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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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Talaat SAID , CAIRO, Egypt

Rating:
Date of Post:2016-02-20
Review: My ID in xm is 13593657

After I take a 30$ bonus and traded for 3 weeks . I make 506$ profit. Just I make a withdrawal to 150$ of them after an hour they close my account and send me email say I use cash back arbitrage .

And this is the mail they send to me

Important Notice

Dear Valued Client,

We are contacting you with reference to your Account(s) no.13593657,(hereinafter “your Account(s)”) with Trading Point of Financial Instruments Ltd. (hereinafter “Trading Point”).

According to our Anti-fraud Department, the trading patterns in your Account(s) raise serious concerns regarding the credit bonuses we have granted to your Account(s), since these were used for ‘cash-back arbitrage’ activities.

Pursuant to the Terms and Conditions applicable to our credit bonuses, the following activities are qualified as fraudulent:

· Any form of arbitrage trading

· Bonuses claimed by multiple Accounts that were registered from the same IP address

· Various practices of bonus manipulation

· Breach of any points included in our bonus Terms and Conditions

· Any fraudulent activities, disputes or situations that our Management considers as fraudulent

Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have decided, with immediate effect to, (i) close your Account(s) with Trading Point, (ii) to nullify all trades carried out in your Account(s) with Trading Point, and (iii) to cancel any and all profits or losses garnered in your Account(s) with Trading Point.

Please note that, in accordance with the terms and conditions, our decisions are final and binding on all participants and that, other than the notification set forth herein, there will be no further correspondence on this matter.

2. I make Complaint Reference Number: TI20160009 in 1-2-2016

3. After 15 work days they send me mail say


Dear Sir,

We have thoroughly reviewed your complaint and concluded that you have violated Clause C.3 of the Terms and Conditions of our No Deposit Bonus offering. Particularly, we have identified that you have used the same android device to trade in your account with other clients of our Company who also received the No Deposit Bonus.

Notes : clause c.3 say

All Eligible Clients are permitted to hold only one (1) “No Deposit Bonus” Account per one (1) unique IP address. Multiple registrations from the same IP are not permitted nor multiple “No Deposit Bonus” Accounts register with same personal details.

Link to term and condition of no deposit bonus http://www.xm.com/assets/pdf/terms/XM_No-Deposit-Bonus-Terms-and-Conditions.pdf

I reply to there mail say in this clause c.3 there is nothing prohibit me to use a mobile android of another person registered in no deposit bonus . just it per (1) unique IP and to the same person


They answer me say

Compliance XM (complaints@xm.com)

to:Alaa TalaatCc: Compliance XM

Dear Sir,

Please note that our below email is our final response in relation to your complaint and no further correspondence will be entered into in relation to this subject.

In view of the above and in case where you are not fully satisfied with our final decision and/or handling procedure of your complaint, please feel free to submit a complaint to the Office of the Commissioner of Administration (Ombudsman) of the Republic of Cyprus.
 
Rebuttal: Added by Chris A. Zacharia on 2016-02-22 02:57
  Dear Talaat Said,

I believe that the Compliance department has provided you with a comprehensive reply that clearly states the reasons for account termination and references to the terms and conditions that you have violated.

Nevertheless, I would like to explain that we have detected 7 no deposit bonus accounts that were accessed from the same device, and this have led us to believe that all of these account, including yours, were opened with sole purpose of circumventing the rule that no deposit bonus can only be claimed once. Moreover, prior to termination of your trading account, your account manager have tried to reach you over the phone multiple times to discuss this matter but you have never answered the phone.

I can assure you that it is not our wish to trouble our clients and further confirm that we always endeavor to abide by the Client - Company agreement with which you accepted before starting to trade with us.

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

David , Nairobi, Kenya

Rating:
Date of Post:2016-02-18
Review: Our company representative will be with you in a moment.

10:24 Andrea has joined the chat.

10:24 Christina has joined the chat.

Andrea | 10:25
Welcome to XM.com! How may I assist you?

David | 10:27
Hello, Why can't i log into members area

Andrea | 10:28
Sir, may I know your account number please?

David | 10:28
13573174

Andrea | 10:29
Thank you Sir.
Have you tried cleaning the cache and cookies of your browser?

David | 10:31
Its nothing to do with that
You also closed all my oil positions


Andrea | 10:32
Sir. Oil positions were closed because the Oil Contract for March expired today.
You can refer to the "Calendar" section in the table on this page: http://www.xm.com/energies

David | 10:34
Still cant login to
http://www.xm.com/goto/members/en

David | 10:35
This does not do enhance investor confidence.....

Andrea | 10:35
Sir, if you already tried to clean cache and cookies, can you try logging in with a different browser?

David | 10:40
That is not the problem...something fishy is going on here.

