XM Review

3.021 · 627 REVIEWS

Trading Point of Financial Instruments

Updated: Nov 30, 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.

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.

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

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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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3.021 · 627 REVIEWS
Forex Peace Army
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Traders Reviews

Thailand,
Bangkok, Thailand,
Sep 16, 2019,
Guest

smooth trading experience with XM

Service use: Live

Length of use: 0-3 Months

Hello

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

BR
Nattapong
 
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
 
Aziz,
Jakarta, Indonesia,
Sep 16, 2019,
Guest

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!
 
Phan,
Ho chi minh, Viet Nam,
Sep 16, 2019,
Guest

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.
 
Azizul,
Bahsar, Malaysia,
Sep 16, 2019,
Guest

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
 
Itani,
Pietermaritzburg, South Africa,
Sep 6, 2019,
Guest

XM BROKER IS THE BIGGEST SCAM IN FOREX

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.

Thanks,

VANDERBILJLPARK, South Africa,
Sep 6, 2019,
Registered user

XM SHIFT ORDERS UNTILL YOU LOSE,RUN AWAY FROM THIS BROKER

Service use: Live

Length of use: over 1 Year

MY ACCOUNT IS 4035246 XM GLOBAL. . LAST MONTH AUGUST 9 THEY SHIFTED MY SELL ORDER AWAY FROM WHERE I PLACED IT FOR MORE THAN 280 PIPS!!!. MY ACCOUNT WAS BLOWN ,I WANT MY MONEY BACK....I FORGAVE THEM AND DEPOSITED AGAIN ,THIS MONTH SEPTEMBER 4 FOR TRADING USDCAD,THEY REPEATED THE SAME THING AND SHIFTED MY ORDERS AWAY FROM WHERE I PUT THEM ,FOR MORE THAN 320 PIPS! I MAD A VERY VERY SMALL PROFIT. XM IS A SEXING SCAMMING MARKET MAKER!! THEY HAVE BEEN DOING THIS FOR A WHILE I NEVER NOTICE ...RUN AWAY...XM I NEED MY MONEY BACK !!
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2019:
Dear Mega77,

Firstly and most important XM has not shifted your orders. Even if we wanted to shift your orders we are unable to do so.

I have taken the time to investigate your case and below I present the facts:

On the 9th of August you had 2 pending orders which were placed before a major news announcement. Due to the major move in the market you faced a normal slippage of 3 points on the first order and a slippage of 1.2 pips on the other. This is very normal during fast moving markets and especially after major news announcements.

On the 4th of September you had 2 orders on USDCAD. You once again experienced slippage due to fast moving market which was a result of the major news announcement.

I cannot be 100% sure we are talking about the same orders but I have tried searching for trades on your account which have experience slippage and above is what I found.

Thanks,

Nairobi, Kenya,
Sep 4, 2019,
Registered user

AVOID AT ALL COST

Service use: Live

Length of use: 0-3 Months

If you make any profits, they will be quick to close your account, be sure to avoid... they are only willing to accommodate loosers, so join at your own risk.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 7, 2019:
Dear Kasiti,

Posting a false and negative review is the least to say unethical and moreover not helpful to other members and readers of the FPA.

Now in order to present the facts in public manner:

Your account 4218XXXX was taking opposite trades with account number 4217XXXX. You were trading from the same IP, on the same instrument at the same time with opposite trades in an effort to manipulate a promotion offered by XM in good faith.

Your account had been refunded with your initial deposit and your account was terminated.

Thanks,

Abd,
England, United Kingdom,
Sep 2, 2019,
Guest

Not great

Service use: Live

Length of use: 0-3 Months

I left them after few months because their spreads are too high and because they increase the spreads to 6000 for USDTRY pair for one night which caused margin call... crazy
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Sep 6, 2019:
Dear Abd,

Spreads and swaps offered on all the account types XM offers are transparently presented on the XM website at https://www.xm.com/spreads

If you would like me to investigate the specific case further I would be more than happy to do so if you provide me with some details of the date you “think” this occurred.

Let me remind you that the USDTRY has seen some abnormal trading behavior for the past 2 years due to political turmoil and there has been some extreme volatility with all TRY related pairs.

However as I said I would be more than happy to investigate this for you and and report back.

Kind regards,

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.