XM Review

3.004 · 620 REVIEWS

Trading Point of Financial Instruments

Updated: Oct 24, 2020 · 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 cryptocurrencies, 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.

XM.com is part of Trading Point of Financial Instruments UK Limited group. Members of this group include Trading.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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3.004 · 620 REVIEWS
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Traders Reviews

Siya,
Eastern Cape, South Africa,
Oct 22, 2020,
Guest

Service use: Live

Length of use: 3-6 Months

Excellent broker, with a wonderful trading platform with fast execution and an overall great service!
 
Untrasried, Germany,
Oct 21, 2020,
Registered user

Gave them a second chance after one year

Service use: Live

Length of use: over 1 Year

---------- Forwarded message ---------
Von: XM-Global <middleoffice@xmglobal.com>
Date: Mo., 9. Dez. 2019 um 01:01 Uhr
Subject: Important Notice - Account No. 19123879, 19125255, 19122186, 19125256, 19117576, 18059051, 21188365, 19124598, 19124597, 21188390
To: <Anthony ******>
Cc: Christos Gogas <cgogas@xm.com>

Dear Sir/Madame,
We are writing in connection with your Account no.  19125255 19125256(hereinafter “your Account”) with our company.
In that regard, our Anti-fraud Department has brought to our attention that the trading patterns in your Account(s) raise serious concerns that your Account was being used for ‘arbitrage’ activities. 
Pursuant to the terms and conditions such activities are being qualified as fraudulent.
Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have  decided, with immediate effect to:
- close all of your trading Account(s);

As a result, you are kindly requested to submit a withdrawal request for your remaining balance  through the Withdrawals Section of our Members Area and this shall be processed accordingly. If no withdrawal request is received within the next 48 hours, your funds will be sent back to the source.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
--
XM Team

---------- Forwarded message ---------
Von: Anthony ****** <Anthony ******>
Date: Mo., 9. Dez. 2019 um 14:19 Uhr
Subject: Re: Important Notice - Account No. 19123879, 19125255, 19122186, 19125256, 19117576, 18059051, 21188365, 19124598, 19124597, 21188390
To: XM-Global <middleoffice@xmglobal.com>

Hello,
I don't use "arbitrage". I only use hedging with 2 accounts. I've been your customer since 3 years and you wanna close all my accounts yet?You will lose a lot of customer because I did free marketing for you. I told all my own customer about you. In these 3 years I never did a mistake and now you will close all my accounts?Then I will switch to another broker and tell all my customer what you do. I like XM and I show my loyality to XM. But you close negative trades and I lose one whole day. How you will make it good?
Best regards
Anthony ******

That's now 1 year ago. I write them a new message some days ago to clarify:

---------- Forwarded message ---------
Von: Anthony ****** <Anthony ******>
Date: So., 18. Okt. 2020 um 22:59 Uhr
Subject: My account 19117576
To: <aumiddleoffice@xm.com>

Hello,
it‘s now 1 year ago you close all my accounts because you say I did arbitrage. I said to you, I don‘t did arbitrage. i hedged my trades but you don‘t give me a chance to show that. You didn‘t show me any proof. Now I work with a lot of big other brokers. I‘m ready to apologize your mistake because I want to be a customer of xm. Because I know xm has good conditions. Is it possible to clarify? For me it‘s not important. I can be a customer from the other brokers too. That’s your decision. I am not dependent on you. So you can choose now, if you maybe has a very loyal customer, who recommends you to other people or you haven‘t.
Best regards
Anthony ******

That was his answer:

---------- Forwarded message ---------
Von: Christos Gogas <cgogas@xmglobal.com>
Date: Mo., 19. Okt. 2020 um 10:54 Uhr
Subject: My account 19117576
To: <nguyenanthony12101998@gmail.com>

Dear Sir/Madam,
thank you for contacting us.
Regarding your concern I would like to ask you to refer to the email you received about the status of your account. 
Kind Regards,

Christos Gogas

I think they don't read the message, they are all to lazy to clarify that. XM has good conditions but the support isn't existing.

Dec 26, 2019 - 2 Stars Hello,

XM has good conditions for their customers.
I prefer the deposit bonus and the margin stop out level. The spreads are very stable.

But the support ist terrible. I have been your customer for more then 3 years.
I never did a mistake.

For more then 2 weeks ago I opened two low spread accounts. With one account I bought EURUSD and with the other I sold EURUSD. At the midnight I got a message that I'm a scammer because I used "Arbitrage". That's not f***ing arbitrage. That's Hedging. So they close all my accounts. After that I wrote a message to my account manager and to the support. I replied the message of them. But they only wrote back "we can't do anything".

What the hell. I was a very loyal customer, I told other people that xm is the best broker. Some of my customers are customers of xm because I told them about them.
You can make one mistake and they give a f on you. That's not a support. They should get 0 stars for that. But I see the positive sides too.

I'm very angry about that. They destroyed my ranking on MQL5 and had stolen more than 4 hours of my life. But thanks to god. I got a meesage from another broker which want to work with me. I would have deposit a very big amount in xm. But now it's to late. I don't want to work with a broker who gives a f on their customer. Bye.

