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

Live discussion

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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

Semphetenyane,Maseru, Lesotho,
Apr 9, 2020,
Registered user

Xm is now bad ,ruunn..........

Service use: Live

Length of use: 0-3 Months

Xm is now beating out their clients. If your trades go in profits,they widen their spreads so that you can make less ,but if it goes against you ,they don't,and the movement becomes fast than when going in profits, e.g I traded gold this morning and placed 4 orders ,guess what ,it went to profits but it stopped when it made profit of $1.27,and never moved more further.

Jan 5, 2020 - 5 Stars So ,few weeks ago I made a withdrawal and it didn't reflect on my account, I even posted such in here,I spoke to them about that issue and they heard me ,so they gave me the swift code which was legit ,which made me get my withdrawal,

What amazed me about xm broker is that ,they made a follow up of my case even though I didn't contact them,I was soooo soo amazed about that ,it was my first time seeing such a broker doing follow ups on their clients,some broker could have ignored me or maybe even blocked but xm didn't ,I love you guys keep doing the good job,

Dec 6, 2019 - 1 Star I believe XM is not the best broker as we all believed, I withdrew 6 days (working days) ago but still I didn't get that money, I have talking with them like everyday after those 6days ,but they keep saying that it'll click ,what disappoint me is that,I withdrew with someone the same day ,he got his money within 24hrs ,as for me ,I didn't get ,so people run away from these broker ,they gonna give you a heart attack ,like they are doi doing to me right now,choose better brokers

Reply by Chris Zacharia submitted Dec 23, 2019 Dear Qalo E.N Rabiri,

I have investigated your account,

From what I see on 6/12 (6th of December) which is also the day you posted this review, you requested from the XM Live Chat proof of your withdrawal.

The same day a copy of the swift was sent to you (once it was provided by XM Backoffice).

To reply to your question withdrawals on verified accounts are Yes processed within 24 hours but wire transfers might take up to 5-7 days to arrive in your bank depending on the bank you use and where you are located.

Thank you,
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Apr 14, 2020:
Dear Qalo E.N Rabiri,

In order to be able to investigate your case I will need:

a) Ticket Number of Order
b) The Account number

To be clear and transparent about b). I can find 5 accounts under a name similar to yours so I want to be 101% sure.

Once you provide me a) and b) I will be able to transparently follow up with you here.

Thanks,
Dubai, United Arab Emirates,
Apr 7, 2020,
Registered user

They are scamers

Service use: Live

Length of use: 3-6 Months

I been dealing with some of companies xm one of them i started my trading with xm they giving me bouns 30$ to start my trading as no need to deposit, i had taken this as advantage to see how they are dealing with all process and how much they are fast in withdrawals i had traded for 3 months i got 110$ above the bouns then i decided to withdraw 50$ then they sent me an email we stopped your account as u used one IP to trade in two different accounts even they didn't give me a chance to explain to them this was my wife account she also a trader. They are a scamers please stay away of this company
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Apr 14, 2020:
Dear AhmedAly,

Your title “They are Scammers” does not really reflect reality.

It is crystal clear in the Terms of claiming the No Deposit Bonus which is available in your region that this promotion can be claimed once. Now the fact that the same IP or same device or same household have claimed it twice is against the Terms and Conditions regardless if this account belongs to your wife. It is simply not allowed and that is clearly stated in the terms of this promotion.

In a normal case, both accounts are terminated and closed. In your case I have asked for an exemption. The accounts will not be terminated but trading activity or profits derived by using the No Deposit Bonus promotion will be nullified.

I would suggest you refrain from calling companies on public forums “Scammers” when you have clearly violated the rules of a promotion given in good faith.

I have gone the extra mile and asked for an exclusion in your case so they do not close your accounts but I don’t appreciate having the company called a “Scammer”.

