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.

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.

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
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Traders Reviews

Israel,
Dec 1, 2016,
Registered user

OK

I have been trading with this broker for a couple of months.
Overall they are ok.
The spreads are a bit high, but I was om micro account so it's understandable.
After you open an account you first need to submit documents which is good because from the start they confirm that you have been verified and withdraw.
The withdraw it self took less the 24h
 
Egypt,
Nov 22, 2016,
Registered user

Have intercourse with this fake company this company play with pricees to avoid take profit in another account it hit take profit but in xm it avoided it by 3 pips

Nov 11, 2016 - 1 Star Xm is a total scam 30 bouns cannot be used in trade i donot recmond trading with it biggest scam ever.

Reply by Chris Zacharia submitted Nov 17, 2016 Dear Kandeel,



XM is offering 30 USD non deposit bonus for specific regions.

Please kindly note, that this bonus is given to the clients to start trading without even depositing money.In addition, the profits, which are made with a help of 30 USD non deposit bonus can be withdrawn.



Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
 
Cyprus,
Nov 20, 2016,
Registered user

Zero cost ECN = 10usd per lot round turn, slippage, bad execution and dcs.

10dollars per lot on ECN round trip. What a joke, fools. I traded 800 lots and that cost me 8K euro of commission fee. Most expensive ECN 'wanna be' broker!! The platform gets dc time to time, all this promotions and trading terms suck. I did give XM.com a try and they are NOT fair or human. Just another kebab with high prices and slower execution ridiculous slippage. It may be best to through your money in the trash can.

Ff you also trade 5 lots+ on a trade. Its a guarantee you will have slippage. Go to support they will say market execution blabla trading at lower hours blabla or news blabla occurs slippage. Set .1 and no slippage and setting 5 lots slippage.. ofc XM very fair.

Two start for high promotions to attract people and offering back brokerage service.
Disappointing XM.
 
Reply by Chris Zacharia submitted Nov 22, 2016:
Dear Jozafntou,

You have left a claim without sharing your MT4 ID and ticket number. I kindly ask you to follow up with your MT4 ID to initiate an investigation and transparently present the full data of your claims.

Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
ErSe,
Germany,
Nov 18, 2016,
Guest

so far so good

Hello, so far very good experience in XM Zero Account, i have not made a withdraw yet, but spread and everything is very good fast executions.

Best regards
 
Doha, Qatar,
Nov 13, 2016,
Registered user

Very good broker

this company I work with since one year back, so far so good and I didn't face problems with them only I am suffering lose and that is because of me seriously, honestly they are good
 
Pakistan,
Nov 9, 2016,
Registered user

Best broker i have ever use.in us elections volatile market my stop loss was perfectly hit. and my pending buy order in eurusd was perfectly executed.
Best broker for serious traders. thanks XM thanks
 
europe, Lithuania,
Nov 5, 2016,
Registered user

overview

good broker but time to have XM ecn acount.. Dealing desk is not good choice and weedend candle in daily time frame is not good for trade
 
Limassol, Cyprus,
Nov 1, 2016,
Registered user

Average company

For me it was a little bit disappointing.. registration is okay, they have mt4 which is the market usual

BUT

- execution is really slow, market freezes for seconds! I encountered freezing with 14secs.

- it's not a problem for me it a company is MM but I personally hate it when I can clearly seen the modification of things

- spreads are wide but it's okay if you're a long term trader

All in all, I consider them as a average company which has the space to grow.
 
Nairobi, Kenya,
Oct 22, 2016,
Registered user

Good & Honest

I have been trading with XM for more than six months. I can confirm that this company is honest (at least up to acceptable levels). Your funds are safe too. The only thing I hope they can improve on is the spreads and more choices for account types, especially the introduction of ECN accounts. I totally recommend this broker for both new and experienced traders.
 
