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

Overall Rating: (3.477)
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Total Reviews: 370
Last Updated: 2014-04-20
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

Mujahid Hussain, Karachi, Pakistan

Rating:
Date of Post:2013-07-23
Review: Today I placed a sell stop order at 0.9270 (AUD/USD) before the news announcement (CPI), my order got executed at the same price but Xemarkets changed my order from sell stop to buy limit. Price went down by around 30 pips but instead of making profit I lost $98. Furthermore, they claim to have guaranteed stoploss which is untrue because my account in now showing -$17.
And they also cancelled my bonus of $185 yesterday while I was having many open trades due to which I lost more than 70% of my account balance.
I have all the proofs and screenshots and I can prove whatever I've said.
I've had terrible experience with Xemarkets.
Account No: 2143558
 
Rebuttal: Added by Chris A. Zacharia on 2013-08-02 12:50
  Dear Mujahid Hussain,

I would like to inform you and that in accordance to your trading logs you have actually placed a Buy Limit and not a Sell Stop order. XM does not alter any client’s trades as you are suggesting. Kindly see below.

2013.07.24 04:29:11 182.XXX.XXX.X6 '2XXXX8': order #1XXXXX6, buy limit 0.40 AUDUSD at 0.92700

Moreover, your accounts are being accessed from multiple IPs (from different continents) within a 10 minutes span.

In regards to the stop loss, on your mentioned trade you have not placed any stop loss value, however if you are referring to stop out, kindly note that the trade has been executed during market news. It is important to know that in sharp and sudden market movements it may be not possible to trigger stop out at its value, nevertheless in those cases, and in your case as well, when client’s account goes into negative balance we always reimburse the negative value, as it was applied in your case (kindly check EXP01 comment in your MT4 history) . Your negative balance was -$7.72 and not -$17.

In regards to the bonus, kindly note that in accordance to our terms and conditions clients who participate in rebate programs through third party websites affiliated with XM are not eligible to participate in the Bonus program.

Thank you

Carol P. – Official Representative of XM (Trading Point of Financial Instruments Ltd).

Hai Phi, Ha Noi, Viet Nam

Rating:
Date of Post:2013-07-22
Review: XM is the deceptive financial institutions, they are always the excuse to cut commissions or commission refused payment of IB, you should not work with this scam broker.
 
Rebuttal: Added by Chris A. Zacharia on 2013-07-23 02:03
  Dear Hai Phi,

You have left a claim on FPA below without sharing your MT4 ID.

We will be waiting for your follow up with your MT4 ID to take action and transparently present the full data of your claims.

Thank you

Carol P. – Official Representative of XM (Trading Point of Financial Instruments Ltd).

Jackie Sim, Hong Kong, Hong Kong

Rating:
Date of Post:2013-07-17
Review: I am extraordinary satisfied with my broker. They are an all rounder doing nearly excellent on all fronts.

Very satisfied with the level of service I am receiving and more over very satisfied with their trade execution.

And you really have to give it to them, they are one step ahead with their website its second to none.

Reliance Ranjan Dash, India, India

Rating:
Date of Post:2013-07-10
Review: This company is going to be next scammer very soon. They just sent me my initial deposit and ate all my profits...!!
Last week everything was OK. The live chat person kept telling that your money will be processed soon. And then suddenly my

account got terminated...!!
They are just following a new scheme like if the client losses, then good or else if he wins, refund the initial deposit.
I guess for this they are using 100% bonus offer to trap beginners, so that they will collect the money.Either they will run

away or else they will eat the client's all money by giving disgusting and non-logical reasons.
GuyS dont deposit with this broker.As they are not giving withdraw in 24 hour, not even in a week. Rather,if u will win and have some profits,they will close your account without giving any valid reason.
I will fight for this as i know i was true from my side and i can prove who was wrong .Hope FPA will help me.

2013-07-03 2Star this company is really making fake promise regarding withdraw in 24 hours. Leave 24 hour,i guess they wont give your withdrawal in a week also. i applied a withdraw to my skrill account, they are saying your withdraw will b done asap.They pretend to be very helping, but they are just opposite to it, careless and unprofessional and unhelpful.
It has been around 5 to 7 chat in these 4 days,every time they say same thing"i have informed back office, your withdraw will b done on priority base" They have just changed the definition of priority.

