XM Review

3.034 · 639 REVIEWS

Trading Point of Financial Instruments

Updated: Mar 4, 2021 · XM.com  · Is this your company?

XM Group is a group of online brokers. XM Group offers the MT4, MT5 and WebTrader currency trading platforms. XM.com offers over 55 currency pairs and CFDs on stocks, metals, commodities, equity indices, and energies for your personal investment and trading options.


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.

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 #000261/158, CySEC #120/10, DFSA #F003484
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
Currencies: (55+)
CFD: (940+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Neteller, Skrill
Withdrawal Methods: Bank Wire, VISA, MasterCard, Neteller, Skrill

Live discussion

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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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3.034 · 639 REVIEWS
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Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

Bukavu, Congo, The Democratic Republic of The,
Mar 1, 2021,
Registered user

Inability to use the proposed leverage effect

Service use: Live

Length of use: over 1 Year

I have been using Xm since 2017, and everything was fine, I was really losing more 'money than I was making and until August 12, 2020 when I spotted a really good opportunity that I jumped on on NZDUSD and make a really good profit of over $ 3000 which allowed me to cover all the losses I had experienced before. And this is what raged at the broker, so they changed my leverage by forbidding to use leverage above 1: 100 while he offered 1: 888, then all my bonuses were taken from me , then he offered a possibility to withdraw the profit by bank, when I tried they told me that they cannot authorize my withdrawal by bank. So many complications followed and I asked myself why all this today? Why wait until the day that I become profitable to change their policy when I have already been using the same strategy for 3 years? I believe that with xm everything is fine if the client loses money but as soon as you become profitable expect unpleasant surprises. I don't recommend this broker if you want to become a professional trader.
Kampala, Uganda,
Feb 27, 2021,
Registered user

Possibly the best retail forex broker globally! Absolutely superb service!

Service use: Live

Length of use: 0-3 Months

Trading experience - Platform response - 5/5
I joined and got validated on XM in early February 2020. I began trading with a fairly decent account that has since grown close to 190% largely due to the ability to utilize my strategy on their ultra low standard accounts where the spreads are low - based on the industry average - above average spreads favourable for most assets.

Customer care - 5/5
The customer care service is just a button away in the members area! Available in under a minute from clicking the button. They are quick to guide and assist on whatever you ask them.

Access to funds - Settlement/Withdraw - 5/5 - Industry best
Withdraws or settlements typically take under 2 hours via the MOBILE MONEY(AIRTEL OPTION) which is quite fair. I also notice that the currency conversion rate is taken at market.

Education - 5/5 - Industry best
The research and metrics shared via their research and education is surely quite the best. The only broker that can compare to them is IG but still XM beats them at indepth analysis. Believe me when I say so as I am in research and analysis in my dayjob.

Final Comment:
I respect other people's reviews but those trying to tarnish XM. Please step up to the challenge or opt for another broker but don't bring it down especially when their services are surely unprecedented! I overall give them a 5/5 - 100%
  1 trader has found this review helpful
Brits, South Africa,
Feb 19, 2021,
Registered user

Xm is a lie

Service use: Live

Length of use: over 1 Year

I made a review ealier saying xm is a scam and i stand by that, after xm telling me to send my bank statements i did... they said to me i selected nedbank instead of standard bank... i cooled down last month i started calling the banks and they said they would have reversed it the very first week... and xm is telling me to wait for it to return and its gonna be 4 mounths next month its time i accepted that im not getting it back and be done with xm

Dec 2, 2020 - 1 Star I always lost my equity because but i dint mind i was learn finally i was starting to profit now that i withdrew my deposit they said i can't withdraw with my card anymore i must choose another method i chosen bank wire and they sent me and email saying it was successful now and haven't recieved anything yet since last week Wednesday when i send them an email they dont respond back at me

Reply by Chris Zacharia submitted Dec 10, 2020 Dear Server1,

Please note that I have investigated the issue raised in your review and I can confirm that your withdrawal request under question was correctly and successfully executed by our Back Office department as per our internal withdrawal procedures.

Notwithstanding the above, you have contacted our Company claiming that you did not receive the relevant funds as such, our personnel correctly informed you that in order for us to be in position to escalate the case we need some supporting documents. More specifically, you were requested to provide us with a Bank Statement starting from the date of the withdrawal (i.e., 25/11/2020) as proof of non receipt of the funds so as to investigate further with the Bank.

Due to the fact that we were not provided with the requested document, the relevant department of our Company was not in position to escalate the case and as such, I would like to inform you that once we are provided with the requested proof, all the necessary actions will be taken.

Thank you,
Bangkok, Thailand,
Feb 17, 2021,

SCAM broker

Service use: Live

Length of use: over 1 Year

I withdraw about 48 hour after approved from XM,
Now I don’t get my money.
I contact support at multiple time, but no good answer.

Now, my money disappeared

Disappointed broker and very bad broker in the present.

