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

Overall Rating: (3.397)
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Total Reviews: 409
Last Updated: 2015-03-30
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

Christoph G, , Germany

Rating:
Date of Post:2014-01-20
Review: I opened a micro account with xm few weeks ago and deposited 100 euros. i got a few calls from them that i didnt feel like answering because i thought whats there to discuss when u trade 1 microlot.

however today i felt like maybe i should answer their call so i did and what happened was pretty freaky: an eastern european woman blabbered at me non stop in broken german, acting all bossy and literally ordering me to take part in whatever ridiculous promotion of theirs which is about trading virtual money, kinda like a demo account or so. she justified her request with saying that my trades are too small and rare. (5 trades in 1 week) she used phrases like "what i demand from you is .... " and didnt allow me to say anything and only when i switched to english (because her german was really bad) she would start listening and begin to display some level of politeness. the last time someone talked to me the way she did was during the 1980s back in stalinist east germany.

i decided to withdraw 70% of my balance because i had lost any trust in xm and i afterwards i noticed that they erased my deposit bonus completely even tho i had only withdrawn 70 of the 100e i initially deposited.

Andrey, Toronto, Canada

Rating:
Date of Post:2014-01-18
Review: I decided to test this broker for a month, made some money and requested a withdrawal. To my surprise they divided the total amount to profits and initial deposit. The initial deposit was sent to my credit card, and I had to request another withdrawal request with another withdrawal method (bank wire) for my profits. It's a little bit disappointing because I had to pay $15 fee for the bank wire. I finally received everything within 4 business days. I.e this broker DOES pay your money back, not without little surprises though. Anyways, I recommend XM to traders.
And one more thing: Andrey -Official Representative of XM (Trading Point of Financial Instruments Ltd. answered to someone's complaint below: " The reason why your profit was not sent to your credit card that you used to make deposits, is because your credit card issuer does not accept refunds in excess of the initial deposits." I can say that this is completely wrong, I received my deposits and profits back to my CC with another brokers without any problems. It is NOT our CC issuers problem it is XM policy. So I would offer you guys state it clear in big letters when people register their account with you.

Give you 4 stars for this little surprise.

TrucDoan, Vietnam, Viet Nam

Rating:
Date of Post:2014-01-16
Review: My account no, is 2162818
I traded on NF 10 Jan 2014. Another account of my friend copied my transactions but reverse orders for trading strategy. As confirmed from my IB on November, 2013 (he talked with his XM Personal Account Manager and was confirmed that allow to trade any strategies if don’t use bonus) and also XM Customer Care department also confirmed that traders can do hedging on 2 accounts if don’t use bonus, just trade with their funds. When I got profits, they cleared profits and said that we violated their rule because traded hedging on 2 accounts. They violated their confirmer (they don’t care 2 their confirmed about allowing to trade any strategies if don’t use bonus). It is scam actions.
 
Rebuttal: Added by Chris A. Zacharia on 2014-03-11 04:04
  Dear TrucDoan,

Bonus does not have to do anything with our decision to terminate your trading account The problem is that hedged positions were opened minutes before the NFP release to take advantage of sharp price movements and our favorable trading conditions (negative balance protection, fast execution, and high leverage). This allowed you to generate abnormal and almost risk-free profit that after the internal investigation was considered as invalid.

In the email conversation with me, you denied having opposite position and that you are unaware of the opposite position in the second account but later you said friends have access to your account and that they could have copied your trade. Later, you have finally admitted that the owner of the second account is your friend.

This, coupled with the fact that you were asking our customer support prior to enraging in activities that can be considered as fraudulent, clearly indicates that hedged position were opened not in the course of normal trading activity, but to exploit company's trading facility and you well aware of the opposite position in your friend's account.

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

kamran, lalamusa, Pakistan

Rating:
Date of Post:2014-01-13
Review: Man dont tell a lie
what do you mean by price latency ? Two trade on very same time one in profite and one in loss
you took profiite back and did not gave my loss money back ?

