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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

bambang arfianto, , Indonesia

Rating:
Date of Post:2014-07-22
Review: As what other user said and experienced the same problem as me, I also want to clear this up and to tell that the previous problem that happened has been resolved, and XM also already responsible to the mess that caused by this matter. I hope it won't happen again in the future. Thank you.

2014-07-15 1Star This would be my third post regarding my case, and none of the XM representative in FPA care to give any response.

But I wouldn't care too much about that as since my first post I also communicating with them by email, and the last 3 emails from them was assigned to their Indonesian Account Manager.

Both from their International and Indonesia support are kept saying that "they did nothing wrong" in their eyes, and what they've done was seems legal for them.

I'm tired of their same answer again and again, I explained to them that I understand what they meant (because they kept giving me explanation in trade-positions-equity calculation) in every emails they gave me, which means they forced me to agree of their practice.

The real problem is not it, these are the real problem:

1. XM perform actions that change my open trades without my PERMISSION
2. XM apply the change all the positions that I have without any notice
3. What have XM did have screwed my trading strategy
4. Margin levels that I have was still far enough to withstand the floating loss, so there is no reason that my loss position had to be changed by XM (IF they would argue this matter as a margin call)
5. XM DO NOT HAVE THE RIGHT to arbitrarily change my trading positions both either in the profit and loss conditions
6. With the explanation of the XM which keep saying that there's nothing wrong with the changes and my loss was just equal to $0, but judging from my side, my loss is much greater than just $ 31.22, due to return to the starting position before XM revampedthe open positions require a long time to trade

I hope any existing members and new members should be aware of this practice, I'm going to submit this case to FPA, Cyprus Securities and Exchange Commission, and New Zealand Financial Service Providers Register as where XM licenses issued and all financial authority of where XM registered.

2014-07-10 1Star it's me again, with account number 11159251, after i did an investigation on my account, apparently XM.com did what broker shouldn't do, they move my floating position into the point where the price started on 00.00 MT4 server time today (July 11, 2014 - 1.36073/1.36101), so they deducted all my negative floating trades and move them into one same price. This all happens with all my EURUSD trades.

XM.com has been INTERFERED my trades and deduct the negative trades as "variation withdrawal" WITHOUT MY PERMISSION

Trading Point Of Financial Instruments Ltd

Account: 11159251 Name: Bambang Arfianto Putra Currency: USD Leverage: 1:888 2014 July 11, 08:27
Closed Transactions:
Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
17780919 2014.07.11 00:22:34 balance variation #17718472 [2014.07.10 -0.54
17780700 2014.07.11 00:21:58 balance variation #17170169 [2014.07.10 -0.88
17780699 2014.07.11 00:21:58 balance variation #17169563 [2014.07.10 -1.03
17780698 2014.07.11 00:21:58 balance variation #17169549 [2014.07.10 -0.97
17780697 2014.07.11 00:21:58 balance variation #17168379 [2014.07.10 -0.98
17780696 2014.07.11 00:21:58 balance variation #17167896 [2014.07.10 -0.97
17780545 2014.07.11 00:21:35 balance variation #15933957 [2014.07.10 -2.17
17780466 2014.07.11 00:21:21 balance variation #15862822 [2014.07.10 -3.56
17780465 2014.07.11 00:21:21 balance variation #15862548 [2014.07.10 -3.59
17780464 2014.07.11 00:21:21 balance variation #15862081 [2014.07.10 -3.64
17780457 2014.07.11 00:21:21 balance variation #15854418 [2014.07.10 -4.16
17780456 2014.07.11 00:21:21 balance variation #15851881 [2014.07.10 -4.20
17780455 2014.07.11 00:21:21 balance variation #15849436 [2014.07.10 -4.53
Summary:
Deposit/Withdrawal: -31.22 Credit Facility: 0.00

2014-07-10 1Star before i submit case, i want to try here first to get an answer from xm.com rep, because your live chat rep was not helping at all, here's the chat transcript:

Our company representative will be with you in a moment.
04:27 Mariana has joined the chat.
04:27 Viktorija has joined the chat.

