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

Overall Rating: (3.295)
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Total Reviews: 459
Last Updated: 2016-04-11
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.

Sam, Israel, Israel

Rating:
Date of Post:2016-04-09
Review: - The validation process takes alot of time
- Their withdraw policy is over complicated.
- Support replies are standard templates which doesnt relate to the concern of the cloent.
Other than these points I think its a decent company. However, the reason Im here is a rumor i heard that "XM manipulates the lots or trades." !!! Scary ..
Also, the money back to the source where it first came from !!! This needs to be fixed
I will be testing with small amounts for few months and see what happens

Sam L, London, United Kingdom

Rating:
Date of Post:2016-04-04
Review: Fairly new to forex trading and after trying out multiple forex brokers, XM in my opinion is the best! I was sick and tired of having rejected quotes during periods of high volatility, I have never had this problem with XM. I have a standard account and the spreads are consistently reasonable, regardless of the market conditions. The rewards program and the weekly contests are great!

M.Umair Sheikh, Karachi, Pakistan

Rating:
Date of Post:2016-03-22
Review: I have searched for appropriate broker for along time, to be very honest XM is the best broker but sometimes spread is too high. I really appreciate if XM think about spread costs.

Yesterday I requested for withdrawal and within 2 minutes I received payment in my skrill account. This was really fast, I was shocked ;)

One more thing important to note here, Andrey (Official Representative) is best man for solving issues but others are not looking good. Very bad support!

They always send pre-defined emails without understanding clients problem. I think XM needs to work on this area, this is really important.

john , athens, Greece

Rating:
Date of Post:2016-03-17
Review: scam practice, request withdrawal via skrill, money goes back to debit card
 
Rebuttal: Added by Chris A. Zacharia on 2016-03-18 04:45
  Dear john,

You have absolutely no reason for posting such comments because your withdrawal request have been processed according to the procedures transparently posted on our website.

Please note in order to protect all parties against fraud and in compliance with the CySEC Directive (DI44-2007-08 of 2012) for the prevention and suppression of money laundering, our company policy is to return clients' funds to the origin of these funds, and as such the withdrawal was processed back to you credit card. This applies to all withdrawal methods, and the withdrawal has to go back to source of funds deposit. However, you can choose a different method to withdraw funds once the initial source of funds has been fully refunded.

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

TK1, , Malaysia

Rating:
Date of Post:2016-03-17
Review: A/C 2544408 & 2545055

During the period 13 Nov 15 to 14 Dec’15, I bought a total of `8 X 0.01 lots’ of silver (XAGUSD) at various times and the prices range from $13.696 to $14.324 per oz. Subsequently, I sold all on 17 Dec’15.

In physical and monetary terms, 0.01 lot of silver is equal to 50 oz of silver and its market value would be $700 at $14/oz.

I note that the swap charges that were charged to me for each 0.01 lot that was carried over to the following day is at $0.23/day. On Wednesdays, the swap rate is 3 times. For the whole week, the total swap charges is
$0.23 X 5 = $1.15. For 1 year, it would work out to be $1.15 X 52 = $59.80. In relation to the investment value of $700, that works out to 8.5% pa.

I say 8.5% is way too high when the US interest rate is only 0.25 to 0.5%. Has there been a mistake or it was actually an intended rate of XM. In my subsequent purchase of a similar lot (0.01) with XM in Mar’16, I notice that the charge has been reduced to $0.08/day. If the $0.08/day is correct, then I have been overcharged by about 200% (comparing $0.08 with $0.23). The total swap charges that I incurred for holding the 0.08 lots is $39.59 when it should have been around $13.19 (dividing $39.59 by 3).

In my follow-up with Support, XM, I was told that the swap rates would differ at various times. Can XM clarify whether it was a mistake and if so I deserve a refund for the amount overcharged.
 
Rebuttal: Added by Chris A. Zacharia on 2016-03-18 09:08
  Dear TK1,

Please note that swap rates are monitored and updated in accordance with the changes in interest rates.

When you are comparing return that you can get in a year, you a referring to the investment of just $700 but it not entirely correct because the actual value of a position is much larger due to the leverage used. If are trading with 1:500 leverage, it allows to open a position 500 times the amount you invested. If you look at the return in relation to the amount invested it might be substantial, but in order to make fair comparison you need use an actual value of a position and not the amount you invested. In other words, when you are trading on leveraged products the return on your investment is amplified due to use of leverage.

With that being said, you have always been charged correct swap rates in accordance with the rates posted on our website. I kindly advise you to visit http://www.xm.com/forex-trading from time to time in order to to stay up to date with the current swap rates.

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

Rating:
Date of Post:2016-03-10
Review: Last nite before ECB news, i can't login to my account. Its about 2 hours can't login. When i live chat with them, they said its my fault because i login to wrong server. WTF!!!
After 2 hours, i can login with the same server REAL-10. Really mad with their support.
 
Rebuttal: Added by Chris A. Zacharia on 2016-03-15 07:22
  Dear Nasrul

You have left a claim without sharing your MT4 ID. I kindly ask you to follow up with your MT4 ID to initiate an investigation and transparently present the full data of your claims.

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

Mma, , Saudi Arabia

Rating: No Rating
Date of Post:2016-03-07
Review: I once used XM demo for over a year and then stopped.However,because they keep mailing me with their adverts and promos and my account manager called me once or more coupled with some good reviews about them on FPA I decided to re-open a demo and the n real account.However,since about two weeks that I opened the real account and their validation department requested for a colored copy of my ID which I promptly provided my account remain pending.I have complained through their live chat representatives three times and even mailed my account manager to know avail.They do not seem serious with business nor professional and effective in administration.First impression they say make the most impact.
 
Comment: Added by Chris A. Zacharia on 2016-03-10 12:44
  Dear Mma,

I would like to assure you that is not our intent to trouble you by delaying validation of your trading account but as a regulated financial institution there are certain procedures that we are bound to follow, including strict KYC (know your client) procedures.

I kindly ask you to follow up with your MT4 ID to initiate an investigation and transparently present the full data of your claims.

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

Mohammad Alkhattab, Hatay, Turkey

Rating:
Date of Post:2016-03-03
Review: i have searched for appropriate broker for along time, to be honest XM is the best broker i ever found out in all aspects, i did not face any problem with it. every thing is going well.

Andrzej, Krakow, Poland

Rating:
Date of Post:2016-02-24
Review: Excellent broker like in their ad: Big, Fair, Human. I trade with them from 3 years with no problems. Cool bonuses and loyality points, which can be changed for bonus or cash.
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