Lam, , Viet Nam

Rating:
Date of Post:2013-07-07
Review: My account 2135965. I use Z300205177xxx to deposit XM account. And I make withdrawals via Z300205177xxx, too. But they said that they don't accept funding from third party (Because My name on webmoney is different name on XM) and They said that they would refund my money. I agree it but I'm waiting more 3 days so I comment here. My purpose only receive refund, please check it for me, thank you.
 
Rebuttal: Added by Chris A. Zacharia on 2013-07-23 02:07
  Dear Lam,

It is in my understanding that the issue has been resolved and that your money has been received.

Thank you

Carol P. – Official Representative of XM (Trading Point of Financial Instruments Ltd).

budiono, , Indonesia

Rating: No Rating
Date of Post:2013-07-05
Review: Dear XE market Support

I wish to complain my trading, ticket no. 1105492. My trade is USD/JPY
i see on daily confirmation that my trade ticket no.1105492, have close trade and reach stop loss level at price is 101.222 ( close time is : 22.08 ) dated : 2013.07.05

i see on USD/JPY chart on time frame 1 minute, especially :
on time 22.07 until 23.19, ( dated 2013.07.05 ),
The highest level of USD/JPY is 101.212 only.

My stop loss level of USD/JPY is 101.222.
My question is :
why i my trade reach stop loss level at 101.222 ?

Please check at the time frame 1 minute ,on time 22.08
>>> The high level of USD/JPY is : 101.200 only

We look forward to hearing from you,thank you.
Best regards
Budiono
 
Rebuttal: Added by Chris A. Zacharia on 2013-07-08 02:30
  Dear Budiono,

Order #1105492 was a Sell Order with a Stop Loss at 101.222. Sell Orders are opened at the Bid Price and closed at the Ask Price. Kindly note that MT4 charts are showing only the Bid Prices this is the reason you see 101.200 as the highest price. Your order was closed at the Ask Price and the highest Ask Price at 22:08:44 on 05.07.2013 was 101.225 (Bid Price + Spread). In order to display live ask price line on your chart please right click on the chart window >>>properties >>>common tab >>> tick “show ask line “. In case of any further question regarding this or any other matter please kindly contact our support team which will gladly assist you with all the queries you may have.

Thank you

Carol P. – Official Representative of XM (Trading Point of Financial Instruments Ltd).
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NATHAN THUITA, NYERI, Kenya

Rating:
Date of Post:2013-07-05
Review: I have been trading the Forex market for about two years now,joined trading point(now xm.com-xe markets) ten months ago and have been with them all through.In summary,no major problem with them in trade execution....The classic MT4 works well, my fill speed is fine as compared with other brokers....at least two seconds at most....spreads are better and most importantly fast deposits and withdrawals.....all my credit/withdrawals are filled at the stipulated time stated in their official website....in short greater professionalism exhibeted by xm.com including their friendly customer support who have helped me in any issues related to my account.....Will have them for their excellent service and i highly recommend xm.com especially for beginners.

ahmed mostafa ahmed afifi, sharqeyah, Egypt

Rating:
Date of Post:2013-07-04
Review: hello
xemarkets stolen 12000$ from me i hope my problem resolve my problem is that i opened account with this company number 11117718 and i made 500$ deposit after 2 weeks my balance become 12248$ i tried to verify my account first they accept my paper and only want the back of my civil id after i sent it they said no please send utility bill i sent new one they said no please send bank statement after i sent it they said ok you have to answer some questions then we verify your account i answered it then they said no please we want you to certify your bank statement after you certify it we will verify your account i certified it they said ok we accept it then after 5 days they said you have to answer some questions then we verify your account i answered it they sent message to me today that they refuse my papers and decide to terminate my account i have all my papers and i am ready to send it to anyone in the world to take my right again and i have all original papers i am sure that i will take my right and i hope forexpeace academy contact my mail to send all of my papers to them to ensure from all what i say maryam22zaher@hotmail.com please help me to take my right
please help me as i donot have any money to my life as i lost my work and hope to restore my money from this company which stolen me i am ready to give my mail password to forexpeace academy admin to check contacts between me and xemarkets back office i have all messages at sent file i hope that forex peace academy wil help me
 