Thanks,

Spijkenisse, Netherlands,
Apr 4, 2020,
Registered user

Closed my account(s)

Service use: Live

Length of use: 0-3 Months

Suddenly they closed all mijn open positions. I didn't do anything wrong. (no excessive usage or something). I had no warnings, and they don't tell me the reason. They simply don't respond. Worst broker I have signed up with in the last 5 years. (and I signed up with a lot of brokers).

I received the following email:

Dear Sir/Madame

We are writing in connection with your accounts (hereinafter “your Account”) with our company.

Pursuant to section 90 of our Terms and Conditions of Business, please consider this email as our official notice for the termination of our business relationship. Please note that your Account will be temporarily suspended for the next seven calendar days and then permanently disabled.

Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have decided, with immediate effect to, (i) close all of your trading Accounts with Trading Point.

In view of the above, please note that you will be strictly prohibited from opening any new trading account(s) and trade with our company. Nonetheless, in cases where you may successfully open an account and trade with our company due to any technical and/or human error, we reserve every right to immediately close your account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges, back to the same source of deposit.

Please note that, in accordance with the terms and conditions, our decisions are final and binding on all participants and that, other than the notification set forth herein, no further correspondence will be entered into.

Kind Regards

Mar 3, 2020 - 1 Star Suddenly they closed all mijn open positions. I didn't do anything wrong. (no excessive usage or something). I had no warnings, and they don't tell me the reason. They simply don't respond. Worst broker I have signed up with in the last 5 years. (and I signed up with a lot of brokers).

I received the following email:

Dear Sir/Madame

We are writing in connection with your accounts (hereinafter “your Account”) with our company.

Pursuant to section 90 of our Terms and Conditions of Business, please consider this email as our official notice for the termination of our business relationship. Please note that your Account will be temporarily suspended for the next seven calendar days and then permanently disabled.

Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have decided, with immediate effect to, (i) close all of your trading Accounts with Trading Point.

In view of the above, please note that you will be strictly prohibited from opening any new trading account(s) and trade with our company. Nonetheless, in cases where you may successfully open an account and trade with our company due to any technical and/or human error, we reserve every right to immediately close your account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges, back to the same source of deposit.

Please note that, in accordance with the terms and conditions, our decisions are final and binding on all participants and that, other than the notification set forth herein, no further correspondence will be entered into.

Kind Regards

Reply by Chris Zacharia submitted Mar 30, 2020 Dear Mike,



I will need your account number in order to investigate this properly for you.



Thanks,
 
cairo, Egypt,
Apr 4, 2020,
Registered user

scamers

Service use: Live

Length of use: 0-3 Months

they are totally scammers i have account no 60747364 and i started invest in oil from price 21. after i get some profite and requested withdraw they cancelled my profite and closed my open positions and canceled some of my deposite amount , i traid to contact their support but they are scamers dont give those scamers ur hard earning money
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Apr 13, 2020:
Dear Orvant,

When the client is correct, I will transparently follow up and say you are correct.

Our system flagged you as "suspicious", you were sent an email and you made a rebuttal and a complaint and it was proved you are correct and not the company.

You were refunded and the company also added a "bonus" balance to show its remorse for the mistake.

From what I see from my investigation this issue was settled most likely before you posted this review.

I remain at your disposal.

Thanks,
Manila, Philippines,
Apr 3, 2020,
Registered user

So far So good

Service use: Live

Length of use: 0-3 Months

So far I'm happy with XM service. withdrawal and deposit are fast. I understand the wide spread specially on micro account. So please stop finding excuse if you lost money because of your poor execution. XM would not be in business if they have been scamming people.
 
JOHN,
PETERSON, Thailand,
Mar 31, 2020,
Guest

Friendly broker for newbie traders

Service use: Live

Length of use: 6-12 Months

I HAVE BEEN TRADING WITH XM THE LAST YEAR OR SO AND SO FAR I AM REALY SATISFIED WITH THEIR SERVICES. I AM NEW IN TRADING AND THE STAFF WORKING FOR XM ARE VERY POLITE AND THEY HAVE SPEND A LOT OF TIME HELPING ME GET STARTED WITH TRADING. THEY OFFER A WIDE RANGE OF EDUCATIONAL MATERIAL AND WEBINARS.

