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.


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

Feb 11, 2019,

Karma is boomerang

I am from India . I have done deposit of 200$ and I chose to withdraw via my card.... They given ARn number and while I ask my bank they say we don't recognize this... Xm wants my bank to give arn number is not recognizable... But my bank says we only give bank statement for credit and debit of amounts... Xm says they will not give their bank statement for proof of debit... I can trust my bank but never xm.... They say it is not their problem...
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Feb 13, 2019:
Dear Mani

I am sorry to hear that you have a problem locating your funds and I can assure that XM will do everything possible for you to solve this problem.

In order for XM to help you, I kindly ask you to contact our Backoffice Department or your Personal Account manager. Alternatively, you can share your account number here, on Forex Peace Army, and I will make sure that the company will get in touch with regarding this matter.

Kind regards,
Maracaibo, Venezuela,
Feb 7, 2019,
Registered user


My account it's 42120458 and IT'S MY ONLY ACCOUNT. This isn't my first time with a broker, but yes with one that lie in order to keep with your earnings.

They take my profits, lie, creating fake excuses and still ask me to "reconsider" keep doing business with them. I'ts just enough to see how many of reviews are about how dishonest and liers they are, 'cause are an abusing broker.

Jan 31, 2019 - 1 Star FRAUDULENT AND SCAM BROKER. My account is 42120458, I open an account with them, and start to trading. After I made 60$ with them, I wanted to withdraw my money and they REFUSE to pay my HARD earning money. Yes, HARD EARNING, its keep me a few days to earn that money and they reduced to zero my earning. The are the most dishonest broker that I haven seen. They acuse me of broking rule of more than one account directly or indirectly associated by me. Which it's FAKE, and I asked to PROOF and I sent my IP ADDRESS to CONFIRM MY DIRECTION, and received my money.

Definitely are the WORST BROKER YOU CAN TRY. You are losing your money, time and PACIENCE.

Reply by Chris Zacharia submitted Feb 5, 2019 Dear wilmercaneloon,

First of all, we consider it unacceptable to be labelling XM a " FRAUDULENT AND SCAM BROKER" when the real reason you have been blocked is because you have been opening multiple accounts in order to claim the No Deposit Bonus.

Attempting to claim a promotion on false pretenses more than once by is strictly prohibited and if such activity is detected, bonus and profit/loss are nullified.

Kind regards,
Reply by Chris Zacharia submitted Feb 13, 2019:
Dear wilmercaneloon,

Our Anti-Fraud Department was able to detect that your account is related to dozens of other clients that recently received the No Deposit Bonus and were able to test XM services and withdraw their funds.

Please note that opening multiple trading accounts with a sole purpose of receiving the No Deposit Bonus is strictly prohibited and may lead to account close and/or removal of the bonus received.

Kind regards,
singapore, Singapore,
Feb 1, 2019,
Registered user

This exchange lacks integrity and is sub par compared to other exchanges. I follow a signal group, this means that many people and I follow the same limit order, stop loss and take profit. However, whilst everyone else reached TP, mine had hit a SL. My TP had not triggered despite everyone else's having triggered which I felt was very unfair. The exchange shouldn't give excuses such as "orders may or may not be executed" to protect themselves. Instead, they should do everything they can to ensure transparency to its customers. So when a trade REACHES TAKE PROFIT, it should be fulfilled. Because everyone's goal is to make money but if an exchange such as XM cannot promise the fulfilment of a take profit then

1) what's the point of a take profit
2) why should one use XM
3) XM is not to be trusted

Moreover, I feel that it is an exchange's responsibility to uphold these orders and should they not be able to, customers should be reimbursed since we are already paying the spread when a trade is executed. Thus, there is no need for other shady methods of earning from their customers through the compromise of their profits.

Also, I've used this exchange only for a week and already I've faced such a problem. Guys, don't be fooled by the credits that they're offering to lure you into trading with them it's definitely worked for me and now I'm the one with the shorter end of the stick.

Finally, when I had spoken to customer service, I was given generic replies and just felt like they weren't listening to their customers. They were clearly not trying to solve my problem but give me ambiguous replies to try shrug me away from pursuing this further.

Thankfully for me, I had only played with a small amount of money to test the exchange. What's been clearly been shown in the graph that my take profit had hit but not executed angered me as it showed how dishonest this company is. So they take commission from both the spread and the loss of people's investments. I would like to get my money back.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Feb 5, 2019:
Dear heeyane,

In order for us to be able to transparently investigate your case please provide us the account number(s) and we will follow up with our findings.