Reply by Chris Zacharia submitted Jan 8, 2020 Dear At0nu5,

In order for us to properly investigate this and be able to provide you a comprehensive reply we would need the account number of one of the accounts which you used.

Thanks,
  1 trader has found this review helpful
EU, Greece,
Oct 15, 2020,
Registered user

They don't like profitable traders

Service use: Live

Length of use: over 1 Year

When you are profitable and you ask for withdraw emediatly they terminate their corporation without any excuse. That was second time they did to me.
So i received first that mail:
"Dear Sir,

We are writing in connection with your accounts no. 52120850 with XM.

As per the relevant section of our Terms and Conditions of Business, please consider this email as our official notice for the termination of our business relationship.

In view of the above, you are kindly requested to close any open positions you have in your trading accounts by Wednesday 30/09/2020, 8:00 AM GMT+ 3 at the latest. Any positions in your Account(s) that are still open at that time will be liquidated automatically at prevailing market prices and your account(s) will be closed.

In this respect, please submit a withdrawal of remaining balance from your Members Area.

Kind Regards, "

I reply to them :
On Wed, Sep 30, 2020 at 5:09 PM wrote:

Dear sir/Madam

I just read the mail you send me for termination of our business relationship!
Really im wondering why you make this decision?
Since we have a long term corporations without any problems, why we must terminate our business relationship?


Regards "
and they reply to me again :
Dear Valued Client,

Please consider this as a final reminder to the last email.

As per the relevant section of our Terms and Conditions of Business, please consider this email as our official notice for the termination of our business relationship.

In view of the above, you are kindly requested to close any open positions you have in your trading accounts by Monday 05/10/2020, 8:00 AM GMT+ 3 at the latest. Any positions in your Account(s) that are still open at that time will be liquidated automatically at prevailing market prices and your account(s) will be closed.

In this respect, please submit a withdrawal of remaining balance from your Members Area.

Kind Regards,


XM Team"

Second mail after my reply:

Dear Sir,

Kindly note that your account will close for compliance reasons, our decision is final and no further correspondence will be entered into.

Further to previous correspondence, please close the open positions and submit a withdrawal request of the remaining balance.

Kind Regards,


XM Team"

As i said before that was second time that they terminate our corporations and both of times it was when i withdraw a big amount of profits and when in general i was profitable.
I got mad and this review is the least i can do to make people to be aware of them.
  1 trader has found this review helpful
Africa, Uganda,
Oct 15, 2020,
Registered user

Good broker with low deposit, low spreads

Service use: Live

Length of use: over 1 Year

Xm is generally a good broker with low spreads, multiple account types and multiple financing options..
After gaining some experience in the financial markets I got to learn that apart from providing a brokerage service, brokers are there to make money and so are the traders.. So it's simply all about the trader knowing how to make it out profitably in the market irrespective of any broker's traps by aggressively managing risk, understand various market conditions during different sessions and making decisions wisely.
Making profits is one thing, and with drawing your profits is another. Always pay your self by with drawing profits

Mar 3, 2020 - 1 Star I placed usd/jpy trades in February 2020 during the asia session, they stop hunted all my trades, Then on 3rd March 2020 I placed a buy position for AUD/USD my stop loss was not triggered and it wiped my account. Xm are a bunch of losers trying to make ill gotten wealth by robbing off traders from unregulated low income continents like Africa and Asia. From this point on I rather you try a EU or US regulated broker but genuine than these guys.

Reply by Chris Zacharia submitted Mar 30, 2020 Dear Trading for Freedom,

I checked your account.

Although I don’t have the exact ticket number of the orders you are referring to, I have investigated what I could.

I do see, some very normal slippage of 1 point on some positions which is around 10 cents worth but nothing extraordinary.

Furthermore regarding your stop loss, from what I the market price reached and even passed your stop loss level. Regarding your stop out, that specific trade was not set up with any Take Profit or Stop Loss so when the market moved against your order your order got stopped out.

You are quite harsh in your review and you label XM various things, I have spent more than 40 minutes investigating all your trades do see if there is any wrongdoing from XM side and I cannot find something.

If there is something of the above you need further clarifications on let me know.

Thanks,
 
Johannesburg, South Africa,
Oct 9, 2020,
Registered user

The authenticity of this broker.

Service use: Live

Length of use: 6-12 Months

Personally XM is thee best broker I have traded Forex with.
Starting my forex journey I had 5 different brokers with XM included.
I used all these 5 brokers and got to experience the withdrawals and as well their live chat.
Now with all these after serious valuations and of course XM has got so many pull factors .....out of my experience with this broker, when you trade really according to their terms and conditions you will not have any problems with them....the support team is always on their A-best....
There has never been a day I saw any manipulation on the market by XM.... I only hear such stuff from other users. But anyway this has been by far the best broker I have ever used. I just love their platform..... It's security, it's transparency of information, their bonuses and promotions.....if possible I wish I could work for XM(serious though)
 
Melaka, Malaysia,
Oct 6, 2020,
Registered user

Concern* (Rephrased due to Typing Errors).

