XM Review

3.022 · 643 REVIEWS

Trading Point of Financial Instruments

Updated: Apr 5, 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.

XM

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+)
Cryptocurrencies:
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

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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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3.022 · 643 REVIEWS
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Traders Reviews

Gorakhpur, India,
Apr 3, 2021,
Registered user

Xm.com is the best ever

Service use: Other

Length of use: over 1 Year

Whatever the review they are giving but iam using xm.com since 2019 and they are great no deposit problem no withdrawal problem i give them 100 out of 100.Overall great service .
  1 trader has found this review helpful
bandung, Indonesia,
Mar 23, 2021,
Registered user

xm cancel my profit

Service use: Live

Length of use: 0-3 Months

I tried to register and started trading with xm

Just a few days of trading and getting profit from my trading, suddenly I got an email about the change in leverage from xm.
All trading profits that I made during the trade are deleted.
All for no apparent reason from XM.

Beware of trading with XM
They don't want you to win
Scam Broker
  2 traders have found this review helpful
bandung, Indonesia,
Mar 21, 2021,
Registered user

Exness not delete my profit trading and reduce my withdrawal amount

Service use: Live

Length of use: 0-3 Months

I trade with XM, and make profit trading,
But XM suddenly sent an email changing my account leverage.
Then they wiped out all the profits that I had so far.
When I contacted their support, their answers were convoluted.
They also didn't give a reason when I asked why they wiped out all the profit I got.

And they emailed me to be required to withdraw all my funds by them,
but when I withdrew my funds, they didn't pay it in full, they deducted about $ 600 from all my withdrawals.

Several days I kept asking about my problem to their support, but the answer I got was not clear.
Until the time I received an email that they had no more correspondence with the problem I was experiencing.

Disappointed broker and scam broker
Be careful with this broker, when you lose they are okay
But when you profit they won't pay it.
  2 traders have found this review helpful
Ibadan, Nigeria,
Mar 16, 2021,
Registered user

I lost my money because of XM

Service use: Live

Length of use: over 1 Year

Xm closed my opened trade at a loss, the price eventually reversed and i lost, I chat with them and i was told to send an email, i latter sent the email and i received the reply below
"Regarding your concern, please note you were informed by our relevant department about the status of your account. The decision is final. 
"
  3 traders have found this review helpful
Sadiq abad., Pakistan,
Mar 11, 2021,
Registered user

Xm is the biggest scammer broker.

Service use: Live

Length of use: over 1 Year

Xm is biggest Scammer group he closed my open positions 153 $ and also removed 1 week history ofmy mt4 account.
I have every proof screen shots and daliy confirmatin reports of my account.so everyone be alert and careful of this XM Scammer Broker.
  3 traders have found this review helpful
Lagos, Nigeria,
Mar 8, 2021,
Registered user

Speedy Response

Service use: Live

Length of use: 6-12 Months

I had problem of withdrawal.
Support responded within 1 hour.
Though yet to get my money.
Other withdrawals were executed within 4 days.No issues
 
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%
  2 traders have 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,
  2 traders have found this review helpful
Sorawit,
Bangkok, Thailand,
Feb 17, 2021,
Guest

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
  2 traders have found this review helpful

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.
https://www.forexpeacearmy.com/forex-reviews/7214/xm-forex-brokers.

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.