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

Overall Rating: (3.431)
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Total Reviews: 396
Last Updated: 2014-11-26
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

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..

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.

Ernest Tarr, Port Alfred, South Africa

Rating:
Date of Post:2013-10-24
Review: Adam my Account Manager and the XM team have given me a gift of a total of $150 now , for been honest about their brillant service, and now they have unique contests just to top it all. Well done XM keep up the excellent service and show other brokers where they failing with awesome service and webinars ETC.
I personally Highly Recommend anybody to Join XM and see for themselves. The others that are commenting negatively about XM, did not read the terms and conditions, any company has too have terms and conditions or else dishonest people will look for loopholes in service. Thanks

2013-10-08 5Star Adam Kyriacou is my Account Manager,
and XM Has the best Chat Service of all brokers I've been too,
and the best customer service, they treat you with respect and kindness, and put their back into their customer support.
Well Done XM, and keep up the excellent service, you lead others follow. Thanks Ernest Tarr
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, Porto Alegre, Brazil

Rating:
Date of Post:2013-10-22
Review: You want to know what happened to me today?
Well, the price of the pair that I follow (and only this one) froze!
That's right, the price did not move for several minutes!
After that, look what happened (again):
http://xm-humbug.tumblr.com/image/64771665820

Below, I've shown several examples of this aberration.
Then a cynical woman, who goes by the name of Carol, said that this problem was not the fault of X(sca)M. Because the charts supposedly show periods that precede the formation of this "broker".

C'mon Miss Carol, are you kidding us? Did believes that readers of FPA are morons? Anyone can look at those graphs and see that most are recent (last few months).

If the representatives of X(sca)M lie about something that is in plain sight, imagine what else they are capable of doing to harm you.

I feel deeply wronged.

At first, they seemed very good and efficient. But if they do not like you, here's what happens:
http://xm-humbug.tumblr.com/

I wonder how many other traders have this same problem but do not know the FPA to show this...

Anyway, I leave to you the warning: DO NOT TRUST THIS BROKER!!!

And if you can, please show it to as many people as you can (as I am doing). We need to expose this type of scam.

P.S.: Miss Carol, can you tell me who was responsible for live signal transmission in recent months, including today?

2013-08-26 2StarThis broker provides a terrible signal.
If you pay attention to the charts, you will notice numerous serious flaws.
Sometimes the time between two candles is deleted and true craters appear in intraday chart.
You know what absurdities as these can cause in the technical indicators?
So be very careful when trading with this broker.

Look at some examples:
http://xm-humbug.tumblr.com

Rebuttal: Added by Chris A. Zacharia on 2013-09-12
Dear Frustrated Customer,

You have made the effort to make a website out of charts which you have taken from XM MT4 which go back to 2006.

Please note that XM and its holding company Trading Point of Financial Instruments Ltd. were incorporated in 2009.

Although the MT4 charting package allows you to go back in time the prices shown on your charts are not prices that were ever live for clients to trade since XM and its holding company Trading Point of Financial Instruments Ltd was incorporated after those dates.

We would recommend you be more careful with recommendations to other traders without the proper knowledge to provide those.

Thank you

Carol P. – Official Representative of XM (Trading Point of Financial Instruments Ltd).
 
Rebuttal: Added by Chris A. Zacharia on 2013-11-04 03:35
  Dear Sir,

As I can see, you are fairly new to forex trading and financial markets in general, and you are not aware of the concept of "market gaps".

Market gaps occur in any financial market (forex, stock, futures) when the price of a financial instrument move sharply in one direction or another as a result of technical and/or fundamental factors. Gaps often occur immediately after the important news announcements. Gaps can also occur when there is breaks in trading sessions, since currencies are actively traded 24/5 gaps may occur after weekends and such gaps are often referred to as "weekend gaps". Moreover, in forex it's not uncommon see smaller gaps throughout the trading sessions when there are no significant news announcements and this can be explained by imbalances in supply and demand for a specific financial instruments that results in lack of trading between certain prices levels (lack of liquidity).

Unfortunately, I must say that basing your comments on false facts and making false acquisitions because of your own lack of knowledge about the subject do not help the FPA community. I hope that my words will motivate you to study some new aspects of the foreign exchange market that will definitely help you to improve your trading skills and knowledge about the market you are trading.

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

Bacha Rehman, , Pakistan

Rating:
Date of Post:2013-10-22
Review: I choose XE Markets around one year back by reviewing their reviews on this forum. Start live trading with them and just observed few things:
1. Bounces and high leverage is set only to mislead newbies as I was at that time.
2. I almost gained 50% on my very first day .. but on 2nd day ... ah boom ... lost last day profit, balance and bounces ..lol
3. I observed carefully whenever you set a stoploss it will be chased in minutes .. by the way it never happens to my ECN account with someone else now
4. Anyhow I had some good opinion about them .. and today I wanted to fund my real account again .. but was just checking out their demo first.
5. today before NFP released I placed two pending orders ... one buy stop at 1.36950 ... and a sell stop on 1.36570.
6. You know what when the NFP released ... omg .. my buy stop triggered at 1.37208 .. :O .... 25.8 pips slippage ... it is horrible .. for the proof the image link is here which also shows my demo account number http://postimg.org/image/gvjovjcyf/
7. Never dude .. I will never recommend this broker ... and will never fund my real account ... the best way is to pay some commission to ECN regulated brokers ... All STPs are real scams .. that is based on my 2 years analysis

mathew, kuala lumpur, Malaysia

Rating:
Date of Post:2013-10-19
Review: The gold price is about $3 different from the real market in a point of time.The currencies pair has about 10pips different from the real market. The more scary thing is that they amended the price in their server a few hour later.I sent an email to them but they never reply. I Strongly not recommand anyone using this platform if you don't want to lose money without knowing what is happening.
 
Rebuttal: Added by Chris A. Zacharia on 2013-10-23 03:40
  Dear Mathew,

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).

Timmi, Montreal, Canada

Rating: No Rating
Date of Post:2013-10-15
Review: I have NOT tried this broker. I do have a question about a response from xemarkets/xm.com to one of the traders here. they write, and I quote:

"According to our Anti-fraud Department, the trading patterns in your Account raise 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 applicable to our credit bonuses, the following activities are qualified as fraudulent:
• Any form of arbitrage trading
• 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"

My question is this: HOW is it possible to commit _fraud_, using MT4, in your account, when it is the broker who controls how much money is in there? It's not like you can "pretend" what is in there - the system will only let you use what they make aailable to you. The tone of their letter makes serious accusations.

And what is this arbitrage trading?
Bonus manipulation? what's that?
How does one do that when they are pretty much in control of everything and only allow you to launch your trades?
I'm new to this, and I can't help but wonder if these legitimate accusations, or are they just inventing conditions under which they can pull out the rug from under you?
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