Service use: Live

Length of use: 0-3 Months

I found xm.com on google search as a reliable trading site. I am a fresh user/trader and still practicing on a demo account and I have also registered a live account # 61283693 and being granted 30$ bonus. Since there are a lot of scams sites existing in the market and they cheats user with various dirty tactics (such as automatically closed the order, suddenly too much variation between prices with live market, creates strange and tactical policies to stuck users)

I trusted 95% xm.com mainly due to their office and account manager are existing in Malaysia.
I have introduced XM.com as safe trading site to my 3 siblings, my wife and my father.

I have opened one live account and 4 demo accounts and shared my demo accounts with my siblings since all of us are new. My family decided to invest for short and long term and hold positions such as gold aapl and tsla shares on 1:5 (None expirable instruments) account which quite safe ratio for specially for slow moving instruments.

We all just decided to invest our savings on coming Tuesday (the day after tomorrow) despite aware that XM app is unstable on apple devices. luckily, today I spend about 6 hours to read the users complain and your (Chris Zacharia) responses.

Unfortunately, I noticed most of them having a same issue and it is all about so called bonus and the funniest thing is all stuck upon withdrawals but at that time or very next day when they committed an offense.

I had opened an account one of the trading site of (cypto currency) about 2 year ago (which I still have as active position) and once I am getting familiar with the market so my wife also wanted to open an account and I proceed for the second account for my wife but it stuck on verification and very next day the merchant’s agent contacted me and saying that “ you already have one account you cannot proceed with another account, I explained them that this account belongs to my wife but he said in extremely polite manner “Sir it’s very hard for us to justify to our management” . I think it really make sense... conclusion my wife’s account has not been validated/verified/activated.

In my understanding XM.com is far bigger size in term of investment capital, people capital and the technology than the exchange which I am talking about therefore, I strongly believe XM management and their IT department must be very advanced however the users are consistently facing issue when they intentionally or unintentionally abusing privilege of this so called bonus’s but XM management’s consistently failed rectify the root cause and what I can see as money/benefit point of view it is deliberately by XM.

I read some of the terrible responses from you to one of the user from Malaysia, he opened more than 50 accounts but you guys only bother about it when they he turned his money to double or triple and you guys remain keep quiet when the users creating accounts. XM never take any action when the system noticed there is IP conflict (when he they detected multiple account has been opened/used with the same IP address and the mac address) because the user yet to make money once he make money then he will perform withdrawal and then only XM will take an action by seizing users funds.

Let me give you a real example of one your client which I read in comments.
One of the guy invested 1002 as stated in comments and he turned his money to 2404 (something if in correct the value please refer the comments of public) but you guys only bothers when he or she wanted to withdraw but do nothing when he was breaching the policy.

One of the guys invested 500$ and then it turn to 11++$ and then he wanted to withdraw, XM shows him policy that you violated the policy and return his initial deposit.

Does this is means people invested 10,000$ and when they make it 20,000$ just because of bonus of 30$ XM keeps his 9970$?, come on you took your own money (30$) it make more sense, because when they made lost of 5000$ XM won’t return to the customer as initial deposit of 10000 but XM will return 5000 only, so how it make sense when the user earn profit of 9970$ XM keep it as penalty of violation of their policy?

I am from Finance Background not IT but I am 101% sure that you guys can stop the users to creating duplicate users by setting up some system control such by registering MAC address of the devices and block the user at first when your system detected multiple users from the same device, explain to the users, specially new users like me, what you can do and what you must avoid to being victim.

I also noticed another funniest promotion which tactically benefits to XM “Ref a Friend”.
I called to my account manager and ask to describe policy which limits the user “ with IP address” (one user login so many accounting using same IP), he said “ Sir, you can not use the same IP address” such as same wifi”. How lame policy is this man.

Let me give you a Live example of human nature.
If you are a retired person what will be your friends circle?
Yoga class with friends, sitting in the park with friends, get to gather with friends at home, visiting relatives etc. These are the core circle, now you introduced your friend in Yoga class and both friends using the same wifi, you invited your relative to your home and their kids wanted to use your wifi to watch youtube and you let them connect and later on the main guest also connected with your wifi.

Another example, A introduced his brother B and later on A invite B to come A’s house later on they shared their experience that and show each other (such as A earn this much by buying xyz instrument and B shows this much loss buying ABC instrument) the funniest thing is if you are on same wifi you are a violated the policy.

Another real example of my life: As normal human with challenging life, spending 9 hours in office, 8 hours sleep, 2 hours in traffic and driving, 5 hours personal and family utilities.
In such situation, my friend cycle is my office colleagues and 4 of them agreed to open an account into XM and off course I was expecting reward from XM.
But again, we all are working in a same company, my office area has issue with the network and my pc and my phone has connected to company’s wifi and not only me, there are 300 employees PC and 90% employees phones are connected with the same wifi. Which mean I am also become of victim of this is none sense policy and this is how some of the people has to scarifies with their own money.

A middle range people do not read the entire or even partial policy specially presented Bank, Insurance and Financial institutions like XM as I did the same upon signup.