Kind regards,
free state, South Africa,
Jan 29, 2019,
Registered user

scammers profits withheld and stolen

un-trustworthy , and not transparent, i deposited 12$ made 15$ in 2 days, withdrew 27$ excluding the 6$ credit with a net equity of 33$, they charged me an exchange rate of R14.5 and paid me exchange rate of R13 on my deposit only no profits were paid out. Scammers!!!!!!!!!!
Reply by Chris Zacharia submitted Jan 31, 2019:
Dear trader305,

Please share your account number. Without it, it is impressible to investigate your claim and to ensure that it is resolved in the best possible manner.

Knowing that you were charged the rate you mentioned, I can only confirm that we do you use multiple payment processors but rand-usd exchange rates that can be charged upon deposit or withdrawal may vary and these rates do not depend on XM.

Kind regards,
Dubai, United Arab Emirates,
Jan 28, 2019,
Registered user

Am not happy with XM, i use to love them

I loved XM until they archived my accounts without notice. I was also Debited 30 USD for the XM debit card, and I never got the card nor a refund. They said the delivery address and the registered address did not match (Can't some relocate to a different country ?). I don't know if they are a scam or not, but am not happy with XM.

I never had withdrawal issues (I loved them for that)

My account numbers are
Reply by Chris Zacharia submitted Jan 31, 2019:
Dear NdubuisiUkwuani,

Archiving of an account happens only for accounts that are not used for more than 90 days.

If your accounts have been archived that means you had inactive accounts with no balance which were kept inactive for more than 90 days. However please note that you are free to open a new account.

Additionally if you require the history of your archived account, we will be more than happy to provide it for you.

Now in regards to your XM debit card: Your comment is not 100% clear. If you have not been delivered your card that means there was some inconsistency in the data you had inputted as a delivery address. If you want this issue escalated please contact your personal account manager and we will be more than happy to assist you.

Kind regards,
Jan 25, 2019,
Registered user

Arrogant broker!!!

My XM account is 4443870,
I used to trade with 1:888 in XM, and in my trading system high leverage is most important, suddenly XM change it to 1:100 and remove option to change the leverage in my account.

And i got this email from XM :

Dear Valued Client,
Further to our risk management procedures, it has been decided that the maximum leverage to be offered to all of your trading accounts will be 1:100.
Further to the above, it was also decided that your trading accounts will not be eligible to our bonus schemes. As such, any credit bonuses granted to your trading accounts will be deducted and your trading accounts will not be eligible to receive any further bonuses in future.
If you have any question or concerns, please do not hesitate to contact us.

I don't understand what's wrong.
Please XM explain to me in detail where i did wrong in my trading way? I've already reply that email twice ask for detail information about that issue and got no answer (Shame on you XM!!that is make me give you a 2 star here). Actually I love trading with XM but the leverage is everything to me. The main reason I've choose XM is because the leverage 1:888, and if i only got 1:100 leverage...i think i have no reason to stay in XM any longer.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Jan 28, 2019:
Dear Andri4fx,

You did absolutely nothing wrong and reduction of the leverage that we can offer you is related to our risk management procedures which are related to the trading patterns of clients. Please note our decision regarding leverage change may be reviewed in the future.

I am sorry for any inconvenience this causes and I hope that you will continue trading with XM.

Kind regards,
Lagos, Nigeria,
Jan 25, 2019,
Registered user

Excellent broker

My name is Emediong Bassey Akpanokoro. I made a complaint about xm clearing my account after i made withdrawal of $50. Just to let the whole forum members know that the issue was fully resolved and i am still in business with xm. XM is an excellent broker. Kindly disregard my previous post. Thank you.

Jan 23, 2019 - 1 Star SCAM BROKER. PLEASE STAY AWAY!!!
I registered for a live trading account on 21/01/2019 and i received the no deposit bonus. I started trading and it was profitable so i made a deposit of $17.54 through perfect money and continued trading. I made a profit of $255. Immediately i requested a withdrawal of $50, my account was wiped to zero, my deposit was not returned back to me. Even if they decided not to pay for whatever reason, what about my deposit. PLEASE STAY AWAY FROM THIS SCAM BROKER!!! My account no is 42120154.
Jan 23, 2019,
Registered user


