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.

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

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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
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Traders Reviews

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,
Pretoria, South Africa,
Jan 11, 2019,
Registered user

Please solve this issue

My account 4531246 made a withdrawal yesterday even now I’m still waiting what might be the problem 24 hours is long gone and how am I going to trust you with my money guys,Please don’t make us angry Solve this issue
 
Reply by Chris Zacharia submitted Jan 17, 2019:
Dear Itumeleng 85,

I can confirm that your withdrawal request was processed within 30 minutes.

Please note that certain withdrawal methods are not instant and it may take some time for you to receive your funds.

Kind regards,
mumbai, India,
Jan 10, 2019,
Registered user

dont like this broker

this review is only for experienced traders especially for those who like hedging n scalping .. my ac no 12065884 .. there was total 308$ bal n there was a hedge trade open with 12 $ equity bal left .. since it quiet late in the night n i had i hedged the trade so i thought i will add funds next morning as everyone who hedge's knows that it freezes the ac .,, there shld enough bal only when u close one of the hedged trade .. the nex morning to my shock there was stop out on my hedge trade and they wiped my enitre ac
there was no loss .. it was hedge trade .. how i can have profit or loss on same lot size , same pair , same ac, n that to a swap free ac?how can there be a stop out on a hedge trade?
the support are just asking me check the ac history and tax report but they are not ready answer my question

"how i can have profit or loss on same lot size , same pair , same swap free ac?how can there be a stop out on a hedge trade? .. " they said your ac manager will call u n explain but nobody called.. i guess they dont have a reasonable explanation to give
I guess they have done some tweaking in the margin requirement or something which they are not ready discuss .. this is pure cheating ..they cant change things according to there own convenience without informing the client about it ..
so if you like hedging stay from this broker .. also last time when i was trading few months back with them .. they used to freeze(couldnt place or close order) the platform during major news event n high volatility .
also they have set the minimum points for placing take profits n stop loss at 4pips for eur/usd n same calculation for other currency as well .. dont know if they allowed to do so .. so if you are planning to scalp do keep this in mind
on top that they are racist ,, they dont offer no deposit to indians and other Asian countries .. in short avoid this broker as far as possible n do test your strategy on demo ac first with any other broker u choose n if u r going directly for a real ac deposit only 100 or 200$ ,, test them out by trading in small lot size n request for withdrawal asap .. if everything only then go ahead with full amt .. thanks
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Jan 17, 2019:
Dear rakesh m,

I am sorry to hear that you have posted such a comment without knowing the subject well. I understand that your review can mislead other traders just because of you trying to misinform them for some reason.

Fully hedged position can be stopped out if you do not have enough of free margin in your account and at the same times spreads get wider and/or swap is deducted from your account. Of course, it is very safe to hedge your trades if you have the sufficient funds to endure rare spread widening and/or swap.

The company offers different promotions in different regions and this is a part of our marketing efforts. Calling the company racist because you did not get what you want is very wrong.

If you want to receive more information as to what happened to your trades that got stopped out, please, reply with order numbers of trades in question here on FPA or by sending an email to customer support or to your personal Account Manager.

Kind regards,
Skye,
Brunei Darussalam,
Jan 9, 2019,
Guest

On jan 5th 2019

My trading was automatically closed and the profit got credit out which i personally didnt withdraw.

Please solve or explain this
account no: 42012509
 
Reply by Chris Zacharia submitted Jan 10, 2019:
Dear Skye,

If you are talking about trades that were closed on 03.10.2019, please note that these trades were closed due to the stop-out.

The stop-out level refers to the equity level at which your open positions get automatically closed. For XM trading accounts held by retail clients the stop-out level is 20%.

Kind regards,
Firdaus,
Kuala Lumpur, Malaysia,
Jan 3, 2019,
Guest

To XM Management: Do resolve my issue as soon as possible as this is my 1st time with ur broker and this issue regards to depository error shouldn

This is for account #42078147. I have deposited 2,371.03USD twice and from my bank side its shows both of the transaction was successful. I contact the live agent and they told me they only receive once and they ask me to refer again to my bank. I was told from my bank side that the company registered is under the same bank and based from their checking the transaction was credited into the company account and request for XM to check again and the Live agent named Zhafrul told me that my issue will be resolved for 24 hours . But until now its already more than 24hours i did not receive any replies and when i try to contact again the agent ,they ask me to send again the proof of payment by email which i did send earlier to Sufi and now they ask me to wait another 24 hours. This is my 1st terrible experience with customer service and my 1st time encounter issues with this broker. Right now im so disappointed for leaving my old broker which they manage to withdraw full amount of cash within 30 Minutes but XM dont give me any response to this eventhough i deposit a huge amt. I also request for account manager to call me back but until now i dont receive any calls from them. This is unacceptable.
 
Reply by Chris Zacharia submitted Jan 7, 2019:
Dear Firdaus,

I am sorry to hear that you are having an issue with your deposit.

I have contacted our BackOffice department and I can confirm that funds that you deposited were credited to your account on 03.01.2019. I kindly ask you to review your account one more time to confirm that one of your deposits has not been credit to your trading account.

If you believe that not all of your deposits have been credited, please, contact your Account Manager or BackOffice department as soon as possible.

Kind regards,
Jimmy,
Philippines,
Dec 7, 2018,
Guest

XM is for IntroDay and Day Traders Only!

I'm giving XM 3 stars because I don't like three features that I came across. Would have given 5 if it weren't for these three.

Issue #1. The spread is quite wide compared to other brokers that I've trade with. I did a comparison it's like 2 to 3 times wider. Even on major pairs. I haven't seen a spread as low as "Zero" like they advertised on their site.

Issue #2. In one occasion I left my trades over night to the next day and the swap charge was 19TIMES my initial lot for one pair while other pairs was around 2.5times my initial lot. Good thing it was a small lot.

Issue #3. There are times I left my trade over night and without SL but this time I did with a good 30pips SL from current price. Once it hit 00:00UTC I went to go check on the chart, the spread asking price jump so high close to 40pips and knock out my trades that I put SL on it.

In conclusion: in XM don't leave your chart open over night, close it every end of day and if you do make sure you dont put SL or make sure your SL is at least 50pips from current price. Xm seems to be Good for introday and day traders.
And for those that complain about their TP not being reach that's because XM spreads is so wide apart you will have to put your TP 5-10pips in from your initial TP.
  1 trader has found this review helpful
Davao, Philippines,
Dec 6, 2018,
Registered user

I have problem in withdrawal

Mam I withdrawal 508 USD , xm approved on Nov 29 but I didn't receive my money can u check my account otherwise can u provide me a ARN number
 
Reply by Chris Zacharia submitted Dec 11, 2018:
Dear Kaba007,

If you wish to receive an ARN number of your withdrawal transaction, I kindly ask you to contact your personal account manager or send an email directly to the BackOffice Department at backoffice@xm.com.

Kind regards,
Brebes 52273, Indonesia,
Nov 25, 2018,
Registered user

Recomended broker

as long as I became a client xm I have never encountered problems like failed wd.
Xm is good broker
 
meknes, Morocco,
Nov 22, 2018,
Registered user

scame brockre alert

XM Is a market maker type .sometime they trick clients by cancelling trade or making fake candle to lose your money .plzz stop puting your money with those brocker that provide you bonus .always search ecn or stp type brockers
best regard
  1 trader has found this review helpful
Iraq,
Nov 21, 2018,
Registered user

This is the broker I dont want to leave , the speed of processing orders is the fastest i have experienced ever!
 

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.