Mariana | 04:27 Welcome to XM.com! How may I assist you?

bambang arfianto | 04:28 my account number 11159251
i need clarification on my trading account

bambang arfianto | 04:29 moments ago, i received so many withdrawal notification, what is happening??

Mariana | 04:29 Hello Sir, of course
I will check it now
just a moment please

bambang arfianto | 04:30 ok, i'm waiting

bambang arfianto | 04:33 do you see those in my account?
hello??

Mariana | 04:34 Yes I have checked it now
thank you for the patience Sir

bambang arfianto | 04:35 can you explain those withdrawal with comment "warious"?
"variation" i mean

bambang arfianto | 04:36 those actions already cut my balance about $30

bambang arfianto | 04:39 can you give me an answer?

bambang arfianto | 04:40 hello???
anyone there???

Mariana | 04:42 I am here Sir
give me another moment please

bambang arfianto | 04:42 give me an answer please, don't just quiet there

bambang arfianto | 04:46 it's been 18 minutes and you haven't give me any real answer!

bambang arfianto | 04:49 heellloooo???

Mariana | 04:52 Sir, thank you for your kind patience
Sir, please let me contact the relevant department for you and we will get back to you via email
I will need to ask the relevant department to investigate this

bambang arfianto | 04:53 how long will i get the answer from this your "relevant" department?

bambang arfianto | 05:01 i'm really curios, what makes you so hard on giving me an answer, it always took more than 5 minutes for every answer you gave me
and now you're going silent again!

bambang arfianto | 05:02 i ask you one more time, when will i get an answer from this your "relevant department?

bambang arfianto | 05:06 are you really still want to stay silent??

bambang arfianto | 05:08 alright, i'm bringing this case to forex peace army then, so other people can be aware of this practice

05:08 bambang arfianto has closed the chat.
Copyscape:
0% match | Checked Jul 10, 2014

Rebuttal: Added by Chris A. Zacharia on 2014-07-14
Dear bambang arfianto,

We understand your frustration and we can reassure that we have identified the problem and we have already addressed it.

Between the end of the trading day on Thursday 10/7/14 and the beginning of the trading day on Friday 11/7/14 (Server Time) a technical error on our trading servers has resulted in open trades of certain instruments to be presenting unrealized profit and loss at that time as realized profit and loss.

Please be noted that your overall account performance has not been affected in any way from this error.

We would like to reassure you that the issue has been resolved by our team.

If for any reason you require assistance please feel free to contact your account manager or our support desk.

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

Edward Ng, K.L, Malaysia

Rating: No Rating
Date of Post:2014-07-15
Review: Regarding the Variation charges on XM has been resolved completely.
They explained it with details and satisfying answer. Their service are 24/5 stand by reachable and surprisingly their live chat even work on Saturday and Sunday !

I appreciate the efforts of Mr Constatinos, Head of Affiliates,that he is always caring and supportive. Well Done

Hope XM will keep it on their good services !
recommended Broker !

2014-07-11 No Rating I am a IB working for XM nearly 1Year and so far I am very satisfy with their services. They are very polite and their platform have no troubles with deposits and withdrawals.

But on 11/07/2014 , my accounts and all my clients accounts are charged with VARIATIONS.
I have no idea what is the variation charges and I've sent several emails and live chat about this matter. And yet I have not receive satisfy answer, they just ask me to wait.
I have waited more than 12 hours and now is 24 hours and still counting.

I hope to get what is actually happening on my accounts and my clients account regarding the Variation Charges !

My Account number : 2180133

Please resolve this matter with hasty action.
I will send you my clients accounts number that are affected with Variation Charges.

Samrana , Rahim Yar Khan, Pakistan

Rating:
Date of Post:2014-07-08
Review: XM is not a broker they are the market makers. They don't want you to make money. But if you are a loser they shall be with you. If your account is floating on daily basis they shall give you protocol but if you make money they shall block your accounts. and their execution is the worst in the world. Even if u put a stop loss to a position they don not consider it they shall close your position at market execution and 30 pips below the stop loss and then they say "its market condition" for proof my account no is 2145771 and position number is 8477420 and 8477421. They wait untill you don't lose all the money in your account.

