XM Review

3.023 · 633 REVIEWS

Trading Point of Financial Instruments

Updated: Jan 14, 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

Join live discussion of XM.com on our forum

Go to forums

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.


Your company video here? Contact ad sales

3.023 · 633 REVIEWS
Forex Peace Army

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

Your feedback matters!

Traders Reviews

tbilisi, Georgia,
Jun 7, 2019,
Registered user

I work with XM for many years and I can say it is an excellent broker. I recommend it to all. I wish you a good trading
islamabad, Pakistan,
Jun 5, 2019,
Registered user

very bad

Totally scam broker , I placed an order on 29th may , on gbp/jpy takeprofit was 138.20 at 16:50 GMT +3 price crossed that level several times , but order was not sopped after crossing and after that it ended in loss after hitting stop loss , I have question to xm why trade was not stopped after crossing take profit level???

When i contacted there support , it was totally pathetic , third class support they ask me to send log files from mt4 i send it to them , then they asked me directly mail us from mt4 ,i mailed them also but after sometime i came to know that directly mailing files eventually means sending files to meta quotes , then i realize that xm is wasting my time , On 31 may i recieve mail that you will be informed in 24 hours still nothing recieved , i have every proof against this broker please don't trust them they are simply manipulating the prices and trade platform , if they were not wrong, they should give me explanation to my problem otherwisd i will complain FCA, amd austrailian security exchange commission for your behaviour ,
account no .39074217

May 7, 2019 - 1 Star Totally scam and never trust this broker at any cost. When you are making good amount of money they will cut down your leverage and restrict it to 1:100 , i want to ask this broker why haven't you do this before we making any money? is there any rules and regulation about it? is this apply to only few customers which are making money? When i contact there customer support useless explaination were given by them. Don't trust this broker, i am also withdrawing my whole money . Never ever recommended this broker

Reply by Chris Zacharia submitted May 9, 2019 Dear Abubakar,

Without having your account number, I cannot transparently present details of the situation that you are complaining about.

Therefore, I kindly ask you to share your account number.

Kind regards
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Jun 6, 2019:
Dear abubakar11,

The reason why your Take Profit order was not executed is because SELL orders are closed with the ASK price and this price was not reached.

Please note prices you see on your charts are BID prices. However, you can enable ASK line to be displayed but you will only be able to see the current ASK price and the charts will continue to be drawn using only BID prices.

Kind regards,
Nairobi, Kenya,
May 22, 2019,
Registered user

They have the best services ever. They have lessons as well and they help you in every step of the way.
Kitui, Kenya,
May 18, 2019,
Registered user

No help finding money

I put money in my account so that i could trade when it was officially validated but the withdrew money from my account and their customer care is offering no help whatsoever. They also say that their validation takes only a day but thats a lie since it takes more than a week and thats assuming they ever do it. The account number is 4756832
Reply by Chris Zacharia submitted May 21, 2019:
Dear Omutua3q,

You have already been informed that XM's Compliance Team has discovered that the documents you submitted appear to be forged and cannot be accepted. Most importantly, I can confirm that your funds were refunded in full on 17.05.2019. If you have trouble locating your funds, I kindly ask you to contact our Customer Support and they will be able to provide you with the ARN number.

There is absolutely no need to blame the company because it was you who failed to provide the required documents to validate your trading account.

Kind regards,
Muscat, Oman,
May 15, 2019,
Registered user

Excellent broker

I chose to stick with XM as my broker of choice even after trying a few other good brokers. I find their execution great and their fees more reasonable than many others. Highly recommended for beginners and advanced traders.

