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

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.

Jun 1, 2017,

This company xm close my account with blink of eye this said i had relations with other clients i said i dont have relation to them thats my own money my own invest my salarymthey are thef i scam my money they dont bring my money back when they close it..scammers my account number is 13105749.stay away in this scam site..
Reply by Chris Zacharia submitted Jun 7, 2017:
Dear rey,
Please kindly note, that your account was closed due to several violations of our company’s Terms and Conditions.You have been previously contacted on this matter and also our Compliance Department has provided you with a detailed reply on your complain.
Philippe D.,
near Geneva, Switzerland,
Apr 2, 2013,

I fully confirm and support Ganesh' comment on XEM's bonus program. I first lost all of my equity, even went below 0 and could finally come back gaining in the end nearly 3.5 times my initial investment. I would have long get closed for business anywhere else.
So I keep my account open, maybe I will get back to them when I have a clearer view on Cyprus financial situation and feel confident that the problems I experienced lately were due to exceptional circumstances.

2013-03-26 No Rating So to close this case, I confirm my credit card was refunded but in 4 small fractionnal payments on value 22nd and 23rd. Unfortunately customer service at Visa did not initially reconcile them with the total amount I was expecting which explains my late confirmation.

2013-03-24 No Rating Dear Carol,

Of course I will give you a follow up which I think is fair, and that precisely motivated my comment mentionning that I fInally received your confirmation of payment after 3 DAYS!!! And I did not enjoy it either.

How dare you now asking me for fairness and nearly to justify myself when in the end your own company did not respect its own commitment of 24h. delay on withdrawals?
Please take your own responsability and admit you have offered a very poor service on that aspect.
In addition I guess you have to improve your communication with you customers. We had to wait until Friday 22nd to receive an email from your company confirming the safety of clients funds when some of your competitors on the island sent the same info already on Tuesday, which was crucial given the serious uncertainties around the Cyprus financial situation.
Should I had received this memo earlier I, and supposedly many other of your clients seemingly overloading your back-office with similar requests to mine, would have taken all this more easily...

To end on a more positive note I must admit that I was otherwise always satisfied with the forex executions and conditions.

2013-03-2No Rating I finally received a confirmation of execution of my withdrawal request yesterday afternoon. But I am still waiting for my credit card issuer to confirm payment reception.
So this should be solved now otherwise you will hear from me...

2013-03-20 2Star Just want to inform traders that I have been trying during the last 48h. to get my money back in vain. Less than $2000 but seemingly they are having some trouble and everyone there just repeat over and over again their stinking promises mantra of "asap payment", "pushing the best they can on their back-office" which seems overloaded as a matter of fact...
Not only are these people desperately trying to gain some time but keep telling lies such as "I promise we have no liquidity problem" as told by my account manager Mrs. Helene Zenios.
Their onlime customer-care chat is as useless as robots, repeating over and over that they apologize, ask for patience and promising their b/o will process my withdrawal request asap etc...
MEGA B...S....!
Not only do these people lye but they oblige to keep my account and my money inactive for more than 48h. loosing trade opportunities being totally unable to give a clearer deadline of execution than "as soon as possible". Reminds me of alcoholics promissing they stop drinking today!

Xemarkets mention on its website thta withdrawal requests are processes within 24h. delay: BS. That client funds are held n prime international banks: not sure but facts lead me to think: BS!
So Mrs. Carol P. what can you tell us about this please?
Scam or not?

Rebuttal: Added by Chris A. Zacharia on 2013-03-22
Dear Philippe D,

Our backoffice desks has confirmed that “Your withdrawal has been processed already since 21/3/2012.” and you have been informed about this by email.

Its truly not appreciated coming to a site like the FPA posting words like MEGA B...S....! and scam or not?

The support desk has provided you with an honest answer claiming that the backoffice desk was overloaded at the time and they were trying their best to put your withdrawal request in priority que.

Please have the fairness of following up on the FPA with a confirmation that your withdraw has been received.

Thank you,

Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).
Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).,
Limassol, Cyprus,
Feb 14, 2013,

Dear Pramod Sangwan,

It is not fair to be blaming a licensed and regulated forex broker for your actions.

Kindly note that you have abused the promotion bonus and as such XEMarkets reserves the right, at its sole discretion, to deny, withhold or withdraw the 100% Bonus Promotion, either temporarily or permanently, or terminate your access to the service/and or block your account. This is clearly stated in the terms and conditions of our 100% Bonus.

