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

Overall Rating: (3.409)
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Total Reviews: 392
Last Updated: 2014-10-22
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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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.

Wisnu Adi Prasetya, Jawa Tengah, Indonesia

Rating:
Date of Post:2014-10-13
Review: XM.com is NOT FAIR and BAD SERVICE when resolve this case issue.
My Trading Account suspended and I cannot use it again.
Their XM Team never give me a warning email or something kindly attitude!
They suspend my account and then give me an email said that my acccount suspended because of the high frequency of transactions/orders.
GOOD broker should give warning BEFORE suspend SO RUDE. I t is not fair enough, We are social human, Issue can disscused first. NOT LIKE THIS. SO RUDE attitude! DISSAPOINTED!

PLEASE NOTE I only GOT ONE EMAIL said ACCOUNT SUSPENDED! NO WARNING MESSAGE or GOOD ATTITUDE

eric st-yves, canada, Canada

Rating:
Date of Post:2014-10-12
Review: I open 2 account with them .

I blow up one account , no problem .everything go very well , but ...

When , i do some money ( around 50 $ over) ,
they freeze my account for investigation without notice ,
i chat with them , and less than 24h , they unfreeze my account without explanation .

One week after ( october 7 , 2014) , my profit was around 150 $ over .
They closed all my open position with losses without notice ,
they closed my account .

The reason after was " xm market dont to bussiness with my country (canada) .

But they have no reasons to closed account witout notice or any delay .
But they have no reasons to closed all open positions witout notice or any delay .

A serious business dont to that this way .

Berlian, Medan, Indonesia

Rating:
Date of Post:2014-09-16
Review: Hey guys,

I had trade in this brokers more 2 years. I think its brokers good. I can withdrawal not more 2 days.
If I get problem in withdrawal, I can contact his IB in Indonesia, usually he will be help me to process my withdrawal.
Until now I think its broker is good.

CostaRicaFX, San Jose, Costa Rica

Rating:
Date of Post:2014-08-25
Review: Hi All,

I would like to update everyone with a little bit of information on XM.com. There are two items I would like to cover and that would be my experience with their card over the past months as well as a Western Union deposit I made a little over a week ago.

Let's Start with the card - I have the XM USD card. It works like a charm online and in shops. Once I had a slight issue and it was my fault. I went to a supermarket and they had a datafone with a chip reader in it and the device asked for my pin number and I had yet to memorize the pin and I had to use cash. Other than that it has never been turned down and it is a great tool. I will be loading my card with funds from my MT4 account this week most likely and I will update everyone on the process and how it goes.

Western Union Deposit - this was a nightmare but it was not XM's fault. I tried WU at a shop close to my office and was told that the transfer had to be completed in their main offices on the other side of San Jose. The issue was based on the fact that the system they use here in Costa Rica has yet to be changed from CYPRUS POUNDS to CYPRUS EURO or CYPRUS USD. So, I thought to save time I would ask for Money Gram details. My account manager provided the details and I popped out and went over to TELEDOLAR to make the transfer. I thought this would save time but it created a nightmare. The girl at TELEDOLAR in San Jose asked me for my ID and my phone number and address as well as the amount to be sent and the details of the receiver in Cyprus. I provided everything that she requested. She then proceeded to ask me if I knew the person and give the little scam warning that they give to people who send money abroad. The girl then asked me for two references and their phone numbers. I refused as the transaction was between me, MG, and the person in Cyprus and I blatantly asked why we needed to involve others in my transaction. She then tossed my ID card at me and said, "no puedo hacer el envio que tengo un ben dia" (I cannot make the transfer - have a nice day). I have escalated the incident to the management of TeleDolar and I am on their case about it. Being very agitated I went to the WU main office in Sabanilla and they attended me in less than 10 minutes. I sent my account manager, Helene, the details by email from my iphone by email and the next day the funds were in my account. I did not receive the full amount however and I think this was my fault. The guy at WU had never sent money to CY before so he sent EURO en lieu of USD so I lost USD$8.00 in XM's currency exchange. I did receive the advertised 50% bonus credit on the amount deposited and since it was my first WU deposit Helene held my hand all the way.

