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
Forex Peace Army

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

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Traders Reviews

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
Johannesburg, South Africa,
Oct 23, 2019,
Registered user

I have been scamed my 1000usd from xm and i have all proof

Service use: Live

Length of use: 0-3 Months

Xm gave me 15 days to send my profit and they never did i have screen shots and proof.
  3 traders have found this review helpful
Reply by Chris Zacharia submitted Nov 5, 2019:
Dear Mpaswmola,

I have investigated your case:

As noted in the email received from our compliance department to you, your account has related trading activity with another account. This is a clear violation of the terms and conditions of XM.

For reasons of transparency I am posting the email sent by our compliance department to you:

Dear Sir,

We have thoroughly reviewed the issue raised in your email dated 26/09/2019 and we can confirm that our business relationship has been correctly terminated due to abusive trading strategies identified in your trading accounts aiming to exploit arbitrage opportunities.

Particularly, we have reviewed your trading activity and we have evidence confirming that you were placing opposite orders in coordination with another client of our Company in order to exploit arbitrage opportunities. Due to our “no negative balance” policy, the trading strategy you were trying to exploit would have limited the potential loss to the entire balance of the account having the loss-making position and the account having the profit-making positions to have unlimited upside potential which would duly cover the losses suffered in the loss-making account.

This cannot be deemed as an acceptable strategy as you create an environment which does not follow the fair rules of trading and makes the strategy in a way risk free and therefore not permitted.

In this respect, we quote below the Clause 60.4 of Terms and Conditions of Business/Client Agreement for your reference:

“60.4 Any indication or suspicion, in XM’s sole discretion, of any form of arbitrage (including but not limited to risk free profiting), abuse (including but not limited to participant's trading activity patterns that indicate that the participant solely aims to benefit financially without being genuinely interested in trading in the markets and/or taking market risk), internal hedging in coordination with other parties, abuse of our ‘no negative balance’ policy, fraud, manipulation, cash-back arbitrage or any other forms of deceitful or fraudulent activity, will constitute all Transactions carried and/or profits or losses garnered as invalid. In these circumstances, we reserve the right to close/suspend (either temporarily or permanently) all of the Client’s trading Accounts and cancel/or all Transactions. In view of the above, please note that you will be strictly prohibited from opening any new trading Account(s) and trade with our Company. Nonetheless, in cases where you may successfully open an Account and trade with our Company due to any technical and/or human error, we reserve every right to immediately close your Account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges.”

In view of the said violation, please note that any transactions performed in your trading accounts in the manner described above (i.e., opposite trading) are considered as void and are forfeited; thus, any profit/loss generated from these trades has been nullified. We can further confirm that you were informed of the latter (i.e., termination of business relationship) by the relevant Department of our Company, via email, on 26/09/2019. In addition, please note that any deposit (i.e., USD 500) made in your trading account has been sent back to you via the same method that these funds were deposited.

In conclusion, we would like to stress the fact that any actions taken by the Company in relation to this matter was fully in line with our Client - Company agreement which governs our business relationship.

Kind Regards,

XM Compliance

Morocco, Morocco,
Oct 20, 2019,
Registered user

Withdrawl problem

Service use: Live

Length of use: over 1 Year

Account number 42082316 really disappointed i am with xm a year ago everything was fine until September 5th! I made a withdrawal of $ 500 and that is confirm the same day they told me 2-5 business days after 10 days I received nothing I contact the support they gave me an ARN code, I gave this code to my bank they told me no trace for this transfer i believed the problem that it was from my bank, i went back to the support of xm, a bad service and especially "patrisia ilia" i explain them the problem and they have always said the same thing, after 20 days they send me a document of proof of payment whereas the document has the same thing even code that I give to my bank we turns in the same circle, I made a judicial investigation by what I thought the problem comes from my bank but in the end the problem come from them and until now I have not received my funds since September 5 and it is October 20
  5 traders have found this review helpful
Reply by Chris Zacharia submitted Oct 23, 2019:
Dear Muhamed,

I have looked into your case and all the chat communication.

As per my investigation, I can confirm that:

1. Upon you raising the issue with XM that your withdrawal had not yet reached you, we immediately asked for an ARN number which we provided to you.
2. Your bank failed to locate the funds (this in my opinion is unacceptable from their end).
3. After you notified us that your bank could not locate the funds, XM undertook the responsibility to solve this for you.
4. The customer service agent asked you to submit documentation which are required for us to be able to help you and solve the problem (which your bank could not).
5. This resulted in a frustration on your side towards XM.
6. On 23/9 you provided XM with the correct documents in order for us to “solve the problem” which was clearly an incompetence of your bank.
7. On 26/9 our backoffice confirmed with our PSP that the funds were with your bank.
8. On 26/9 your account manager provided you with the document you should provide to your bank in order for them to stop troubling you.

I understand your frustration and the fact that it is not comforting for a withdrawal to be late but you must understand that since XM is providing you with an ARN number and has further provided you with the proof you need to ask your bank to help you, you should not be angry with XM but with your bank.

This is an issue you need to straighten out with your bank, however if at any stage you need any help your account manager can assist.

Although I might sound “not” helpful, there is really nothing else XM can do from its side.

Uk, United Kingdom,
Oct 8, 2019,
Registered user

Xm group scam

Service use: Live

Length of use: 0-3 Months

Avoid at all costs, you might as well burn your money. I opened my first trading account with these crooks. After a couple of weeks I started to notice a few things.

Such as my stop-losses being hunted, I also compared their charts with numerous broker's and currency strength indicators and noticed they hold trends back. I have multiple pictures and videos of this.

Not once was I in profit with them, but yet I am with my new current broker and using the same strategy I was using with them. Also after closing my account I've still not received my money back.

I'm sure they'll make some poor excuse stating that they've sent the money or it my banks fault, as they do with everyone else.

I also want to add I never received any sort of deposit bonus, and that their spreads are daylight robbery.

Ps.. This is my opinion / view of this company. Make of it what you will.
  4 traders have found this review helpful
Reply by Chris Zacharia submitted Oct 16, 2019:
Dear Lguy30,

First and most important your withdrawal request has been processed on the 3rd of October 2019. Your review timestamp shows October 8th 2019.

In the unlikely case that you have not yet received your withdrawal yet, please inform your account manager immediately to investigate the case and possibly provide you with an ARN number.

Regarding your stop losses being “hunted”. XM cannot and does not not “hunt” stop losses. On a NDD model of execution similar to what XM follows, the broker cannot “hunt” your stop losses leave aside that this would be highly unethical to say the least.

What you must understand is that when you are trading on Market Execution no human confirms your orders so “hunting” stop losses is simply not possible.

Finally comparing brokerage charts does not really make sense. Each brokerage offers different spreads which also means different charts. XM’s spreads are transparently presented on our website under xm.com/spreads.

The decision to stay with XM or go to a different company is yours however it is only fair to post things that reflect reality here in order for this forum to continue to be helpful to other fellow readers.

France, France,
Oct 8, 2019,
Registered user

Withdrawal cancelation

Service use: Live

Length of use: 0-3 Months

I've tried to withdraw 10 euros on my XM account. They first sent me my money and they took it back after.

I've been mailing them for several days but they don't seem to understand the problem.
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Oct 16, 2019:
Dear Terence49039506,

Your withdrawal was approved and processed from what I see on your account.

I cannot understand what you mean when you say "They first sent me my money and they took it back after".

How is that possible?

Waiting for your feedback to close this as solved.

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

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.