Xm scammer and thieft the skrill email account that i use to deposited to you is now belonge to third party as you clam when i request for deposite, i will let all trader know about your activities for scamming untill you pay me. I request for withdrawal of 90 GBP from my account in (13152812) to my card they said I can only received 38 GBP and the rest through wallet but to my surprise they send only 38 GBP to my card which I deposit from but I provide them my skill account, and for a week. Now they refuse to pay me and I also use my neteller they also decline it for about 2 week now.
Others I advice you not to deposited to Xm.com again they really scammer now, I contact them on live chat, they told me that I use third party account which is bounce of lie, I have use this skrill account to deposit to them before and I also gave them my neteller, they also deny of paying me. Please if you have fund with them start withdrew it now I advice you trader because I lost my hard earning to them

Nov 29, 2017 - No Rating Xm is now started to scamm, I request for withdrawal of 90 GBP from my account in (13152812) to my card they said I can only received 38 GBP and the rest through wallet but to my surprise they send only 38 GBP to my card which I deposit from but I provide them my skill account, and for a week. Now they refuse to pay me and I also use my neteller they also decline it for about 2 week now.
Others I advice you not to deposited to Xm.com again they really scammer now, I contact them on live chat, they told me that I use third party account which is bounce of lie, I have use this skill account to deposit to them before and I also gave them my neteller, they also deny of paying me. Please if you have fund with them start withdrew it now I advice you trader because I lost my hard earning to them

Reply by Chris Zacharia submitted Dec 4, 2017 As we can see you have requested a withdrawal of 80 GBP and we have sent to you 38 GBP back to your credit card as it was source of deposit.

The remaining amount you can withdraw by e-wallets, you have requested the withdrawal on Neteller and Skrill, but the details such as name and last name of e-wallets account does not match with the data you have provided upon the registration of your trading account, meaning we can not process any withdrawal if e-wallet account does not belong to you.

Since now you have requested a withdrawal on Perfect Money e-wallet, you have been requested to provide a screenshot of your Perfect Money account in order to confirm that it belongs to you.

You have not provided this screenshot yet and that is why your withdrawal has not been processed yet.
Viet Nam,
Jan 14, 2019,
Registered user

Bad spead at midnight

3rd review.
XM is good borker but increased spead at midnight can hit your stoploss at this time. Spead can up to x 15 to 20 time at midnight. Decided to continue evaluating 3-star XM because of this problem. Other issues are very good.

Aug 12, 2017 - 4 Stars I do not understand where the complaints come from. For me 5 years business with them everything is good.
The first is the risk of LR accounts, they have overcome and kept excellent reputation.
Then the crisis at Cyprus, they are still very good and maintain their reputation.
I've seen accounts that deposit $ 2,000 and make a profit and withdraw over $10,000 and continue to trading with them.
You can search this information that I say by searching on the signal providers page and find the XM broker.
The only thing I feel bad about them is the spread. Commissions are also quite high compared to current brokers. However they need to profit from the service provider. So I accepted.

Jan 9, 2017 - 3 Stars Hello,
I use XM from 2013 and stay here anytime . This is two time i try review for this borker. All good. Payment good, support good. But spread too high. Spread from 2013 to 2017 not change. This why i can't give 5 star for them.
gujranwala, Pakistan,
Jan 14, 2019,
Registered user

xm cheater and fraudlent broker

Dear all,
xm.com is very horible and market maker .xm stole ur money and also trade against u after few days ur account will be empty. today 14 jan 2019 he stole all my money as market open i see my account was empty. he is fradulent and thieve broker. i trade with, Gpb/nzd and Gbp/ cad both were at sell position market not went as much high my account will be empty but this fraudlent broker stole my all money i lose 400 usd with bad broker. kindly check carefully my trade high and low and also check account histroy how xm stole my money,
1. Gbp/nzd high 1.88314 but in account history he put high 1.88456
2. Gbp/ cad high 1.70406 but he put high 1.70602 today as market open he stole my money and make my account empty first every day he trade against me beaware this broker. i have taken snapshot but here is no upload document than i will show u this all how he stole money.
Reply by Chris Zacharia submitted Jan 17, 2019:
Dear Rehman323,

I kindly ask you ti share your account number and numbers of trades that you are unhappy with. This way I will be able to investigate your claims and explain you and all other FPA visitors what has really happened.

I am 100% confident that you misunderstood something as our execution is a fully automated procedure and all trades are executed through our liquidity providers.

It is simply not fair to present XM in a negative light and to write a one-star review without giving me a chance to present real facts.

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.