XM behaved very well and were very helpful during the entire process. MoneyGram agent TELEDOLAR is a ripoff and if you are in Costa Rica and wish to send MG to XM its best to avoid TELEDOLAR.

UPDATE: In y initial post I mentioned the online platform and I did not grade it very highly. I was informed by XM that they had made changes to the platform and the current platform is better and I would increase the grade to a B. I would like to see the ability to upload EA's to their online platform. This would rock!!

2014-07-08 5Star Hi All,

XM.com is my current broker and my ONLY broker at the moment. I have been dealing with XM.com for a little more than one year. During which time I have won trades as well as lost trades. I have also had part of my bonus taken away due to a withdrawal I made to test and see if they were legit. My account balance is not that much as I am still learning but rather than use a demo account I prefer to use my money as it makes me focus more on learning and being cautious.

I opened my account with XM.com based on a recommendation from a friend of mine who has traded larger amounts with them. Upon opening the account I was contacted by Helene. She assisted me with the account opening process as well as getting verified and explained to me that she was my assigned account manager. Once verified I deposited the large sum of US$20.00 . Now get this, after making such a small deposit I traded using their 1:888 leverage and did well and lost some. With only US$20.00 on my account at that time I received emails and phone calls from XM.com checking in to see what I may need as well as to guide me to their online educational tools and some basic details on services provided etc. I proceeded to deposit more as well as make more trades with them. Once I had made some profit I made a small withdrawal to see just how it works and if they were legit. The withdrawal was done within a few hours and it took almost 2 weeks to have the funds posted on my credit card. The bank made a complete mess of the transaction and after emailing the bank manager several times they finally sorted out the issue.

I want to take a minute to dissect the services offered by XM.com and grade each one based on my experiences. I am not a full time trader nor do I have a huge account balance but I have a good idea of what I want, what XM.com offers, and what I will tolerate.

Online Trading Platform – Grade C – difficult to use and unsightly. I do not care for this platform whatsoever and it is difficult to navigate and limited.

Deposit Methods – Grade A – All of the basics and they are pretty quick. I want to test Western Union deposit methods out as well to see just how that works. Since my local bank has become a bureaucratic money hog I want to try alternatives to deposits as well.

Customer Service – Grade A+ - My account manager is top notch. Anything I need she is there to answer questions and to guide me. I can say that she has never once asked me to deposit more funds into my account nor has she ever told me how to trade. She has given suggestions on topics I should study and research.

Withdrawals – Grade A – My bank was slow and I could not find fault with XM.com

Loadable Debit Card – Grade A – Excellent tool for withdrawals as well as daily use. I purchased the card and four days later it arrived by DHL. Funded the card and I used it for the first time in a super market on Saturday. Before I could even sign the slip I received a text message stating that the card has been used and the transaction amount. The SMS also stated that if I did not make the purchase to call them immediately. The only thing I would like to see as far as the card is concerned is real time account statements online and not by request. Sometimes you just want to check something quickly and with this card you have to send in a statement request.

Trading Signals – Grade B – I don't think this is their fortee to be honest. It would be nice to get them by email and not have to log on to their Member's Area. Sometimes those of us who are not full time traders are on the road or at work and we can trade via our cellphones or tablets. An email to our cell with signals could be a good way to start the trading/work day off. I have only used them a few times because of this but all in all signals are not my cup of tea. I tried signals from providers and even on Zulu via a demo account and most of them are not very accurate. I have a subscription to Faunus and I have lost more using their signals than by using my own method.

Training – Grade B – The video lessons are just a set of helpful videos to show you how to use the technology XM.com has to offer. I think that XM as well as all other forex brokers lack one major detail and that is real training. I think XM.com should find a basic strategy or teach people how to research and find their own basic strategy. Most of the newbies go out into the world of forex naked and with no idea of what is going on. I did and I had to waste time and money to find my way. My account manager did make some suggestions however to assist me in my search for the right strategy and I am slowly but surely on my way.

Order Open and Close Time – Grade A – I have never had any issues other than internet connectivity issues. Since I do trade from my cellphone quite a bit there have been issues with closing order due to the 3G internet connection having problems. I have only lost a few cents here and there and I have earned a few here and there due to this issue. MT4 is always fast and quick and no issues so far.

