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
Forex Peace Army

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Traders Reviews

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
Reply by Chris Zacharia submitted Nov 22, 2019:
Dear Mimi2020,

In order for me to be able to reply to your review in a transparent fashion I will need your account number.

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
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Nov 22, 2019:
Dear Alzahif,

Your account is related to another 37 clients. In simple words you have tried to claim the No Deposit Bonus Promotion given to you in good faith 37 times with different emails therefore your account was nullified and adjusted.

I would strongly advice to refrain from using “SCAM” in the titles of your review and I would also advice that you refrain from attempting to open additional accounts in order to abuse the promotion as you will be blocked again and once again nullified.

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
Reply by Chris Zacharia submitted Nov 22, 2019:
Dear DBS77,

You sent a withdrawal request for funds to be sent to a Skrill account.

Upon receiving your request our compliance department have replied the following:

“Dear Valued Client,

Please be informed that the information of your Skrill account (date of birth) you provided does not match the information of your XM account.

In addition to the above, please contact Skrill and directly in order to resolve the issue and resubmit your request with the correct details in order to proceed accordingly.

Kind Regards,

XM Compliance”

All in all we are unable to process a withdrawal request to a Skrill account which although might be in your name has a different date of birth since that is categorized as an account belonging to someone with the same name but a different date of birth effectively making it a third party transfer.

Our compliance department asked you to contact Skrill and provide them your proof of idendity in order for them to correct your date of birth in order to be able to proceed with the withdrawal request.


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

I have looked into your case,

First of all the balance which you were trading with was not 17,000 USD but 1,700 USD.

You had fully hedged positions and a remaining equity (outside the hedged positions) of 45 USD.

The reason your account was stopped out was because your equity became negative due to the swaps charged for holding the hedged positions overnight. Eventually your account did not have enough equity to support these positions so it was stopped out.


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,
lahore, Pakistan,
Nov 1, 2019,

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
  1 trader has found this review helpful
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?

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


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.
Johannesburg, South Africa,
Oct 24, 2019,
Registered user

Uses Terms and Conditions to steal clients money

Service use: Live

Length of use: 0-3 Months

I created an account on XM on the 19th of September, but I did it just to test their 30$ bonus and I lost the 30$ while trading so I discarded the account. Then after a 3 weeks, I remember I was watching tv during the day, I got an email from XM offering me a very tempting offer, a 100% deposit bonus. I trade with FBS, I withdrew 550 from FBS and deposited it to XM chasing the offer on the 23th of October. I bought gold and made a profit of 900 on a single day, when I try withdraw they took all the profits and returned my initial deposit. And they told me I breached their terms and conditions a while ago I dont know how.

My questions are listed below:
1. If I breached the terms and conditions a while ago, why would you wait for me to deposit and make profit before addressing the issue?why did U send me an offer from the start, if it wasn't for the bonus I wasn't gonna deposit
2. If I breached your terms, what gives you a right to take my profits, unless im trading against you and when I win you guys are losing , which is unfair to me because i should know right ??
3. Which account am I connected to? And how am I connected to that account, is it IP address ? Is it my sibling? Is it trading patterns? And after answering that, show me an email send to me that I should deposit because I'm connected to an account as you claim. You should warn me before right? Why wait until I make profit ?
4. Is this what XM is? A bet on your money and profits, are we gambling with our money by depositing on XM? How should we know we can't trade with XM if we are only told after we place a withdrawal that we violated terms?

Forex Peace Army tell me if I'm wrong, if you a client violated terms and conditions, they should terminate business relationship with the client prior to offering them tempting bonuses. Is this what XM is?? A company that hides behind terms and conditions to steal from clients ?? I don't think they themselves understand their terms and conditions.

XM the way you are doing , you using terms and conditions for your own convenience and that's clean stealing from hard working customers. If a client violated terms, it shouldn't depend on whether they winning or losing , terms are terms they should hold in every situation, not in situations that are convenient only for XM. My conclusion is XM You are a scam company that manipulates rules to benefit from customers losses

Oct 23, 2019 - 1 Star I used the 30$ account and lost, after a month they invited me to deposit and get 100% I did that by depositing 550, made 900$ and when I withdrew they told me my account is connected to another. Why would you offer an account connected to another bonus
  7 traders have found this review helpful
Reply by Chris Zacharia submitted Nov 5, 2019:
Dear Colefe,

I have thoroughly investigated your case.

To be accurate you did not try to claim the $30 No Deposit Bonus once but a total of 91 times with different emails/different documents.

Our Middle office has blocked the majority of these accounts up to day.

Any further trading activity on any of these 91 accounts will be caught as related if you continue trying to follow the same pattern.

Moving forward, one of these 91 accounts which have related activity (IP/Device e.t.c) was not yet marked as blocked so you got an email for a 100% promotion as you state.

When you claimed the 100% bonus you were once again marked by the system to be related to the 91 accounts (90+1) of which many were blocked in the first place and therefore once again blocked.

Your deposit was refunded and you were once again blocked.

All in all, it makes no sense trying to find ways to issue more accounts and try to abuse promotions given by XM in good faith as it will simply come to the same result.

Thank you,

Dubai, United Arab Emirates,
Oct 23, 2019,
Registered user

In my opinion XM is an average company

Service use: Live

Length of use: 0-3 Months

This is my opinion based on my experience with company trading real money since October 1, 2019

1. Customer service:
its an average level customer service, I have submit a complaint and requested them via Email 3 times to let my account manager contact me, until this moment i didnt receive the call from my account manager, every time they Reply to my email they say that they forwarded my request to my account manager and he will contact me shortly, yesterday the last email i replied to them that if he didnt call me yesterday i will write a bad review about the company still he didnt call.

i have noticed that spread sometimes widen double or triple times the regular spread but this they already mentioned it floating spread so i cant blame,

Trading Platform:
im using MT5 mobile app most of the time on the go, i have noticed sometime the order execution takes more than few seconds, which caused me to loss 1 trade (after it was wining trade) and miss some trade opportunities (few not much) but most of the time the execution of the order is almost immediately, they need to work on that (this was one of the reasons i wanted to talk to account manager).
regarding MT5 for MAC it was working first now its not opening even I removed and installed again still the same, but its a good thing for its not original but its high quality same as original, Other online sellers sells it as osx users as there no native MT5 for mac.

I submit a withdrawal request on oct. 18, 2019 they said from 2 to 5 days to be in my account (credit card) after 3 days i contacted them to give me ARN but they said after 10 days i can request, however i received it today which makes it within the 5 days As mentioned, however I submitted another withdrawal request couple days back and not yet received so far, but i think i will receive on the fifth day as first withdrawal.
My opinion : its just fine about withdrawal since I received within their timeframe but it will be much better and advantage for them To make it earlier, also i recommend them to provide the ARN after 5days not 10 days as i was told, since the processing time frame 2 to 5 days.

Overall: at first i read reviews before i open the account and deposit money on FPA i liked that they reply to comments unlike others, which means somehow they care about their reputation, but i gave 3 stars only because of customer service which should be much better than that specially in terms or requesting a call from my account manager and until this moment not received an calls !! At first automatically he called once i opened the account and after i deposited the money disappears up on request!!

I wont recommend and i wont warn, as this is my opinion after 3 weeks of trading with them only, and i will update this review later on up on the changes if any

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.