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.

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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3.023 · 633 REVIEWS
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Traders Reviews

Gergo H. - XEMarkets,
Limassol, Cyprus,
Dec 24, 2012,
Guest

Dear Mr. Nandakishore,
Thank you for your review.
I have carefully checked your account 57291 which is still available for trading. I can see you have made a nice profit, congratulations.
Please kindly notice you may think it's frozen because your balance is not enough to open any trades as you have requested a withdrawal what we have processed.
Nothing has happened which may cause that your account has been frozen. If you have any exact trade which has to be investigated please kindly let me know and I will do my best clarify it for you.
 
nandakishore,
hyderabad, India,
Dec 23, 2012,
Guest

at the time of non farm payroll they freeze my mt4 account at the same time i trade hotforex & fxcentral
 
cadbuary,
Kuala Lumpur , Malaysia,
Dec 20, 2012,
Guest

I've got a really bad trading experience with Xemarkets . Avoid trading with them .. , beware of their trading platform too , server will kick you out when you tried to change values of your trades especially when the market turns against your trade. Screen will hang, black out and kicked by the server . When you relogin again every trade is totally swiped out ! And when I look at the spreads on my losing trades it is really ridiculous and unbelievable! Trade with them and you will lose all your money not because of your bad trades but on their dirty tactics . Beware you were warned
 
Chris A. Zacharia,
Limassol, Cyprus,
Dec 19, 2012,
Guest

Chris A. Zacharia XEMarkets (Trading Point of Financial Instruments Ltd.)

Dear GladlamGONEfromXE,

Please note that your first withdrawal request placed on Friday 9th of November was processed on November 12 (within 1 working day). Your second withdrawal request placed on November 16th was processed on the same day within 5 hours.

We have provided you with ARN numbers of the mentioned transactions and confirmed with the issuer that your withdrawal was processed successfully.

In regards to your comment about our team not being punctual with following up with you; even after our senior account manager contacted you requesting more information about your issuing bank you never replied back with the required information but rather referred to forums to state your frustration. Our team followed up with your case even with no cooperation from your side.

In the meantime we received a notification form our PSP that your issuing bank reported you as “fraudulent” and as a licensed company and since we comply with EU regulations regarding fraudulent transactions, we have refunded all remaining transactions directly to your issuing bank and blocked your trading account.

Your complaint regarding the value of the charged swap was professionally addressed when our team provided you with full and accurate information on how to calculate the swaps as our swaps are transparently posted on our website under http://www.xemarkets.com/spreads

The use of the word scam is not allowed in that case especially that your money has been returned back to your account and processed since November.

We strictly advise that you refer to your bank in order to check on the status of your blocked funds as XEM returned all your funds in accordance with our compliance regulations. We are ready to provide you with all relevant correspondents.

Additionally to maintain transparency please follow up with your bank’s response on the forex peace army.

Thank you,

Chris A. Zacharia XEMarkets (Trading Point of Financial Instruments Ltd.)
 
Chris A. Zacharia,
Limassol, Cyprus,
Dec 17, 2012,
Guest

Chris A. Zacharia – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd)

Dear Ferry and no name,

Please note that you have signed up an account with a limited time promo offering a $25 no deposit bonus which clearly states that you cannot open or operate multiple accounts from the same household or IP.in the terms and conditions:

The account which you have opened under the $25 No deposit bonus offer has been trading from the same location with more than 10 accounts which have been opened under the same offer.

It is strictly advised to refrain from using the word SCAM when referring to a licensed broker. You have been awarded a free no deposit bonus offer and have used practices which are unethical and moreover which violate the terms and conditions of a free no deposit offer.

Thank you,

Chris A. Zacharia – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd)
 
no name,
malang, Indonesia,
Dec 17, 2012,
Guest

@Chris: much your positing used words "It is strictly advised to refrain from using the word SCAM when referring to a licensed broker." LOL LOL LOL

whatever you said, that's from your side..

Give me forgiveness from "XEMARKETS that has many trusted licenses" cause I have violate the terms and conditions of a free no deposit offer and get a profit there.

And give me foregiveness too from other broker that who "do not have" a license cause I make a big profit in his no deposit bonus offer and when I make withdrawal request I has been PAID WITHOUT ANY COMMENTS!

whatever you said, I don't care.. it's enough.. I have my own opinion about XEMARKETS..

http://gyazo.com/1c5044afbbb4cf8f44f2fe41537faca1

2012-12-15 1Star after i make profit in $25 no deposit bonus, they closed my account!

http://vvcap.net/db/TCE2lDGoe9w4IaTqF_tC.htm

do you think i'm a cheater for you?
 
Ferry,
Bandung, Indonesia,
Dec 14, 2012,
Guest

Some weeks ago,this broker provide welcome bonus $25 no deposit.
Then they said that the condition are must be fullfill 50microlot and balance minimum is $70 ($50 profit and $25 welcome bonus). After that i trade as good as i can so finally i can reach that condition. But when i want to wd all of my profit, all of my balance was made to become zero then i got email contained :

Dear Sir,

Kindly note that due to the violation of the terms and conditions of the $25 No deposit bonus, your account has been permanently closed. Any profits made through this promotion thus far will be nullified and subsequent attempts to re-open an account with your contact details will be terminated.

