Broker Details
| Minimum Trade Size: | 0.01 |
|---|
| Maximum Leverage: | 888:1 |
|---|
| Minimum to Open Live: | $5 |
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| 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 |
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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Traders Reviews
I'm Greek and have traded with various brokers that have presence in Greece and can say that the service and overall quality of execution is superior at this broker; I have traded with many brokers including the very high advertised ones and only to be fair I can say that trading point is very fair, fast and prompt with service.
Currently hold a balance of 2000 Euros have withdrawn 4 times till now with no problems;
Market Execution is very fair and the support is very good and quick; I totally recommend this company from my personal experience.
Dear Mr/Mrs Rick
After closely reviewing your post under our brokerage rating I have taken the time to very closely cross reference all the information which you disclose in the above "review" to protect the reputation of Trading Point of Financial Instruments.
Please note the following very carefully:
1. The name or "nickname"
1. On Feb 18, 2011, I opened an live account for forex trading in this company, the account manager is very friendly with me, but when I deposit the money to my account, they attitude chang very cold to me, I sent several email to confirm some account information, they didn't reply to me anymore.
2. When I start to trading, I usually ask my account manager for sth, and the another account manager told me he is not available, either in meeting or go out for doing other things, anyway I could not contact my account manager till now.
3. Their platform not send the Daily Confirmation email to me and they promise they will after I open the live account indeed. I ask they to send this email everyday, they said already sent, but I am still not received, my email spam folder is empty and not set any blacklist, moreover I replaced another email address, but still not received it.
4. On March 8, 2011, I sent a withdraw request, but until the March 14, I still not receive the money, I ask them to sent me the bank wire receipt, I found the Beneficiary Name is actually wrong! One of the letter should be 'i', they write it to 'l', so the money delay more than 2 days.
I already sent the Complaint Letter to FSA UK and CySEC, I wish these things to remined us to keep this broker away and the regulator organization really do sth to punish this kind of company! And strengthen the verify process, not permit these scam to authorized.
Customer service: Best I have ever experienced with any broker EVER. telephone and email responses within minutes at times.
I can't find anything negative to say about Trading Point. I'm a small time trader and my account is under $5k, and i am treated like I matter. Also, I love the Paypal deposit option (thought you cannot withdraw that way)
customers happy. I have never been with a borker with so much
class. I give them a BIG 5
2011-02-08 5Stars I just signed up with this broker and all I can say is WOW!!!!
Their Customer service / Support is OUTSTANDING !!!
Too soon to let you guys know anymore but so far so very good.This is why I am giving them 5 Stars. I will you posted if I should found out any more.
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.
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.
I began in the middle of January with this Broker and have since then felt confident enough to deposit a little over $1000. I have not made a profit so far (I need a new system), however I have been looked after well, through their chats and a Mr. Chris (my account manager) and am pleased with the fact that I still have not received any re-quotes and what's more all of my trades are instantaneously processed.
I would definitely recommend this broker; so far I have not faced any issues on or off the trading platform with them and am satisfied with the service. The only thing keeping me from giving them the full five stars is that they do not have a web based platform which would really be beneficial for me.