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.

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

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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
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Traders Reviews

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,
Antigua, Antigua and Barbuda,
Aug 30, 2019,
Registered user

Xm is a scam broker

Service use: Live

Length of use: 0-3 Months

Xm have to be the most scam broker in forex i just witness a live manipulation of the candlestick after holding a buy position for nearly two hours as soon as i close the position the candle shoot in the same buying direction i mean exactly as i closed it. This is unbelievable how xm scam my chart and i dont care what they do to my account they are a scam and people should know. I wonder if they are regulated and getting away with this
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Sep 6, 2019:
Dear Shakie12,

I have read your review a few times and I cannot understand what exactly you are trying to say.

So in order for us to help you and reply to your various “accusations” I would need some details like time this happened, ticket number of the trade.

If I have this information I would be more than happy to help you!

Kind regards,
UTTAR PRADESH, India,
Aug 22, 2019,
Registered user

not paying

Service use: Live

Length of use: over 1 Year

guys you are telling about your bonus money was not credited in real but I have deposited money of 100$ and they did not withdraw my money. don't know why they doing this because I was 2 years used this broker and they paid me timely. but at last, they make a scam with me. I was referred many people to this broker but now they also leave it. they call me and email me that they processed my funds but I didn't get it in actual, they provide me ARN number and all this but that was totally fake. for providing them with some proofs, statements and complains via banks i wasted another 8000 to 10000 INR. i thought i will refer XM and can make more money but i was wrong. it is an scam broker. we should avoid this kind of brokers. trading is always risky and usually people loss. but if broker also do the scam then what people can do??

Feb 6, 2019 - 1 Star XM is a scam broker i am waiting for my payment since aug 2018. i provided them all my details and ask for the payment. they haven't any issue with skrill but they not paying if you transfer through the debit card. After facing all this problem i think that use broker who truly regulated, scam brokers has always the same problem they paying few people but not all people. My MT4 id is 4303914 on XM global. i am connected with many groups in telegram and also more then 4000 people are connected over their with me. they told me on the group that you share the issue with forexpeaceaceadmy. i know they will not refund my money but at least people should aware of the scam brokers who lotted the money.

Reply by Chris Zacharia submitted Feb 8, 2019 Dear sandeepkr,



It is part of our Company's policy, upon processing a withdrawal request to refund in priority any deposit made through Debit/Credit Card. For this reason your withdrawal, requested dated 23/08/2018 was accordingly processed to the Card you had previously used to perform a deposit.



As per our records the realized refund was successful and for this reason you were given by our Company a reference number (ARN: Acquiring Reference Number).

Please keep in mind that the said reference number is the actual proof that the funds are held by your Bank (the Issuing Bank) whereas ARN numbers are used by all Banks worldwide to transfer among each other Card transactions (purchases and refunds).

We would recommend you to contact the Head Office of your Bank, as not all branches and/or Bank Officers have access to such transactions and refer to either the Bank's Risk Department or the Complaints Department, as these two have access to the Bank's Card Scheme, so as to obtain further assistance.

From our end we can raise a further inquiry with our Payment Provider and the Acquiring Bank, so as to find out the current status of the said refund, yet in order to do so it is necessary that you provide us with the following document:

Bank statement starting 01/08/2018 up to date which will show the following information:

- The Bank Account

- The Full Name of the Account Holder

- The Bank

- The related Card you used to deposit

- The deposit made to us on 02/08/2018



This document will be used from our end as proof of non receipt of funds and we will report this to the relevant Bank for further investigation.



Kind regards,
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Sep 6, 2019:
Dear sandeepkr,

If I am understanding what you are saying, you are claiming XM provided you with a fake ARN Number?

I really have done my outmost efforts to help all clients with any issues here on the FPA over the years but I really cannot understand how you could come up with an “allegation” that XM would provide you with a fake ARN. Sandeepkr I hope you do understand we service more than 2.500.000 clients so I really don’t think its even logical that you could post such an “allegation”.

Anyhow, regardless, we are very willing to help you solve this problem and if you indeed did not get your funds, I kindly ask you to contact your personal account manager and we will have this issue solved for you as soon as possible.

Kind regards,
Lineo,
Lesotho, Lesotho,
Aug 15, 2019,
Guest

Registration bonus profits NOT withdrawable

Service use: Live

Length of use: 0-3 Months

I opened a new account with XM and opted for the £20 trading bonus. Made profit of £30. Tried to withdraw the profit but I got an email stating they will not be processing the withdrawal claiming I had contravened some of their laws and that I would forfeit it-and that NO further correspondence would be entered into. How much more if I had deposited my own money only for XM to close my account and take the money?
The bonus thing does not exist, according to my experience. They will let you register, verify your account but when you claim...STORIES
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Aug 20, 2019:
Dear Lineo,

I have checked your account and I can confirm that it has been terminated due to multiple violations of the fair rules of the No Deposit Bonus promotion.

Our system has detected that you are related to multiple clients that have already claimed the No Deposit Bonus.

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.