Emirates

Rating:
Date of Post:2015-07-12
Review: XM is a good broker with excellelent customer service & very fast withdrawal facility, within 18 hours i recieved withdrawal money to credit card.
But the ONLY problem I am facing with this broker is they r increasing leverage on weekends, becoz of this I lost 1000 USD profit. I am not able to take position on friday closing time with a standard Lot.
My friend got USD 1000 profit with another broker, becoz their LEVERAGE will stay same always.
XM is saying becoz of Greece crisis high fluctuations happening thatz y they r changing leverage. very very poor decision. I HOPE they will keep the leverage always same like all other forex brokers, otherwise i will change the broker soon.

Renjith, Dubai, United Arab Emirates

Rating:
Date of Post:2015-06-22
Review: I dont know how to rate these guys yet. After reading lot of good comments, I joined them.I wanted to make a trial deposit of 50 USD to see how things go. I was trying to use Visa / Mastercard payment methods. To my surprise, I was given a blank page from the payment gateway instead of a page to enter my card details. I did a techinical chat with one of their representative. His coment was "Its working fine Sir, i have checked it multiple times". Why should i write to him, if i didnt have a problem. I am an IT guy and i know the stuff. I tried in various browsers, various computers and different networks. I get the same blank page!!. I it is this tough to make a small deposit, how would be their withdrawal process? I have written 2 emails to them and still waiting for a response. I will update here, if there is any progress. Until then 2 stars!
 
Rebuttal: Added by Chris A. Zacharia on 2015-07-07 01:09
  Dear Renjith,

I can assure that it is not our intent to trouble our clients and to prevent them from funding their trading accounts.

I can also confirm that our payment gateways are and have been working normally. Possibly, your browsers are not up to date and do not support certain features.

I kindly ask you to contact your dedicated account manager and I am sure he will help you in funding your accounts. Alternatively, you can use another funding method. You can find a list of all available funding options in the Member's Area of our website.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)

rogefx, , Malaysia

Rating:
Date of Post:2015-06-15
Review: Good broker and i received profit from no deposit bonus and withdrawal it and get it in 5 days due to regulations. Hopefully 2nd withdrawal will more fast as promised

Travis Turner, Ontario, Canada

Rating:
Date of Post:2015-06-11
Review: Hey everyone
First off I have to say this broker is a complete and utter disgraceful scam company that operates out of Cyprus. I have used them since last year and probably put about 2,000 in there between a couple different type accounts. Well I suck at trading I can admit and have lost most of my money because it was my own fault but not on June 5th 2015 when all my trades were closed and account was wiped out completely. First let me tell about these trades. I had 6 open positions all hedged except for my one trade I had 10.02 lots of Eur/JPY sell and then I had the buy in at 10.01/lots; so my margin was about 201,000% not much to worry about, the rest of NY trades were completely equally hedged.
I was waiting for the right time to pull the plug on my Eur/JPY USD/JPY buys so I could keep my sells open back down the other way. I wasn't going to ever let go of these trades until the buys were in the poaitive, and I was also willing to deposit more money to keep my margin and equity above their 20% call level whenever I was ready to take one of my hedged trades out in oprofits just in case the other trade went against me. So at 5:10 pm eastern time I actually was on my account and took a screen shot of my account details for my margin % and equity and balance which I will be posting in traders court when I submit that application. Well @ 5:28 I log back into my account on mt4 and see that I now have a negative balance andall my hedged trades that i could have left going forever are now closed . I messaged Xm support and they told me that I had went below 20% margin and hit stop out and all my positions were closed out. Well how is this if my margin % was 200,000 18 minutes before and o had not exited any trades? I messaged them back 5 times asking them if they are trying to say that I exited one of my hedged trades and if they even knew what a hedged trade was. No responses , as turned out my trades all would have turned out profitable even though they were all on negative at the time of closure. On new to trading only a year but I know enough that these trades were safe until I decided to start exiting one side of them. Financial trading Point Xm and any name they reoperate under in the future needs to be put to a big time stop. Do not trade with this broker or listen to anyone promoting them. They are just IB, the only people making money with XM are the people working for them.
 
Rebuttal: Added by Chris A. Zacharia on 2015-06-16 05:09
  Dear Mr. Turner,

I am sorry to hear about your experience, however, I would like to ask you to refrain from making such blatant accusations.

Your started hedging trades JPY pairs while having very little equity in your account. Even though hedging allowed to avoid being stopped out for some time but and substantially increase you margin level, but it did not increase the equity of your account. At midnight many bank withdraw their prices and very often this results in lack of liquidity which in turn affects the spreads. When spreads got wider, losses on your short position increased and cause equity of your account to drop below 0. And this what triggered the stop out.

If you have any other questions or concerns regarding this matter, I kindly ask you to contact your dedicated account manager.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
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