XM Review

3.01 · 630 REVIEWS

Trading Point of Financial Instruments

Updated: Dec 5, 2020 · 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 cryptocurrencies, 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.

XM.com is part of Trading Point of Financial Instruments UK Limited group. Members of this group include Trading.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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3.01 · 630 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

Nigeria, Nigeria,
Oct 1, 2019,

Excellent customer service,

Service use: Live

Length of use: 3-6 Months

Excellent customer service ,smooth execution of trades,,truly one of the best brokers ,,withdrawal and deposit quite smooth
North West, South Africa,
Sep 26, 2019,

Happy with XM broker

Service use: Live

Length of use: 0-3 Months

I lost and made money with XM(nature of Fx), customer service is good, deposit is just instant and withdrawal is smooth, their company withdrawal Ts & C's says, it will take 2-5 working days for money to appear, in my case it took 35hours to receive my funds, of which am happy, if things stand this way, this relationship is long term one
Quezon City, Philippines,
Sep 17, 2019,
Registered user

Withdarwal Period

Service use: Live

Length of use: over 1 Year

Its the 12th day of my withdrawal and it still wasnt sent to me despite my daily follow up. Im given excuses after excuses. Worst broker in terms of withdrawal. STay away. Its not the first time it happened.

Aug 12, 2019 - 1 Star Account number: 24111637

Traders beware with XM's misleading and fraudulent negative balance protection gimmick and bonus. They will secretly deduct the credit from your account. I noticed it when they glaringly did it when the market was adverse in my GBP pairs.

The rep Marielle told me that this is because of the negative balance of my previous lost. I cited her the terms and conditions that I could not lose more than my invested capital but she said that previous losses will be deducted from present balance. I asked her where is that in the terms and conditions but she could not provide. Instead, she mutters generic answers that is nowhere in the terms of conditions.

Traders, beware. XM misrepresents. The only reason why I endure their very high spread is due to the bonus and negative balance protection. But they do not practice it. They may credit you 50% or 20%, but they will secretly remove it from your account little by little. I just noticed it today when the market is adverse against me.

As a broker, XM does not care about its traders. Taking out credits when it is needed the most is just callous.

Mar 6, 2019 - No Rating Two weeks and counting and my withdrawal is not yet in my bank.

Of all my chats with their representatives, they are just passing the buck to third parties. I'm just been given bulls and looks like this is the practice and they are used to this.

XM will promise you everything just to make deposits. But when you will withdrawal, you will be given headache. XM will just pass it to third party and will excuse themselves.

AVOID THIS broker. Black hole of your money.

Mar 5, 2019 - 1 Star Account number: 24111637

This broker is not transparent. It commit things that it cannot keep. It raises our expectations and then always fail to deliver.

Issue: Withdrawal.
I made a withdrawal with XM committing that it will be transferred within 2-5 days. I find it reasonable since it is the industry practice.

Its now March 5, 2019 and XM has not sent it yet. I already opened a case with my local bank for their remittance department to check. XM has not sent them anything yet XM is saying they have already sent it.




Reply by Chris Zacharia submitted Apr 8, 2019 Dear ericklhenares,

I hope that you have already received your funds but if you have not, I kindly ask you to contact our Back Office Department and your Personal Account Manager. I would like to assure you that they will be able to help you locate yours funds and have this issue to be resolved.

Kind regards
Bangkok, Thailand,
Sep 16, 2019,

smooth trading experience with XM

Service use: Live

Length of use: 0-3 Months


I have opened my first Real Micro account with XM about 2 months ago and till now I have no complains regarding their service.
The trade execution is on point and their product offerings in general are very satisfactory

Bangkok, Thailand,
Sep 16, 2019,
Registered user

Good bonus and spreads

Service use: Live

Length of use: 3-6 Months

Very easy to withdraw the $30 bonus at registration, no hidden terms. Good spreads with the ultra low account
Jakarta, Indonesia,
Sep 16, 2019,

Very Good Broker

Length of use: over 1 Year

I love the use of their Ultra Low account.
Has very low spreads, no commission, and very low limit and stop orders.
With a 1:888 leverage and the above mentioned, i have a lot of flexibility with my trading.

Withdrawals come without any delay and my Account Manager always comes for aid when needed!

I would totally recommend this broker 10/10!
Ho chi minh, Viet Nam,
Sep 16, 2019,

Great Services compared to others

Service use: Live

Length of use: over 1 Year

I have been trading with many brokers the last 7 years. All of them with shady rules and terms that i didn't know they exist.
For me transparency and fairness is what i value most and XM has it.
Another important thing that i like in XM is that they have local support in My language where i can solve any issue that i might face. I came across brokers that answer only when you want to deposit. Once you want to WD. Boom! Disappear. But not XM. Anyway i dont want to make this long. Im satisfied until now. Will update if i come across anything suspicious.
Bahsar, Malaysia,
Sep 16, 2019,

Excellent broker

Service use: Live

Length of use: over 1 Year

I've tried almost all brokers but once I've tried XM I stopped using the other ones because its the best in a matter of deposits, withdrawals, spreads, and customer support.
vietnam, Viet Nam,
Sep 10, 2019,
Registered user

Scam 30$ bonus, Can not use anything

Service use: Live

Length of use: 0-3 Months

Sign up with 30$ bonus and trading take profit. But XM will send email for you with title "You Scam and make mistake with rule of company". Finally you banned ID, profit.
If anyone want to proof i was took photo, not just me still some friends like me report it
Pietermaritzburg, South Africa,
Sep 6, 2019,


Service use: Live

Length of use: 6-12 Months

Stay away from this broker. When you make a serious profit, they remove your profits and close your account with immediate effect. I quadrupled my account on a news trade and they closed my account. Stay away if you want to save your money.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 7, 2019:
Dear Itani,

Allegations of the kind you post make no sense nor are helpful to fellow traders without any proof and are unethical at the least.

If you had an issue with XM we would be more than happy to investigate and follow up transparently.

If you do wish to leave a legitimate review which we can reply to with facts, please follow up with your account number and we would be more than happy to investigate.


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.