XM Review

3.023 · 633 REVIEWS

Trading Point of Financial Instruments

Updated: Jan 14, 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

imran ,
faisalabad, Pakistan,
Dec 7, 2012,
Guest

i have start with xemarkets.com recently i am happy with suport department they are very enargatic and helping my account manager Mr Jeet Singh is very nice with his clients i advice to retail traders they can open there accounts with xemarkets.com the accounts are fully safe and secure
 
Chinnakaruppan,
Tamilnadu, India,
Nov 23, 2012,
Guest

Dear Chris A. Zacharia,
Yes i got my First withdraw on 14 November. Today i made one more withdraw request.please process my second withdraw as soon as possible. My rating of this broker is 5 star.Advantage of this broker is 1.No Requotes 2.Bonus.Once again thank you very much Chris A. Zacharia.I am waiting for my second withdraw payment.

2012-11-14 1Star Dear Mr.Chris A. Zacharia,
I have opened the real account on November 7.I made some profit and requested first withdraw on November 13 to my Liberty Reserve account.But still i didn't get my payment.I am new to your platfom.I sent 3 emails to your Back office,but there is no response.i am very scare about my payment.please help me to get my payment.i will rate after i will get my payment.My account id: 56201

Rebuttal: Added by Chris A. Zacharia on 2012-11-15

Official Representative of Trading Point of Financial Instruments (XEMarkets)

Dear Chinnakaruppan,

Your withdrawal has been processed on the 14th of November already. Please note that it takes 24 working hours to process a withdraw request.

We have a major time difference with India and our backoffice desk operates on GMT +2 office hours.

You have visited live chat on numerous occasions asking when your withdraw will be processed and you have been informed of the exact same answer as above.

Please be kind enough to follow up publicly here that your withdraw has been well received.

Thank you,

Chris A. Zacharia

Official Representative of Trading Point of Financial Instruments (XEMarkets)
 
seyit ahmet,
istanbul, Turkey,
Nov 21, 2012,
Guest

I cant take my withdrawns this broker.....they said ''your adress diffrent to my siystem''

and I sent all document and I sent many(15) e-mail but backoffice dont answer to my e-mail..?

I dont have good think for this broker?

I am trying one week for withdrawns but still no result

account number: 53431
 
Chris A. Zacharia,
Limassol, Cyprus,
Nov 19, 2012,
Guest

Chris A. Zacharia - Official Representative of Trading Point (XEMarkets)

Dear Amir,

Our welcome bonus which is posted online here → http://www.xemarkets.com/bonus clearly notes that any bonuses granted will be Nullified upon withdrawal.

Its is very unfair to leave a review which does not reflect reality.

Thank you,

Chris A. Zacharia - Official Representative of Trading Point (XEMarkets)

 
amir,
, Malaysia,
Nov 19, 2012,
Guest

When i want to withdraw , the broker take all their credit. Not fair& terrible ..they never mention it.

Don't trading commodities or indices using this broker, if u trade when contract finish they will close immediately with huge spread, u will lose such huge margin.
 
Chris A. Zacharia,
Limassol, Cyprus,
Nov 19, 2012,
Guest


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

Dear Mr. Mohamed,

I have addressed your case in regards to validation with the Head of Backoffice and it will be resolved. The reason backoffice has not accepted the document when submitted the second time is cause the document was clearly blur; however the issue will be resolved immediately.

In regards to your review:

You are using the word “SCAM”. I consider this word harsh and unfair.

There is NO and I repeat NO chance XEMarkets would refuse any clients withdrawal if all KYC and validation procedures are met.

The above is a simple validation issue and cannot lie under the boundaries of the word SCAM.

Thank you,

Chris A. Zacharia – Official Representative of Trading Point (XEMarkets)
 
Mohamed Ezz,
, Egypt,
Nov 18, 2012,
Guest

Dear Chris,

Although I have no troubles with my account with trading-point's account No. 26077. my problems starts when I begin to open a new account with XEMARKETS.(ID No. 49805)

XEMARKETS is refusing to approve my account in order to enable me to withdraw from it. I provide them with the following documents:

1- Personal ID
2- Bank Statment (from account of which I made my first deposit)

firstly they argue that my "Proof of Residency is different from the one you have registered on our system".

I explain to them why my residency looks different which is resulted from I do not own my home I am living in a rent home or either with my family but I proved that I am Egyptian Person and living in Egypt.

Moreover, my TP account was approved by these documents

Furthermore, I provide to them that I am the holder of bank account from which the first deposit was received which is more crucial than my place of residency.

I asked for solution for my case as I can not provide them except with bank statement as proof of my residency

but after waiting 5 days I received answer that " the name on the document looks added ".

Now chris could you please justify for me this answer XEMARKETS did not try to read my e-mail or problem to find solution as much as it tried to make an obstacles before me

now If I will provide any document they will easy refuse it as because the data looks to be added.

chris just compare between documents on my TP account no. 26077 and my XEMARKETS account documents 49805. the first is activated and the second is not. same documents form the same person and your company received my deposit in both acounts from the same visa account.

When I started to introduce XEMARKETS to my friends the outcome that they refuse it because many of them faced troubles with it they wish not to resume trading with you. Now I think that their opinion become true

For FX Peace Army reader, my review for XEMARKETS is the following:

I do not recommend XEMARKETS for you not because it is a scam but because it has the worst Back-office. you will find the best spread rates their customers services appears professional and nice but all of these sound nothing compared to their back office who will look for how to find obstacles to refuse your withdrawal requests.

finally chris, could you imagine that my account manager disappeared during my problem with back office. he did not try even to send me an e-mail to know the problem even I CC him in all my correspondences with back-office team

My rate is bad and now I am dealing with the account as DEMO not real also I will not introduce XEMARKETS anymore to my colleagues.

Regards

Mohamed Ezz
 
Chris A. Zacharia,
Limassol, Cyprus,
Nov 18, 2012,
Guest

Chris A. Zacharia - Official Representative of Trading Point (XEMarkets)

Dear Mr. Along,

Please note that you have registered an account under Zulutrade to XEMarkets which by default means you will not be receiving any bonus on your account per terms and conditions of using Zulutrade.

Thank you,

Chris A. Zacharia - Official Representative of Trading Point (XEMarkets)
 
Fomen,
Bangladesh, Bangladesh,
Nov 16, 2012,
Guest

My problem is solved and my request when you deposit Xemarkets. Remember that you must need your live account name and LR account Name make same . Thanks for Mr. Jeet (Xemarket account manager).He call me and solved my problem.

2012-11-13 2Star This is a not broker it is a hyip site. I am a pour men. When i see this broker giveing 100% bonus then i deposit 200$ from "Liberty Reserve' . Then 2 day is gone 100% bonus dont give me then i make some trade and make profit 8$. and last i withdrow request 208$ in (9 nov 2012) but still there are not giving me money ... there are telling me your name and your "liberty reserve" account name is not same . Now at this moment what i am doing ... ? i sending mail but not any response ...
 
along,
My, Malaysia,
Nov 15, 2012,
Guest

I deposit my account 34477 on 26 Oct and 28 Oct total usd125. Until today I don't received my bonus for that. I contact online support and 2 times, latest 3 days ago, same answer keep promising me that they will pay the bonus...until today nothing happen. I have to give bad review for this..
 

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.