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
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Traders Reviews

, Canada,
Jan 24, 2013,

Here is the latest on my case regarding XEMarkets and the late return of my money.

A few more emails, three phone calls from them and a couple more weeks delay. But I am glad to finally report that my money was received on Jan 11--exactly two months since my first withdrawal.

I don't know for sure if the intent was to scam me initially, but after talking to three men from XEM on the phone, the vibe I got form them was that they were not intending to keep my money. They sounded sincere. There seemed to be some mix up with the bank(s) which they cleared up.

For the delay, they also sent an extra $530 to make up for this problem.

So I guess it would be fair to say that XEMarkets did not scam me out of my account funds. However, I do not understand the lies and slander purpetrated by Chris. This was not neccessary and puts a dark shadow on XEMarkets. For the time he spent 'discrediting the witness', he could have instead, done something to resolve the issue. Very unprofessional and not the correct way to treat a customer with a legitimate complaint.

My other complaints still stand -- high spreads, extremely high swap fees and the bonuses that are just temporary loans which are not withdrawable.

2012-12-19 1 Star 1. You are the ones that have not followed up. It took 5 weeks for you to supply me with the ARN numbers AND I had to demand this information. Sounds like YOU are the ones not co-operating or trying to get this resolved as quickly as possible. (Remember, the first withdrawal was Nov 9 and today is Dec 19)

2. Here is a copy of the email response to your senior account manager's (notice he refers to himself as a senior broker NOT a senior account manager) (Chris's lie number 1) request for banking information:

Adam Kyriakou
Dec 14 (5 days ago)
to me, bcc: Andreas, bcc: chris

Dear sir,

I would like you inform we take issues very seriously with our clients and that this a real screen shot from our payment system i am a senior broker here and want to clarify that the payments were send to you. Please send us the name and telephone number of your bank and will personally contact them.

Please find the requested ARn below:

....(nunbers supplied but not shown in this post)

Kind Regards,

Adam Kyriakou | Business Development Manager | Business Development Department
T: +357 25029900 | F: +357 25820344
E: adam@trading-point.com
Steffan A
to Adam

Dec 14 (5 days ago)

Hello Adam

Thank you for the call but why did it take several emails and 5 weeks to contact me??

The bank is TD Canada Trust
1 250 763 4241

The number for the Visa card is
1 800-983-8472
or collect
1 416 307 7722

So Chris, what is your excuse on this one? Email not working? Went to the spam folder? You liar!

3 You have the nerve to call me fraudulent!? I am the one still waiting for MY money! Send me a copy of that fraudulent report. Watch out people, this guy makes up stuff to make others sound bad and xemarkets sound like they are trying soooo hard and are soooo righteous. What have YOU done other than make up stories to make a good, honest customer/trader sound bad and defend yourself? Where is my money, Chris?

4. You say you received a notification from your PSP that my issuing bank reported me as “fraudulent” and as a licensed company and since you comply with EU regulations regarding fraudulent transactions, you have refunded all remaining transactions directly to my issuing bank and blocked my trading account.

Post the evidence on both of those tales here. Or all will know you lied. Again and again.

You like to sound like you follow the rules, and you say you refunded all remaining transactions (what remaining transactions? Why were some still remaining? Another lie) directly to the issuing bank, then WHERE IS MY MONEY? It still sounds like YOU are the fraudulent ones as I just checked and the money has NOT been deposited back to my card. You lied again.

And as for blocking my account (again you make it sound like you follow the rules and won't put up with 'anything') I sent an email to xemarkets minutes after I closed out the last trade to send me all my money and CLOSE the account. It was not closed or 'blocked' because of any fraud or misrepresentation on my part. Another lie.

5. As for the excessive swap fees that your 'team' 'professionally addressed' (there you go again, sounding sooo good--what team? it takes a team to do this? Really?) you can supply any figures you like to fit your calculations but the FACT of my experience is that your swap fees are much higher than normal. I know that and for you to try to justify it is feable and just makes you and your 'team' look like idiots. I have had other trades for longer at your firm that were nowhere near that rate.

6. The word 'scam' can and will be used right here right now because XEMarkets has scammed me and I am still waiting for my money. The handling of this matter has been slow as if no one cared. XEMarkets is a SCAM AND CHRIS is a SCAM DEFENDER! WHERE IS MY MONEY?

7. You say, 'We are ready to provide you with all relevant correspondents.' (Note-the correct spelling is 'correspondence'). So why haven't you? I have to ask for it? That should have been immediately sent if these were any such serious issues as you alledge. More lies.

8. Why has my bank not contacted me about the fraud that you alledge? Why did they not cancel my credit card? Why have I not been arrested and charged with a crime then? Just lies and more lies, Chris.

Don't bother responding to this Chris. We all, especially myself, have had enough of your lies and I hope people read this and stay away from xemarkets with their high swap fees, high spreads and your attacking of innocent traders with so many lies, when you are the ones in the wrong. Very unprofessional and disgusting! WHERE IS MY MONEY? Just return it and I will post that it has been. Until then I consider xemarkets as a SCAM. Period.