Andrea | 10:42
Sir, as I can see from the system, your account is fully functioning.

David | 10:43
Yeah but i can not withdraw if i wanted to....

Andrea | 10:45
Sir, have you tried using another browser?

David | 10:46
Yes i have..Microsoft Edge, Firefox, Chrome....All same results NOT WORKING.

Andrea | 10:49
Have you cleaned cache and cookies in all three of them?


 
Rebuttal: Added by Chris A. Zacharia on 2016-02-22 04:23
  Dear David,

I am sorry to hear that you had issue with access to the member's area, however, our representative was genuinely trying to help you resolve the issue. We did not have any issues with our systems and Andrea was trying troubleshoot the problem on your side but you have left the chat before she was able to resolve it, and you did paste that part of the conversation.

I hope that now you are able to access the members area but if you are still experiencing problems, I kindly ask you to contact our customer support.

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

Steve, johannesburg, South Africa

Rating:
Date of Post:2016-01-26
Review: I opened an account at begining of the year. deposited $1000 and traded. on the 25th of January there was a spike on UK100cash. I was short and made $ 10,676 profit. Today 26th Jan while trading my balance on the Platform changed and indicated a withdrawal.Immediately after I received an email from XM cancelling my profits. I feel I have been scammed by this broker, as if I was long my account would had been wiped out.
This broker is a scammer!!!
 
Rebuttal: Added by Chris A. Zacharia on 2016-01-28 05:08
  Dear Stephen,

First of I would like apologize for any inconvenience this issue might have caused you.

I would like to clarify that on 25.01.2016 we received several off market quotes from our LPs, and, unfortunately, one of your trades got closed at an off market price, under such circumstance we had to make certain adjustments in your account. Your trade no. 5973476 UK100Cash was closed on 25.01.2016 at the price of 1926.45 and UK100 has not been traded at this price for over two decades, and, therefore, results of this trade can not be considered as valid. The lowest price of UK100Cash was on 25.01.2016 was not even close to the price you trade had been closed at. You can easily verify this by checking historical prices on websites such as Reuters, Bloomberg, Yahoo Finance and finance related website that price data for UK100.

I understand that you might feel frustrated but, considering the circumstances above, saying that you have been scammed is completely not fair to say the least. It is obvious that the trade no. UK100Cash was executed at an off market price and, as an act of goodwill, we have provided you with a compensation for the inconvenience caused. However, if you wish to further discuss this matter, I kindly ask you to contact your account manager and our complaints department.

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

hamid, Lahore, Pakistan

Rating:
Date of Post:2016-01-17
Review: I try to contact xm live chat just now, they said our Rep will be with you in a momment, i wait for 13 mins and closed the chat but before that i took screen shot of this. I dont know how to upload screen shot otherwise i have uploaded.Very poor support as i have live account with them as well.

2011-07-08 1Star Trading-point is scam and fraud broker. Because they blocked my account for nothing. First, in the process registration this talking was happened with me in chat:


15:26Andy Draniewicz has joined the chat.
Andy Draniewicz | 15:26
Welcome to Trading Point, how may I assist you?
Hamid | 15:27
Hello, I have been registrted to Trading Point, but account login details have not been sent to the email address
Andy Draniewicz | 15:27
When did you open an account Sir?
Hamid | 15:28
Now 15 min before (*****@land.ru)
Andy Draniewicz | 15:29
In our systems shows that mail was sent 8min ago can you please kindly check your mail box and junk mail as well?
Hamid | 15:32
I checked but no sent, 5 min ago i regisrated second email (*****@yahoo.com) and also there is nothing

After that they helped me to open account.
But after 6 days when my account reached over 30 dollar they blocked my account for nothing.
I wrote many letters but they did not answered.
People hope me in that time I did `t know it at all and did not inprinciple it. First I registrated to Trading Point, but account login details had been not sent to my email address. I thought problem with e-mail and after that i registrated to another email and open second.. And first registration I forgot and do not know at all. They did not help me.
 
Rebuttal: Added by Chris A. Zacharia on 2016-01-27 12:56
  Dear Hamid,

I am sorry to hear that you had to wait for so long for our representative to respond. I can assure you that this is not something that happens often and, perhaps, it took longer because our representative had to conduct an investigation respond to your inquiry.

If you have any concerns, I will be happy to help you if you provide me with your account number.

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

mohd hazaruddin, kuala lumpur, Malaysia

Rating:
Date of Post:2016-01-09
Review: 1. I'm still new with XM. Started about a few month back. Honestly, i'm a bit concern reading negative reviews given by their clients. However, there are also good ones that put me at ease.

2. For now this is my take on XM. MT4 platform freezes a few times even though there was no high impact news. Believe me it was not because of my ISP since i'm using fibre connection, browsers and windows updated. Its not a big deal but i do get frustrated when it happened either on my laptop or my android.