My overall score for XM is an A. I have not had issues and if I did I would have been the first one to squawk about it. I am increasing my account balance soon and will be reporting on any changes thereafter. So far I am very pleased with my experiences with XM and I think that others will be too.

ewriter, SINGAPORE, Singapore

Rating:
Date of Post:2014-08-23
Review: Atif from Pakistan, i that is where you are really from, thanks for your illuminating videos and screenshots showing an apparent delay in the trading platform XM provides. It is truly deplorable that you do not know how to spell 'their.' Instead, you constantly mis-spell it, using 'there.' Please! to be RIGHT you NEED TO SPELL RIGHT. Anyways, back to your point: it is plausible there is a real delay between the two trading environments; this is simply because real trading accounts, although they may be pooled together for pricing delivery, are unlikely to be pooled in the execution technology. Besides, the delay according to your video is negligible -- perhaps a few seconds. Personally, i believe regardless of any delays, you would be able to gain significant profits with a good methodology and disciplined money management. I have been with XM for only a few months (not a staff only a novel account holder) and i have grown my account by 300% for evidence see my Signal on mlq5.com LONSDALE. It cannot be subscribed to (unfortunately) since the account leverage us too high. However, clearly it is possible to profit with XM (although the rollover is too high). Closing trades rapidly to avoid rollover or other losses is, IMHO not a good methodology and we need to help XM to disgorge much more of its profits back to us, if we are to make this world a better place!
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Muhammad Nadeem Zafar, , Pakistan

Rating:
Date of Post:2014-08-11
Review: I have experienced “XM” as outstanding forex broker with no time execution of trades. Immediate withdraws & deposit make it different from others. The best thing which keep me trading with this broker for last three years is its customer service. They treat each customer with respect, particularly their representative takes my issues as its own issues & ensure timely resolutions. I always have good wishes for this trader.

Damian, , Poland

Rating:
Date of Post:2014-08-11
Review: XM is a huge scam. Doesn't allow you to close trades when they are for instance too profitable. Would never recommend this broker to anyone. There are thousands of great brokers that play a fair game and this one is just a huge scam. The slippage is terrible because of the very slow servers, they are lagging all the time. I had accounts with many other brokers and it is just uncomparable XM is that bad. When there is increased volatility the spread is so high that it's just unbelievable. Very unhappy with their service.

your exclient

Zakir Ahmed Choudhury, Assam, India

Rating:
Date of Post:2014-08-05
Review: XM is a TOTALLY scam company,They are not broker,Last friday 01/08/2014 I noticed that they adjusted 660$ from my account without any reason,I sent many mail and requested on live chat to solve this and back my 660$ to my account, but they don't hear me,even I try to contact with Mr JEET Singh who was saying that he is my account manager, but he is not contacting with me.so I request all traders kindly think first to make an account with such an fraud company
 
Rebuttal: Added by Chris A. Zacharia on 2014-08-11 06:54
  Dear Mr. Choudhury,

Following a thorough investigation of your trading account(s) by our Compliance Department, I hereby would like to inform you that, based on a detailed review of the trading activity in your account, we have concluded that the transactions carried out in your account on 01.08.2014 were executed at delayed/stale prices. Accordingly, we have determined that transactions that relied on the above-mentioned price latency arbitrage opportunities cannot be considered as legitimate.

I would like to apologize for any inconvenience this may have caused you.

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

mohamed Alhaffar, jeddah, Saudi Arabia

Rating:
Date of Post:2014-08-04
Review: XM is Scam Broker ,,,My ID Account 11178746
they Don't give me my Profit
 
Rebuttal: Added by Chris A. Zacharia on 2014-08-11 06:52
  Dear Mr. Alhaffar,

I believe you referring to a trade no. 18418351. As you have been informed via email, this trade was cancelled because of an error in the execution price. The trade was executed at a stale/delayed price which did not reflect the actual market rate at the time of execution. I regret to informed that the profit garnered due the said error, cannot be considered as legitimately made on your behalf.

I would like to apologize for any inconvenience this may have caused you.

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