XM Review

3.024 · 633 REVIEWS

Trading Point of Financial Instruments

Updated: Jan 20, 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 #IFSC/60/354/TS/18, CySEC #120/10
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
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
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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3.024 · 633 REVIEWS
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Traders Reviews

Masud,
Dhaka, Bangladesh,
Feb 21, 2012,
Guest

Trading point is a good broker. I got no requotes and trade opens so quickly. Their Bangladeshi representative is so helpful. Trading point support service is good, no problem but withdrawal could be more faster. But everything is fine to me. I wish they will start pamm service soon.
 
Alv,
Bandung, Indonesia,
Mar 6, 2012,
Guest

This is broker is excellent and very very reliable!

you can count everything about trading except one: the spread is little bit high.

if only the spread is bit lowered, it sure will be a very popular broker.
 
Rohyani,
Indonesia, Indonesia,
Mar 11, 2012,
Guest

Best brokers I have ever trade, no re-quote, fast deposit and withdrawal. Recommended broker.
 
Ibrahim ,
Lahore, Pakistan,
Mar 13, 2012,
Guest

I must say That I have worked with Many Brokers but this Broker is Best Broker I have ever seen.......... Once I requested about the withdrawal my amount and this company sent my whole amount by mistake and they give me 400$ in compensate. Do you think any other broker can do this.

Best Broker. No.1 Broker I must say.
 
RAJESH BHUJBAL,
PUNE, India,
Mar 18, 2012,
Guest

I am trading with this broker since 6 months, and i must say, that This Is the BEST BROKER i ever seen,
 
Chris A. Zacharia,
Limassol, Cyprus,
Mar 20, 2012,
Guest

Chris A. Zacharia – Official Representative of Trading Point of Financial Instruments Ltd.

Dear Sam,

Thank you for your review and additionally thank you for noting the Pro’s of Trading Point however it seems you have a wrong understanding of trading terms and policies which have caused your worries about what you have noted as cons above.

Firstly on the representation you show on EURUSD spread is 2.5 pips and not 25 pips which is totally Impossible at this particular time in time. Please note that spreads at Trading Point are quoted on the 5th decimal place and are additionally variable according to market liquidity therefore averaging at 1.9 pips and going as low as 1 pip at very liquid times.

"Sell" orders are being opened at "bid" price and closed at "ask" price , "buy" orders being opened at "ask" price and closed at "bid" price.

On the chart you can see the graphical representation of the " bid" price .In order to display the "ask" line you need to right click on chart go properties/common and "tick" the "show ask line" option (please make sure that color settings of ask line need to be different that the color of background).

With regards to your screen shot which you uploaded and I have made some notes on an re-uploaded here http://www.trading-point.com/images/TP-screen.png I would like to point that the "ask" price (closing price of "sell"orders ) at that moment (20:27:51) was 1.32380 the "bid" price at that moment was 1.32357.

Your take profit of that specific order has been set at 1.32360 , therefore , it should trigger when "ask" price reaches that level.

That happened at few minutes later (20:40:58) the "bid" price reached 1.32335 and "ask" price reached 1.32358 , first time crossed your T/P level (1.32360) and ,as result the trade has been closed.

As for the stop/limit levels , please note that those are specific to all the instruments and are noted here --> http://www.trading-point.com/download/docs/spreads-micro.pdf ,EUR/USD is set up at 40points (4 pips) , which is twice an average spread on this instrument.

I hope all the above has cleared things for you, if you might need additional help or clarifications in regards to online trading, forex or the MT4 platform you can contact me directly at chris@trading-point.com and I will be glad to arrange a session with one of our account managers before you decide to start trading with real money.

I would advice you take the time to understand the basics of forex trading to avoid any future problems and possible losses with real funds.

Regards,

Chris A. Zacharia - Official Representative of Trading Point of Financial Instruments Ltd.
 
Sam,
London, United Kingdom,
Mar 21, 2012,
Guest

Hi Chris,

Many thanks for your email and response here.

I would like to take back my review as I have realised my error. Yes, I am very new to Forex trading and I am happy to admit that I still have not understood the basics, therefore, my previous review is void.

I will give MT4/Trading Point the benefit of the doubt and give another review in a month to two months time.

I hope no inconvience was caused.

Warm regards,
Sam

2012-03-19 2Star Ive been trying to find a good broker with MT4 platform and had done alot of reasearch/read alot of reviews. Out of all of the MT4 brokers I came across, TP appeared to have the best ratings so decided to open a demo account to get more accustomed to MT4. Even though I havent been trading in the industry for very long, Ive done extensive research on trends, markets, indicators etc and I also have accounts with other brokers it Option Bit, eToro.

PROs:
Operators at live chat are very helpful and supportive.
No requotes/slippage.

CONs:
Wide spreads (EURUSD is 25 pips!)
SL and TP have to differ from market price by AT LEAST 40 pips (is this normal???)
Orders dont close as they should.

Eg
Put in an order to SELL EURUSD
Executed @ 1.32396
SL @ 1.32441
TP @ 1.32360

The market price went past my TP TWICE and my order was still active. I have a screen shot here (look at the last 3 candles: http://s154.photobucket.com/albums/s275/destinyscheeks/junk/?action=view¤t=TradingP.jpg

This was the SECOND time this happened! First time round, my order closed when prices closed past my TP and then started to increase.

Very disappointed but Im fortunate I didnt loose out on any real money!
 
Mike,
FL, USA,
Apr 3, 2012,
Guest

Couldnt withdraw my money. Everytime I tried they come up with new "company policies". Gave up. Forget it. Huge spread compare to other brokers.
 
Chris A. Zacharia,
Limassol, Cyprus,
Apr 4, 2012,
Guest

Chris A. Zacharia - Official Representative of Trading Point of Financial Instruments

Dear Mike,

Please be kind enough to share your MT4 ID with us here on the FPA and we will follow up publicly if your case is real.

It is our policy to resolve all complaints posted on any forum publicly with full transparency so please follow up here and we will let you know about the details.

Moreover Trading Point has not changed any policies in regards to withdrawing funds but we would be happy to look in to your case once you provide us with your Mt4 ID.

Thank you,

Chris A. Zacharia - Official Representative of Trading Point of Financial Instruments



 
Chris A. Zacharia - Official Representative of Trading Point of Financial Instruments,
Limassol, Cyprus,
Apr 9, 2012,
Guest

Chris A. Zacharia – Official Representative of Trading Point of Financial Instruments

Dear Kostadin,

The spread at the closing of the trading week which closed on the 6th of April 2012 was very much affected by the Easter week.

Liquidity in the market through out the week was very low and especially on the closing of the market.

When you are trading with a broker offering variable spreads similar to the interbank market spreads are 100% dependent on the liquidity of the market.

However even with low liquidity spreads have not been in the range of 4-7 during last week but were ranging in the range of 1.9-2.8 on average.

Thank you,

Chris A. Zacharia – Official Representative of Trading Point of Financial Instruments
 

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.