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.

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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3.023 · 633 REVIEWS
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Traders Reviews

Yavuz,
Istanbul, Turkey,
Apr 16, 2019,
Guest

Deposit

My id (4493733) and i cant deposit my account .when i emailed nobody took care of me. I still can not deposit my account.
 
Reply by Chris Zacharia submitted Apr 19, 2019:
Dear Yavuz,

I am sorry to hear that you are experiencing a problem to fund your trading account.

As I can see from your account history, you were able to successfully make a deposit several days ago.

I will ask your personal account manager to contact you in order to help you to make a deposit as soon as possible. Alternatively, you can contact our customer support team and I can assure that they will be able to solve this problem.

Kind regards,
Vivek,
Melbourne, Australia,
Apr 12, 2019,
Guest

My account id 4633302 and i request for withdraw and still waiting for last two days and i called so many times and send mail as well but no solving the problem
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Apr 15, 2019:
Dear Vivek,

I kindly ask you to contact your personal account manager or request a call back as soon as possible.

I can assure you that when you do speak with your account manager over the phone, your withdrawal request will be processed shortly.

Kind regards,
Brazil,
Apr 10, 2019,
Registered user

Great broker! I am a customer of Xm in Brazil, I am satisfied with the competence and honesty, effective customer service, fast withdrawals! Congratulations. Account: 43011503 -Xm Overall Real 33

Ótima corretora! Sou cliente da Xm no Brasil, estou satisfeito com a competência e honestidade , atendimento ao cliente eficaz, saques rápidos! Parabéns. Conta: 43011503 -Xm global Real 33
 
Spain,
Apr 9, 2019,
Registered user

I made a deposit of € 10 and withdrew immediately afterwards to verify that it worked and I had no problem, a few days later I tried to make another larger deposit and it did not leave me, I contacted the team and they did not tell me . After talking to the bank and after a long period of observation, they did not know exactly what was happening, and they told me that most likely the bank system was blocking me because I detected fraudulent evidence of xm.
 
Reply by Chris Zacharia submitted Apr 15, 2019:
Dear cudado,

I kindly ask you to share your account number so I could investigate your claims and make sure you are able to fund your trading account whenever you wish to.

At the moment I can advise you use alternative payment methods that XM is offering in order to fund your account and/or withdraw funds.

Kind regards,
Qalyubia, Egypt,
Apr 6, 2019,
Registered user

xm take my profits

I Deposited: 300 $ 4-4-2019 23:32:52
I make order buy eurusdmicro lot 50.00 5-4-2019 02:19:20
i end this order 5-4-2019 16:00:44
my profit is 69 : 50 $
xm is canceled my profit and send me message to terminate business relationship with me because i use bonus.
i do not use any bonus.
you can see this
my account number: 46026512
Password: Ahmed123456
Server: XMGlobal-Real 36
 
Reply by Chris Zacharia submitted Apr 8, 2019:
Dear forextreader2020,

You have violated the rules that you accepted when opening account with XM and, therefore, your account got terminated and may no longer trade with XM.

Please note that the money you have deposited with XM will be returned to you in full as your withdrawal request is completed.

Kind regards,
South Africa,
Mar 18, 2019,
Registered user

On my account 2722101 I made a deposit of 5 USD and then profit of 25.58 usd and after trading with a friend of mine on hotspot everything was fine because there wasn't no internet connection I made a withdrawal of a total 30.58 it wasn't processed and all my profits were taken from me and this is the first I've heard of a broker taking clients profits and saying its because of fraudulent activities
 
Reply by Chris Zacharia submitted Apr 8, 2019:
Dear Puleng,

I believe that you are well aware that performing opposite trades with a sole purpose of gaining unfair advantage is strictly prohibited by XM. In other, words you were trying to abuse companies favorable trading conditions and gain unfair profit.

The above is the sole purpose why your account got blocked and will remain blocked indeterminately.

Kind regards,
Vrededrop, South Africa,
Mar 14, 2019,
Registered user

I requested for withdrawal after making profits from the no deposit bonus now it is 26 hours. My withdrawal is still pending and I am being told to wait for a call for verifications if I am not mistaken. I am asking myself why they say withdrawals will be processed within 24 hours than they cannot live to their promise of terms and conditions
 
Reply by Chris Zacharia submitted Apr 8, 2019:
Dear moea lebohang,

On rare occasions withdrawals of funds from No Deposit Bonus accounts require additional verification in for us to verify client's identity. Therefore, I kindly ask you to speak with your Personal Account Manager via phone and when it has been done, I can assure that your withdrawal request will be processed in no time.

Kind regards,
Hawaii, USA,
Mar 4, 2019,
Registered user

XM is bogus broker.

My account number:
I trade and earn profit as 156$. Then I request 15$ from my profit. But xm team cancelled my all frofit and credit to zero. I don't know why is it. XM is Bogus broker. Don't deposit your money in XM. Very very bad broker.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Apr 8, 2019:
Dear SadunKumara,

It is not possible to have your profit cancelled when you are trading with XM. You have not shared your account number but the only reason for this kind of a situation to happen is that you have seriously violated XM's Trading Conditions by gaining profit unfairly.

In order for me to provide more details and explain the situation better, I kindly ask you to share your account details.

Kind regards,
Cape Town, South Africa,
Feb 22, 2019,
Registered user

Leverage reduced straight after i made a good trade

Hi Guys

XM Account number -2738249

I had no other alternative but to come here as XM is not communicating to me regarding my account

So after i successfully made a good trade on the AUD - Employment Change , i have made decent profits and right after i traded this news released i got a email saying that they reduced my leverage which i did not agree on and they did this because they saw i was making money . They reduced my leverage to 1:100 which is useless to me and i have been on multi XM chats and i feel like they are just ignoring me. After i questioned it, there since as been no emails/No communication send to me regarding this matter only the same stupid email saying that they reduced my leverage.

I have came to a point where i requested to withdraw all of my money and use another broker ! this broker is not recommended in my view and i used to love working with them but after this i am done .

I would love to hear the story that XM will come up after this i am waiting .

Thanks
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Feb 26, 2019:
Dear Gada Cane,

I am sorry to hear that you are thinking to stop trading with XM.

I would like to stress out that if you wish to continue trading with XM, you are more than welcome to do so and to enjoy all benefits that XM is offering. However, at the moment the maximum leverage we can offer you is 1:100. It has been restricted to 1:100 because of our risk management procedures but this decision may be reviewed in the future.

Kind regards,
Johannesburg, South Africa,
Feb 19, 2019,
Registered user

Still don't know problem and they haven't updated me since

I have deposited money of 1000USD and traded and made an additional of 1300USD after requesting a withdrawal they said my funds couldn't be processed, my account was under investigation and the investigation would take 24 hours it has been over a month I haven't received my funds I only managed to fight for my initial deposit that took them two weeks to reimburse

More. Community discussion of this issue >>

 
Reply by Chris Zacharia submitted Feb 26, 2019:
Dear Milly2000,

We have replied to your questions on the community discussion thread you have opened here on the Forex Peace Army at this link https://www.forexpeacearmy.com/community/threads/xm-global-not-complying-to-their-regulations.59194/page-2

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.
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.