3. XM do have a good account manager whom contacted me occasionally asking if i'm experiencing any problem with their service. Through him i also know that XM have an office in Ara Damansara Kuala Lumpur.

4. The gathering of clients and staff from Malaysian office was always good.

5. Got competitions and loyalty bonus that aided me when i'm low on funds.

6. Spreads are competative with other brokers so to me its fine.

7. Execution orders was good except when my MT4 freezes.

8. Withdrawals....this is what most of you are waiting for. So far there wasn't any problem. Request was immediate, approved by XM within 24 hours and received 2-3 days via debit card in my bank account. However, it was credited a couple of times before all amount was received. Would be nice to receive them in one go but as long as i have them all within 3 days, i'm not complaining.

9. For now, i would say XM is a good and serious broker until they prove otherwise. Will update if that happen and no....XM doesn't pay me to give this review.

Jay, Oldenburg, Germany

Rating:
Date of Post:2016-01-07
Review: I've been trading with xm for the past 4 weeks. My personal experience so far is positive. I've withdrew my profits without any problem. I have a standart and Zero account. The standart one is quite similar to many other accounts offered by many other brookers, it is fairly good to start with. The Zero account on the other hand,in my opnion, is a bit expensive (5 usd per lote) even though the spread is almost null in some pairs.
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Ramon Sio VI, Cebu, Philippines

Rating:
Date of Post:2016-01-05
Review: I have been trading with xm for at least 2 years now and so far no problem. Withdrawal was fast and customer service is excellent. Highly recommend broker

Max, Manchester, United Kingdom

Rating:
Date of Post:2015-12-24
Review: XM is an excellent broker for traders who haven't learnt how to make money trading the markets. As soon as a trader graduates from being a loser to being a consistent winner, XM will cause you many many problems with the usual bucket shop tactics.

The micro accounts are useful and a low-cost way to forward test strategies, I prefer to forward test on a live account vs demo account so using a micro means the losses and profits are in the pence/cents. Beyond this, if you can afford it use an ECN broker all the time.
 
Rebuttal: Added by Chris A. Zacharia on 2015-12-31 03:18
  Dear Max,

I am glad to hear that you have found our micro accounts to be useful but at the same time I was surprised to read your comment about the "bucket shop tactics". Can you please elaborate on that?

XM is a reputable financial institution and we value every single client. If you have experienced any issues, I kindly ask to share your MT4 ID and post any specific concerns that you might have.

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

USMAN S A, IBADAN, Nigeria

Rating:
Date of Post:2015-12-21
Review: It is over a year now i have been trading with xm,all the periods i have been incurring losses and there was no issue,recently i bought signals and started making profits.the profit have been consistents and they are upset seeing people making profits.when i made withdrawal they reject my withdrawal saying abritage trading.i replied the mail but there was no response I chatted with some of the staff on about three occassions but all were telling lies.
I traded i made profit and i withdraw only to receive mail,giving flimcy excuses.
They only give the 30$ bonus to lure you and after you have deposited and made profits they starts stories.
I will advise you to stay clear from these scam!!!! the 30$ and all deposit bonus is a scam!! to fraud people of their hardearn money.
 
Rebuttal: Added by Chris A. Zacharia on 2015-12-23 05:40
  Dear Usman,

We value clients feedback and comments, however, you are not being entirely honest with people who might read your review.

The sole reason for terminating your account is multiple violations of the terms and conditions. You were hedging trades in another account and its clear that you were not genuinely interested in trading in the market, and your only goal was to abuse our loyalty program and gain risk-free profits by cashing in the bonus. Please note that we have processed over a dozen withdrawal requests from your account and it has been terminated only when we have detected serious violations in your accounts.

Needless to say that posting false accusations is not fair and does not help other traders in making informed decisions when choosing a broker.

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

Daniel, Lagos, Nigeria

Rating:
Date of Post:2015-12-20
Review: So far, i have had a pretty Normal experience with XM, didn't expect much from them from the very start.
1. Execution speed- Average=> They really need to up their game as regards their execution speed; for swing traders it may not be a problem, but for scalpers, a very huge one.
2. Withdrawal- Bad=> withdrawal Via MasterCard was super super slow, took 5 days
3. Customer Service- Excellent=> The customer service was superb and polite.
4. Spread- good=> Just fine for the average trader
5. Price Feed/Charts- super F*cked=> This is where i have a huge problem with XM, most especially in Lower time Frame Charts, Their charts have Gaps which No other broker would seem to have, and during News periods i begin to see artificial prices.
CONCLUSION- If you're a mid term or swing trader like me, XM is Great, but if you're in the fast lane of the lower time frame, then i assure you, that you will be f*cked over and out.
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