If XM and the management really sincere, they could already place some rectification and corrective action by placing some system control as stated above so the end user could be prevented to abuse intentionally or unintentionally but since XM didn’t take corrective action it is clearly indication bad intention wrapping in their policies, because once they make correction, then they people won’t make mistake and when the people won’t make mistake XM won’t seize their money in order words XM lost their income generated from people by these penalties.

Anyways, thank God... I have yet to invest my family’s long saving and their hardwork earnings into XM, I am very thankful for this foram.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear ImranRaza84,

Please note that in XM we welcome constructive feedback such as the one provided in your review; however, I need to stress the fact that our Terms and Conditions of each of our promotions, are in place in order to benefit both our Company and our Clients. Particularly, I can assure you that we have very favorable trading conditions which help our clients to trade fair and we always have our clients’ best interests as our priority.

Kindly note that due to confidentiality clauses, I am not in position to further disclose any information in relation to other clients’ cases; however, I can confirm that we always abide by our Client – Company agreement which governs the business relationship with all our clients and therefore, any actions taken were in line with the relevant Terms and Conditions.

In this respect, I am confident that in case you are trading based on our Terms and Conditions of business, as well as on the Terms and Conditions of the relevant bonus you were granted, no issues will arise.

In conclusion, I would like to reiterate the fact that it is not our wish to trouble our clients and we are always doing our best in order to offer our clients the best possible trading experience.

Thank you,
Egypt, Egypt,
Sep 26, 2020,
Registered user

server disconnection

Service use: Live

Length of use: over 1 Year

hello
i been trading with xm , real account number 53093935

while using the main platform of xm metatrader
it stopped receiving quotes
the server did not disconnect (it didn't write no connection in the right corner of the metrader) ,and it did not make a disconnection sound either
so i had no idea the platform has stopped. this is what's called a hidden disconnection
after restarting it manually it started receiving quotes again
but i discovered this 2 hours later , which resulted in a big move in the prices of my open positions

i been trading normally with xm on the same platform but with a demo account and this malfunction has never ever happened throughout the months

i am wishing xm to compensate me if any loss
and avoid this further error in future
i want no harm nor threats from xm team either or any one influencing its team

p.s

this also may be a computer's error , but the thing is , i checked the connection by opening any website , and the internet was working properly , and the met quotes of xm was not receiving quotes nor disconnecting

if it was an ISP error , simply all the internet would stop working , but the internet was connected and websites were working efficiently ,

it could also be an error with the software installed but why would this error happen just when i started trading with a real account but never ever happened in the demo accounts since more than a year

from my side i will re install the whole windows again
and establish a connection using a fixed internet router

regards

H Park

Thanks alot
 
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear hpark2020,

Please provide me with further details in relation to the issue you claim you had in order for me to be in position to further investigate the issue.

In this respect, please provide me with the date and time the issue occurred and the orders you claim have been affected.

Thank you,
amman, Jordan,
Sep 22, 2020,
Registered user

so bad

Service use: Live

Length of use: 0-3 Months

A tree is known by it's fruit
Yes really
I will talk to you about my experience of this wonderful site,
my issue with one of the Forex companies
That company that I signed up with from their huge web ad.
As a welcome that I am a member with this company, I have been given $ 30 free additional credit to start trading with.
Unfortunately, it turned out that this is just a silly game with which they are playing, or rather that it has other purposes.
After only one week, I won a small amount of $ 120 plus addition to the $ 30 extra balance that was granted to me, and then I wanted to test the dealings of this company that calls itself a reliable company among the world of forex companies .
My account was closed without prior notice, and the bank transfer was not sent to me on my bank account, knowing that the amount withdrawn is only 110 dollars, the withdrawal was made without the additional balance that was granted to me
A company XM was contacted it with thier staff , but without any clear explanation of the process of confiscating my money
Is a company * XM * really a reliable company? I don't think so .
If it was a real company dealing with its customers, it would not confiscate money for its own pocket .
I conveyed my message to you with full respect to everyone :)
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear MO SAMI,

Please provide me with an accurate account number in order for me to be able to assist you.

Thank you,
愛知県, Japan,
Sep 12, 2020,
Registered user

しっかりしているブローカー! A solid broker!

Service use: Live

Length of use: over 1 Year

I've been using this broker for a long time, it's a very good company and I was able to withdraw money well! Support is also solid! Then you can make ideal trades with solid bonuses and financial licenses.

僕はずっとこのブローカーを使っています、とてもいい会社で、お金もしっかり出金出来た!
サポートもしっかりしている!

それからボーナスも、金融ライセンスもしっかりして理想なトレードが出来ます
  2 traders have found this review helpful
bd, Bangladesh,
Sep 12, 2020,
Registered user

customer support is bad really awful for beginners

Service use: Live

Length of use: 0-3 Months

their representatives never cooperate and very messy and hard to navigate web page and interface
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear azazel,

Please provide me with your account number and further details in relation to the issue our Customer Care personnel was not able to assist you, in order for me to further investigate the case.

