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.


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

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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3.024 · 633 REVIEWS
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Traders Reviews

KL, Malaysia,
Oct 21, 2016,

Account for cut off during EUR/USD spike?

Did anyone got their XM MT4 account cut of during the EUR/USD spike? (80-90 pips) This was after the Draghi, EU Central Bank announcement. 20/10/2016. I was about to short and my account got disconnected for 1-2 minutes. my other account from a different broker were fine so it's definately not my internet connection. anyone?
Jan 23, 2019,
Registered user


Xm scammer and thieft the skrill email account that i use to deposited to you is now belonge to third party as you clam when i request for deposite, i will let all trader know about your activities for scamming untill you pay me. I request for withdrawal of 90 GBP from my account in (13152812) to my card they said I can only received 38 GBP and the rest through wallet but to my surprise they send only 38 GBP to my card which I deposit from but I provide them my skill account, and for a week. Now they refuse to pay me and I also use my neteller they also decline it for about 2 week now.
Others I advice you not to deposited to Xm.com again they really scammer now, I contact them on live chat, they told me that I use third party account which is bounce of lie, I have use this skrill account to deposit to them before and I also gave them my neteller, they also deny of paying me. Please if you have fund with them start withdrew it now I advice you trader because I lost my hard earning to them

Nov 29, 2017 - No Rating Xm is now started to scamm, I request for withdrawal of 90 GBP from my account in (13152812) to my card they said I can only received 38 GBP and the rest through wallet but to my surprise they send only 38 GBP to my card which I deposit from but I provide them my skill account, and for a week. Now they refuse to pay me and I also use my neteller they also decline it for about 2 week now.
Others I advice you not to deposited to Xm.com again they really scammer now, I contact them on live chat, they told me that I use third party account which is bounce of lie, I have use this skill account to deposit to them before and I also gave them my neteller, they also deny of paying me. Please if you have fund with them start withdrew it now I advice you trader because I lost my hard earning to them

Reply by Chris Zacharia submitted Dec 4, 2017 As we can see you have requested a withdrawal of 80 GBP and we have sent to you 38 GBP back to your credit card as it was source of deposit.

The remaining amount you can withdraw by e-wallets, you have requested the withdrawal on Neteller and Skrill, but the details such as name and last name of e-wallets account does not match with the data you have provided upon the registration of your trading account, meaning we can not process any withdrawal if e-wallet account does not belong to you.

Since now you have requested a withdrawal on Perfect Money e-wallet, you have been requested to provide a screenshot of your Perfect Money account in order to confirm that it belongs to you.

You have not provided this screenshot yet and that is why your withdrawal has not been processed yet.
Chris A. Zacharia,
Limassol, Cyprus,
Dec 11, 2011,

Official Representative of Trading Point of Financial Instruments Ltd.

Dear Thanwath,

Can you please follow up with your account number so we can investigate your case and see why your 50 USD has not been paid.

We would advise that if you feel you would like to act as an advisor to other traders it is transparent to submit data and details of your case to ensure:

1. Your case is real.
2. You are presenting your case in an honest way.

Summing up, it is only realistic to say that NO European licensed broker would jeopardize its license or its credibility by not paying a customer his profits. I would suggest being more responsible with your reviews on a serious site like FPA.

If you would like us to follow up publically with your case please follow up in the same transparent way with your MT4 ID and we will post a full summary of your case to ensure transparency.

Thank you,

Chris A. Zacharia

Official Representative of Trading Point of Financial Instruments Ltd.
Chris Zacharia,
Limassol, Cyprus,
May 18, 2012,

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

Dear Miyabi,

Our average spreads and lowest spreads are transparently posted on our website here  http://www.trading-point.com/download/docs/spreads-micro.pdf and here --> http://www.trading-point.com/download/docs/spreads-standard.pdf.

In regards to execution: Please note that almost all of the orders executed within milliseconds, however during high market activity (often experienced at times of important news releases) there are cases in which there may be some delay, up to several seconds, as orders arrive in huge numbers and are placed in the queue for execution. Our team works very hard in eliminating any delays, especially as we thrive in not rejecting any orders or giving any re-quotes.

Thank you,

Chris A. Zacharia – Trading Point of Financial Instruments Ltd.
, Canada,
Jan 24, 2013,

Here is the latest on my case regarding XEMarkets and the late return of my money.

A few more emails, three phone calls from them and a couple more weeks delay. But I am glad to finally report that my money was received on Jan 11--exactly two months since my first withdrawal.

I don't know for sure if the intent was to scam me initially, but after talking to three men from XEM on the phone, the vibe I got form them was that they were not intending to keep my money. They sounded sincere. There seemed to be some mix up with the bank(s) which they cleared up.

