XM Review

3.023 · 633 REVIEWS

Trading Point of Financial Instruments

Updated: Jan 18, 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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3.023 · 633 REVIEWS
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Traders Reviews

Indonesia, Indonesia,
Dec 16, 2019,


Service use: Live

Length of use: 6-12 Months

  2 traders have found this review helpful
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear 121837XX,

In order for me to able to investigate your case, I will need you to provide me your account number.

Thank you,
eg, Egypt,
Dec 14, 2019,
Registered user

as I have finally registered in FPA forum, I will post my review about XM

Service use: Live

Length of use: over 1 Year

XM is a friendly and decent broker that I had a good experience with allover my forex life. The broker is good, but I want to state a disadvantage which is that when the XM card dismissed for Egypt, they would have found a solution for it, for example, some Jordanian brokers one of the names starting with eq.... started promoting in Egypt is offering a card, so yes there's a solution for the middle east still, I don't need to state the broker name, but they will find it. I'm sure they will figure out how can they get cards for the middle east like them, and they will bring that feature back to us. Another point is the BTC deposit limits we may ignore that for now, but they need to find out a solution to allow withdrawing the profits by that method too, or you can add USDT for deposits/withdrawals, profits withdrawals as well to sort that. As long as you accept perfect money, you should be able to make the BTC or USDT request (profits withdrawal), no questions asked. In the end, this is a personal point not related to the company quality or anything like that XM is offering massive services like the live education and these services, but they need to improve the live chat employees a little bit; as it feels that they're just an offshore employees (the live chat specially except the Chinese part) as you never find your tickets passed, or questions followed up like when the live chat end these people who're on the keyboard forget anything were asked for instantly while the Chinese support takes the requests seriously and process tickets and that sometimes force me to use their Chinese chat by translate help not to bother myself with the other chats experience, the English conversation is ok. Still, they copy and paste from the website (no customer service background experience). I'm trying to explain more not to hurt them because I don't mean that there's anything terrible it might be right but needs to be improved do you understand me? Nevertheless, that live chat experience comparing to other brokers is the average, I didn't find a live chat that's better than theirs also their durable backend service. Again, thanks XM for serving me all of these years, and I wish that you can add these requests as long as you had a separate brand for EU or strict monitoring. In the end, I love XM.
istanbul, Turkey,
Dec 13, 2019,

Fake Islamic account! Do not open any account in XM!

Service use: Live

Length of use: 0-3 Months

Hello dear investors and traders,
I am a personal investor and i can say that i am in amator level.
I have sent 21367 Euro . And they have give me 500USD + %20 bonus according to my payments. Untill this everytings looks amazing for me... Untill money reachses to them they change their behaviour opositely. Withraval deposit case they are trustable. BUT everything starts after my money reaches to their hands. They have closed my islamic account just so saying we close your islamic account becasue of your trading patterns...
Please be carefull that ''I have not open any posstion after the deposit I mean no any trading happened!!!!. I hate their way of bussines. If you promise islamic account ( swap free) and opening position why do you close my account.? I lost a lot of time and eat my fingers!!! So please be careful with them. I dont want somebody else cheated by them.! I am still waiting my money back!I hope they do not steal it
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear Instanbul,

Islamic account status is given in good faith by XM to clients that follow the Islamic faith.

However your account has been traced to be related with other clients which have attempted to abuse their Islamic status (given in good faith) and this is the reason your account has been revoked from Islamic status.

In regards to your withdrawal request, please note your funds were refunded to you within 24 hours after you placed a request. From what I see from the system you placed a withdrawal on a Friday which means your funds should have been with you on the following Monday after the weekend.

Thank you,
Port Elizabeth, South Africa,
Dec 6, 2019,

No deposit bonus is a scam

Service use: Live

Length of use: 0-3 Months

I made profit with the no deposit bonus, I tried withdrawing my profit they accepted my withdrawal but after a few hours they told me, my profit was forfeited because I'm using the same IP address with another client but they don't show you who is it.

I recommend you stay away from this no deposit bonus
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear Siyabonga,

Could you be so kind and provide me your account number in order for me to investigate your case.

