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.
Video
Your company video here? Contact ad sales
Traders Reviews
They are scamers
Service use: Live
Length of use: 3-6 Months
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,
Closed my account(s)
Service use: Live
Length of use: 0-3 Months
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,
scamers
Service use: Live
Length of use: 0-3 Months
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,
So far So good
Service use: Live
Length of use: 0-3 Months
Friendly broker for newbie traders
Service use: Live
Length of use: 6-12 Months
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
good forex broker
Service use: Live
Length of use: 6-12 Months
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
nobody should use this broker, they are white glove scammers
Service use: Demo
Length of use: 0-3 Months
XM deben evitarlo no se arriesguen busque broker serios .
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,
** Keep away from this broker, they make there own candles **
Service use: Live
Length of use: 6-12 Months
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.
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,
Definately not for Scalper with tight range of trading
Service use: Live
Length of use: over 1 Year
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.
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.
Service use: Live
Length of use: 0-3 Months
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,
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,