For the delay, they also sent an extra $530 to make up for this problem.

So I guess it would be fair to say that XEMarkets did not scam me out of my account funds. However, I do not understand the lies and slander purpetrated by Chris. This was not neccessary and puts a dark shadow on XEMarkets. For the time he spent 'discrediting the witness', he could have instead, done something to resolve the issue. Very unprofessional and not the correct way to treat a customer with a legitimate complaint.

My other complaints still stand -- high spreads, extremely high swap fees and the bonuses that are just temporary loans which are not withdrawable.

2012-12-19 1 Star 1. You are the ones that have not followed up. It took 5 weeks for you to supply me with the ARN numbers AND I had to demand this information. Sounds like YOU are the ones not co-operating or trying to get this resolved as quickly as possible. (Remember, the first withdrawal was Nov 9 and today is Dec 19)

2. Here is a copy of the email response to your senior account manager's (notice he refers to himself as a senior broker NOT a senior account manager) (Chris's lie number 1) request for banking information:

Adam Kyriakou
Dec 14 (5 days ago)
to me, bcc: Andreas, bcc: chris

Dear sir,

I would like you inform we take issues very seriously with our clients and that this a real screen shot from our payment system i am a senior broker here and want to clarify that the payments were send to you. Please send us the name and telephone number of your bank and will personally contact them.

Please find the requested ARn below:

....(nunbers supplied but not shown in this post)

Kind Regards,

Adam Kyriakou | Business Development Manager | Business Development Department
T: +357 25029900 | F: +357 25820344
E: adam@trading-point.com
Steffan A
to Adam

Dec 14 (5 days ago)

Hello Adam

Thank you for the call but why did it take several emails and 5 weeks to contact me??

The bank is TD Canada Trust
1 250 763 4241

The number for the Visa card is
1 800-983-8472
or collect
1 416 307 7722

So Chris, what is your excuse on this one? Email not working? Went to the spam folder? You liar!

3 You have the nerve to call me fraudulent!? I am the one still waiting for MY money! Send me a copy of that fraudulent report. Watch out people, this guy makes up stuff to make others sound bad and xemarkets sound like they are trying soooo hard and are soooo righteous. What have YOU done other than make up stories to make a good, honest customer/trader sound bad and defend yourself? Where is my money, Chris?

4. You say you received a notification from your PSP that my issuing bank reported me as “fraudulent” and as a licensed company and since you comply with EU regulations regarding fraudulent transactions, you have refunded all remaining transactions directly to my issuing bank and blocked my trading account.

Post the evidence on both of those tales here. Or all will know you lied. Again and again.

You like to sound like you follow the rules, and you say you refunded all remaining transactions (what remaining transactions? Why were some still remaining? Another lie) directly to the issuing bank, then WHERE IS MY MONEY? It still sounds like YOU are the fraudulent ones as I just checked and the money has NOT been deposited back to my card. You lied again.

And as for blocking my account (again you make it sound like you follow the rules and won't put up with 'anything') I sent an email to xemarkets minutes after I closed out the last trade to send me all my money and CLOSE the account. It was not closed or 'blocked' because of any fraud or misrepresentation on my part. Another lie.

5. As for the excessive swap fees that your 'team' 'professionally addressed' (there you go again, sounding sooo good--what team? it takes a team to do this? Really?) you can supply any figures you like to fit your calculations but the FACT of my experience is that your swap fees are much higher than normal. I know that and for you to try to justify it is feable and just makes you and your 'team' look like idiots. I have had other trades for longer at your firm that were nowhere near that rate.

6. The word 'scam' can and will be used right here right now because XEMarkets has scammed me and I am still waiting for my money. The handling of this matter has been slow as if no one cared. XEMarkets is a SCAM AND CHRIS is a SCAM DEFENDER! WHERE IS MY MONEY?

7. You say, 'We are ready to provide you with all relevant correspondents.' (Note-the correct spelling is 'correspondence'). So why haven't you? I have to ask for it? That should have been immediately sent if these were any such serious issues as you alledge. More lies.

8. Why has my bank not contacted me about the fraud that you alledge? Why did they not cancel my credit card? Why have I not been arrested and charged with a crime then? Just lies and more lies, Chris.

Don't bother responding to this Chris. We all, especially myself, have had enough of your lies and I hope people read this and stay away from xemarkets with their high swap fees, high spreads and your attacking of innocent traders with so many lies, when you are the ones in the wrong. Very unprofessional and disgusting! WHERE IS MY MONEY? Just return it and I will post that it has been. Until then I consider xemarkets as a SCAM. Period.