Scam they are. We all group workers are leaving XM.COM and XM know we were extremely loyal to XM.COM
 
Rebuttal: Added by Chris A. Zacharia on 2014-07-17 02:12
  Dear Samrana,

You have been trading with XM for almost a year and I regret to see you post such comments about our company.

I can confirm that your trading has never been blocked for any reason and remained active since its registration date.

Stop Loss on orders no. 8477420 and 8477421 was, indeed, executed with a minor slippage due to the fact that it was triggered during the news announcement when the was extremely volatile. We do guarantee fills on stop loss orders, and even though you stop loss was slipped because the requested price was not available, it helped you to avoid bigger losses on these two positions.

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

Abu Monsur, Chittagong, Bangladesh

Rating: No Rating
Date of Post:2014-07-08
Review: This is one of the good brokers I have ever used.I like their trading condition but their support should be improved and this is why I gave 4 rating .N.B.also 5 minutes times should be lessened to 1 minute for the affiliates

ERIC F, FRANCE, France

Rating:
Date of Post:2014-06-27
Review: Xm.com opens an Affiliate account and gives you tools to perform promotion of their services.

They always wait you to recruit quantities of “referrals” under you, in order to let you pay the campaigns, promotions etc…

After you have spent a lot of money to get lots of active customers, and when commissions become heavy to pay to the affiliate, they trigger the great excuse that you can’t promote the services under their own name, they block payments by pretending you are cheating on them, but of course producing not a single proof to you.

The fact is that you will never have problem with small amounts and small quantities of referrals. At the contrary, months after and as soon as you have find rich and active clients under you, the process is triggered and gives them big active customers, without any cent spent on marketing and promotion.

No distinction between Honest affiliates with misunderstanding actions done and abusing ones etc...

What an easy way to get profit from that method with many people spending money to promote the XM.Com services.

Completely dishonest Company, even when you explain yourself with perfectly honest explanations, they will never respect their word. We have now filled a case to legal Firms with all details in order them to investigate to prevent anyone from being fooled this way.
 
Rebuttal: Added by Chris A. Zacharia on 2014-07-08 12:58
  Dear Mr. Fournier.

We consider it unethical for you to calling XM “dishonest” when you as an affiliate has clearly been engaging in dishonest activities.

Although the below has been clearly communicated to you via previous communication with our account managers and you have accepted your mistake, you seem to have now changed your mind and have decided to be posting false, inaccurate and deceiving information on a respected forum like the forexpeacearmy.com.

In order to maintain our transparency I am publically sharing the information sent to you:

It has been discovered that you have been running ads on the Google CPC by bidding on the keyword XM and XM.com which are both trademarked terms. The ads have have been discovered by the Google Team with which we maintain an advertiser/publisher relationship on May 9th and following up on their discovery they have informed our Marketing Agency about it. As a trademarked brand no third party is allowed to bid on the keywords XM,XM.COM or any other forex keyword combined with XM.

Free riding advertising on trademarked terms on CPC networks are a clear violation of our terms and conditions point 29.1 which you have agreed upon during registration as an XM partner. Our terms and Conditions can be found at http://partners.xm.com/docs/xmpartners.pdf

In simple English language you have been trying to trick clients to register through your link by bidding on the brand name of XM. It is not considered advertising when you are in essence trying to trick clients that are looking for the website of XM on a search engine like Google or Yahoo or Bing to register through your affiliate link rather than coming directly. Google does not permit it and neither does XM or any other company that posseses a brand name.

Finally although we maintain the right to close and block your affiliate account due to violation of our terms and conditions we informed you that you are violating the terms and conditions and agreed to only accept commissions payable for clients registered under your account after May 9th 2014.

It is really sad to be seeing your posts here on the FPA and we will not tolerate this kind of behavior. If this continues it will be escalated to the moderators of the forexpeacearmy.com

Thank you,
Chris Zacharia - Official Representative of XM (Trading Point of Financial Instruments Ltd.)