The terms and conditions may be obtained through the following link here, which in summary restrict, but is not limited to, the following actions from being taken with the $25 No Deposit Bonus:

1. Opening of Multiple accounts from same household and/or IP address

2. Any form of arbitrage trading

3. News Trading/ Scalping

4. Opening of Duplicate accounts

5. Any other form of practice which may be deemed as fraudulent

Kind Regards,

LOL THIS IS SCAM!!!!!! DAMN IT
SO I WILL NOT RECOMMEND ALL MY FRIENDS TO DEPOSIT IN THIS BROKER>>>>SCAM!!!!!
No Login 61475
 
Eric,
Lausanne, Switzerland,
Dec 14, 2012,
Guest

This is an update from 4 to 5 stars in my evaluation of 21 May 2012.

The custodian bank is now Barclays Bank.

The support is really excellent! With particular reference to Helene, my french speaking personal manager :-)

Following a painful affair that turned out to be a mistake of my bank, I received double compensation of the costs. XEMarkets let me the entire amount, 374.00 CHF. A nice Christmas gift :-)

Thank you XEM, keep so!

2012-05-21 4 I opened my first account No. 14444 at June 21, 2011 at Trading-Point. Since I opened four additional accounts, I made more than 12,000 trades on my accounts with my Expert Advisor.

I'm specialized in grid-trading, so I need to be able to trade with very small lots. So I test all the brokers that offer 0,001 or 0.0001 standard lot.

Trading-Point provides conditions that are absolutely unique in the marketplace with their Micro accounts :

• 0.0001 standard lot with a account limit of $ 100,000.-
• Account in USD, EUR, GBP, JPY, CHF, AUD
• deposit and withdrawals fees are refunded !
• there is a European broker regulated under MiFID
• the best execution that I could measure with an MT4 broker

Trading Point is proof that MT4 is fast without pluggins!

Ok, the spreads are not the best on the market. Personally I find it reassuring. A European regulated broker has significant costs, so it must make money, its margin is the spread.

The support is responsive and attentive. But the answers to some occasional technical problems that I mentioned could have been more detailed.

A stronger deposit bank than the 'Bank of Cyprus' would be a good idea.
 
sunny,
, Viet Nam,
Dec 10, 2012,
Guest

I rate for this brokers. They support so good and fast. I have no problem with deposit or withdraw.

Take your trip with them
 
OLD TRADER,
, Kuwait,
Dec 10, 2012,
Guest

UPDATE to my review submitted on 12/06/2012
I got my money back , for that am updating my last review to be honest , cause we feel bad from the broker if they did some thing wrong with us but when they do some thing good we have to mention it too , and i have to write some points down :

1) As i mentioned on my last review that they didn't answer my emails and didn't call me , then on the next day they did the same thing with me when they opened the spread to more than 500 pips and they closed all my open positions and lost all my money cause of that , then i felt angry and sent for them very bad email with bad words , i admit that it was wrong from me to say these bad words , what ever happen from them i have not to say like that , i don't say these words now cause they return my money back , no , even if they didn't i'll say it too , i have not to say bad words for them or for any one, and i sent email for Mr.Luciano to apologize for him and for every one there ( by the way i received email from him after i sent my bad email and really he was nice in his email ) and i want to apologize for them here in front of everyone and really i hope that they accept my apologies , as i did some thing wrong for any one i have to apologize so maybe by this apology i can correct the error that occurred from me .
2) I just want two things from Xe markets , if any client has any problem and he chatted with u or he send email , just send him email to inform him what you want to do or how long it will take to resolve the problem so the client can accept that and wait , but when the client send emails without any reply for hours it shows that there's no respect for him and no one cares about him , to send email is free , you will not pay any thing for it so you will not lose any thing if you just send email , it's good for the broker and for the client and for the relationship between them .
Second thing they have to check their spreads at night time cause their spreads unbelievable , and this happen for 2 minutes only then the prices become normal , that's mean it's look like that you want to hit the stop out level for the clients , so if we want this problem not happen again you have to resolve the spreads problem special every night at 00:02.

My apologies again for the company and its employees, and best wishes for the company and the traders .
Account # 63046

2012-12-06 1 Star I had many small open positions with cross EUR/HUF sell position , the spread for this cross about 35 pips , suddenly they opened the spread to 466 pips and they closed my position cause i reached 20% of stop out level as they said , when i chatted with them they said u reached to 20% stop out level and for that they closed my position and i told them look to the chart cause this cross at the same time they closed my position the spread was 466 pips and there's no other brokers reached to this price cause i have accounts with 3 other brokers , the real price was about 282.665/282.996 suddenly the spread become 280.636/285.295 !!!!!!! any one can believe that ???? even if i have 1 million in my account i'll get margin call if they open the spreads like that , when i chatted with them today early morning , the person there told me to send email for lucianom and i dont know who is this man ,i sent him email and wrote for him every thing but he didnt answer me then after more than 2 hours sent him another email without any reply until now ( now is evening time ) , after that i chatted with them 2 times and they told me my account manager will call me , he called and i told him about the unbelievable spread for the cross then he said he will check and call me back , same thing happened he goes and didnt call me again until now , then send them 2 emails to customer care even they didnt reply , what a broker !!!! THEY DON'T RESPECT THEIR CLIENTS , then i sent them email if they want my money let them take it for their children cause they are so poor but let them take it with at least respect us by answering our emails .
Am trading 12 years in this market ( forex - future - option - stocks ) and i faced many problems with many brokers and i gain thousands and i lost thousands so no problem with me if i lose with this broker but if i lose cause of my bad trade its ok for me but i dont like any broker cheat me or steal from me 1 cent , cause if he did that he think that the client is foolish and stupid .
They are scam and thief , dont trade with them , this is my advise for every one .
Thank you to read my review
My account # 63046
 

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.