XM.com Review Visit site

Updated: Dec 9, 2019
Trading Point of Financial Instruments
3.105 · 536 REVIEWS
Is this your company?

Former websites of this broker include Trading-Point.com.

Other websites related to this company include XMTrading.com, PipAffiliates.com, XMArabia.net, XM.co.uk, XMSina.com.

XM.com is part of Trading Point of Financial Instruments UK Limited group. Members of this group include Trading.com.

About XM.com

XM Group is a group of online brokers. XM Group offers the MT4, MT5 and WebTrader currency trading platforms. XM.com offers over 50 currency pairs and CFDs on cryptocurrencies, stocks, metals, commodities, equity indices, and energies for your personal investment and trading options.

Broker Details

Minimum Trade Size:0.01
Maximum Leverage:888:1
Minimum to Open Live:$5
Established:2009
Address:12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus
Contact:support@xm.com, +357 25029933
Regional offices:
Regulators: ASIC #443670, IFSC #IFSC/60/354/TS/18, CySEC #120/10
Prohibited countries:
Trading platforms:MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
ECN: No
Currencies:(55+)
Cryptocurrencies:(5+) Bitcoin, Litecoin, Ethereum
CFD:(940+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
MAM: No
PAMM: No
Deposit Methods:Bank Wire, VISA, MasterCard, Neteller, Skrill
Withdrawal Methods:Bank Wire, VISA, MasterCard, Neteller, Skrill

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XM.com profile provided by Chris Zacharia, Mar 28, 2017

XM is a forex broker. XM offers the MetaTrader 5, MetaTrader 4 and Mobile global forex trading top platforms. XM.com offers over 55+ forex pairs, stocks,cfds, equities, indices, metals, and energies for your personal investment and trading options.

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3.105 · 536 REVIEWS
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Consumer Reviews

Siyabonga,
Port Elizabeth, South Africa,
Dec 6, 2019,
Guest

No deposit bonus is a scam

Service use: Live

Length of use: 0-3 Months

I made profit with the no deposit bonus, I tried withdrawing my profit they accepted my withdrawal but after a few hours they told me, my profit was forfeited because I'm using the same IP address with another client but they don't show you who is it.

I recommend you stay away from this no deposit bonus
Maseru, Lesotho,
Dec 6, 2019,
Registered user

Withdrawal

Service use: Live

Length of use: 0-3 Months

I believe XM is not the best broker as we all believed, I withdrew 6 days (working days) ago but still I didn't get that money, I have talking with them like everyday after those 6days ,but they keep saying that it'll click ,what disappoint me is that,I withdrew with someone the same day ,he got his money within 24hrs ,as for me ,I didn't get ,so people run away from these broker ,they gonna give you a heart attack ,like they are doi doing to me right now,choose better brokers
Gauteng, South Africa,
Dec 5, 2019,
Registered user

Withdrawal issues

Service use: Live

Length of use: over 1 Year

My first four withdrawals went off without a hinge.
My fifth withdraw is the one I have been waiting for for almost three months. My account numbers are 42123472 and 275891

First I was told that my account manager, Asmael somehow stole from his clients when xm did a system upgrade from the 7day withdrawal to a 2 day withdrawal.

Then I got a new account manager named Naheem. After he gave me the run a round that they fixed the system I still didn't get my money.

Then I got referred to Peter(supposedly one of the account managers manager) long story short he also gave me the run around.

Then I got Monica(the one account manager who never seems to be in the office) she too claimed that they moved back to the original system and claimed to have put my withdrawal through multiple times but failed as I'm still waiting for my money.

After trying to get hold of Monica yet again,reception put me through to Abselon on the 29/11/2019. He has offered to help me. I really hope he can do what none of the other account managers were unsuccessful at doing. He said the money will be in no later than the 06th of December.

I really hope to update my review with good news soon.

I would just like to say that thus far Abselon has been good at contacting me with the other account managers I ended up trying to contact them 4 times a day 5days a week.
Isabelle,
LDN, Philippines,
Dec 1, 2019,
Guest

Withdrawal Issue

Service use: Live

Length of use: 3-6 Months

I am having an issue with their withdrawal. I had withdrawn before with no other issue but this time it's a nightmare! They keep saying every time I withdraw my account of only $528 (imagine this amount and they cannot even release it) they send an email as below almost 5 times already.

