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

Overall Rating: (3.304)
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Total Reviews: 448
Last Updated: 2016-02-11
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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antaran, , Hungary

Rating:
Date of Post:2015-12-11
Review: I am new to this broker, however I have already had the chance to test both negative account protection and withdrawal.
They works.

My concerns and dilemma is elsewhere.

In Terms and Conditions, there is a part:
"53.2 Artificial Intelligence Software:
It is absolutely prohibited to use any software , which we determine, at our sole discretion, to have as its purpose to apply any kind of artificial intelligence analysis to our Online Trading Facility and/or computer system(s) relating to the use of our Services;<...>Under these circumstances, we reserve the right to seize any profits and/or revenues generated directly or indirectly by exercising any such prohibit trading activity<...>
"

My concerns:

1. it is unusual to refer to artificial intelligence in TCs of forex brokers, as:
2. unfortunately for the client (trader): all expert advisors might be considered artificial intelligence software because:
3. the term 'sole discretion' is used without any further explanation,
4. please consider that by definition, artificial intelligence (both software and hardware) is aimed at substitute human decisions and behaviour. So each and every Expert Advisor may be suspended and profits confiscated at 'sole discretion'.

My view:
The broker company should give enough information for clients, who could:
1. either decide that this broker is not for them,
2. or to be able to prepare their EAs 'not to harm' the broker.

Until this is fulfilled, I see the term seizing profits at sole discretion as an attack.
 
Rebuttal: Added by Chris A. Zacharia on 2015-12-15 04:06
  Dear antaran,

I believe that you have misunderstood what kind of activities we are actually referring to in this clause.

This clause is meant to impose legally binding restrictions on those who are not genuinely interested in trading in the financial markets and intend to be engaged in fraudulent activities with use of software that is intended for this sole purpose. Most certainly this does not include expert advisors, scripts or indicators, that traders might use to aid them in trading and conducting market analysis.

Traders are free to use EAs or any other tools that can help them in trading and I can assure that no genuine trader will be affected by this rule. However, use of software that was developed to exploit bugs or inefficiencies is strictly prohibited.

At XM we have created a safe and fair trading environment, and this rule is meant to support our efforts and primarily serve as a warning that fraudulent activities are not being tolerated. I am sorry to hear the you have considered this as an "attack" but I hope that my answer will resolve your concerns.

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

Essa, Vietnam , Viet Nam

Rating:
Date of Post:2015-12-02
Review: XM is one the bad broker ever , their spread the highest in market , i dont recommend someone open with them , they made me loss 3 times a huge amount once EA start automatically with high lot 15 lot , let say this is not their fault , 2nd issue they closed my trade in loss even i had still with them over than 1500 , they made me loss 1300 .. when i talked to they said automatically stop due to our client protection , knowing when the close trade that transaction hits TP was supposed to hit 700 usd . and they say so sorry that all .
fu** them dont try to with only one positive thing they have is fast execution and mac platform
 
Rebuttal: Added by Chris A. Zacharia on 2015-12-18 05:44
  Dear Essa,

I understand that you might be frustrated but your statements can mislead other traders.

We are offering competitive spreads, and this coupled with the fastest execution in the market, gives our clients a definitive advantage. Spreads may get wider for a brief period of time when major news announcements are released but they get back to the average value within seconds after an announcement.

Also, please that 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%. Needless to say that it is important to maintain appropriate margin level at all times in order to avoid this.

If you would like to receive further clarifications, I kindly ask to contact our customer support department.

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

Mahabubur rahman, dhaka, Bangladesh

Rating:
Date of Post:2015-11-24
Review: In volatile market its spread become wide and you will stop out or hit sl , terminal execution speed is poor. they are market maker and bonus is not usable if you try to make double they will lock account whatever your trading strategy.
 
Rebuttal: Added by Chris A. Zacharia on 2015-11-27 01:07
  Dear Mahabubur,

At XM we make every effort to keep spreads as low as possible thanks to our partnerships with multiple liquidity providers. This coupled with the fastest execution in the market, allows to offer unrivaled trading conditions to our clients.