Thank you,
Harare, Zimbabwe,
Sep 11, 2020,
Registered user

VERY TERRIBLE experience with XM in less then 2 months

Service use: Live

Length of use: 0-3 Months

I just received an email stating that they are closing my account due to my trading patterns and bonus arbitrage reasons I don't find credible .Suppose I made an error somewhere atleast they should have given me a warning not to close my account permanently just like that.
Below is the email I just received
Dear Sir/Madam,

We are writing to you regarding your account(s) no. ////(hereinafter “your Account(s)”) held with our Company.

Pursuant to 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 trading account will be temporarily suspended for the next seven (7) calendar days and then permanently disabled.

Accordingly, we regret to inform you that in accordance with our Terms and Conditions of Business, it has been decided, with immediate effect to (i) close your account(s) with our Company and/or with any sister companies,

In view of the above, please note that you will be strictly prohibited from opening any new trading accounts and trade with our Company and/or with its sister companies. Nonetheless, in cases where you may successfully open an account and trade with our Company or its sister companies, 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 initially used to fund your account.

Please note that our decision is final and binding on all participants and that, other than the notification set forth herein, no further correspondence will be entered into.


Kind Regards

--
XM Team
 
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear LeeRu,

In order for me to be in position to assist you, I need to be provided with your account number.

Thank you,
Makti, Philippines,
Sep 10, 2020,
Registered user

CUSTOMER SERVICE IS NOT HELPFUL AT ALL - FUNDS LOST!

Service use: Live

Length of use: 0-3 Months

I initiated a withdrawal last Aug 16 via debit card and its been 19 banking days already! The processing is only 2-5 banking days maximum!

When I confirmed with them they provided me with ARN number for the transaction so I got in touch with my bank's main office to check with them but they couldn't find any transactions meant for my debit card for the withdrawal that is meant to be credited to my account!

They kept asking me for bank documents which I already provided but they want more with debit card numbers linked to my account number and all! I just don't understand why they won't start further investigation from their end from a very frustrated client. It's not like I am asking them to bank-wire me the amount immediately! I just wanted for them to further investigate what happened to my funds! But they refuse to do so!

I am keeping this rating as it is until someone from XM reaches out to me and help me resolve my concern. What is frustrating for me even more is I have bigger funds up for withdrawal but I cannot do that just yet because of this failure and lost funds! And they still refuse me to allow bank transfer as an alternative method even though my initial withdrawal has been a complete failure!

Someone get in touch with me pleaseeeeeeeeeeeeeee.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear ForexBunnyPh,

In order for me to fully investigate the issue I need to be provided with your account number.

Thank you,
missiones, Argentina,
Sep 7, 2020,
Registered user

excellent

Service use: Live

Length of use: over 1 Year

I am very surprised to read bad reviews over this company , most of them seems to be from newbies who get caught by spread widening at 00h00 , others from people trying to get some money after abusing bonus scheme .

I trade with them for more than one year and it had been a smooth expereince
trading conditions are very good with "ultra low ac" , spread on XAU is the best with 23p commission included /
I made numerous deposits and withdraws and never had any problem , its fast and secure .
  2 traders have found this review helpful
Pam,
South Africa, South Africa,
Sep 7, 2020,
Guest

The quote price

Service use: Live

Length of use: over 1 Year

XM quote price for pending orders is different to a fulfilled order same currency pair same direction e.g buy, how is that possible?
 
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Pam,

Please provide me with more details in relation to the issue such as your account number, order number, data and time, etc.

In that way, I will be able to provide you with an accurate response.

Thank you,
Johannesburg, South Africa,
Sep 3, 2020,
Registered user

STOP HUNT BROKER! SCAM ALERT!!!

Service use: Live

Length of use: 0-3 Months

I was long on EURAUD on H4 time frame 2020/09/01, my stop loss was in a safe distance from the bottom below where the price formed a W, then around 00:00 September 2 2020, all of a sudden a candle with a long wick spiked down taking me out! I checked EURAUD on other brokers on the same time frame and there was NO such spike down! STAY AWAY FROM THIS SCAM BROKER! I have the screenshots.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Sandule,

I have reviewed the issue raised and I can confirm that your orders under question have been correctly executed at a price different from your requested Stop Loss price due to slippage.

Particularly, due to the market conditions at the timeframe under question (i.e., low liquidity during midnight), the market was very volatile, and your requested Stop Loss price was not quoted (i.e., due to the price gap). Thus, it was not possible to execute your orders at the requested Sell Stop price (i.e., 1.61332) and the orders were executed at the next available price, as quoted on our Online Trading Facility (i.e., 1.6125 and 1.61253).

It is unfortunate that such market movement was unfavorable to your trades; however, please note that our Company cannot be held liable for any losses incurred due to any market movements. In addition, kindly note that under Section 3 “Volatility of price and limitation on available market” of our “Risk Disclosure” it is stated that: “Under certain market conditions it can be impossible to execute any type of Clients order at declared price. Therefore, Stop Loss order cannot guarantee the limit of loss.”. You may find the aforesaid document at the following link: https://www.xm.com/assets/pdf/new/docs/XMGlobal-Risk-Disclosures-for-Financial-Instruments.pdf for your ease of reference.

I hope that the above information explains what has occurred, and I would like to assure you that it is not our wish to trouble our clients.

