XM Review

3.004 · 620 REVIEWS

Trading Point of Financial Instruments

Updated: Oct 24, 2020 · 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 cryptocurrencies, 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.

XM.com is part of Trading Point of Financial Instruments UK Limited group. Members of this group include Trading.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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3.004 · 620 REVIEWS
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Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

Harare, Zimbabwe,
Sep 11, 2020,
Registered user

VERY TERRIBLE experience with XM in less then 2 months

Service use: Live

Length of use: 0-3 Months

I just received an email stating that they are closing my account due to my trading patterns and bonus arbitrage reasons I don't find credible .Suppose I made an error somewhere atleast they should have given me a warning not to close my account permanently just like that.
Below is the email I just received
Dear Sir/Madam,

We are writing to you regarding your account(s) no. ////(hereinafter “your Account(s)”) held with our Company.

Pursuant to our Terms and Conditions of Business, please consider this email as our official notice for the termination of our business relationship. Please note that your trading account will be temporarily suspended for the next seven (7) calendar days and then permanently disabled.

Accordingly, we regret to inform you that in accordance with our Terms and Conditions of Business, it has been decided, with immediate effect to (i) close your account(s) with our Company and/or with any sister companies,

In view of the above, please note that you will be strictly prohibited from opening any new trading accounts and trade with our Company and/or with its sister companies. Nonetheless, in cases where you may successfully open an account and trade with our Company or its sister companies, due to any technical and/or human error, we reserve every right to immediately close your account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges, back to the same source initially used to fund your account.

Please note that our decision is final and binding on all participants and that, other than the notification set forth herein, no further correspondence will be entered into.

Kind Regards

XM Team
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear LeeRu,

In order for me to be in position to assist you, I need to be provided with your account number.

Thank you,
Makti, Philippines,
Sep 10, 2020,
Registered user


Service use: Live

Length of use: 0-3 Months

I initiated a withdrawal last Aug 16 via debit card and its been 19 banking days already! The processing is only 2-5 banking days maximum!

When I confirmed with them they provided me with ARN number for the transaction so I got in touch with my bank's main office to check with them but they couldn't find any transactions meant for my debit card for the withdrawal that is meant to be credited to my account!

They kept asking me for bank documents which I already provided but they want more with debit card numbers linked to my account number and all! I just don't understand why they won't start further investigation from their end from a very frustrated client. It's not like I am asking them to bank-wire me the amount immediately! I just wanted for them to further investigate what happened to my funds! But they refuse to do so!

I am keeping this rating as it is until someone from XM reaches out to me and help me resolve my concern. What is frustrating for me even more is I have bigger funds up for withdrawal but I cannot do that just yet because of this failure and lost funds! And they still refuse me to allow bank transfer as an alternative method even though my initial withdrawal has been a complete failure!

Someone get in touch with me pleaseeeeeeeeeeeeeee.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear ForexBunnyPh,

In order for me to fully investigate the issue I need to be provided with your account number.

Thank you,
missiones, Argentina,
Sep 7, 2020,
Registered user


Service use: Live

Length of use: over 1 Year

I am very surprised to read bad reviews over this company , most of them seems to be from newbies who get caught by spread widening at 00h00 , others from people trying to get some money after abusing bonus scheme .

I trade with them for more than one year and it had been a smooth expereince
trading conditions are very good with "ultra low ac" , spread on XAU is the best with 23p commission included /
I made numerous deposits and withdraws and never had any problem , its fast and secure .
  2 traders have found this review helpful
South Africa, South Africa,
Sep 7, 2020,

The quote price

Service use: Live

Length of use: over 1 Year

XM quote price for pending orders is different to a fulfilled order same currency pair same direction e.g buy, how is that possible?
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Pam,

Please provide me with more details in relation to the issue such as your account number, order number, data and time, etc.

In that way, I will be able to provide you with an accurate response.

Thank you,
Johannesburg, South Africa,
Sep 3, 2020,
Registered user


Service use: Live

Length of use: 0-3 Months

I was long on EURAUD on H4 time frame 2020/09/01, my stop loss was in a safe distance from the bottom below where the price formed a W, then around 00:00 September 2 2020, all of a sudden a candle with a long wick spiked down taking me out! I checked EURAUD on other brokers on the same time frame and there was NO such spike down! STAY AWAY FROM THIS SCAM BROKER! I have the screenshots.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Sandule,

I have reviewed the issue raised and I can confirm that your orders under question have been correctly executed at a price different from your requested Stop Loss price due to slippage.