Dear Valued Client,
*This is an automatically generated response, please do not reply to this email.
Please be advised that in order to process your withdrawal request we need you to provide us a screen print of your Bank account which confirms that this account is in fact registered under your name.
As a result your withdrawal request cannot be processed and funds have been credited back into your trading account.
You are therefore kindly requested to send a screen print of your Bank account to backoffice@xmglobal.com. Please note that your full name and Bank account number have to be visible on the said screen print.
Once provided, please submit in new your withdrawal request which will be processed accordingly.
Please accept our apologies for any inconvenience caused.
Thank you in advance for your kind understanding on this matter.

With Best Regards,

XM Team
Back Office
1 trader has found this review helpful
Denpasar, Indonesia,
Nov 29, 2019,
Registered user

I have to say Average broker

Service use: Live

Length of use: 0-3 Months

The platform design for web and desktop are just average and can be said as poor design. There are fee charges on low withdrawal as well. I saw there are many reviews saying this broker is a scam? But not sure since I have just traded with them for a few months. Let's see then
1 trader has found this review helpful
Faisal,
Sabah, Malaysia,
Nov 23, 2019,
Guest

High spreads.

Service use: Live

Length of use: 3-6 Months

Im sorry to say that XM is one of the most high spreads compare to other broker.
Otherwise, beside spreads, everything else is very good.
Your customer services is the best.
2 traders have found this review helpful
gaza, Palestinian Territory, Occupied,
Nov 22, 2019,
Registered user

good broker

Service use: Live

I asked for the withdrawal and there were some problems but I was contacted by my account manager and the problem was solved quickly and I advise dealing with this company because it is honest

Nov 16, 2019 - 1 Star I asked to withdraw the money through my e-wallet and the request was accepted, but the money did not arrive. When I spoke to technical support, they asked me for proof of the electronic wallet archive proving that the money did not arrive I did it and sent them the required pictures but they refused the pictures and the reason as they said the pictures are not high quality . I sent them pictures again in a high quality format and in the end they told me that the request had been executed by them and ignored any other message from me and of course I have conclusive evidence that the money does not reach my wallet and this is not the first time but this time the amount was large
Dim,
Sweden, Sweden,
Nov 18, 2019,
Guest

Spaming

Service use: Live

Length of use: 0-3 Months

After creating account, recieved calls from random country's and numbers of some manager, after answering once and kindly asking to stop calling, still geting them everyday. Taking my money back, and never will have anything with them.
1 trader has found this review helpful
Reply by Chris Zacharia submitted Nov 22, 2019:
Dear Dim,

Can you please provide me your account number so I can investigate your case.

