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 |
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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Traders Reviews
Dear Mr. Landers,
Your account with Trading Point was issued on the 18th of May of 2011.
As a standard procedure required by European Regualtion our backoffice desk had sent you a request to submit your documents on 4 different occassions which you had ignored or not responded:
First Request: 20th of May 2011, Second Request: 5th of Septemner, Third Request 7th of September, Fourth Request 13th of Septmeber 2011.
On the 14th of September you filed for a withdraw request and the backoffice desk replied that you must first validate your account which is when you finally sent in your documents. However after you did send in your documents and your account was finally validated you have since then not requested a withdrawal request.
Please note that your initial withdrawal request had been executed while your account was not validated and therefore is condidered to be not accurate, only validated accounts can issue withdrawal requests and only validated accounts can deposits amount exceeding 2000 USD as instructions from our regulator.
In regards to your comment "no response as if they are attempting to ignore me...no response no email no money received." Please make sure you check your email inbox at the AOL email you provided upon registration and you will find all the emails from Trading Point with all the requests to validate your account as noted above, please make sure you check your spam or trash inbox. As a licensed and regulated broker it would not be in our best interest to ignore any email from any of our customers.
Finally summing up, to make this easier for you; Now that you have finally sent in your documents and your account has been finally validated you can file for a valid withdraw request which will be processed in 2-5 business days as standard procedure.
I hope I have been helpful,
Regards,
Chris A. Zacharia
Official Representative of Trading Point of Financial Instruments
I have a question for Chris A. Zacharia: Considering the recent lawsuit by the CFTC against Trading Point, will you continue to accept clients from the USA? Thank you.
Fast account activation, deposit by bank wire credited within 24h, support from backoffice and technical service is accurate and within reasonable time from request. Loaded some EA that are runnig smoothly. Fair swaps rates. Up today no experience with withdrawals.
Oveall a positive score for this Broker , keep on this way TP !
Dear Alex, Khairul, Tim, Nadav and Artur,
Thank you for your comments and reviews. It gives us great joy reading your feedback. We thank you for choosing Trading Point
Dear Mr. Kumar,
As noted in the email which you received and posted below, your withdraw request was successfully processed and sent to you, I confirm that the funds should be with you till this time. We have sent you the confirmation as requested. If for any reason you have not received the funds until this day please feel free to contact us immediately.
Dear Greg,
I would say that after closely reviewing your case your review is at the least not fair at all.
Withdraw
In regards to your withdraw being complicated; you are a German citizen residing in Thailand which had requested a withdrawal to a bank account in Germany without providing the adequate paperwork for that request to be fulfilled as your source of funding was not made by that means.
Additionally please note that in the meantime you had filed for a withdraw request which you personally cancelled because you had decided to withdraw the funds to a different bank which you were obliged to provide documentation for.
Bonus
As noted in the relevant page of our website http://www.trading-point.com/forex-bonus and in the terms of use of the welcome bonus http://www.trading-point.com/download/docs/welcome-bonus.pdf it is 100% clear that welcome bonuses are deducted during a withdraw request.
In regards to EA’s
Ea’s are welcome and they are NOT in any case blocked on Real Accounts, your EA worked perfectly on your Demo Account as your Demo Account is configured to Mirror a Standard Account where your Real Account is a Micro Account and therefore an EA configured to work on a Demo Account which In reality is like a Standard Account will not work on a Micro as the instruments are listed differently.
Spreads
Our Spreads are transparently published on our website and are accessible from the Spreads page on the main website.
Thank you,
Chris A. Zacharia Official Representative of Trading Point
Harris Karitzis to me, backoffice
Aug 22 (5 days ago)
Dear Valued Client,
I am pleased to confirm that your below request has been well received and processed.
Please do not hesitate to contact us if you require anything further and a member of our team will be happy to help.
Kind Regards,
Harris Karitzis | Back Office Officer | Back Office
t: +357 25029900 | f: +357 25820344
e: harris@trading-point.com"
Dear Sir,
On inquiring from my credit card issuing bank 200$ have not been received & 5 days have already passed.Kindly confirm immediately & give me the trasaction details now!!
Thanks,
Ankur Kumar
13631
Mob:91-9257037569
I opened easy a real account with them. 2 days only my money was there. When i withdrawal money back, boy, they have done it complicate! First they could not find my before uploaded papers! They said to me, i have traded all the time on a not confirmed trading account. They was messing with me around 2 and a half hours in the chat, with the end response, i must upload all my papers again and then they decide, after waiting 24 hours, if they give me back my money. After that, they needed over one week to do the withdrawal back to me!
The 20% bonus they cancel in the moment you put out some money back to your bank account. You will never see one cent of it in your hand!
Also they betray the traders.
They say EA s are welcome! Ha, ha.
The EA s work super on the demo account, yes! On the real account they are all blocked! Nothing works!
You also cant put trading stops around the news time. They put it all out directly.
The spread is bad too! Nearly impossible to go in the win.
After that i decided not to do business with them anymore. I took another broker.
This is a bucket shop. The 5 stars given here are a big lie.
I tell everyone here, stay away from 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.
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.