SO FAR I AM IN A LOSS OF 500 USD BUT I MANAGED TO WITHDRAW 200 USD AND GOT THEM THE DAY AFTER IN MY CREDIT CARD.

HOPEFULLY I WILL HAVE SOME GOOD PROFITS SOON
 
Ahmed,
Kuala Lumpur, Malaysia,
Mar 31, 2020,
Guest

good forex broker

Service use: Live

Length of use: 6-12 Months

I opened account with XM last year and till now I was never scammed by my broker.

Also this broker provides very fast Deposits and Withdrawals with Online Banking and E-wallets that I use for my transactions.

So far i'm Satisfied with XM
 
lleida, Spain,
Mar 30, 2020,
Registered user

nobody should use this broker, they are white glove scammers

Service use: Demo

Length of use: 0-3 Months

they did not pay the winnings they canceled the bond and the account. For 50e I will not bother to claim them, they are also in Belize, nobody should use this broker, having serious thanks for everything.
XM deben evitarlo no se arriesguen busque broker serios .
 
Reply by Chris Zacharia submitted Apr 13, 2020:
Dear Marcos Bermejor Cruz,

Your device was used to open multiple accounts under different names and different emails in order to try to claim the No Deposit Bonus promotion on multiple times.

Promotions are given in good faith and it is crystal clear that we allow each client to claim a promotion once. By using the same device to open multiple accounts under different names and different emails I think the outcome was quite inevitable.

As for the Title of your review “White Glove Scammers”, I suggest you take some time during this period to do some inner thinking.

I will let the readers of the FPA decide.

Thanks,
manila, Philippines,
Mar 28, 2020,
Registered user

** Keep away from this broker, they make there own candles **

Service use: Live

Length of use: 6-12 Months

They have there own candles that never exist.

XM is nothing but money hungry thieves, they offer good bonuses and have an exciting website, but once you sign up your money is basically there's.

It's all a complex scam.
  3 traders have found this review helpful
Reply by Chris Zacharia submitted Mar 31, 2020:
Dear michaellladones,

I take time to investigate each and every single case and make sure its resolved when there is an issue or alternatively explain the client what he might not understand in order to keep things in order.

However, I really don't appreciate having the company I represent being called "hungry thieves" and moreover you making allegation that its all "a complex scam".

If you have a specific complaint related to a specific incident I would be more than happy to check it for you but I really cannot help you if you rush to the FPA and post reviews which are not substantiated by any proof or data.

Thanks,
Alex,
Malaysia, Malaysia,
Mar 27, 2020,
Guest

Definately not for Scalper with tight range of trading

Service use: Live

Length of use: over 1 Year

I have an algo trading which scalp with fixed stop loss range by calculating the average body candlestick. It works fine when running in Demo account. But once it run in real account, things doesn't work right at all. XM claimed to provide low spread as low as 0.6 pips, but don't let it fool you. I understand there are times when liquidity low and volatility high which widen the spread, so I did avoid trading before pre-event and also during the market closing & reopen hour. And yet, EURUSD spread can goes up to 6.8 pips when it is just normal trading hour at 2320 [GMT+8]. At the end, XM can just give bullshit telling it is not their problem and obligation to maintain the spread, so don't get surprised if the spread goes to 100pips and cut your position.
  3 traders have found this review helpful
Reply by Chris Zacharia submitted Mar 31, 2020:
Dear Alex,

You have taken the time to post a review with a lot of information that is very "general" and moreover does not reflect reality.

I would be more than happy to check your case if you require an answer but I will need your account number to do so.

Thanks,

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.