Thank you

Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).
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,
Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd),
Limassol, Cyprus,
Feb 14, 2013,

Dear Str,

As mentioned in our terms and conditions, when XEMarkets suspects that a participant has abused the fair rules of the bonus we will follow by a complex investigation that we can’t disclose. This is a procedure that we undergo in accordance to our terms.

We always advice our clients to read the Terms and Conditions before opting to any promotion we offer. When clients apply for the promotion, then it is an indication for XEMarkets that they have approved the legal Terms and Conditions of the particular offer.

Thank you

Carol P. - Official Representative XEMarkets - Trading Point of Financial Instruments Ltd.
Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).,
Limassol, Cyprus,
Mar 7, 2013,

Dear Ndk,

Kindly note that you have requested 3 withdrawals on the 5th of March 2013 and they have been processed within 2 hours when our policy states that withdrawals via credit cards will be processed within 24 hours. However, kindly be aware that since your credit card does not belong to the CFT program, XEMarkets could not process withdrawal amounts that exceed the initial deposit (3rd request). In that case you will receive the excess amount by wire transfer.

As a result we have contacted you to choose an alternative method. You have done that on 6th of March evening time. We have processed your payment in the morning of 7th March within 18 hours of your request, which is less than the 24 hours. However, we would like to bring to your attention that we process your payment within 24 hours and you will receive the funds to your account within 3-5 business days. This is clearly stated on our website.

XEMarkets have processed all your requests within the time frame, therefore posting a comment on the forum requesting your withdrawal was not necessary especially when you have received full cooperation and explanation from our team.

Thank you

Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).
Chris Zacharia,
Cyprus, Cyprus,
Nov 28, 2011,

Dear User with Nickname Stay Away from Bellevue, USA,

As noted in all our answers, we have a policy to answer and cater all reviews on a one on one basis. You have posted a review and recommendation to fellow traders to take their Cash and Run; if you feel you would like to act in the same transparent manner in which both this website and Trading Point does it would be much more transparent and ethical to tell us what the particular problem you faced was and what and moreover what your account number is in order to make your statement valid and accurate.

Making a nasty statement with no supporting data is both unfair to the broker and moreover not very transparent as although you MIGHT be a real trader we do not have any facts or details of account number in order to first understand how we can help you if there is really a problem and secondly cater to this issue and preferably provide you feedback if your statement is valid.

We will expect your follow up to take further action.

Chris A. Zacharia – Official Representative of Trading Point of Financial Instruments Ltd.
Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).,
Limassol, Cyprus,
Apr 2, 2013,

Dear Ece G,

Kindly note that XEMarkets has the right to reverse the granted deposit bonus from client’s trading accounts irrespective of incurred profits or losses.

Furthermore, if XEMarkets suspects that a Client has abused the fair rules of the 100% Bonus or any other promotion by hedging his positions internally (using other trading accounts held with XEMarkets or externally (using other trading accounts held with other brokers), XEMarkets reserves the right to immediately reverse the granted deposit bonus from the Client’s trading account(s) or from the winning hedged account without the consent of the Client.

The terms and conditions of every promotion XEMarkets offers are transparently printed on our website which we advise our clients to read before opting in. You have accepted the terms and conditions of the bonus which clearly state that any form of abuse will lead to the removal of the bonus.

It is unprofessional to be calling a reputable company a scam when the reason behind the withholding of your bonus is due to your trading pattern which was fully explained to you. Kindly note however that you can still continue your trade without the use of the bonus.

Thank you

Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).
Singapore, Singapore,
May 13, 2018,

Nonsense registration question

Registration so troublesome imagine when come to withdrawal can be more worst.Try to register and it inquires alot of nonsense ex. Salary,education bla bla bla... thats had nothing to do with trading
Reply by Chris Zacharia submitted May 15, 2018:
Dear Dion.

Being a multi-regulated broker like XM, requires that you follow guidelines set out by regulators which include "knowing your client" and making sure a potential client is fit to be able to open an account.

Asking questions which are intended to ensure that your potential client is suitable to trade CFD's is a pre-requisite from any licensed brokerage.

Having said the above, your comment about withdrawing funds is totally INVALID.

If a client registers an account and he is marked as fit and proper to be trading CFDs and he provides documents to validate his account he can from that point on deposit, trade and withdraw seamlessly.

Thank you,

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.