Rome, Italy,
Oct 21, 2016,
Registered user

xm.com free 30 USD accout shows that xm.com is actually a scam broker, very dodgy situation with trades hijacked

In this review I prove that XM. com is a scam broker. I wanted to try them out as I have seen that they have an accout with 0 spreads. I also noticed they give a trading accout with free 30 USD / 20 GBP to trade. I uploaded my documents and everything and I have decided to see how their free accout was doing. I set up the ordinary MT4 trading accout (not the 0 spread) and I set up running on EURUSD chart a breakout EA that I know that is profitable so I wanted to see how this EA performed with the free 20 GBP accout xm.com gave me. Well, what happened is extraordinarily dodgy: my EA opens a trade, if the trade is going in profit, the trailing stop is updated but in the trading journal the open trade shows not the actual profit or loss figure, just 0.00. An screenshot is worth more that 100 words. I post the link to the image where you can see the situation with your eyes.
https://s9.postimg.org/5osarpo5r/Immagine_xm_scam.png
As you can see the trade is in profit, the trailing stop is working but the trade does not show profit, just show 0.00.
So basically xm.com says to the traders, join me and I give you 20 GBP for free to trade but you cannot actually trade. What game are they playing at? After this experience I have decided to stay away from them. This thing that happened to me makes me think that they can seriously manipulate clients orders. Trust me, stay away.
 
Reply by Chris Zacharia submitted Oct 24, 2016:
Dear pietro,
Please kindly note, that you have opened a MICRO account and you have been trading the minimum lot size, which is 0.01 lot.
If you are trading 0.01 lot in MICRO account, then for every pip of market you gain or lose 0.001 USD, which is not even 1 cent.
To gain or lose at least 1 cent, you need to have 10 pips of market change and then your profit or loss of 1 cent will be displayed on your MT4 account.
In the screenshot you provided, we can see that the difference is 3 pips and the value of this is 0.003, so that is the reason why it was not shown on MT4 platform, because MT4 only shows 2 decimal numbers.
Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Ahmad,
KL, Malaysia,
Oct 21, 2016,
Guest

Account for cut off during EUR/USD spike?

Did anyone got their XM MT4 account cut of during the EUR/USD spike? (80-90 pips) This was after the Draghi, EU Central Bank announcement. 20/10/2016. I was about to short and my account got disconnected for 1-2 minutes. my other account from a different broker were fine so it's definately not my internet connection. anyone?
 
Arthur,
Uk, United Kingdom,
Sep 7, 2016,
Guest

Scamers

Xm.com are scamers they scamed me twice today and last year ! Avoid them I will be gathering all info about them scaming people!

They do not scam only the high capital people coz scared to be cout by regulators!
 
Reply by Chris Zacharia submitted Oct 17, 2016:
Dear Arthur,
You have left a claim without sharing your MT4 ID. I kindly ask you to follow up with your MT4 ID to initiate an investigation and transparently present the full data of your claims.
Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Athens, Greece,
Sep 7, 2016,
Registered user

They will find reasons to make profitable traders leave

Unfortunately, my good experience with Xm didn't last.

I had invited my best friend of to their company, and after they noticed that he had 3-4 good trades in this year, they decided to make him go away, lowering his leverage 9 times and cancelling any available bonus that the company is offering in every deposit.

The ''reason '' was that he was trading news announcements, abusing their NBP (?).

But the fact is that he traded only the nonfarm payrolls in the last five months (1 time a month is abusing????) and he had been simply profitable.

My self has traded much more times news in the same period of time but everything is OK (obviously because my deposits are much higher than my withdrawals!!).



The most hypocritical of all was that the very same person who was speaking with the most delicate way to my friend (I had been in front of my best friend when this manager had been calling him at his first months in the company and hear them speaking), now he was cold as ice, giving as de facto the decision of the company, based on the known ''explanations'' of abuse during news trading...



So XM is not so serious after all...

I now know that what will happen to me too, and to everyone, when we will make some money.

The company wants only the loosers as customers.



Aug 9, 2016 - 5 Stars True Negative balance protection.
Mostly tight spreads and many leverage options
No restrictions on trading strategies
Fast withdrawals
Excellent bonus system

I really cannot find anything bad on XM.
(Maybe they could offer higher leverage in some indices!)
 
Reply by Chris Zacharia submitted Oct 17, 2016:
Dear BlackViper,
You have left a claim without sharing your MT4 ID. I kindly ask you to follow up with your MT4 ID to initiate an investigation and transparently present the full data of your claims.
Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Brazil,
Sep 7, 2016,
Registered user

I've spend around 2 hours in live chat trying to understand why my stop loss on a short was triggered I entered a trade at Eur/Usd 1.12558 hours later put a stop at 1.12548 price reached 1.12509 and closed my position. they said my trade closed because price reached ASK price, the spread is 1.7 pips not pips. This happened to me so many times and never happened using other brokers. I will just move and never use XM again, be careful people.
 