Thanks,
South Africa, South Africa,
Nov 15, 2019,
Registered user

Beware of XM: Missing Deposit, manually closed positions

Service use: Live

Length of use: 0-3 Months

I have been a client of XM for more than 3 years and never have I thought I would believe what I have seen on other platforms about their malpractices or irregularities until recently.
On 15 August I tried to make a deposit into my XM account on Member’s Area as per usual, but experienced some technical problems and the card I was using may I add I was using it for the first time to make a deposit. Upon seeing other deposit methods I decided to make an Electronic Fund Transfer from my Capitec account, into XM FNB bank account listed on their own website.
I made and immediate payment and indeed funds were reflecting in my account within minutes.
On 11 September I made yet another deposit, EFT from my Capitec account, and again made an immediate payment. However the funds would not reflect on the same day. So I waited for the following day and still the funds were not in my account. I then decided to contact Help Desk and spoked with Kim who requested that I send her my bank statement reflecting the transaction as well as proof of payment, I did there and there and she promised that she will refer the matter to their Back Office to investigate.
In the mean time I went to my bank and I was advised that the funds were transferred to the beneficiary (XM) as this was an immediate payment.
I called Stephanie Chakas, Account Manager, who was very rude and defensive about the transaction, telling me that I was not supposed to make an EFT. I told her this was not my first time doing that and XM had not informed me as a customer that they are no longer accepting EFT payments. I found her to be very rude and abrupt and I felt like she was missing the point it was not my first time depositing via EFT and no one had called afterwards to advise against, more so if this was not a preferred method by XM they have their banking details listed in the first place. She told me XM had investigated and the funds were not in their account.
After having her way, she advised that I go to the bank and I told her that the bank has confirmed the transaction to have gone through and it cannot be reversed.
She advised that I should ask the bank to recall the funds. I unwillingly went to the bank again, well what more could they do I have given XM proof of payment and my banking statement and the account deposited into is their own account.
The consultant contacted their Interbank to investigate further.
To my surprise the following day I get an email from Kim from Help Desk to send proof of payment and bank statement, which I did again. This to me was proof that no investigation had taken place with regards to the matter like Stephanie had been insisting. At this point it was clear to me that XM is robbing or scamming me with this deposit and I have heard of such accusations by them before.
I’ve been sent back and forth by XM on this matter. The last gentleman who was supposed to resolve the matter I told him that my bank have gone beyond their call of duty to try and assist me in this matter, by going to as far as contacting their Interbank who in turn got in touch with FNB Interbank which is XM’s bank and they confirmed that the funds are sitting in XM bank account, which is the least I can say about XM.
I had requested this gentleman (which I cannot recall his name but when I asked Stephanie what his name was she gave me his email address aaslam@xm.com) to send me the details of their banker who was assisting with this investigation and who gave them feedback that the funds I deposited into their account are not there so that I can take that information to my local FNB which is XM bank for further assistance or Banking Ombudsman if needs be. That gentleman has never contacted me with the information required since.
My other reasons for not trusting XM’s credibility is matters I have recently raised with Stephanie Chakas where I have been noticing some irregularities on my account, wherein during quick market moves that my XM platform would freeze when my trades run into profit and unfreeze when the position is on red.
I also had positions closed manually by XM. To prove that I was indeed the case I decided to open a demo account with XM and open same positions both sides. In one trade my EURUSD trade was closed on Real account while it was still running on the demo.
In other instances I had my GBPUSD as well as GOLD positions closed before TP. One GOLD position did not even show green to indicate that TP was reached. Upon raising this issue with Stephanie she told me that markets can pay the best available price, and that I do not dispute but she then added that when your position is a sell position you do not see the green. Nonsense and undermining of one’s intelligence!
I am still waiting for her feedback on the EURUSD trade because she promised to refer the matter to her Back Office.
My desired outcome from this is that XM would return my funds back into my account because I have proven to them that the deposit was made into their account which they do not dispute details thereof, Capitec interbank and FNB Interbank confirmed that funds are sitting in their account. They have done no investigation on the matter as they claim, proven by Kim’s requests of documents after being told by Stephanie that the investigation was completed and funds could not be allocated, and the fact that the gentleman who promised to provide a document from banker that states that they have not received the funds has never given me any feedback.
I am also hoping that somewhere within XM there will be someone who will look into this matter with fresh eyes and utmost fairness because at some point I thought there could be some language barriers with Stephanie Chakas. For her to tell me to go the bank despite the feedback I have been giving her was another blow. I am hoping going forward I will deal with somebody else as an Account Manager, the experience of being told that your hard-earned money cannot be traced without really investigating the matter I found it to be untrustworthy and would prefer not to deal with her in future.
In my last email, I did ask Stephanie for a Regulatory Body that regulates XM to mediate on the matter, instead she gave me XM’s complaints desk. I was under the impression that the gentleman who had called me and promised further information on the matter was from that Department, hence a request for the name of the Regulatory Body, because clearly no one is willing to prove what investigation had taken place from XM’s side because the bank has shown me proof.
I find it very disheartening that as traders have to be scammed by the so called “trusted brokers” because I do not believe in my heart of hearts that this matter has been taken seriously or been investigated at all by XM, to them I am just something that they can take away from because they know I have will have no recourse, with them as a non-regulated broker in South Africa.
1 trader has found this review helpful
Reply by Chris Zacharia submitted Nov 22, 2019:
Dear Mimi2020,

In order for me to be able to reply to your review in a transparent fashion I will need your account number.

Thanks,
Philippine, Philippines,
Nov 15, 2019,
Registered user

Scam no deposit credit 30$

Service use: Live

Length of use: 0-3 Months

Over 30 days I trade with their no deposit 30$ credit
I make 100 $ profit
I withdraw then mask felt down
The claim I break the role and cancelled all my profit
1 trader has found this review helpful
Reply by Chris Zacharia submitted Nov 22, 2019:
Dear Alzahif,

Your account is related to another 37 clients. In simple words you have tried to claim the No Deposit Bonus Promotion given to you in good faith 37 times with different emails therefore your account was nullified and adjusted.

I would strongly advice to refrain from using “SCAM” in the titles of your review and I would also advice that you refrain from attempting to open additional accounts in order to abuse the promotion as you will be blocked again and once again nullified.

Thanks,