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

Overall Rating: (3.403)
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Total Reviews: 405
Last Updated: 2015-02-26
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

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.

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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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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