XM.com Review Visit site

Updated: Nov 21, 2019
Trading Point of Financial Instruments
3.107 · 530 REVIEWS
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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.

XM.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 #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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3.107 · 530 REVIEWS
Forex Peace Army
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Consumer Reviews

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
Gaza, Palestinian Territory, Occupied,
Nov 16, 2019,
Registered user

They manipulate Japanese candles + scammers

Service use: Live

Length of use: over 1 Year

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
1 trader has found this review helpful
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
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
colombo, Sri Lanka,
Nov 14, 2019,
Registered user

withdrawal issue

Service use: Live

Length of use: over 1 Year

I've sent a withdrawal request to my account recently. To the same skrill account with same (My) name. For my amusement they rejected the request saying that skrill account name doesn't match my name. Then I sent a screen shot of my skrill account. Now they sent me a reply saying that date of birth mismatch. I dont know what's wrong with these guys. Luckily I didn't fund my account fully. It's just a peanuts. will see.I would stay away from these guys.

Nov 14, 2019 - 2 Stars I made a withdrawal request to my account (Acc no:16150040) to the same Skrill account I used to deposit (under my name) .That skrill account's name is same as my name. same email address. However, I received a reply saying that the money brokers account name is different than mine. I don't no what the hell they are talking about.However , I contacted thier Chat guys and they asked me to provide a screen shot . Now I sent it to the support guys and waiting to reply. really frustrating. Luckily I didn't fund my account to a full amount. I would stay away from this broker
1 trader has found this review helpful
Maputo, Mozambique,
Nov 7, 2019,
Registered user

No deposit bonus profit

Service use: Live

Length of use: 3-6 Months

started with the £ 20 no deposit bonus and I gained £ 40 wich i wnted to withdraw but are null
1 trader has found this review helpful
amman, Jordan,
Nov 6, 2019,
Registered user

Service use: Demo

Length of use: 0-3 Months

they just keep making all they can to make my acount goes 0000
they stop out my acount while i was full hedge

Nov 4, 2019 - No Rating xm closed my hedge position at full hedge at rollover time !!and off my 17k usd
i tried to contact them but no help no answer and when i told them i am gonna sue them they just didnt care,and after i look into reuglated rules, its forbbiden to liquid or stopout full hedge no matter what even in negative postions profit
i hope to get my money back ,thank you all in advance, XM fooled me lot of time
48015971 peroid between 1 septemeber to 5 september , and one last thing, becouse i respect this company i will consider my issue solved When i get all loses ,thats about 4k usd and thanks
3 traders have found this review helpful
Mumbai, India,
Nov 5, 2019,
Registered user

Omg literally scam

Service use: Live

Length of use: 0-3 Months

I opened only sell order of gold and almost automatically at the same time buy order was opened by them.Very disappointed. I lost opportunity as my sell order was perfect and i was in profit but because of them I went in loss.This proves that they can manipulate orders easily.. I am very much disappointed as this was my beginning with them only 2-3 orders were placed and they cheated with me.
Chat person is absolutely no help..
2 traders have found this review helpful
Reply by Chris Zacharia submitted Nov 8, 2019:
Dear Kumar111,

Title of your review – >OMG Literrally Scam is neither honest nor fair.

Now although you have raised your issue with your account manager and he has replied to you for reasons of transparency I am replying once again.

You made a complaint to your account manager that you only had opened a sell order and that you did not recognize the buy order you see.

Your account manager asked you to send your log file and you sent it.

Your log file clearly shows a buy order (16:59:15 server time) and then a sell order at 14:59:51 (16:59:51 server time).

There is no doubt that you opened 2 orders, either you opened them by mistake or not by mistake the orders were placed by yourself.

Now to summarize:

1. XM cannot place orders on your behalf.
2. XM cannot “manipulate” your orders as you claim and moreover has no benefit in doing so.
3. Most important since this issue was addressed to your account manager and your log file clearly shows both the orders I find it very unethical to come and post fictitious posts on the Forex Peace Army which will not change something.

Thank you,
abbass,
lahore, Pakistan,
Nov 1, 2019,
Guest

about forex brokers

Service use: Live

Length of use: over 1 Year

i have been trading in lahore pakistan with local broker ,, quite comfortable ,no banks withdrawals ,or requests , simply plat form they provide , we do trade comfortably , no swap , only commission and tight spread , just on visit withdrawal and deposit , no problem from 15 yr s,, how ever this yr he also got in habit of suspending or stop the plat form for hr , 15 min or 4 jr .. perhaps to grab some big lots ,i was very upset tried to find any good broker abroad i failed to find a single broker without complaints so i dropped the idea of foreign account however he accepts fone call to manage position if platform is closed deliberatly by them that enough also honor stop loss given in suspended plat form ,i may clsoe this busiess if he closed ,, his name is yaseen
Reply by Chris Zacharia submitted Nov 5, 2019:
Dear Abbass,

I have tried reading your review a few times:

If I understand correctly before searching for an overseas broker you were trading with a local broker from your country of residence.

Now the part I am not sure of is the second part of your review. Would you have the kindness to try to explain a little better what is your enquiry so I can be able to help you?

Thanks,
São Paulo, Brazil,
Oct 29, 2019,
Registered user

Good

Service use: Live

Length of use: 3-6 Months

I think the spreads are too high, but I think is a good company and every time I needed they supported me. I can deposit the amount that I want and the web platform is very easy to deal.