Mar 21, 2019 - 4 Stars So far so good. Acceptable spreads and good deposit withdrawal process. XM mobile app could use some improvements like adding traders sentiment and perhaps a copytrade feature.
ndola, Zambia,
May 8, 2019,
Registered user

sell stop moved from 0.65913 to 0.65382

Noimie 04:14
Hello Jacob Shete ! Welcome to XM! How may I assist you?
Jacob Shete 04:18
acc is 4508666 why was my sell stop moved from 0.65913 to 0.65382 which made me to loose
Noimie 04:19
May I have the order number of the trade please?
Jacob Shete 04:20
Noimie 04:22
Thank you. As per checking this is due to the important news release with NZD currency, due to a sharp rise/fall in the market price, your order may be filled at a different rate than you requested.
At XM, your orders are filled at the best available market price, which may be to your benefit.
You can check the economic calendar here : https://www.xm.com/calendar
Jacob Shete 04:24
then whats the point of a sell atop order
if you can place the order at any price you feel like
Noimie 04:27
Please note that prices on the market are not from XM, it is given by our liquidity providers. XM do not have access to the prices, since there is an important news that affect the market price, your trade was closed to the next available price due to sharp rise and fall of the market price.
Jacob Shete 04:30
who are this liquidity providers and dont you give them the orders in advance since its a sell stop order
Noimie 04:32
We do not disclose our liquidity providers, Jacob.
Jacob Shete 04:37
then whats the point of giving you my sell stop orders if you dont have any powers to execute them dont you thinck its stealing or manipulation
Noimie 04:40
Your order may be filled at a different rate than you requested especially when there is important news release.
Jacob Shete 04:44
noimie thanks but am highly dissapointed with xm
Noimie 04:44
Is there anything else I can assist you with?
Jacob Shete 04:44
  1 trader has found this review helpful
Reply by Chris Zacharia submitted May 14, 2019:
Dear jacobshete,

You have posted a transcript of a conversation you had with our live chat.

As noted on the live chat conversation, your order was executed during a release of important economic news announcement and the market was extremely volatile.

XM similar to the interbank market operates on a Market Execution model which means that during a volatile and fast moving market (e.g during the time of news announcements) you are executed at the best available price. It is important to note that when trading on Market Execution you are guaranteed to be filled in without a re-quote but when the market is extremely volatile you will be filled in at the best available price. This can sometimes lead to you getting filled on a price which is slightly better or slightly worse but in the long run it has a very minor effect on the performance of your trading account.

Kind regards,
egypt, Egypt,
May 6, 2019,
Registered user

xm They stole my money from me .

I deposited $ 320
xm They stole my money from me .
Account no: 46040191
My trades closed suddenly and account closed
This caused me to lose my money
They are closing deals on loses without notice , and they not Refund of any loss .
They send part of the money on their own without submitting requests to withdraw and steal the rest of the remaining money
Beware this company, do not deal with them
I was intend to put the account number with the password, but they disabling the account and send part of the money and stole the rest of the money
you can see this pictures:
  2 traders have found this review helpful
Reply by Chris Zacharia submitted May 10, 2019:
Dear saeed khaled,

We have thoroughly reviewed the issue raised in your email dated 18/04/2019 and we can confirm that your trading accounts 45104220 and 46040191 have been closed due to the fact that you used trading strategy aiming at exploiting technical errors in our platform (i.e., rounding errors). In particular, we have reasons to believe that, either through the use of a computer-based software (i.e., Expert Advisor) or manually, you used this trading strategy in order to benefit financially in an unfair manner.

Kindly note that the latter is not in line with our Terms and Conditions of Business and constitutes a violation of the said terms which you accepted and agreed with prior to the establishment of our business relationship.

Further to the above, we have evidence confirming that your trading information, including but not limited to the IP address, is the same with other clients of our Company, whose trading accounts have also been disabled due to the same violation of our Terms and Conditions of Business. At this point, we would like to stress the fact that the management of our clients’ trading accounts by any third party (e.g., other clients of our Company) is not allowed and constitutes a violation of the said terms.

In view of the above, we can confirm that our business relationship has been correctly terminated and any positions in your trading accounts which were still opened have been liquidated automatically at prevailing market prices; as such, we can further confirm that any available funds in your trading account have been sent back to the initial source of deposit. In this respect, we regret to inform you that your request for a refund has been rejected.

