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

Overall Rating: (3.425)
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Total Reviews: 401
Last Updated: 2015-01-25
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

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.

raiyan hossain, dhaka, Bangladesh

Rating:
Date of Post:2013-11-19
Review: wonderful broker.i like your service.i will invite all of my friends to join xm. very helpful.

thanks

David, Béziers, France

Rating:
Date of Post:2013-11-18
Review: This broker cut accounts and positions, very bad communication with backoffice.
 
Rebuttal: Added by Chris A. Zacharia on 2013-11-19 06:22
  Dear David,

XM never closes positions on behalf of the client unless a request to close a position is sent through the trading platform or a client gives such instructions over the phone.

I kind ask you send me your MT4 ID and I will investigate your claim. My email is andrey(at)xm.com.

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

Weing Hong, Malaysia, Malaysia

Rating:
Date of Post:2013-11-10
Review: Here was the problem, I open 3lot of position at 1320.31 of gold, then it go up to 1332.41 when i closed it i saw my position is profiting, but then XM closed my position at a non-existing market price (1319.16) which non the lowest or highest price of current market. I get deal with the company representive but they tell me because of news they reject to give me the profit i should get. So i now i decide to sent this case to FPA court cause already take too long of time to deal with XM but still cant get the profit i should have.

Here was the history and the local representive analyse my position

http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/28659-xm-trading-point-scam.html
 
Comment: Added by Chris A. Zacharia on 2013-11-19 05:59
  Dear Weing Hong,

The problem with you order was solved more than 2 weeks ago.

You were fully compensated for your that resulted from your order being executed at a stale price. Moreover, not only was your loss reimbursed but also you received additional compensation.

I think you would be fair if you update your review and inform other traders that this issue was solved instead of writing new reviews and falsely accusing us of not taking any actions to solve this problem.

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

Syed Afaq Ali Shah, haripur, Pakistan

Rating:
Date of Post:2013-10-30
Review: My account number 11136407
i like xm forex contest arena i won 156$.
mr jeet singh very nice person My account Manager..
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KSIHAG, , India

Rating:
Date of Post:2013-10-29
Review: I got a email from them that they have forwarded the issue to their Appropriate department and will update about this within 24 hours

i have asked them to come here on FPA so that other traders can know what is going there

my account number 2150663

i will continue updating this issue

2013-10-29 No Rating Please wait for joining this broker untill this issue is resolved , so you can know what they are doing

Don't join this broker unless you want to say good bye to your money( i say this from my experience with them till the time of posting this comment lets see if they resolve this issue )

they will always do their best to get you into loss so that they can earn

I had an account with them

i opened an order and it was in profit but i was thinking to take more profit so i was holding the order.
but when market moved and my account get some floating loss they removed credit money from my account that decreased my account margin level so that i can loss and they can earn money with my loss
and they succeed

my order closed in loss bcoz they reduced margin level of my account and if they haven't done that i was not lossing money

and they send me a mail that it was done bcoz of any of the below given reason and there was 5 reason given from that i have to choose one for my loss,they didn't given a reason bcoz there was not any so they sent me a list to choose from

it was same like you have to choose a reason from list for your loss

very funny
isn't it?

i ask them that if there was something wrong then they should tell me a valid reason, refund my deposit money and close my account.

they did all this to close my order in loss so they can take that money
if there was a valid reason they prove this here in FPA
also sent them a email regarding this and waiting for them to respond here on FPA

So friends Please wait for joining this broker untill this issue is resolved , so you can know what they are doing
 
Rebuttal: Added by Chris A. Zacharia on 2013-11-04 01:29
  Dear Ksihag,

First of all, I would like to make it clear that your profit or loss did not have do anything with our decision to remove the credit bonus from your account.

This decision was based on a detailed review of the trading activity in your account and in other account that is connected to yours via several IPs. The trading patterns in your Account raised serious concerns regarding the credit bonuses we have granted to your Account since these were used for ‘cash-back arbitrage’ activities. Pursuant to the terms and conditions such activities are forbidden.

Please note that a warning that such activities are prohibited is posted on the Welcome Bonus page, yet you decided to ignore it. Therefore, we had to deduct the bonus amount from your Trading Account and cancel any further bonuses for your Account in future.

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

Mohd Firdaus Mohd Yussof, Kedah, Malaysia

Rating:
Date of Post:2013-10-27
Review: Please check account 2151991, you have closed my account without let me know first. Please refund back USD1845 to my Local Bank using Bank Wire. I will update FPA, once i got the payment from XM Markets. I hope XM will process it fast for me. Then only i will say XM is good. Thanks
 
Rebuttal: Added by Chris A. Zacharia on 2013-11-04 04:29
  Dear Mr. Yussof,

As you have been informed your refund was sent via bank wire on 29.10.2013. You should have already received the funds or will receive them within next few days.

I can advise you to call your bank and ask them if there are any pending incoming transactions. If your bank requires any additional information about this transaction, our Backoffice department will able to provide you with it.

Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd)

Kristine, , Philippines

Rating:
Date of Post:2013-10-26
Review: Hi! My account number is 11123940. Around the end of September, I applied for a withdrawal of partial funds to my credit card. However, after a few days, I received this email from them:

"Kindly note that as your card/s does not belong to the CFT program,our payment processor provider is not able to process withdrawals (back to the same source) exceeding the sum of the total deposits made using your card/s.
Therefore ,the exceeding amount of USD 70.00 must be transferred via an alternative methods like: Moneybookers or Neteller, in case of which, we would kindly request to provide us with necessary details.
Note that we are able to send the amount of USD 30.00 back to your credit card.
Kindly resend your withdrawals request including additionally one of the alternative withdrawal methods listed above."

I am still working on increasing my funds so that I could choose to withdraw by bank transfer. But what I would like to highlight here is that xm.com claimed to have sent the amount of $30 back to my credit card. I have made a follow-ups by chat with the trader's team after some time and they keep saying in the beginning that it will take 5 business days. I check my online statement regularly and up until now, nothing is credited back.

Xm.com team, please investigate this matter. I am actually quite happy initially with their support whenever I have questions but this matter is a little bit disappointing.
 
Rebuttal: Added by Chris A. Zacharia on 2013-11-04 04:06
  Dear Kristine,

We cannot be held responsible for the fact that your credit card issuer does not accept returns in excess of the initial payment (deposit in this particular case).

You can withdraw any/all profit using any other withdrawal method that we are offering with XM covering all commissions of the payment processors.

You have already been asked by our Backoffice department to choose an alternative method to withdraw your funds. They suggested Moneybookers or Neteller but if these options do not suit you, you can always contact your account manager and he will be able help you with the withdrawal.

Please send me an email to [email protected] and I will do my best to resolve this situation.

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

Mohammad Jahirul Islam, Dhaka, Bangladesh

Rating:
Date of Post:2013-10-24
Review: My account no 21346736.
I got bonus.I opened lots of trade on that account.My balance was 1000$ with then 500$ bonus.When i m in profit suddenly XM broker remove bonus from account and email me that i m an abuser.This is just nonsense.Nothing else.I email them they said i abuse bonus.I said i had remain lots of opened trade and you remove my bonus suddenly by saying i m an abuser? proof me how i abuse? they didnt reply me.I used 276$ margin.If this is the reason that i abuse the bonus then i will warning everyone this broker is pure market maker.Their bonus is bogus.Dont deopsit their for the bonus.because anytime this bonus will remove from your account.
Dont trust his broker.
Stay away from their bonus.
They are nothing but a pure market maker.
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