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

Overall Rating: (3.291)
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Total Reviews: 463
Last Updated: 2016-06-14
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.

anthony, nairobi, Kenya

Rating:
Date of Post:2016-05-27
Review: all, brokers ar more or less the same. you deposit your funds according to thier terms and conditions. however to make money you need skill, someone said to be an expert you need 10,000 hours doing it, they were very right. i have used xm.com for a long time. prior to that i changed bbrokers often. at first i thought the broker was the problem but i realised my emotions, trading system and patience was the problem. unless you are risking all your money in one trade, you should be fine with any broker who has no requotes, for precision entry.
forex is not a get rich quick means, like every other financial instrument, its risky, and takes skill or guts to make it. risk a little to make a little more, when you lose, lose a little like say 2% of your account when you gain make 3% of your account. small gains with smaller losses will get you far in the longrun.
bad brokers have extra ordinary spreads, poor executions with requotes and are likely to not accept withdrawals.

Kishan Tadingi, , India

Rating:
Date of Post:2016-05-24
Review: This is the worst experience to me with this broker. They are scammer I think so. Market releasing with strong news but there is no changes of any price. I have deposited little of money, slowly they are taking it negative balance.
 
Rebuttal: Added by Chris A. Zacharia on 2016-05-27 04:01
  Dear Kishan,

Please note that we aim to get optimal prices from all our liquidity providers. Real time prices are aggregated from liquidity providers in order to offer best bid and ask prices to clients. Our electronic pricing engine allows us price updating on every currency pair three times per second, and thanks to this our prices reflect the current global forex market levels.

What you have described seems like an issue related to weak connection to our server, and we will be happy to help you resolve it if you contact our customer support department or your account manager.

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

Toni Montanov, , Bulgaria

Rating:
Date of Post:2016-05-22
Review: I've been using this broker for years, depositing is easy but the withdrawal is not, also their team is a bunch of illiterates called osama who can't speak English, if you need some support help, they'll just waste your time. I'm really happy I got away of them, I'd rather go to instaforex which sucks totally, than xm. Also, xm is not their first name, they change it every 2 years, before that they were trading-point, then xe, now xm. Respectable businesses don't change their names, only scammers do that. Also, I can assure you that they bet against you and sometimes the spread goes very big just enough to hit your stop loss, I've compared with other ECN brokers, only xm had this spread, they did it on purpose, this has happened many times to me. A total screw this company is, stay away.
 
Rebuttal: Added by Chris A. Zacharia on 2016-05-27 03:54
  Dear Toni,

I am sorry to hear that you have not been fully satisfied with our customer support.

Please note that we are offering competitive spreads but at times of low liquidity or during announcements of major economic news, spreads may deviate from their average values due to underlying market conditions.

I would like to assure that customer satisfaction is our number one priority and if you wish to discuss this matter further, I kindly ask you to contact your dedicated account manager.

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

SAJID HUSSAIN, , Pakistan

Rating:
Date of Post:2016-05-13
Review: ALL DEAR TRADERS

I AM WORKING WITH THIS BROKERS SINCE 2012. I HAVE TRIED MANY BROKERS AND FACING MANY PROBLEMS LIKE "RE-QUOTES,SPREAD, AND MANY MORE.
BUT MY EXPERIENCE WITH XM.COM IS EXELENT. THE MAIN FEATURES ARE:-
-QUICK PROCESS OF WITHDRAWAL.
-NO RE-QUOTES.
-LIVE SUPPORT IS EXELENT.
-HELPING ATTITUTE OF ALL XM.TEAM.
-VERY CLOSE CUSTOMER RELATIONSHIP OF PERSONAL A/C MANAGER WITH THE CLINT (IN MY CASE MR JEET SINGH ,MOHAMMAD YASIN).
AS I HAVE EXPERIENCED WITH THIS BROKER OVEE ALL ITS EXELENT.

I SUGEST TO MY FELLOW MEMBERS IF YOU REALLY INSEARCH OF GOOD AND HONEST BROKER GO FOR IT.Y OU WILL NEVER FEEL REGRET ON YOUR DECION.

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
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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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