I recommend all the ppls dont trade with them
otherwise you will lose your all profit any time
only trade with them if you think you canntot earn profit
Earning profit is crime here

2014-01-08 1Star Dear Andery,
please don't tell a lie you took all the profite from all my three account and what about price latency?
i place two trades very same time one went in 559$ profit and other went in 225$ loss
what you did is deduct 559$ profit from my account and did not even touch 225$ loss
and your reason was 559$ trade was price latency trade and 225$ loss was good trade
so if you lose money you are good and whenever you earn profit that trade is price latency
and in my third account there were very normal trades you have cheat me 53$ from that account too
simply i recommend all the people here to stay away from them

and from next week i will start post this on all my blogs and many other place i am an SEO expert i will make sure that i will tell maximum persons in the world about your cheater system

Dear Kamran,

Our Execution and Anti-fraud Department has brought to our attention that the trading patterns in accounts raise serious concerns that your account has been used in abusive way / exploiting price latency arbitrage opportunities.

We sent you a warning but you ignored it and continued to engage in activities that we are considering as fraudulent. After several unsuccessful attempts to convince you to stop exploiting price latency arbitrage opportunities, in accordance with the terms and conditions governing trading accounts, it has been decided to refund your current balance of your account and permanently suspend them.

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

2014-01-02 1Star Do not trade with them they are buch of cheaters.
If you lose money they wont ask anything and once you earn profit and withdraw the money they will disable your account , close all your trades and send your deposited money in your account back

i am sure they are using fake softwares for there plateform

Rebuttal: Added by Chris A. Zacharia on 2014-01-07
Dear Kamran,

Our Execution and Anti-fraud Department has brought to our attention that the trading patterns in accounts raise serious concerns that your account has been used in abusive way / exploiting price latency arbitrage opportunities.

We sent you a warning but you ignored it and continued to engage in activities that we are considering as fraudulent. After several unsuccessful attempts to convince you to stop exploiting price latency arbitrage opportunities, in accordance with the terms and conditions governing trading accounts, it has been decided to refund your current balance of your account and permanently suspend them.

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

Muhammad Arsalan Fahim, Karachi, Pakistan

Rating:
Date of Post:2014-01-12
Review: Cheaters, Scam, Fraud.
There motive is simply not letting anybody make profits.
I had minor issues in past as well during last 4-5 months but I kept ignoring however I always complained and told them about the issue.
On Friday, 10th Jan 2014 just before NFP I bought Gold considering my technical analysis and judgement risking whole my account but fortunately my trade gave a good profits. I have every proof of it also. Now today they sent me an email telling that you are using some algo/EA which is bull**** and your account has been disabled moreover you will not be given your profits.
The last time on NFP when I had losses they didn't bother to listen to what I said and I gracefully accepted losses. Now this time when I made profit the losers X(sca)M can't take it . They are DISGUSTING and s*** headed people are serving there. I bet they can't prove that I was using any Algo/EA because I wasn't. Listen people from XM I am not gonna take s*** from you guys any more and you better return whole of my Balance which was $1181.27. When every time I accepted losses on major Data , this time I will definitely accept and need my well deserved profit too.

osarun, Tokyo, Japan

Rating:
Date of Post:2013-12-16
Review: pros: customer support is good.

cons: system is not so great.
1. can't request new additional accounts via the client console (member site). need to have (manage) same number of client consoles as numbers of trading accounts (can't consolidate information at one site).
2. system don't send back confirmation mails of executed withdraw and internal transfer requests. comments of funding history is garbled.
3. spread of majors are bit larger than average.

2012-05-18 1Star Withdrawal is too slow.
It could not come back at this rate.
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Usama, Dubai, United Arab Emirates

Rating:
Date of Post:2013-12-08
Review: Do not deal with this company. Worst of the lot out there. i am currently dealing with many other companies such as alpari, gkfx, forex.com from the last 4 to 5 years and have great experience with them but i have never seen such an unprofessional company.

i should have taken the warnings from other traders on FPA seriously before opening my accounts with this company however the sugar coated replies filled with technical terms from the XM team members deceived me.

My account no, is 2149812.