It is a known fact that it is common for spreads to get wider during new releases that have high impact on the market. XM's spreads depend on prices received from our liquidity providers. Uncertainty and sudden market fluctuations are the main factors that cause liquidity providers to widen spreads during the news. Spreads tend to get back to their average values within less than a minute after the news releases.

Please also note that bonus is for trading purposes only, and cannot be withdrawn. We offer you the bonus amount to help you open larger positions and allow you to hold your positions open for a longer period. All profits made with the bonus can be withdrawn at any time.

I have checked your accounts and none of them is locked, however some of them have been archived because balance of these account is zero and they have been inactive for a considerable amount of time.

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

ADEBAYO ADENIYI A, LAGOS, Nigeria

Rating:
Date of Post:2015-11-21
Review: I wish to state here clearly that XM.COM is a reputable fx company since I have been trading with them.

Mostly my withdrawal requests were processed within 4 days and due to inter bank delay, I did have my money on the interval of 10 working day in my Nigerian Bank account.

I chose to say this because, since I have been trading with them, they neither cancled my profit nor hold back my requests.

I suggest XM.COM if you need a good broker with INTEGRITY.


Thanks

ferial nagy, alexanderia, Egypt

Rating: No Rating
Date of Post:2015-11-15
Review: scaaaaaaaaam
On 29/10/2015 I opened an account with xm.com ( account number 2537881 ) and uploaded my documents at the same day.
On 30/10/2015 I received an email that my account is fully validated and i can deposit to start my trades.
Tow days later i deposited 990$ and started my trades and i achieved 2204$ as a profit.
On 5/11/2015 I requested a withdrawal with whole amount 3194$ just to try their honesty.
On 6/11/2015 they sent me my deposit only ( 990$ ) and they cancelled the profit ( 2204$ ) and I received an email from compliance department that my profit is cancelled and my account is disabled because my documents are not accepted although i received an email from them before that my documents are accepted and my account is fully validated.
I tried to contact them again to solve the problem and my account manager asked me for more documents and i already brought these documents signed and sealed and took photos for these documents by my mobile camera and sent them to the company and no reply.
I sent many mails to compliance department and my account manager but they ignore me.
I can confirm that this company is scam and cheats her clients.
 
Rebuttal: Added by Chris A. Zacharia on 2015-11-16 06:53
  Dear Ferial Nagy,

We are always committed in providing excellent service to our clients and we take pride in our reputation. As a European Union regulated broker and since we comply with many authoritative bodies, there are certain procedures that we are bound to follow such as KYC (know your client).

I would like to highlight that the reason for closing your account and refunding back your initial deposit is due to the fact that upon additional review of your documents by our Compliance Department, it has been concluded that the documents you have provided us with show signs of alterations (digitally edited). You have been asked to post certified true copies of the document, but you were not willing to comply with our request.

In view of the above suspicion and as per our procedures, I kindly ask you to provide us with certified true copies of the KYC documents.

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

Chudaraj Pradhan, kathmandu, Nepal

Rating:
Date of Post:2015-11-03
Review: Warning , ...................

xm is not paid my profit amount and not refund my deposit amount. 4 days pending after they did rejected my withdrawal requested and when call my account manager , he told me i will verified your withdrawal and after 12 hour they did disable my account. xm rule is only for client not for company they not paid my amount 4 days long time ,

2015-11-02 2Star I got problem on xm , i requested my withdrawal at 29/10/2015 04:10:35, and they rejected my withdrawal after 4 days ,130 USD and xm didn't paid my money after long time pending, they rejected my withdrawal , when my account manager called me and he told me i will verif your withdrawal but after 12 hour they did reject my withdrawal this is my account no : 2529061 .
 
Rebuttal: Added by Chris A. Zacharia on 2015-11-04 02:56
  Dear Chudaraj,

Your trading account has been blocked because you have violated fair rules of the XM's bonus promotions by engaging in cashback arbitrage activities with another client. According to the terms and conditions such activities are strictly prohibited and may lead to termination of a trading account.