Thank you,
Johannesburg, South Africa,
Sep 1, 2020,
Registered user

Horrible Experience - Scammers

Service use: Live

Length of use: 0-3 Months

Important Notice
Dear Valued Client,

We are contacting you with reference to your account(s) no. 38363704,61095271,57066515,45245150,38275078 (“Your Account(s)”) held with our Company.

The trading patterns in your Account(s) raise serious concerns regarding the trading bonuses credited to your Account(s) by the Company, since these were used for ‘cash-back arbitrage’ activities.

Pursuant to the Terms and Conditions applicable to our trading bonuses, the following are qualified as "cash-back arbitrage" activities:
Any form of arbitrage trading
Bonuses claimed by multiple Accounts that were registered from the same IP address
Various practices of bonus manipulation
Breach of any points included in our bonus Terms and Conditions
Any fraudulent activities, disputes or situations that our Company considers as fraudulent.

In view of the fact that the trading patterns in your Account(s) do not comply with the Terms and Conditions of the respective trading bonus scheme, we regret to inform you that any trading bonuses previously granted to your Account(s) have been deducted with immediate effect and your Account(s) is/are no longer eligible to participate in any trading bonus schemes in future.

Kindly note that our decision in this matter shall be regarded as final and binding on all participants and that, other than the notification set forth herein, there will be no further correspondence on this matter.

Questions

1.i just would like clarity on how possible this is,....
2.i have been trading with Xm for two months with no issue, why are there problems now that im being profitable
3. i scalp the market and withdraw daily, not once have i ever utilized your bonus in any way . just because im given the bonus does not mean i utilize it..so which rule have i breached
4. you say that all trading bonuses granted to my accounts have been deducted, under what circumstance? you make it seem like i made profits through your bonus of which isn't the case at all,, and even if, what would the issue be in that regards
5 What is the meaning of Arbitrage in your understanding and how possible is it that i have defrauded the bonus Terms and Conditions
6. is it possible to withdraw the bonus if i may ask and why are my funds being deducted

I WANT MY MONEY BACK, MAN UP AND DO THE CORRECT THING

Fore those who will be continuing using XM all the best
 
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Hleki,

I have reviewed the issue raised and I can confirm that it was correctly decided to remove any bonuses from your trading accounts.

Particularly, please note that the trading patterns in your trading accounts raised serious concerns that the credit bonuses have been used in an abusive manner (i.e., “cash-back arbitrage” activities). At this point, I would like to stress the fact that according to Section D.7 of the Terms and Conditions of our Deposit Trading Bonus offering, our Company reserves the right to discontinue offering the “Deposit Trading Bonus” at any time. I quote the aforesaid clause below for your reference:

“The Company reserves the right, at its reasonable discretion, to discontinue offering of this “Deposit Trading Bonus Program” to any of its clients, without having to explain the reasons. Such clients will be informed via email.”

In view of the above, I can further confirm that you were accurately informed of the above by the relevant Department of our Company via email.

In conclusion, I would like to stress the fact that any actions taken by the Company in relation to this matter were fully in line with our Client - Company agreement which governs our business relationship, as well as with the Terms and Conditions of the Deposit Trading Bonus Program.

Thank you,
Province of Sofala, Mozambique,
Aug 28, 2020,
Registered user

A description of my wonderful experience with the brokerage XM

Service use: Live

Length of use: 3-6 Months

XM has been an exceptional broker for me, through it I and other traders believe I have room to gain more experience in the financial market. Great broker for those who want to trade in Forex.
 
Australia, Australia,
Aug 19, 2020,
Registered user

The account keep Clarification

Service use: Live

Length of use: 0-3 Months

I send the official real document to open my account
And I deposit the money in
Then they said I need to proved the address
Which I did and I did 5 ;time ! I send the official bank statement 6months one PDF and then waiting for a day and shows Clarification needed
This issue have been run again and again 4times
I send the email I Chet online stuff
No one want to explain and teach me how to do it
They always asked me waiting for department which in 24hours
Ok fine
I wait and one day one email and fix nothing
The customer service Cannot support customer
Make Clint worry and loss time
Now is already 5days and my account hasn’t been done !
Be careful this broker !
The service is really really bad
  3 traders have found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Jade10,

I have fully investigated the issue raised and I can confirm that your trading account under question was correctly not validated due to the fact that you had already had another real trading account with another company of our Group which was registered under a different Country.

More specifically, you submitted an application to open a real trading account and used a different country of residency than the one used in your previous, and still active, trading account. Please note that the latter cannot be accepted by our Company and therefore, your new trading account was not validated.

Further to the above, we can confirm that you had deposited funds in your trading account prior to its validation and few days after the opening of the account you requested to withdraw the said funds. Kindly note that as soon as the relevant Department of our Company was informed of your request, all necessary actions were taken in order for the relevant funds to be refunded.

In view of the above, I can confirm that any actions taken in relation to the subject matter were fully in line with our Terms and Conditions of Business.