After this pathetic, lie laced response to my complaints against xemarkets I have lowered your rating to


2012-12-17 2 Stars 7 weeks now and I am still waiting for my 2 small withdrawals totaling less than a thousand dollars! I made 250% profit on my account in 4 weeks and finally had enough of their high spreads so decided to close the account. I was told it would be 2-5 business days for the money to show up on my credit card.

Emails have gone to and fro and one of my last emails where I demanded to talk to someone in charge went unanswered for 6 days. I wrote back again angrily and got a reply the next day from Adam who said he was the head trader there. I am not sure how that qualifies as management. He also called me that day and seemed like he wanted to help. He said he would call the (my) banks and Visa first thing the next business day morning. I did not hear from him. To call here it is 7 PM there and 9 AM here so it is not like he had to get out of bed at 2 AM, just make a couple evening calls.

Also, on my final trade they had the nerve to rip me off with super high swap fees! I had .002 of a contract and they charged me about $5.50 swap fees on the open trade for three weeks! This is about 10 times what it should be. I have traded for many years and have not seen this before. This was nothing but a dishonest way to grab some of MY money as a good-bye present for themselves.

Shame on you for taking 7+ weeks (so far) to resolve this issue and return my money, and SCAM me on swap fees! (yes, Chris, SCAM is the correct word and not too harsh for this site)

I warned XEMarkets a few times that I would come here and let thousands of traders know about this mess but they ignored any remarks in that regard and did nothing extra so that I would not be inclined to post here.


I'm still waiting.............................................................
Riffa, Bahrain,
Jun 12, 2018,

My case is Closed

My name is tariq idrees my XM account number 17160705 , honestly im extremely sorry for my behave against the company due to i misunderstood and i dont have any demand against the company ,

Jun 4, 2018 - No Rating My name is tariq and this is my xm account number 17160705 ,

From 13 may 2018 till today i have withdrawal of 1287 usd i didnt get it in my account !! The call centre and customer service is the worst ever you must call them more than 20 times and you will be lucky if they answer your call !! Also some of withdrawal trans had been rejected in reason which they said they transfer from uk to australia and previous deposit history is not valid and you dhould deposit again to your profit !! Is that logic !!!

The customer service is extremely rude they dont have any respect to their clients ,

I explain to customer service and my manager account my issue and they provide dor me ARN number of transactions which is not an offical document and once i contacted my bank they reject this number even i contacted the visa company which also they said this number is useless ,i request from xm to provide me an offical document of my withdrawal transactions but till now i didnt get any reply ,

I lost more 10k usd beacause of this fraud company ,

Stay away from this fraud company ...

I will work hard to share my experience to protect to people from this company and to be suspended from my country and the gcc country ,

If i lost 10k usd , they will lose milions ,

I got all the evidence of what i mentioned above ,
Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).,
Limassol, Cyprus,
Mar 29, 2013,

Dear She,

We would like to bring to your attention that XEMarkets is not allowed to close positions of a client without his consent. Therefore your allegations are not true. We would like to reply to your complaint with explanations and calculations as it seems there are some misunderstandings that we would like to clarify.

First, I would like to make it clear that XEMarkets staff is always prepared and ready to help their clients with utmost professionalism, and I believe that in your case you have been provided with full care and support. Second going back to the details of your trade, and after investigating all the communication that was circulated between you and XEMarkets, We would like to assure you once again that we do not and we did not close any of your trades. Please note that you have confused the opening time/price with the closing time/price. We would like to clarify again that Ms. Zuzana explained to you that you have confused those dates and that your positions were closed due to a stop-out, and as a result she has escalated the matter to your personal account manager, Mr. Adam in order to provide additional assistance. You have been contacted by Mr. Adam, your personal account manager; however the time of his call wasn’t convenient for you and you requested him to call you at another time, which he did but unfortunately you never replied. Therefore he emailed you to request the appropriate time to get in touch and yet there was no reply from your side. XEMarkets have given you all the possible attention to assist you with all queries you may have. Your accusation that Mr. Adam never called you back is not correct, especially when there was minimal cooperation from your side.

Now let’s focus on how the system works on the trading platform which will for sure clarify all your inquiries and help you in future transactions. Although each client is fully responsible for monitoring their trading account activity, XEMarkets follows a margin call policy to guarantee that your maximum possible risk does not exceed your account equity.
A Margin call is not an actual “telephone call” that a trader expects to receive from any broker. A Margin call happens when your equity drops 50% of the margin needed to maintain your open positions. The used margin however refers to the amount of money you need to deposit in order to open the trade. The Margin is displayed on the MT4 platform by clicking on Terminal  Trade. The calculation for Margin Level is : (Equity/Used Margin)*100%. So the margin call is a simple email notification that will be received on your platform (when possible) to alert you that you have reached the point in which you should decide: deposit more funds to support your loosing positions or consider closing them.

