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

Castiel Tan,
, Singapore,
Dec 13, 2011,
Guest

I read that this broker accepts credit card deposit so I registered an account and deposited the money. After I tried to withdraw, they close my account and now my money is all gone...
 
Zambri,
Pahang, Malaysia,
Dec 12, 2011,
Guest

It was a great disappointment trading with Trading Point. I suffered huge sum of losses. Their MetaTrader platform is cheating you - it's like the platform has been programmed intentionally to give you losses. Every time I made an entry, the chart's bar moved away rapidly in reverse direction thus giving me losses. For other chart that I didn't make any entry, the bar moved very slowly - baiting me to make entries. There is something wrong with their MetaTrader platform. Be careful!
 
Chris A. Zacharia,
Limassol, Cyprus,
Dec 11, 2011,
Guest

Official Representative of Trading Point of Financial Instruments Ltd.

Dear Thanwath,

Can you please follow up with your account number so we can investigate your case and see why your 50 USD has not been paid.

We would advise that if you feel you would like to act as an advisor to other traders it is transparent to submit data and details of your case to ensure:

1. Your case is real.
2. You are presenting your case in an honest way.

Summing up, it is only realistic to say that NO European licensed broker would jeopardize its license or its credibility by not paying a customer his profits. I would suggest being more responsible with your reviews on a serious site like FPA.

If you would like us to follow up publically with your case please follow up in the same transparent way with your MT4 ID and we will post a full summary of your case to ensure transparency.

Thank you,

Chris A. Zacharia

Official Representative of Trading Point of Financial Instruments Ltd.
 
Trader2012,
Phnom Penh, Cambodia,
Dec 11, 2011,
Guest

Trading-point is very good and honest broker. Any join them you will not regret your decision.
 
corrado,
italy, Italy,
Dec 11, 2011,
Guest

Hi everybody !

I read a lot of inaccuracy about the bad news someone wrote on Trading Point.
I'm trading with this broker from a couple of months .. and I only can tell good, very good news. I explain me better:

1) the chat and the live support is simply excellent: Diana and Nikos always helped me everytime I need their help .. and most times I closed the chat with the problem fixed. Diana is talking italian as well .. so if you are an italian trader you can easily ask in italian and she will help with accuracy and kindness. I can proof this.

2) about the spread on the pairs ... I'm not a scaping as my trading systems are trend follower systems, so the impact of the bid/ask spread is very very marginal for my trading activity; Anyway I never recorded any strange or unusual spread on the major pairs I trade (AUD/USD and GBP/USD). Never !! It is an honest broker like many other brokers witch offered spread follow the markets volatility. That's all

3) withdrawals: I already requested 2 withdrawals on Thursday .. and I correctly received them 3 working days later (Tuesday). I requested a withdrawal via credit card (for an amount equal to the amount I deposited with this instrument) and via bank wire (for a small amount) .. and I absolutely can confirme you that both Diana and Nikos helped me for my first withdrawal .. and of course that the money just arrived on my bank account as promised. The procedure is very easy .. and the back-office is happy to help you in case of problems.

Believe me: no scam ... no fraud. They are very very very good guys.
I never had a similar good live chat help like with Trading Point ... and as you can understand, this point make the difference when you have to choose a broker. So please, before to write unaccurated things, think about.
I absolutely suggest to everybody to open account with Trading Point and trade with them.
Traders that are satisfied from their services, like me, should leave a review in this forum so that we can help Trading Point to increase and become one of leaders in the market. They actually deserve it !!

Be confident in Trading Point and if someone need more info I should be happy to help them
Stay tuned and have a nice trading with Trading Point !!

Corrado
Italy
 
Trader Forex,
Karawang, Indonesia,
Dec 10, 2011,
Guest

2 years in the forex world and has tried more than 10 brokers of the world, no one has been like here at the trading point fast execution, small spread, no requotes. Sorry but I have not been able to give testimony about the withdrawal because I have never felt withdraw from here.
 
Ejaz Ahmed,
Mansehra, Pakistan,
Dec 10, 2011,
Guest

I consider the broker as really good, as I have traded a bit with the company. Very Good Execution. I consider especially helpful to the smaller invester/traders.
 
Hoang Long,
Ha Noi, Viet Nam,
Dec 10, 2011,
Guest

I use trading-point for 8 month and no complain about this broker. Thank you trading-point
 
Mayeesha Ashrin,
Dhaka, Bangladesh,
Dec 9, 2011,
Guest

i have heard very good about this broker so i opened an account with them and they r really good
 
David,
NC, USA,
Dec 9, 2011,
Guest

Always had positive experience with Trading Point on transactions. Never issues with requotes and one of the few places you can still trade gold silver and oil due to bloody US government nannystate mentality.
 

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.