Reply by Chris Zacharia submitted Oct 17, 2016:
Dear widros,
You have left a claim without sharing your MT4 ID and ticket number. I kindly ask you to follow up with your MT4 ID and ticket number to initiate an investigation and transparently present the full data of your claims.
Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Pakistan,
Aug 27, 2016,
Registered user

Good overall, just not good spreads.

The spreads are extremely high on Standard Account, even on Zero Spread account the spreads can be higher than non-commission based accounts with other brokers. This is the only issue I had with XM.

The payment process went smoothly and withdrawal was also done within an hour or two using Skrill/Neteller.

I was able to trade during NFP news as well as interest rate news. The platform will freeze on you if you have TOO MANY charts open during such events, even during non-news but highly active market. This should be kept in mind. Keep minimum charts open for such high events.

The pings to their servers are amazing for me. 150-190 ms, since some are located in London and perhaps other locations too.
 
Schildie,
Nordfriesland, Germany,
Aug 26, 2016,
Guest

I am using XM for years, and so far i didn't find any issues, and make very good profit. Once i have to contact them due to request change my address and family name after our marriage, after i sent all necessary documents, it was absolute fine, no problem - no headache. Customer Service (German) are very professional and fast.

Withdrawal is very fast, take only few minutes.



Time goes... though i am still trade with them in small capital occasionally, but now i prefer to trade ECN. Such a pity the don't offer it.



Of course i would recommended XM to anybody. To avoid future problem - and also with another brokers - make sure you fill anything with the right documents during register process, and you will be fine.
 
Malaysia,
Aug 23, 2016,
Registered user

I've been with Xm.com since this company using the name of Trading Point.

I have suffered a loss in its early stages.

For me there are some weaknesses in this company but I still recommend this company can be trusted.

No one in this world is perfect.

My recommendation to anyone who wants to negative comments that include evidence as an example chat with customer assistance so no confusion to those who want to get information.

I do not support these companies, but I want another investor the right to information so they can make informed decisions.

For the new investor, believe that forex trading is very risky, easier to make a profit and also easy to lose.



 
Brazil,
Aug 16, 2016,
Registered user

BAD like all others Forex company's!

I think this company is BAD like all others Forex company's!

They hang the market (WHAT I #BUY/SELL# when the price going (Up or Down) to do not late us won anything!

The hanging time is more than 3 MIN & I already have print screen about this.

Other thing, they do not have any Live Supporting in Arabic Language...

I am trying to speak with some one in this company more than 3 weeks and until now, NO ANSWERS!


MY REAL ACCOUNT IN (XM): 14115844
 
Reply by Andrey submitted Aug 16, 2016:
Dear 14115844, Arabic speaking customer services representatives may not always be available, however we do offer 24/5 live support in English. Alternatively, you can always contact our representatives fluent in Arabic via email at arabic.support(at)xm.com. Such long delays in execution are highly unlikely and, therefore, I kindly ask you to share ticket numbers of trades that you believe had delays in execution so we could investigate your claim. Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Algeria,
Aug 14, 2016,
Registered user

so racist

i find every where a pub about xm and about 30 dolars welcome bonus when i sing in and claim the 30 dolar i have been told that whare i am from dosnt deserve this welcome bonus. so racist
 
Reply by Andrey submitted Aug 16, 2016:
Dear soni14, We are offering different types of promotions for different countries, and some proportions may not be available in certain regions. I am confident that our customer support did their best to politely explain that No Deposit Bonus is not available in your region. We value all of clients and we are always willing to find solutions that ensure that our client are receiving the best service possible. I kindly ask you to contact me at andrey(at)xm.com so we could resolve this issue. Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Turkey, Turkey,
Aug 8, 2016,
Registered user

Really Great and trusted

Really Great
I don't have any problem with them at all !!
Deposit is fast, Withdrawing without any problem and quick. No fee at all when deposit or withdrawing !!
Also they have great rewarding system
 
fellow,
cairo, Egypt,
Aug 4, 2016,
Guest

i register with xm now almost a year now and I tell you what it is an amazing company that deserve more credit i can't find anything about wrong about it maybe the spread a little high sometime but it is fine and the withdrawal is very fast I had no problem with it the bounce amazing i just want to wrote this because nobody write a feed back when things are good i find this company very satisfying i don't think i am gonna change it for now.
 