Thank you,
Nigeria, Nigeria,
Aug 16, 2020,
Registered user

I haven't had any issue with XM services

Length of use: 0-3 Months

Am shocked to hear certain issues about XM and kinda wondering if it's the same company I registered with, traded for while and made withdrawal without any issue before I went on a sabbatical break. Am really shocked to hear all this... For XM is a good broker
  1 trader has found this review helpful
Beirut, Lebanon,
Aug 15, 2020,
Registered user

Very Bad broker Bad Execution Hates profitable traders

Service use: Live

Length of use: 0-3 Months

XM Very bad broker!!! XM executed my orders at different latter times than market price reach it which resulted in my loss.
I sent them logfiles to see my pending orders price were set before market price reached it first time but XM executed it later!!
For full 2 weeks XM didn't reply to my emails that were complaints of their failure system regarding those orders, then random emails arrived from random XM representative with nonsense excuses then lastly they sent me a link to their execution policy that they hide behind to cheat clients by executing their orders at times XM want!!!

Lastly, I had a pending buy order to be executed EURCHF 1.0743, XM executed it 1.07445 at 00.00 time!!! then they closed it at a loss 1.0744 despite my take profit was 1.07475 & market price reached 1.07482 but XM closed it at loss 1.0744!!

XM representative excuses were:

"Ok, i can see this order. You were having a lost. Remember that XM protects you with "Negative balance"
Then this: "XM protects your account with negative balance. You cannot lose more money than you deposited.
You had a lost."
Then this: "You cannot lose more money than you deposited."
Then this: "We cannot reimburse your loss, cause it closed at a profitable price, you were having a loss of -1.1"(Actually I lost 1.1 instead of profiting 10$)
Then this: "Let me explain you again. Your order was closed because you were having a loss."

CAN YOU BELIEVE THIS NONSENSE!!?? My order was floating at few dollars loss so XM closed it!!! KNOWING that there was no margin call or level or whatever affected in anyway!!!
But XM employees insisted on their ignorance!

XM SCAM broker is amateur manipulator cheater..XM never reply professionally to your email that proves XM faults/cheats!
That clearly proves that XM is a liar/manipulator or/& really very IGNORANT
If you are a profitable trader, XM plays dirty!
I doubled my account in 2 months then XM started cheating with many fake bad executions
Stay away of XM SCAM BROKER!!!
 
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Ed Forex,

In order for me to be in position to fully assist you, please provide me with your account number and the order under question.

Thank you,
Tape,
India, India,
Aug 12, 2020,
Guest

The company doesn’t resolve transaction issues

Service use: Live

Length of use: 0-3 Months

They say they have good customer care which is incorrect my deposits in account are not credited and when I raise issue they keep asking proof in different formats like screenshot pdf etc even after providing that they do not resolve the issue

They have done fraud twice on my deposits

Be aware of these frauds
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Aug 14, 2020:
Dear Tape,

Please provide me with your account number in order for me to be in position to further investigate the issue.

Thank you,
Johannesburg, South Africa,
Aug 11, 2020,
Registered user

Full of scams

Service use: Live

Length of use: 0-3 Months

I have traded with this broker and I can confirm that once you deposit your money , they try so hard that u do not get it back. And that starting bonus amount is a false advertisement tendencies which they use to lure traders into opening account.. this is what I have experienced, worse customer service , the stop loss is manipulated to take most of your money, you can never trade tight stop loss as they want to control how u should place your stop loss of which contradict your trading plan , I made a withdrawal on friday and today is Tuesday yet I haven't received my money , and lastly the starting bonus amount was not credited to my account because they say I violated terms and conditions of which they cant tell me what is it.... is like they were trained to hide their scamming behavior through terms and conditions that they will never outline for u....

If u are looking into losing money constantly , you can choose them..
XM is scamming its customers, better search for a different broker with good reviews.. Never and Never consider a broker with this much problems, and goodluck to all traders in search of a broker.
 
Reply by Chris Zacharia submitted Aug 14, 2020:
Dear Sydney ¹11111,

In order for me to be able to investigate further the issue, please provide me your account number.

Thank you,
Dhaka, Bangladesh,
Aug 5, 2020,
Registered user

Customer support is very horrible.

Service use: Live

Length of use: over 1 Year

My trading a/c no 53029912 server real 42 .
They are 1 mail send me your account ( We are writing to you regarding your account(s) no. 53029912(hereinafter “your Account(s)”) held with our Company.
Pursuant to 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 trading account will be temporarily suspended for the next seven (7) calendar days and then permanently disabled.

Hear i say what kind rules i break ? i send 3 mail that asking this matter, but they are not answer. i think its a horrible things.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Aug 14, 2020:
Dear Brokenheart,

I have investigated the issue raised and I can confirm that our business relationship was correctly terminated due to the fact that you have violated our Terms and Conditions of business.

Particularly, following investigation to your trading account, I can confirm that the trading patterns used in your trading account raised serious concerns that fraudulent activities were commenced in your trading account. Please note that the latter constitutes violation of our Terms and Conditions and as such, the business relationship was correctly terminated.

I can also confirm that you were accurately informed of the latter (i.e., termination of business relationship), via email, by the relevant Department of our Company.

Thank you
Kharar, India,
Jul 29, 2020,
Registered user

Xm is very bad broker.