First of all just because i was making money, XM markets suspended my accounts, secondly they also reversed back my trades and my profits and sent me a notice that now my account has been closed and i can withdraw my amounts.

I have sent the withdrawal request on 1st of November and after waiting for 1 month i was just refunded a profit amount of USD 4500 approx and after 40 days i still do not have my capital amount of USD 17500 approx.

Their accounts team is so incapable that they cannot even send me the swift receipts or any proof that they have refunded the amount to my CC as they claim and in return are asking me to send my CC statements to them. Why should i send my personal statements to them when they can sort this issue out by just sending proof they have refunded the amount to me.

Horrible service, sneaky methods of dealing. stay away from this company.

And admin when you send your reply to my post with all of your technical terms now, dont forget to mention when you will be refunding my capital amount to me as thats all i am concerned about right now.
 
Rebuttal: Added by Chris A. Zacharia on 2013-12-10 06:16
  Dear Usama,

Following a thorough investigation of your trading account by our Compliance Department, we hereby would like to inform you that, based on a detailed review of the trading activity in your account on the 22nd of October, 2013, we have concluded that, due to the frequency of the alternating trading positions that occurred in your account just before, during and after the news announcements in question were made on the 22nd of October, 2013, the transactions carried out in your account at that time clearly reflect a technological and/or algorithmic trading pattern that was aimed at exploiting price latency arbitrage opportunities on our Company’s trading platform and at taking advantage of the internet delays which do not reflect the market rates at the time your trades were executed; this was achieved through the use of an expert advisor and therefore could easily manipulate sudden fluctuations in prices.

Please note that we took into account that you might not have been aware of how this EA works, and, although, profits on trades recorded in your account before the 22nd of October, 2013, also relied on price latency and were performed using the same expert advisor, were not cancelled and the profit of USD 4,956.45 was sent to via bank wire.

The reason why your profit was not sent to your credit card that you used to make deposits, is because your credit card issuer does not accept refunds in excess of the initial deposits.

It is not fair to leave such a deceitful review when you, whether knowingly or not, were using fraudulent trading techniques.

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

Aleksandr, Togliatti, Russian Federation

Rating:
Date of Post:2013-12-05
Review: I have experience with XM for over one year. I had 4 more accounts with other brokers, but XM is the best! There are a lot of advantages: first place taking attention to the clients and fast response (immediately or within half an hour). No question have been left without response from my account manger Valentin Kostin. Spreads are not lowest, but acceptable, no problems with withdrawals. If other companies are trying "softly" sell their lessons and training courses, at XM.COM there are really working trading signals, but no chatter in theory! Off course for any ruble I have spent for my training I have no regret (I had such lessons outside of XM), but in my opinion most importantly to have real practice and XM.COM is giving you real support for this.

Many thanks to XM!

Giulia 11139641, , Italy

Rating: No Rating
Date of Post:2013-11-30
Review: I am using XM as forex broker and i am really satisfied. Withdrawals are processed in less than 24 hours, and my Account Manager Greta is really helpful to me! Great deal !!!! really

Rohit, India, India

Rating:
Date of Post:2013-11-19
Review: They are not giving my profit and saying bad excuses. They say they can't allow third party deposit but anybody can make a third party deposit. But if you make any profit they will not give payout.
 
Rebuttal: Added by Chris A. Zacharia on 2013-11-21 02:46
  Dear Rohit,

All your trades were cancelled because you decided that a warning that XM does not allow 3rd party deposits does not apply to you.

You used a Skrill account that belongs to another person.

We cannot prevent new clients from depositing funds. You can make a 3rd party deposit but once it's been discovered, it will be refunded. All deposits are constantly monitored by our analysts and all 3rd party deposits are always refunded regardless of profit or loss. This applies to all methods of depositing funds, including Skrill. Moreover, before cancelling your trades, our Backoffice team asked you to verify that this Skrill account belongs to you but you failed to provide any proof.

I do not think you are in position to blame us for this situation because it is your responsibility to follow the rules and AML procedures established by the MiFID regulations. If you don't have your own Skrill account, you could have contacted your account manager and I am sure he would have been able to offer an alternative method of deposing funds.

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