At this point, we can further confirm that you were accurately informed of the above by our Middle Office Department on 18/04/2019. Additionally, 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 Terms and Conditions of Business

Please note that this is our final response and no further correspondence will be entered into in relation to this matter.

Kind regards,
May 6, 2019,

Was good. Is worse than bad.

I have been trading with XM for several years. Very happy with them initially where deposit and withdrawal were exceptionally fast. Trade execution was fair and acceptable.

Not until later in 2018, i have start to experience IT connection issue to their trading platforms as well as their member's login. During the first couple of times, i thought its just a possible transition period for any form of issue to be rectified. but things got worse where deposit in few instances, were not accounted for and until i got them to investigate several times and with alot of effort at my end, then they bother to work around a solution and eventually saw my record of depositing. This is the tip of the ice berg. Then on, at least few times within a month, there will be brief moments that trading platform cannot be accessed during critical period. And the problematic period can last between 20mins to 60mins. During this period, u are all alone. No alternate method to contact, unless u willing to spend high amount of money for oversea call to explain your issue. No announcement made to keep client engaged or whatsoever. Customer support didnt even bother to find out why and only said will email back with 24 hrs. Technical support, do they even exist? World class? my foot.

So where was my account manager? Unable to solve my issue and only ask me to submit my issue via another channel and waiting for another round of investigation. I dont even know where it leads to. As time goes by, more than 6 mths have passed, my account manager does not only didnt solve my problem, instead of probing in as to why i show certain level of unhappiness, she mentioned since im the only one having this problem, this is my issue. So my reply to her was, that would me my whole country is having internet connection issue!

What's my trading profile? I traded an average of 250 lots or more per month easily more than 12 months.

I will not reveal my trading account number due to security reason. but im willing to provide assistance to investigate without the involvement in current point of contact.
  3 traders have found this review helpful
Reply by Chris Zacharia submitted May 9, 2019:
Dear unhappy,

I am sorry to hear that you are experiencing some problems and I will be happy to help you and resolve any problem that you might have.

I kindly ask you to send me a Private Message with your account number and I will make sure that any problem you are having is resolved as soon as possible.

Kind regards,
May 5, 2019,
Registered user

Please I cannot understand the meaning of this why will my trade be stopped out again without it hitting my stop loss and go and stop me out please I need my money or I will go to the relevant authorities to report this wickedness. I placed a trade on 2019.05.03 18:07:58 to buy eur/jpy 0.9 vol, at 124.521 and placed a stop loss at 124.339 just to check the system now to find out that the system took me out at 123.654 giving me a huge loss why, some days back the same thing happend and i complained and you guys said that its news session you guys need to give me my money cos i can see you guys dont play fair.

this is outright wickedness what is stop loss there for if its of no use then you should delete and not to deceive people that it works, the incident that happened on the 3rd of may is wickedness the one with gold/usd now its eur/jpy, please I need my money, I have been trading for a long time now and am not new to trading, what is the reason for stop loss if it will not trigger
Reply by Chris Zacharia submitted May 8, 2019:
Dear papas_sami,

You have made various allegations against XM.

In order to maintain transparency please share your account number and numbers of trades that you believe were executed at wrong prices.

Kind regards,
Cape Town, South Africa,
Apr 25, 2019,

The broker manipulates pending orders for fundamental events, they move, cancel or actual trigger your pending orders before the point set to enter the trade to ensure that you lose. Very much disappointed at XM in relation to this.

My pending orders were manipulated, the broker executed the trade before the market reached my entry point and blew my account while the market never reached the point which i said I should enter the market for the event but my order was triggered, tried to enquire but had no luck as I was told that the market was very much volitile during that period which I knew and hence why I traded that time, all in all I was never refunded my money and honestly bercause of that XM is Frauding people because its not only me that had the same problem.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted May 2, 2019:
Dear Khosi,

You have made various allegations against XM.

In order to maintain transparency please share your account number here and the number of the order that you believe should not have been executed so I could investigate your claims and explain why this order was executed if it has.

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.

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.