After this pathetic, lie laced response to my complaints against xemarkets I have lowered your rating to


2012-12-17 2 Stars 7 weeks now and I am still waiting for my 2 small withdrawals totaling less than a thousand dollars! I made 250% profit on my account in 4 weeks and finally had enough of their high spreads so decided to close the account. I was told it would be 2-5 business days for the money to show up on my credit card.

Emails have gone to and fro and one of my last emails where I demanded to talk to someone in charge went unanswered for 6 days. I wrote back again angrily and got a reply the next day from Adam who said he was the head trader there. I am not sure how that qualifies as management. He also called me that day and seemed like he wanted to help. He said he would call the (my) banks and Visa first thing the next business day morning. I did not hear from him. To call here it is 7 PM there and 9 AM here so it is not like he had to get out of bed at 2 AM, just make a couple evening calls.

Also, on my final trade they had the nerve to rip me off with super high swap fees! I had .002 of a contract and they charged me about $5.50 swap fees on the open trade for three weeks! This is about 10 times what it should be. I have traded for many years and have not seen this before. This was nothing but a dishonest way to grab some of MY money as a good-bye present for themselves.

Shame on you for taking 7+ weeks (so far) to resolve this issue and return my money, and SCAM me on swap fees! (yes, Chris, SCAM is the correct word and not too harsh for this site)

I warned XEMarkets a few times that I would come here and let thousands of traders know about this mess but they ignored any remarks in that regard and did nothing extra so that I would not be inclined to post here.


I'm still waiting.............................................................
Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).,
Limassol, Cyprus,
Jan 20, 2013,

Dear str,

XEMarkets is a licensed European broker that complies with several financial authoritative bodies. For that reason, we are under obligation to comply with the reports sent by our Payment Providers.

In reference to your case, you have been reported with history of chargebacks and as such the PSP has flagged you as a fraudster. In addition to that, you have used the same IP address and telephone number as other users which have also been reported as using lost/stolen cards.

Kindly note that in such case and under the provision of the laws specified in our terms and conditions, XEMarkets is bound to refund the deposit back to the credit/debit card in question, close your trading account (s), nullify all trades carried out in your trading Account (s), and to cancel all losses/profits garnered in your trading account (s). XEMarkets has already refunded back your full deposit of $600.

We strongly advise you to read our terms and conditions which are transparently posted on our website. XEMarkets operates and complies with all the European laws and directives for the prevention of fraudulent transactions, and as such is not bound to, nor tolerates any threats and/or comments on any forums posted by clients as means to receive money after their fraudulent actions.

Thank you

Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).
Prabhu Shankar Ramachandran,
Bangalore, India,
Jan 18, 2013,

They are very trust worthy and reliable. They do not promise the moon but they stick to what they say. The customer service is extremely good and prompt. No complains what-so-ever so far.
Their withdrawal time simply surprised me! I got my withdrawal processed in 24 hours flat. Since my deposit was through e-currency, I had my money immediately after the processing.
Highly recommend them. Keep up the good work guys.
And yes, no requotes in my 3 months of trading with them.
Mario Vega Kolkatin,
Caracas, Venezuela,
Jan 16, 2013,

Excellent broker,if you got troubles they always have a answer. I recommend this broker.
Sheikhupura, Pakistan,
Jan 10, 2013,

Xe-Market Customer team is very much professional & always try their maximum to make satisfy every customer by solving their issues which they face during trading related problems.
Nairobi, Kenya,
Jan 7, 2013,

So far so good. very fast execution. super friendly guy over there called Adam full of positive energy. Sorted my issues in a heartbeat. Customer service reps are very friendly and professional. I will continue to update my experience with them as time goes by.
Carol P. XEMarkets (Trading Point of Financial Instruments Ltd).,
Limassol, Cyprus,
Dec 26, 2012,

Dear Faisal,

XEMarkets have transparently posted the holiday schedule in all languages on the company’s homepage as provided to us from our liquidity providers. http://www.xemarkets.com/

On the 24th of December, as displayed on the schedule, the trading hours at XEMarkets closed at 14:00 GMT the same time the market closed.

We strictly advise you to check the trading schedule in order to avoid any trading issues.

Thank you

Carol P. XEMarkets (Trading Point of Financial Instruments Ltd).
Carol P. XEMarkets (Trading Point of Financial Instruments Ltd).,
Limassol, Cyprus,
Dec 26, 2012,

Dear Cadbuary,

You have left a claim on FPA below without sharing your MT4 ID.

We will be waiting for your follow up with your MT4 ID to take action and transparently present the full data of your claims.

Thank you

Carol P. XEMarkets (Trading Point of Financial Instruments Ltd).
george ioanides ,
larnaka , Cyprus,
Dec 25, 2012,

I would like to say that xemarkets is one of the best brokers i have used they are fast and my withdrawal was processed the same day,
the employees are great and very helpful.
chennai, India,
Dec 24, 2012,

i give a positive feedback fo xemarkets their back office team does a great jo i too face a problem with my account then they asked for few document i provided them so my problem was rectified. jeet singh, chris, andrea, andy, adams all these guys were so helpful they do their job if we are cooprative then problem solved

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.