Thank you,
Gauteng, South Africa,
Dec 5, 2019,
Registered user

Withdrawal issues

Service use: Live

Length of use: over 1 Year

My first four withdrawals went off without a hinge.
My fifth withdraw is the one I have been waiting for for almost three months. My account numbers are 42123472 and 275891

First I was told that my account manager, Asmael somehow stole from his clients when xm did a system upgrade from the 7day withdrawal to a 2 day withdrawal.

Then I got a new account manager named Naheem. After he gave me the run a round that they fixed the system I still didn't get my money.

Then I got referred to Peter(supposedly one of the account managers manager) long story short he also gave me the run around.

Then I got Monica(the one account manager who never seems to be in the office) she too claimed that they moved back to the original system and claimed to have put my withdrawal through multiple times but failed as I'm still waiting for my money.

After trying to get hold of Monica yet again,reception put me through to Abselon on the 29/11/2019. He has offered to help me. I really hope he can do what none of the other account managers were unsuccessful at doing. He said the money will be in no later than the 06th of December.

I really hope to update my review with good news soon.

I would just like to say that thus far Abselon has been good at contacting me with the other account managers I ended up trying to contact them 4 times a day 5days a week.
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear Aldrid,

I have looked in to your account and I can only find one withdrawal request dated January 2019.

Moreover you mentioned the following names:


I have double checked this and we have no staff at XM with those names.

Can you please confirm with me which email or contact details you are using when talking to these people?

I would like to alarm you and stress that either you are contacting a different company or someone is impersonating XM.

Thank you,
LDN, Philippines,
Dec 1, 2019,

Withdrawal Issue

Service use: Live

Length of use: 3-6 Months

I am having an issue with their withdrawal. I had withdrawn before with no other issue but this time it's a nightmare! They keep saying every time I withdraw my account of only $528 (imagine this amount and they cannot even release it) they send an email as below almost 5 times already.

Dear Valued Client,
*This is an automatically generated response, please do not reply to this email.
Please be advised that in order to process your withdrawal request we need you to provide us a screen print of your Bank account which confirms that this account is in fact registered under your name.
As a result your withdrawal request cannot be processed and funds have been credited back into your trading account.
You are therefore kindly requested to send a screen print of your Bank account to backoffice@xmglobal.com. Please note that your full name and Bank account number have to be visible on the said screen print.
Once provided, please submit in new your withdrawal request which will be processed accordingly.
Please accept our apologies for any inconvenience caused.
Thank you in advance for your kind understanding on this matter.

With Best Regards,

XM Team
Back Office
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear Isabelle,

I can investigate this for you if you are kind enough to provide me with an account number.

However, it is very common for the backoffice to request additional documentation in order to protect our clients from idendity theft.

Have you provided the backoffice with the screenshot they requested?

Let me know,


Denpasar, Indonesia,
Nov 29, 2019,
Registered user

I have to say Average broker

Service use: Live

Length of use: 0-3 Months

The platform design for web and desktop are just average and can be said as poor design. There are fee charges on low withdrawal as well. I saw there are many reviews saying this broker is a scam? But not sure since I have just traded with them for a few months. Let's see then
  1 trader has found this review helpful
Sabah, Malaysia,
Nov 23, 2019,

High spreads.

Service use: Live

Length of use: 3-6 Months

Im sorry to say that XM is one of the most high spreads compare to other broker.
Otherwise, beside spreads, everything else is very good.
Your customer services is the best.
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear Faisal,

Thank you for your review.

We offer a variation of account types with different spreads and different offerings.

You might want to visit -> https://www.xm.com/account-types to see all your options.

Also remember that you can have up to 8 accounts with XM so can feel free to try a different account type to match your needs.

Thank you,
gaza, Palestinian Territory, Occupied,
Nov 22, 2019,
Registered user

good broker

Service use: Live

I asked for the withdrawal and there were some problems but I was contacted by my account manager and the problem was solved quickly and I advise dealing with this company because it is honest

Nov 16, 2019 - 1 Star 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
Sweden, Sweden,
Nov 18, 2019,


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
Reply by Chris Zacharia submitted Nov 22, 2019:
Dear Dim,

Can you please provide me your account number so I can investigate your case.


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.