The granted bonus that clients receive does contribute to trading via equity; however it is listed in your account as credit. Therefore to calculate your actual equity, use the following formula: Equity= balance + Credit +-Profit/Loss.

Going back to your Margin, when trading forex (currencies) the required/Used Margin for a specific position is calculated as such: Number of Lots* Lot size (in units)/Leverage. The margin is calculated in the first currency of the traded pair and then converted to the base currency of your trading account (if necessary) in order to be numerically displayed on your MT4 platform or any other trading platform.

It is very important to explain the Stop-out here. Stop out happens when your equity drops to or below 20% of your used Margin. When that happens the system will start closing trades one by one stating from the one with the biggest loss in order to decrease the used margin and by that attempting to increase the margin level to push it over 20%.
To sum up, XEMarkets is not responsible for monitoring the accounts of clients; it is the sole responsibility of the client to monitor his account.

I hope all the above clarifications will help you with your further trades. Our team will remain at your disposal for any assistance you may need.

Thank you

Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).
Kuala Lumpur, Malaysia,
Jul 27, 2017,
Registered user

XM (Trading Point) biggest scam

I believe this is the biggest scam broker. They just try to be nice in front of people. but behind they are really stealing money and scamming many traders. my trading account number 32029354, I deposited $500 into my trading account. When i made around $990 profit, then i make a withdraw request of $600, then suddenly they sent me an email saying that arbitrage trading style, and they will close my account and everything. Later i try to contact with the live chat and they asked me to reply the email, but i haven't got any reply from them after sending email also, I think this is the biggest fraud, and i pray i could get all my money (deposit+profit) back.
Reply by Chris Zacharia submitted Jul 31, 2017:
Dear siddiquim,

Your unethical posting will not be tolerated anymore. Your use words like “scam”, “fraud” and “stealing”.

For reasons of transparency we will post the reasons you have been blocked below, however this is final time we reply. From this point on you will be requested to be blocked by any forum for posting false and unethical claims.

Your account 32029354 is related to 50 other accounts opened under different emails and ID’s which are taking opposite trades against each other. You have attempted to abuse the offerings of the Refer a friend scheme and the welcome bonus scheme on multiple occasions.

You have been blocked on your previous accounts, but you have once again returned attempting to abuse the exact same offerings under different emails and different ID’s.

You have logged in to more than 1 accounts which do not belong to the same ID from the exact same “Android Smartphone” attempting to take opposite trades on different accounts belonging to different people.

We strongly suggest that you stop attempting to open fake accounts as you will once again be caught and blocked.

Thank you,
Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).,
Limassol, Cyprus,
Mar 29, 2013,

Dear Zhang,

Although your withdrawal has been processed normally it is our obligation to apologize for the inconvenience caused with miscommunication of your account manager and our backoffice desk which has essentially caused your inconvenience and the delay.

Since you requested a withdrawal to a different card from the initial card you used to deposit funds the backoffice desk was required by law to request additional documentation.

Kindly note that based on our records the last withdrawal request you sent was on 18th March and was cancelled from your side. Your account manager has addressed the issue and was providing you her assistance and guiding you on how to request a withdrawal request again since you requested a withdrawal to a different card from the card originally used to deposit.

Regardless of what has happened in the situation you have experienced, we feel fully responsible and concerned with the fact that you felt disappointed. We would like to apologize for any inconvenience that this situation may have caused. We appreciate your feedback and we can assure you that we will do our best to make sure that none of our existing and future clients will ever feel unsatisfied.

Thank you

Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).
Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).,
Limassol, Cyprus,
Mar 29, 2013,

Dear Loganathan,

It is unacceptable to come to a reputable forum as FPA and warn people about a regulated broker when the actions taken towards you were due to your abusive use of the bonus.

We would like to remind you again that XEMarkets offer has certain terms and conditions that are transparently printed on our website which we advise all our clients to read.

Kindly note that if XEMarkets suspects that a client has abused or attempted to abuse a promotion or otherwise acted with a lack of good faith towards us, then XEMarkets reserves the right, at its sole discretion, to deny, withhold or withdraw from that user the 100% Bonus Promotion or any other promotion and if necessary to cancel any terms and conditions with respect to that user, either temporarily or permanently, or terminate that user’s access to the service and/or block that user’s Account. In these circumstances, XEMarkets shall not be liable for any consequences of the bonus cancelation, including, but not limited to, order(s) closure by StopOut.

Thank you

Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).

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.