Particularly, due to the market conditions at the timeframe under question (i.e., low liquidity during midnight), the market was very volatile, and your requested Stop Loss price was not quoted (i.e., due to the price gap). Thus, it was not possible to execute your orders at the requested Sell Stop price (i.e., 1.61332) and the orders were executed at the next available price, as quoted on our Online Trading Facility (i.e., 1.6125 and 1.61253).

It is unfortunate that such market movement was unfavorable to your trades; however, please note that our Company cannot be held liable for any losses incurred due to any market movements. In addition, kindly note that under Section 3 “Volatility of price and limitation on available market” of our “Risk Disclosure” it is stated that: “Under certain market conditions it can be impossible to execute any type of Clients order at declared price. Therefore, Stop Loss order cannot guarantee the limit of loss.”. You may find the aforesaid document at the following link: https://www.xm.com/assets/pdf/new/docs/XMGlobal-Risk-Disclosures-for-Financial-Instruments.pdf for your ease of reference.

I hope that the above information explains what has occurred, and I would like to assure you that it is not our wish to trouble our clients.

Thank you,
Johannesburg, South Africa,
Sep 1, 2020,
Registered user

Horrible Experience - Scammers

Service use: Live

Length of use: 0-3 Months

Important Notice
Dear Valued Client,

We are contacting you with reference to your account(s) no. 38363704,61095271,57066515,45245150,38275078 (“Your Account(s)”) held with our Company.

The trading patterns in your Account(s) raise serious concerns regarding the trading bonuses credited to your Account(s) by the Company, since these were used for ‘cash-back arbitrage’ activities.

Pursuant to the Terms and Conditions applicable to our trading bonuses, the following are qualified as "cash-back arbitrage" activities:
Any form of arbitrage trading
Bonuses claimed by multiple Accounts that were registered from the same IP address
Various practices of bonus manipulation
Breach of any points included in our bonus Terms and Conditions
Any fraudulent activities, disputes or situations that our Company considers as fraudulent.

In view of the fact that the trading patterns in your Account(s) do not comply with the Terms and Conditions of the respective trading bonus scheme, we regret to inform you that any trading bonuses previously granted to your Account(s) have been deducted with immediate effect and your Account(s) is/are no longer eligible to participate in any trading bonus schemes in future.

Kindly note that our decision in this matter shall be regarded as final and binding on all participants and that, other than the notification set forth herein, there will be no further correspondence on this matter.


1.i just would like clarity on how possible this is,....
2.i have been trading with Xm for two months with no issue, why are there problems now that im being profitable
3. i scalp the market and withdraw daily, not once have i ever utilized your bonus in any way . just because im given the bonus does not mean i utilize it..so which rule have i breached
4. you say that all trading bonuses granted to my accounts have been deducted, under what circumstance? you make it seem like i made profits through your bonus of which isn't the case at all,, and even if, what would the issue be in that regards
5 What is the meaning of Arbitrage in your understanding and how possible is it that i have defrauded the bonus Terms and Conditions
6. is it possible to withdraw the bonus if i may ask and why are my funds being deducted


Fore those who will be continuing using XM all the best
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Hleki,

I have reviewed the issue raised and I can confirm that it was correctly decided to remove any bonuses from your trading accounts.

Particularly, please note that the trading patterns in your trading accounts raised serious concerns that the credit bonuses have been used in an abusive manner (i.e., “cash-back arbitrage” activities). At this point, I would like to stress the fact that according to Section D.7 of the Terms and Conditions of our Deposit Trading Bonus offering, our Company reserves the right to discontinue offering the “Deposit Trading Bonus” at any time. I quote the aforesaid clause below for your reference:

“The Company reserves the right, at its reasonable discretion, to discontinue offering of this “Deposit Trading Bonus Program” to any of its clients, without having to explain the reasons. Such clients will be informed via email.”

In view of the above, I can further confirm that you were accurately informed of the above by the relevant Department of our Company via email.

In conclusion, I would like to stress the fact that any actions taken by the Company in relation to this matter were fully in line with our Client - Company agreement which governs our business relationship, as well as with the Terms and Conditions of the Deposit Trading Bonus Program.

