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

Overall Rating: (3.365)
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Total Reviews: 426
Last Updated: 2015-07-22
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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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.

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.

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.

Nicolas, Limassol, Cyprus

Rating:
Date of Post:2015-07-06
Review: 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.
 
Rebuttal: Added by Chris A. Zacharia on 2015-07-10 06:09
  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.)

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
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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.)

craig sweeting, scunthorpe, United Kingdom

Rating:
Date of Post:2015-06-08
Review: im with most reviews on this forum xm is a scam broker please do not sign up with them. My last ever trade with them wiped my account I had a buy stop with them that entered 30 pips worse than the price I wanted then it went 84 pips past the stoploss I had so 110 pips differnet to what it should be. ive had a few 20 pips during the high news releases due to slippage but 110 for this come on??. ive noticed a few go past my stoploss by 20 pips during big releases but they never seem to go 20 pips in my favour when I go the right way doesn't this tell you something??. Also again high news releases the spread goes massive to stop out your position its froze my app plenty of times during aswell they say there execution is less than a second I find this very doubtful. Every forum I go on and tell them xm is my broker they laugh and call them a bucket shop broker and any decent broker doesn't offer free bonus incentives like them and they are a market maker. Basically they are out to get you and take your money.
 
Rebuttal: Added by Chris A. Zacharia on 2015-06-11 01:23
  Dear Craig,

XM is a reputable and transparent financial services company and is by all standards a leader in the Forex Sector; needless to say that majority of the reviews on FPA are actually positive. We always do our best to resolve and clarify issues or concerns that our clients might have.

Slippage may occur in volatile market conditions (i.e. during market-moving news events, or particularly in active markets) orders get executed at market price if prices have not moved in the accepted latency times. However, when the price has moved significantly, you will be filled at the best price available. This can work out to be either in your favor or against it.

We make every effort to keep these discrepancies as low and as rare as possible thanks to our partnerships with multiple liquidity providers. However, when important economic news is released, you may be filled at a different rate than the one you had requested, which is due to a sharp rise or fall in market prices. XM guarantees that your orders are filled at the best available market price.

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

Angry Water, Taipei, Taiwan, Province of China

Rating:
Date of Post:2015-06-05
Review: I was just "robbed" all of my deposit, caused by the auto-close lots of the trading platform's risk management.

But no one told me what's the rules' detail? Even when I asked my XM assistant, he told me, "I don't know.", what the cr**!!

When I was doing hedging, sometimes there will be lots auto-closed by the system and marked as "so:", I don't even have any menu to tell me what does it mean? And how come it just jump out and robbed my deposit automatically?

Such as this picture, there are many "SO:" closed lots, when the position EURUSD just made a huge wave, and all of my deposit was eaten:

https://lh4.googleusercontent.com/-Rrs5_96KhQA/VXGuZ9cxfwI/AAAAAAAAAqE/B7dnDfuHMO4/w1140-h855-no/loss.png

It happened like this: I was doing hedging, will break even at the position about 1.19999, still need about 30 pips went down, almost there, but I was worried about the sudden huge up wave, so I made a pending buy order far from the current position about 50 pips up.

When the disaster came, it suddenly went up 70 pips in 2 sec. The pending order was executed, so my hedging suddenly become the lost side. (Original is profit side down)

In The next 2 sec. it suddenly went down 170 pips again, so my making profits' hedging became huge loss, just in 4 secs.

What I will complain is, even the situation, I still have some credit to wait it to become profit again, or I can just add some deposit again to do better hedging.

But the system just closed them all in the next 1 sec and gave me "EMPTY DEPOSIT ALL" record in the history and marked as "SO:".... Did the system mean, "I just robbed you all, 'SO' what?"

I can understand there must be a rule to protect risk growing too much to cancel it, but WHERE IS THE RULE?

I know if I have enough deposit, it may not happen, BUT... wait, if I am so rich, how do I need to trade to lose? I am struggling just because I am so poor and not that much money to deposit.

The system just ate all of the deposit in 1 second, never left any chance to let client make thing right, I don't think this is a good algorithm to treat clients.

After all, WHERE IS THE RULE FOR "AUTO CLOSE CLIENT'S LOTS TO CANCEL RISK?

If I don't know it, I will be a nude guy staying with a group of pirates and waiting them to rob me with blades and guns anytime I can not even know or avoid them.

(PS: the assistant of XM is useless, slow and don't know anything.)
 
Rebuttal: Added by Chris A. Zacharia on 2015-06-11 01:09
  Dear Angry Water,

Please note stop out occurs when your equity drops to or below 20% of your used margin. At that point, the system will start closing your trades one by one, starting from the most losing one, in order to decrease the used margin, and by doing so, increase the margin level, attempting to push it above 20%.

This is an automated procedure and I can confirm that your positions were closed down by the system when your margin level dropped below 20%.

Stop Out levels for Micro and Standard accounts are transparently posted on our website - http://www.xm.com/margin-and-leverage, on the FAQ page, and in terms and conditions which you accepted when you started trading with us.

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

busayo, lagos, Nigeria

Rating:
Date of Post:2015-06-05
Review: i opened an account with this company almost a month ago and funded it immediately before validating the account in order not to spend the money on other expenses. i forwarded my identity card and my bank statement which they rejected, later i forwarded my drivers license and electricity bill which they complained about again that the address on their system does not correlate with the latest documents i forwarded. this is not understandable to me because the address on my drivers license and the electricity bill correlates with the address on my account and on my identity card except the bank statement which carries the address of my former apartment. 13110248
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