Feb 16, 2021 - 1 Star I request for withdrawal my fund, this is delay more than 24 hour, I don’t get to my money.
Before I believe in this broker.
Now, this broker is scam broker for me
Colombo, Sri Lanka,
Feb 15, 2021,
Registered user

Terminating profit making accounts

Service use: Live

Length of use: over 1 Year

I was with XM few years. They were very good as far as I was making losses in my trading account.
As soon as I started to make consistent profits, they suspended my account and feezed all funds.

The explanations given were not consistent.
Once they said, my trading was overloading the servers.
When asked for further details, they said it was a technical error.
When the suspension happened again, they said, my trading style was violating their agreements.

Perhaps, their expectation is the trader to loose money always.

- Chan
Jakarta, Indonesia,
Feb 8, 2021,
Registered user

Complete scammer,

Service use: Live

Length of use: 0-3 Months

My account suddenly got terminated. They said on the email that

"In that regard, our Anti-fraud Department has brought to our attention that your Account is connected to an account that had been previously terminated because of the violations of the Client Agreement."

This is my first account and how can it be connected with another account. Called account manager, he said that he cant do anything and the decision is made by the main office. He can't give me any reasons and immediately hangs up. I've lost all of my investment.
Reply by Chris Zacharia submitted Feb 17, 2021:
Dear Consorbar,

I have reviewed the issue raised and I can confirm that our business relationship was correctly terminated due to the violation of our Terms and Conditions of business.

Particularly, I have been informed that we have evidence confirming that you were connected, through the same trading information, including but not limited to IP address, with former clients of our Company with whom our business relationship was terminated due to the violation of the Terms and Conditions of our Deposit Trading Bonus program.

As I am sure you can appreciate, XM accounts are intended for your personal use only and our Company does not allow the management of trading accounts belonging to its clients by any third party, as the latter is considered to be violation of our Terms and Conditions of Business.

In view of the above violation, it was correctly decided to terminate our business relationship with immediate effect and you were accurately informed of the latter by the relevant Department of our Company, via email, on 08/02/2021. In addition to the latter, I can confirm that as per our Terms and Conditions of business, please note that any profit/loss generated from trading was considered as void and was correctly forfeited. I can further confirm that any amount deposited in your trading account was sent back to the initial source of deposit.

In conclusion, I would like to stress the fact that any actions taken by the Company in relation to this matter were fully in line with our Client - Company agreement which governs our business relationship.

Thank you,
Pretoria, South Africa,
Feb 4, 2021,
Registered user

Forex Broker - Settle My Case XM.com

Service use: Live

Length of use: 6-12 Months

Dear Chris Zacharia, your responses serve to prove the point that XM.com just hides behinds its many licenses it holds with different bodies. However XM.com is the website that XM.com uses to entice people. Lets call a spade a spade. You like to respond in your smart language. The bottom line is the letters are addressed to XM.com. Safecharge is the mechanism you use to move funds out & in. Let us not kid around & settle my case. 

Jan 29, 2021 - 1 Star XM.com is the worst broker in the worLd.. They have the worst service.. Provide a High Leverage & out to steal your money.. I have an ongoing dispute with them which remains unresolved.. They refuse to give me a case number to refer my case to the Cyprus Securities and Exchange Commission (CySEC) (licence number 120/10), International Financial Services Commission (IFSC) (license number 000261/106), Financial Conduct Authority (FRN: 705428), Australian Securities and Investment Commission (AFSL 443670). I still await a resolution to my dispute.. They are the worst broker ever.. Do not support or deposit funds with these thieves.. They offer an addictive & destructive product.. Stay Away from them!!! I want my $35,000!!

Apr 23, 2020 - 1 Star Good Day,

Hope this email finds you well.

The Cyprus Securities & Exchange commission has asked me to provide it with a CIF reference number to lodge a case.

To date i have not received a CIF Ref Number in correspondence?

Please provide me with a CIF Ref Number?

At no point did xm.com refer me the the Cyprus Securities & Exchange commission.

Attached is my complaints to be lodged to the Cyprus Securities & Exchange commission.
Kind Regards

#NoResponseReceivedFromXM  Do not use xm.com as you will loose you money like me!  XM.com #The Kings Of Ducking And Diving

I am in $35,000 of Credit Card Debt Because of xm.com

Be warned, they are the worst from my experience!

Reply by Chris Zacharia submitted Apr 30, 2020 Dear Moey007,

First, I would like to inform you that the trading account provided is under XM Global Limited and therefore, your business relationship is with XM Global Limited. In view of the latter, please bear in mind that XM Global Limited is authorised and regulated by the International Financial Services Commission ("IFSC") and as such, the Cyprus Securities and Exchange Commission ("CySEC") is not the competent authority to review your complaint.

Notwithstanding the above, please note that I have investigate the issue and I can confirm that an official response has been sent to you by the relevant Department of our Company in relation to the subject matter, via email, on 21/05/2019, on 25/02/2020 and on 28/04/2020.

In this respect, I would like to stress the fact that the issue you are raising in your emails concerns only you and the relevant third party and our Company cannot be considered a party or that it is involved in any way in the dealings/relationships its clients may potentially have with any third party.

In view of the fact that our Company is not, in any way, involved in the subject matter, I can conclude that there is no basis to raise a complaint against our Company and I can reject your claims that you have not been properly assisted by our personnel in regard to this case.