Mhanad Muhsen Alsaedy,
Arbil, Iraq,
Aug 3, 2016,
Guest

this xm is good brokr onlu problem is too many much email letter they send me and i dont like this beacuse no unsubscrib option
 
Reply by Andrey submitted Aug 11, 2016:
Dear Mhanad Muhsen Alsaedy, You may unsubscribe from our newsletters at any point of time. If you no longer wish to receive newsletters from XM, please click on "Unsubscribe" at the bottom located at the bottom of each newsletter. Please note that if you choose to unsubscribe, you will also no longer receive important notifications concerning changes in trading conditions/hours that we send from time to time. Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Jacqueline ,
, Malaysia,
Aug 1, 2016,
Guest

My account number 2661813

Bad experience!! It's purely a market maker broker. in the website they said they allow news trader. there is once i place a pending order before news, they keep removing all my pending orders and doesnt allow me to place before news. When i complaint they said they dont allow us to place pending orders before news!

TODAY, i wanted to trade RBA rate cut too. I have entered a sell trade and my trade was profiting. the moment i close the trade, my trade was around 130+ profits, but after closed it, i check back the history the trade was closed with negative. at the moment i close the trade the market is not moving very fast anymore!!!!!!!!

so means they dont allow me to trade news!
 
Reply by Chris Zacharia submitted Aug 3, 2016:
Dear Jacqueline, First of all, news trading is allowed and we never cancel pending orders for this reason. You can place pending or market order at any time of the day, regardless if there are news announcements or not. The only reason why a pending order may get automatically cancelled is when the market reaches the price you set and you do not have sufficient funds for this order to be executed. Second, our logs show that you have cancelled pending orders in question yourself. These orders have been placed and cancelled from the same IP. If you check your MT4 logs, you will also see that the request to cancel these orders came from your side. Finally, when trading on the news your profit/loss may change significantly in matter of seconds due to price volatility. However, I can assure you that we always aim at executing clients' orders at the best available market prices in any market conditions. Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Max,
Lancashire, United Kingdom,
Jul 26, 2016,
Guest

I've traded with XM on and off for a few years. Due to past experiences, I do not trust brokers by default so I have used XM with the expectation they would attempt to rip me off at some point.

It genuinely surprises that my experience with XM has been generally excellent apart from the occasional customer service gaff.

The spreads aren't the best in the world but after factoring in XM's consistency of execution, low slippages etc then XM are actually cheaper to trade with than many other brokers especially after XMP (see below). What I like most is the peace of mind I get, I am able to leave my experts running in the confidence nothing untoward will occur in my absence.

The cent account functions exactly the same as a standard account and is an excellent tool for testing systems.

Additionally, XM offers a real-time XMP lot based bonus system so I receive rebates daily which is nice. I still have an ECN account with another broker but I will continue to use XM for as long as their service remains so robust.

Please note: I have traded close to 10000 trades with this broker over the past few years.

2015-12-24 2 Stars XM is an excellent broker for traders who haven't learnt how to make money trading the markets. As soon as a trader graduates from being a loser to being a consistent winner, XM will cause you many many problems with the usual bucket shop tactics.

The micro accounts are useful and a low-cost way to forward test strategies, I prefer to forward test on a live account vs demo account so using a micro means the losses and profits are in the pence/cents. Beyond this, if you can afford it use an ECN broker all the time.

Rebuttal: Added by Chris A. Zacharia on 2015-12-31
Content: Dear Max,

I am glad to hear that you have found our micro accounts to be useful but at the same time I was surprised to read your comment about the "bucket shop tactics". Can you please elaborate on that?

XM is a reputable financial institution and we value every single client. If you have experienced any issues, I kindly ask to share your MT4 ID and post any specific concerns that you might have.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
 
ASH,
SOUTH AFRICA, South Africa,
Jul 14, 2016,
Guest

i have decided to join xm.com since i see dedication in them taking time to respond here, however i am getting a run around with them accepting my docs, and now i am thinking of going with another broker.
MT14089534
 

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.