Also, I would like to confirm that your deposit of USD 10.15 was returned in full on the 3rd of November.

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

Rating:
Date of Post:2015-11-01
Review: SCAMMERS!!!!!!!!!!

EVERY THING WAS GOING WELL UNTIL I REQUEST A WITHDRAW OF ONLY 22 $ BUT THEY SENT ONLY 2$ WHEN I ASKED THEM ABOUT THE REASON THEY REPLAYED WITH: YOU MUST SEND AN EMAIL FROM YOUR REGISTERED E-MAIL. AND THAT IS EXACTLY WHAT I DID.

IT IS ONLY 22$ !!!!!!!!!!!!!!!!!!!!!!!!!!!! ****
 
Rebuttal: Added by Chris A. Zacharia on 2015-11-03 07:19
  Dear Aiman,

I would like to confirm that your withdrawal was processed in full on the 26th of October.

You deposited USD 20.00 on the 25th of October and this transaction was reversed and credited to your account, and the other USD 2.00 were recorded as a separate transaction. You might not see a refund of USD 20.00 on your account statement because at the time refund was made your deposit had not been cleared, and upon refund USD 20.00 were released back to your account.

I kindly ask you to thoroughly check your account statement to see that it was not debited for USD 20 that you deposited earlier, which means that you in fact received USD 22.00.

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

KK, KL, Malaysia

Rating: No Rating
Date of Post:2015-10-30
Review: Currently no rating for this broker cause still waiting action & answer.

I'm using xm.com about 3 to 4 months. At beginning I'm satisfy with their support & trusted they are genuine broker.
So all my deposit fund to xm.com have been credited back to me.
Yesterday i requested to withdrawal partially profit from account to my skrill account. Finally over 24 hours the withdrawal status still pending. Have received a mail that requested me to mail they credit card, credit card statement for verification purpose. I did it immediate. after 2 hours contact support, they told me the withdrawal in processing. Anyone experience this broker before? Will update to all traders upon result from them.
 
Comment: Added by Chris A. Zacharia on 2015-11-03 07:28
  Dear KK,

Thank you for choosing XM as your trusted broker and I am very happy to hear that you are satisfied with our services.

I would like to assure that your withdrawal request will be processed as soon as we receive the requested documents. Additional document may be required in cases when a credit/debit card cannot be refunded and a different payment method need to be used. This procedure is aimed at ensuring safety of your funds.

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

Laureano, Nagoya, Japan

Rating:
Date of Post:2015-10-07
Review: Good broker until you have withdraw your money, it seems like scam, I've been waiting for for three week and US$120 just blow up..
WARNING!!!!
 
Rebuttal: Added by Chris A. Zacharia on 2015-10-12 01:48
  Dear Laureano,

I would like to confirm that your request to withdraw USD 128 that you submitted on 24.09.2015, was processed on the same day.

I kindly ask you to double check your credit card account because you should have received the funds by now.

If you have not received the funds, please contact your bank, and if the bank needs additional information regarding this transaction, our Backoffice Deparment will be happy to provide you with ARN number of the transaction.

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

Mohd Rozaidy, Selangor, Malaysia

Rating:
Date of Post:2015-10-02
Review: I set Pending Order (Stop / Limit include TP / SL) but not trigger what price I set. Re-complain to XM but so many not relevant reason.
 
Rebuttal: Added by Chris A. Zacharia on 2015-10-05 05:16
  Dear Mohd,

You have left a claim without sharing your full MT4 ID but I believe you referring to slippage.

Please note that slippages hardly ever occur if you trade with us. Sometimes, however, especially when important economic news is released, due to a sharp rise/fall in the market price, your order may be filled at a different rate than you requested.

I would like to assure you that at XM your orders are always filled at the best available market price.

Should you have any further questions with regard to this matter, I kindly ask you to share your MT4 ID.

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