Thank you,
Province of Sofala, Mozambique,
Aug 28, 2020,
Registered user

A description of my wonderful experience with the brokerage XM

Service use: Live

Length of use: 3-6 Months

XM has been an exceptional broker for me, through it I and other traders believe I have room to gain more experience in the financial market. Great broker for those who want to trade in Forex.
Australia, Australia,
Aug 19, 2020,
Registered user

The account keep Clarification

Service use: Live

Length of use: 0-3 Months

I send the official real document to open my account
And I deposit the money in
Then they said I need to proved the address
Which I did and I did 5 ;time ! I send the official bank statement 6months one PDF and then waiting for a day and shows Clarification needed
This issue have been run again and again 4times
I send the email I Chet online stuff
No one want to explain and teach me how to do it
They always asked me waiting for department which in 24hours
Ok fine
I wait and one day one email and fix nothing
The customer service Cannot support customer
Make Clint worry and loss time
Now is already 5days and my account hasn’t been done !
Be careful this broker !
The service is really really bad
  3 traders have found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Jade10,

I have fully investigated the issue raised and I can confirm that your trading account under question was correctly not validated due to the fact that you had already had another real trading account with another company of our Group which was registered under a different Country.

More specifically, you submitted an application to open a real trading account and used a different country of residency than the one used in your previous, and still active, trading account. Please note that the latter cannot be accepted by our Company and therefore, your new trading account was not validated.

Further to the above, we can confirm that you had deposited funds in your trading account prior to its validation and few days after the opening of the account you requested to withdraw the said funds. Kindly note that as soon as the relevant Department of our Company was informed of your request, all necessary actions were taken in order for the relevant funds to be refunded.

In view of the above, I can confirm that any actions taken in relation to the subject matter were fully in line with our Terms and Conditions of Business.

Thank you,
Nigeria, Nigeria,
Aug 16, 2020,
Registered user

I haven't had any issue with XM services

Length of use: 0-3 Months

Am shocked to hear certain issues about XM and kinda wondering if it's the same company I registered with, traded for while and made withdrawal without any issue before I went on a sabbatical break. Am really shocked to hear all this... For XM is a good broker
  1 trader has found this review helpful
Beirut, Lebanon,
Aug 15, 2020,
Registered user

Very Bad broker Bad Execution Hates profitable traders

Service use: Live

Length of use: 0-3 Months

XM Very bad broker!!! XM executed my orders at different latter times than market price reach it which resulted in my loss.
I sent them logfiles to see my pending orders price were set before market price reached it first time but XM executed it later!!
For full 2 weeks XM didn't reply to my emails that were complaints of their failure system regarding those orders, then random emails arrived from random XM representative with nonsense excuses then lastly they sent me a link to their execution policy that they hide behind to cheat clients by executing their orders at times XM want!!!

Lastly, I had a pending buy order to be executed EURCHF 1.0743, XM executed it 1.07445 at 00.00 time!!! then they closed it at a loss 1.0744 despite my take profit was 1.07475 & market price reached 1.07482 but XM closed it at loss 1.0744!!

XM representative excuses were:

"Ok, i can see this order. You were having a lost. Remember that XM protects you with "Negative balance"
Then this: "XM protects your account with negative balance. You cannot lose more money than you deposited.
You had a lost."
Then this: "You cannot lose more money than you deposited."
Then this: "We cannot reimburse your loss, cause it closed at a profitable price, you were having a loss of -1.1"(Actually I lost 1.1 instead of profiting 10$)
Then this: "Let me explain you again. Your order was closed because you were having a loss."

CAN YOU BELIEVE THIS NONSENSE!!?? My order was floating at few dollars loss so XM closed it!!! KNOWING that there was no margin call or level or whatever affected in anyway!!!
But XM employees insisted on their ignorance!

XM SCAM broker is amateur manipulator cheater..XM never reply professionally to your email that proves XM faults/cheats!
That clearly proves that XM is a liar/manipulator or/& really very IGNORANT
If you are a profitable trader, XM plays dirty!
I doubled my account in 2 months then XM started cheating with many fake bad executions
Stay away of XM SCAM BROKER!!!
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Ed Forex,

In order for me to be in position to fully assist you, please provide me with your account number and the order under question.

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.