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

Live discussion

Join live discussion of XM.com on our forum

Go to forums

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.

Video

Your company video here? Contact ad sales

3.023 · 633 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

Diego,
Indonesia,
Aug 2, 2011,
Guest

Hello,

Briefly, Tradingpoint provided a quite satisfactory service (no requotes) and its costumer service are friendly and ready to help anytime. With such conducive trading environment you'll start making your green pips.

Kind Regards,
Diego
 
GANCHENGBI,
CHINA,
Jul 19, 2011,
Guest

Violation of Terms

Dear Sir/Madam,

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,

The Trading Point Team
 
Chris A. Zacharia,
Limassol, Cyprus,
Jul 14, 2011,
Guest

Dear Mr. Hamid,

Your account(s) at Trading Point which were registered under a limited circulation $25 no deposit bonus promotion which we had offered to new clients were suspended s you clearly violated the transparent Terms and Conditions of the promotion which can be found here http://www.trading-point.com/download/docs/tp-no-bonus.pdf and were also found on the promotional page through which you registered.

The terms clearly state:

The promotion strictly disallows account holders which have claimed the Free No Deposit Credit Bonus to use the credited balance and engage in forms of trading which include arbitrage, news trading and scalping. In the case that the terms and conditions of this promotion are abused, any open positions regardless of profit and loss will be immediately closed permanently and the account which has been monitored to be abusing the terms will be frozen.

Further more you engaged in Scalping (transaction no.1725054 which was opened on 28.06.2011 at 9:28:22 and closed same day at 9:29:17 - 55 secs).

Moreover both accounts you issued were used for trading although you had said that you could not log in with the first one.

The above has been expressed to you in the email received before your accounts were terminated.

If you wish for further clarifications feel free to email me directly at chris@trading-point.com or contact me directly at our headquarters at +357 25 029900.

Finally since you have already been personally explained all the above I would advise that you are a little more responsible when you use the words scam and fraud broker as those 2 words do not have any space within the boundaries of our Institution.

Thank you,

Chris A. Zacharia
 
CANADA,
Jun 28, 2011,
Registered user

Trading Point is a trustwothy broker.

- easy account opening process
- fast deposit and withdrawal
- spreads are o.k.

So far so god. :-)
 
Steve Moore,
East Yorkshire, UK,
Jun 26, 2011,
Guest

Currently have an account with Trading Point and have had several dealings with their customer services and have found them to be of the highest integrity.

The only downside which I have come across is that I can't use Meta Trader Multi Terminal so running multiple accounts is difficult (not impossible) I am led to believe that it is on the way though.

Steve
 
Adeobayemi Kunle,
Nigeria,
Jun 15, 2011,
Guest

I have an account with trading-point and i must say that i`ve not seeing a trustworthy
broker like this one since 2004 that i started Fx trading. From my own independent
research about this company, i found out that Trading-point is a pure
DMA(Direct Market Access) and STP broker.This kind of broker makes their money via spreads
and comissions, yet trading-point doesn`t charge any commisssion.I took my time to
read about earlier reviews and i found out that all the allegations about this company is
annoying.If you don`t want any slipage in your account, i guess you should open your own
brokerage company or go for a broker that will steal your money somewhere and coverup for
you at slippag, nothing is perfect in FOREX environment exept brokers takes your money in
a place and covers in another.Had it been that trading-point has another way of stealing
clients money, they would have being covering many sliperages, but what they see
is what they give. I will advice all traders to know their brokers very well before alleging
unneccesarily.I also commend the proffessional response of chris because before i opened
an account i wished to deposit through credit card and mailed them, the response was same
about credit card withdrawal that the remaining can go through bank wire depending on my
credit card issuer.In a nutshell, trading-point is honest and transparent enough and i
hope it will be like this with the company forever.I give trading-point FIVE STARS WITH
MY RIGHT THUMB UP.
 
moursi,
athens,
Jun 9, 2011,
Guest

best of the best out ther good service good spreed good withedrow


Highly Recommended(¯`*•.¸(¯`*•.¸ TRANSACTION EXCELLENT¸.•*´¯)¸.•*´¯)
 
Cesar,
Japan,
Jun 3, 2011,
Guest

Don't waste your money with this broker! I had a open position when trying to close it frozed for about 20 minutes, 30 minutes past of Non-Farm still not able to open a single trade! lots requotes and etc... Bad broker specially around news release.
 
Chris A. Zacharia,
Limassol, Cyprus,
Jun 3, 2011,
Guest

Chris A Zacharia, representative of Trading Point of Financial Instruments

Dear Mr. Norsaiful,

It is my understanding that the comments you pose further below, have been also posed to us in private some time ago, to which our compliance department and back office had explained the situation and had made perfectly clear our execution methodology here at trading point.

As always we pride ourselves in being fully transparent with our clients and as such we have placed the below comments in response to your review post further below:

In response to your pending orders, please note that we will always execute your orders at the best available market price.

We will not, however, execute your order at an off market price which we cannot ourselves obtain and hence cover your order at.

As we make our profit from the covering of our client’s positions (hence it is in our benefit for our clients to keep winning as then they will then trade more and in bigger volumes), it is important for us to be able to obtain a rate which is, at minimum, the same as your requested rate, so that we may make a profit from such an action.

For example, suppose that right before the news EURUSD is 1.4110 and you place a Buy Stop pending order at 1.4120. The market right after the news gaps to 1.4150.

Unavoidably you will get filled at 1.4150 where the market price is instead of 1.4120, as we ourselves must be able to cover our exposure, something which we cannot do at a price of 1.4120, as our liquidity providers also must cover their exposure etc.

As a broker we are here to make a profit from the spread, by covering our client’s position at a better price.

As such please be informed that we will not allow a client to create a scenario in which the broker is guaranteed to lose when covering their client’s trade (i.e. Cover the client at a worse price from our liquidity providers).

Furthermore, the video you sent us, we saw also from the ‘Navigator’ tab that you had in fact another account on the same platform, which, upon inspection, was not under your name.

Further to this there was NO PoA (Power of Attorney) with regards to allowing you to use such an account.

With regards to your withdrawal request made on the 12th of May 2011, please note that as your method of deposit (Credit Card) was not part of the CFT (Card Funds Transfer) Program, any excess amount (profit) that you attempted to withdraw, than the amount deposited, could not be sent back as per the conditions of your CC provider.

It is my understanding that this was made clear to you by our back office, within which email they requested that you supply us with bank transfer details to which we may send your excess amount to.

We received your bank details through an email on the 19th of May at 17:03 local time. Your withdrawal was processed the following day when the banks opened and you received a confirmation email.

In conclusion Mr. Norsaiful, we feel that your comments bear little weight, as we have promptly and transparently responded to the issue at hand in the past.

Furthermore, calling us liars when we are upfront and transparent with regards to our execution methodology and our practices is of lie in itself.

We have mentioned to you and have informed you of the ways in which we operate and in which we do not operate; if this is something that is suitable for you then you are more than welcome to join us.

Kind Regards,

Chris


 
Norsaiful,
Malaysia,
May 28, 2011,
Guest

To all users of the forex ... I do not believe in the trading, this point because there are many problems in trading this point. Its problems are: -
1. When I trade the news released Pending orders do not go places I take my target. Unfortunately the place is in the input, should not place ..... I am very disappointed with the trading point.
2. Withdrawal problems. I mengambik a long time to withdraw money from the trading point. They like menlengahkan time. With a debit card to say the reason there is a problem, while when I deposit money into a trading point there is no problem at all. For me they are liars .... Customers just want their money immediately
 

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.