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

adigun oluwaseun,
nigeria, Nigeria,
Dec 8, 2011,
Guest

trading point has been a great brooker,there spread is real..no re quote and easy withdrawal...prompt answer to any question.what else do you need from a brooker..
 
upik widanarni,
krian, Indonesia,
Dec 8, 2011,
Guest

good broker so far. quick respon. recomended broker .
 
Meod,
, Viet Nam,
Dec 8, 2011,
Guest

Nice broker, few requote/offquote and good customer service
 
madt,
warsaw, Poland,
Dec 6, 2011,
Guest

I have very nice time with that broker...,
Play fair. Easy payout by MB.. i trade more than half year..
Good, good, good!
 
Chris Zacharia,
Cyprus, Cyprus,
Nov 28, 2011,
Guest

Dear User with Nickname Stay Away from Bellevue, USA,

As noted in all our answers, we have a policy to answer and cater all reviews on a one on one basis. You have posted a review and recommendation to fellow traders to take their Cash and Run; if you feel you would like to act in the same transparent manner in which both this website and Trading Point does it would be much more transparent and ethical to tell us what the particular problem you faced was and what and moreover what your account number is in order to make your statement valid and accurate.

Making a nasty statement with no supporting data is both unfair to the broker and moreover not very transparent as although you MIGHT be a real trader we do not have any facts or details of account number in order to first understand how we can help you if there is really a problem and secondly cater to this issue and preferably provide you feedback if your statement is valid.

We will expect your follow up to take further action.

Chris A. Zacharia – Official Representative of Trading Point of Financial Instruments Ltd.
 
STAY AWAY!!!!!!!,
BELLEVUE, USA,
Nov 20, 2011,
Guest

I read all of these great things about this company on the internet and I don't know where they are coming from. It is terribly hard to withdraw any money from this company. I wish some of the reviews about the problems traders are having with withdrawals were posted when I started with them. I would have run the other way and you should to....TAKE YOUR CASH AND RUN!!!!!!!
 
Marinos Ioannou,
Limassol, Cyprus,
Nov 15, 2011,
Guest

Marinos Ioannou – Official Representative of Trading Point of Financial Instruments

Dear Watcher,

Although your comment has been already answered and catered on other respected for portals where you have published the same review under the name “traders friend”, I would like to follow up on your comment here in order to maintain transparency and our continued effort to answer all customer requests on a one on one basis.

In regards to your withdrawal delay I am once again attaching the answer which was provided to you by Trading Point:

1. When you are trading with a European licensed broker, funding and withdrawing is obligatory to come from the same source unless there is a real reason for this which we as a broker can explain to our regulator.

2. In your case you initially deposited funds to your account through your credit card. When you later requested a withdraw for 600 USD through Wire Transfer you were informed by our back office clerk that your withdraw had to be filed through credit card which was your original source of funding.

3. Once you did file for a withdraw of $600 through credit card your credit card issuer denied the transaction and was capped to $130 as your credit card issuer could not accept withdraws (was not part of the EFT program  http://en.wikipedia.org/wiki/Electronic_funds_transfer) to sources exceeding the amount of original deposit.

4. Which is when our backoffice clerk took the answer from your bank and used it as proof to permit you to withdraw the remaining amount through Wire Transfer.

5. Finally when you did file for a withdraw of the remaining amount through Wire Transfer (Bank Transfer) the account information you provided were Wrong therefore causing the funds to be returned back to us once again.

6. I have read all the correspondence between our backoffice and your self and although I am very strict with my handlings I can easily state that they have been very helpful and very explanatory.

7. Finally the 1% fee you claim in your misleading video is totally false and I am categorically clear that Trading Point does NOT charge any fees when depositing or withdrawing. The charge originates from your bank which should take the time in investigating the fee which you have been charged as this Fee does not come from our side.

If you still feel your requests have not been met or have any more problems please don’t hesitate to contact me on marinos@trading-point.com .

Marinos Ioannou – Official Representative of Trading Point of
Financial Instruments
 
Watcher,
United States, USA,
Nov 13, 2011,
Guest

I have had a very rough go with this company, no matter how much money I earn with them, I can never make a withdrawal. I have posted a video about my experience on Youtube, just put Trading Point Review in the search box, or go to my channel, Traders Friend and You will find my review. The video is composed of actual emails from the company, review the video and judge for yourself, and decide if this is where you want to burn your hard earned money.

I am a real trader with nothing to gain from this review, except to help other traders save their hard earned money.

When seeking a forex company look at the worst ratings, see what real traders are saying about the company, if they are saying things You can live with, open an account, but if not, RUN and take Your money to a broker that values You as a customer.
 
Sean Burgen,
Idaho, USA,
Nov 11, 2011,
Guest

I have been using this broker for a few months and i have had no trouble. They offer bonus' and depositing money is no trouble and credited instantly.
so far very good broker
 
Alvin Abraham,
Pune, India,
Nov 11, 2011,
Guest

Trading with Trading-Point has been a smooth play. From the very sign-up till today, i haven't had any problem with the broker and if anytime a problem occurred i would press the live chat icon and would have my problem solved by the end of the chat. I salute them for their prompt and efficient customer service. The other thing that i like about this broker is its leverage 500:1, which is really beneficial to any small investor like me. The broker is registered with FSA UK and regulated by the Cyprus Securities and Exchange Commission (CySEC), because of which its legality cannot be doubted. Overall i like the broker and hope to carry out my future tradings with them.
 

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.