Thank you,
Ukraine, Ukraine,
Jan 30, 2021,

Don't trust them!

Service use: Live

Length of use: 0-3 Months

I am a disable from Ukraine. I decided to try forex. Disables in Ukraine have a too small pension. I've send $20 to xm account. I losed my money. After that, I decided to delete my account. But there is a problem. There is $0.91 on my account. I can not to trade using these money, because it's a small amount and I can not to withdraw them. Support sad that I have to send money to xm account again. I told them, that I have not money anymore. So, I write them for a week. Nobody can help. They just say: Ok! Today we will decide your problem. But it is all FALSE!!!
What do I have to do? - I don't know.

Also, according to the Privacy Policy of xm.com, I want they to delete all my documents and all informotion about me.

Give me some advice, please, where do I have to write to solve this problem, if you know.

Have a nice day!
Leo Rellona,
Tacloban City, Philippines,
Jan 18, 2021,

Super Legit Platform

Service use: Live

Length of use: 0-3 Months

I like this platform! Super legit! The customer care is accessible! I recommend this platform for you!
Ahmed Bawazir,
Hadhramout, Yemen,
Jan 2, 2021,

Trusted Company 100% !

Service use: Live

Length of use: 0-3 Months

I have started trading with real money on December 7,2020 and at the end of the month Thursday 31 my account was up approximately 53 % .

Everything is working more than expected. And if there is more than five starts for evaluation I will give them all the starts in the sky. What a wonderful company !!!

They are very honest and sincere and think of clients more than themselves. Any question I ask I get a prompt reply from professional works that really appreciate to help you make money as they earn money too. It is a Win Win game.

In short, there is no company as good as xm.com it is really the business itself.

Frequently Asked Questions

Is XM a good broker?

The best way to answer if XM is a good broker is to read the unbiased traders reviews on Forex Peace Army. https://www.forexpeacearmy.com/forex-reviews/7214/xm-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we recommend to check recent XM broker community discussions: https://www.forexpeacearmy.com/community/tags/xmcom/

What is the minimum deposit for XM Broker?

XM brokers offers several account types. Micro and Standard accounts have a minimum deposit of $5. Other account types vary in their minimum deposit requirements by region.

How do I deposit money in to my XM broker?

XM's broker deposit procedure is fairly straightforward. Once the account is registered and approved, follow these simple steps:

  • Login to XM broker members area.
  • Select the deposit method (Credit and Debit cards, Neteller, Bank Wire Transfer or other).
  • Select the XM account and specify the deposit amount.
  • Enter the appropriate payment details. 
Funds availability depend on the funding method, with card deposit being "instant". If you have any questions or problems contact XM broker live chat.

How long does it take to withdraw from XM?

XM broker says they process nearly all withdrawal requests within 24 business hours.

Then it may take another 2-5 business days for the bank to process wire or for card transaction to be reflected in your account.

For faster XM withdrawal you may opt for the XM Card or e-wallet, these payments are received the same business day.

Can I withdraw XM bonus?

Profits made by trading XM bonuses are withdrawable. However, you can not withdraw XM bonus itself.

Check the terms and conditions of any bonus program before accepting a bonus.

How much can I withdraw from XM?

XM's minimum withdrawal amount is $5 for credit/debit cards and e-wallets and is $200 for the bank wire.

The maximum withdrawal amount from XM is determined by the payment method with Bank Wire limits being the highest.

Please be aware of the XM withdrawal priorities, if you deposited money with the credit card or e-wallet, then withdrawal is processed via the same method up to amount deposited before you are able to select other withdrawal methods.

Does XM allow scalping?

XM allows scalping as well as trading during time of increased volatility.

It is always a good idea to check fresh reviews on Forex Peace Army to see if traders recently encountered any serious problems with scalping using XM trading platforms.

What is XM zero account?

XM Zero accounts feature near-zero spreads (EURUSD average spread is as low as 0.1 pips) and a no requotes execution policy with all trading styles welcome.

The trade off is a broker commission of $7 per lot round turn charged when opening the trade.

Some regions may have different account options.

Is XM a regulated broker?

XM broker is regulated by several government regulators:

  • Australian Securities and Investments Commission (ASIC), registration #443670;
  • Belize International Financial Services Commission (IFSC), registration #IFSC/60/354/TS/18;
  • Cyprus Securities and Exchange Commission (CySEC), registration #120/10.

Does XM charge commission?

XM broker offers several account types:

  • Micro Account and Standard account are commission free
  • XM Zero account features ultra-thin spreads but charges commission of $7 per round lot traded payable at the order opening time
  • Some regions may have other account types

What is XM leverage?

XM offers flexible leverage from 1:1 to as high as 888:1 that can be instantly changed in your account members area.

Higher leverage allows to trade the borrowed capital which increases both the profit potential and the risk of loss.

Some trading strategies like automated scalping may require high leverage while many professional traders do not use much leverage.

Please trade responsibly selecting the leverage based on your risk appetite and loss tolerance level. Some regions may only offer lower leverage.