Service use: Live

Length of use: 3-6 Months

Hello sir.
My name is deepak sharma from India.
my xm account number is 60894181.
I added my first deposit amount 6500rupees on 24th June 2020 via NetBanking. Transaction was successful but not update in my xm account. I sent many emails but they not gave me any resolution.
I deposit 5500 rupees again on 14th july 2020. But they guys again not add my money into my xm account.
Their support team seems like they don't want to help me.
I sent all my proof of transaction.
Don't trust xm. They steal your money without any warning.
  2 traders have found this review helpful
Cotonou, Benin,
Jul 29, 2020,
Registered user

They will close your account once you start making consistent profits

Service use: Live

Length of use: 0-3 Months

I own the following accounts at XM: 57036380,57043251,43124007. A while back, I deposited money and lost almost all of the funds and withdrew the remainder of my money. Last week, as I had some bonus (1.64$) in the micro account (43124007), I started trading and made 1.15$ profit within one week or so. That is the moment they sent me an email telling me that I am using "arbitrage cashback" and closed my accounts... I just want to warn those who still consider this broker, don't go there... They will be shining teeth at you when you are losing. Once you start being consistent, they will find excuses to close your account.

Oct 17, 2018 - No Rating Just terrible this broker. Technical problems or what, I can't say. But one word. Keep watch on your accounts or you will lose your money.

Oct 10, 2018 - 5 Stars They answered my question so, I will keep on monitoring my account to see how things go... For the time being, I have no reason to complain.

Oct 4, 2018 - 3 Stars Hi Chris Zacharia,

I'm the user who posted under the guest name "Just as it is"
I complained about my TP not being triggered and you said it doesn't make sense. So, here is my MT4 ID: 13201728

I see it is a complain from most of your client so, I would like to know what happened during the trading week of September 24 to September 28. You will notice that within that period, I manually closed my orders, because I found out that when my TP profits hit, they are not triggered.
Expecting your kind reply.
Peace

Oct 2, 2018 - 3 Stars Hi everybody,

I'm not a disgrunted user or a representative. This is just to let everyone know one fact about this broker: They do not trigger take profits on mico account.

I registered a micro account with them and deposited $5 to check them out. Up till them, everything was fine but, when I started scheduling orders, stop losses and take profits, things went awry.
Xm has never initiated my scheduled orders nor has it trigered my take profit. On the other hand, they almost always trigger stop losses. So, they could not pretend that it is only logistics problems.
Forewarned is forarmed: Don't trust them with your take profits. You cantrust them with your stop losses on the other hand.

Reply by Chris Zacharia submitted Oct 3, 2018 Dear Just as it is,

You make various accusations against XM which don’t make any trading sense. It is impossible for these events which you describe to happen.

I would be more than happy to check your case and transparently reply to you but I will need your account number in order to do so.

Please follow up with your account number.

Thank you,

Reply by Chris Zacharia submitted Oct 8, 2018 Dear "The Way it is",

I have checked your account.

The reason you are thinking your Take Profit (TP) orders are not being triggered is because of the following:

"Sell Orders are closed with Ask Prices and not Bid Prices".

The MT4 chart is generated with Bid Prices always so when you are looking at the chart you must always take into consideration the Spread in order to determine the Ask price which is ultimately the price that will trigger your Take Profit (TP).

As I noted in my previous reply it does not make any sense for XM not to trigger your Take Profit (TP) orders simply because we cannot choose to trigger them or not. If you input them in the system the server does that for you and has nothing to do with XM.

I hope my explanation was helpful and any doubts you may have had are now sorted.

If you have the kindness please change your rating and title on your original review now that the misunderstanding has been cleared out.

Thank you,

Reply by Chris Zacharia submitted Oct 24, 2018 Dear the way it is,

I have once again checked your account after I have explained what you were doing wrong on October 3rd 2018. From what I see you have been stopped out.

From what you post on your latest review I cannot understand what exactly is the problem. In your previous review you were confused and could not understand that "Sell Orders are closed with Ask Prices and not Bid Prices".

In order to possibly help you clarify your issues I have requested your account manager to contact you on Monday the 22nd of October. I have just followed up with the account manager and she has informed me that she has not been able to reach you via phone or email.

If you let us know what exactly is your complain/query or question in your latest review we will be able to help you.

Thank you,
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Aug 14, 2020:
Dear The Way It Is,

I have thoroughly reviewed the issue raised and I can confirm that the business relationship you had with the Company was correctly terminated due to the fact that you have violated our Terms and Conditions of Business.

Particularly,it has been identified that you were connected, through the same trading information (i.e., including but not limited to IP address), with former clients of our Company with whom our business relationship was terminated due to the violation of the Terms and Conditions of our Bonus Programs.

As I am sure you can appreciate, XM accounts are intended for your personal use only and our Company does not allow the management of trading accounts belonging to its clients by any third party, as the latter is considered to be violation of our Terms and Conditions of Business. In view of the above violation, and as you were accurately been informed by the relevant Department of our Company, via email, our business relationship was correctly terminated.

In conclusion, I would like to stress the fact that any actions taken by the Company in relation to this matter were fully in line with our Client - Company agreement which governs our business relationship.

Thank you,

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.