Rebuttal: Added by Chris A. Zacharia on 2013-07-08 02:42
  Dear Ahmed Mostafa Ahmed Afifi,

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 accounts and refunding back your initial deposit is due to the fact that you have provided us with edited documents as a proof of residency. You were initially residing in Kuwait and the first account you opened with us was verified. However after more than 6 months you opened another account, and by law we are obliged to verify your account again. You have re-allocated to Egypt (and you gave us different excuses for your move) and the documents you have sent us were not correct. Therefore we requested you to send us certified documents from the court or a bank, but your documents were sent to us certified by a University. Your account was undergoing investigation by our compliance department and after full review your documents have been deemed unacceptable by our company.

Moreover, your accounts are still being accessed from a Kuwait IP and an Egyptian IP, even though you have informed us that you are currently residing in Egypt.

Your account manager was always in contact with you and he has tried calling you several times however you refused to be contacted by phone and just to be reached by e-mail.

Kindly note that in such case and under the provision of the laws specified in our terms and conditions, XM is bound to refund the deposit back to the credit/debit card, close your trading account (s), nullify all trades carried out in your trading Account, and to cancel all losses/profits garnered in your trading account (s). XM has already refunded back your full deposit of $500.

We strictly advise you to read our terms and conditions which are transparently posted on our website. XM operates and complies with all the European laws and directives for the prevention of fraudulent transactions, and as such is not bound to, nor tolerate any threats and/or comments on any forums posted by clients as means to receive money after their fraudulent actions.

Thank you

Carol P. – Official Representative of XM (Trading Point of Financial Instruments Ltd).

Alfred, Nakuru, Kenya

Rating:
Date of Post:2013-06-26
Review: The best thing about XEMarkest.com is that they have excellent client service. They have always been in contact with me and they are indeed very helpful. Other than the telephone conversation, one can always chart with anyone including the staff in client services. In particular, Adam has been of much help and is always willing to assist.

Nikola Miljevski, Ljubljana, Slovenia

Rating: No Rating
Date of Post:2013-06-17
Review: As I promised, I would like to report what happend. People from XE Markets answered to my questions very fast. My account manager even called me. The reason for closing my positions was simply that they expired. But, there is something I don't like. The name of the positions was OIL-JUL13. So, I assumed that they expire on 13th of July. But no! The expiration date was different then that. The name was very misleading. And the expiration date is unfortunately not written in the trading platform, but only on their web site. So, the lesson was: never assume anything until it is explicitely stated. I learned that the hard way :(.
Other thing that they could possibly change is to inform the trader about low margin by SMS. Once it happend to me to have low margin and they informed me by message on the trading platform, but not by e-mail or SMS. SMS would be great. I think that some other brockers do exactly that.

2013-06-16 No Rating I trade wit XE Markets for a while and I used to like it. I withdraw money and they came to my bank account in three business days.

But yesterday (Sunday) a very weird thing happened. Three of my positions suddenly closed. Since on Sunday markets don't work, price wasn't changing. Only two possible explanations that come to my mind are:

1. Somebody hacked my account,
2. It is a server error

I have read on another forum complaint from a trader that his positions were closed by the server, XE Markets admited the errror and he was refunded. I hope for the best, since I lost a lot of money. I wrote to the support team and to my account manager and expect their explanations. After that I will report here.
 
Rebuttal: Added by Chris A. Zacharia on 2013-06-19 11:21
  Dear Nikola Miljevski,

We would like to bring to your attention that you were trading Crude Oil and the reason for the sudden closure of your positions is due to the expiry date of the contract which ended on 16th June 2013. We would recommend you to check the 2013 Calendar for Future Instruments to avoid a sudden closure.

You can check the calendar for standard account here  http://www.xemarkets.com/pdf/spreads/spreads-standard_2013.pdf or visit our spreads page http://www.xemarkets.com/spreads

Thank you

Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).
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