Usman Zafar, Pakistan

Rating:
Date of Post:2014-06-24
Review: xm is very good broker i am with xm about a year
My account manager is very very good person.
he describe each and every thing in very good way.
i want to told all persons that he helps me as a account manager in every matter and
when ever i want to talk him he contact with me with in few minutes.

XM is very good broker company, its gives me support in every step. Their live chat program is very good.
Those people who says that, they did not received the withdrawal is giving wrong statement.
i take withdrawals many times and having no issue, i verify that.
This company is growing up because of nice persons like my account manager which is giving good support to their customers.

Regards,
Usman Zafar

2013-11-25 5 Stars Hello
All my friends i see this page and some people put the comments that they have some issue with XM.
i am telling these people it is happening because they did not fully read the term and condition of XM.The company tells each and every thing when we starts the account.
I have a great experience with XM. Here all staff is very supportive. Specially my Account Manager. He describe in very easy way. I am in initial stage, i takes two times withdrawal but i have no issue regarding this.
i am inviting my friends towards XM because of their good support and persons.
Thanks to XM Teem

Usman Zafar
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EJAZ AFZAL, Chishtian, Pakistan

Rating:
Date of Post:2014-06-24
Review: XM Broker is very Excellent for anyone. specially my account manager is very help full for his/ her.
He is contact with xm clients in any time when they feel any problem.
so new client join xm broker without any hesitation.because xm broker take care their client any time.
Account Manager nature wise a good person he is very very cooperative for their clients.
thanks reader for reading my statement for XM BROKER.....

abdul sattar, sgd, Pakistan

Rating:
Date of Post:2014-06-23
Review: XM is a total scam broker.
Jeet Singh is XM account manger and he is always drink beer and a stupid person he cannot contact with his/her client and this XM broker cannot pay withdrawal.
5 months ago XM broker is very good broker but i told total scam broker its my advice to all new clients plz cannot work with this scam , thief , and stupid company total scam scam if anybody want to see the proof fraud scheme of this company contact with me in the discussion thread linked to this page.
scam scam scam pure pure pure scam

2014-06-05 2 Stars xm is cannot pay my withdrawal i lose 10000+ usd but when i gain 2100usd xm cannot pay my withdrawal i am very upset 2100usd is my investor money he told me that he will kill if cannot pay him money i am very upset when i am go to live for contact my account manger live support told me that he will contact u soon but no any call i am very upset my account manger told that we will send you money i cannot receive money if any one want screenshot that contact me on my skype zainab.zahid1 i will show u my problem with proof. and today my acount is also disabled
 
Rebuttal: Added by Chris A. Zacharia on 2014-06-25 06:26
  Dear Abdul,

I understand that you may be frustrated but we have made every possible effort to help you in this situation, and there is absolutely no need to insult or blame employees of XM for this situation.

Your withdrawal of USD 2,100 was processed on 22.04.2014 to your Skrill account and you as requested it was confirmed with the screenshot of this transaction. We have also contacted Skrill after we received your complaint, and they have confirmed that USD 2,100 was successfully transferred to your account.

We have processed the refund and are no longer in possession of these funds. For obvious reasons we cannot further trace this money in the Skrill's system. However, we have been informed that Skrill's VIP Team will get in touch with you and will assist you on this matter.

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

Karim Hemmat, Egypt, Egypt

Rating:
Date of Post:2014-06-09
Review: Was good, but started to be very sloppy. My stop loss in the non farm payroll closed with a huge slippage for the first time with them, it costed me 1200$ loss over my original planned loss. When i asked for a compensation ( i have traded with them worth $50,000 USD in multiple accounts) they said no, very stupid to when i have traded so much money there & i have a FOREX institute where all my students register there.

Very disappointed with them.

Seems ill start looking for another broker soon. They should have given back that 1200$. It is small money compared to what was & is invested there, it`s all about the concept.

Hicham, agadir, Morocco

Rating:
Date of Post:2014-05-26
Review: this broker is very good .and the customer supports very helpful
i think they are going to be in the top of forex brokers ;
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