XM Review

3.022 · 643 REVIEWS

Trading Point of Financial Instruments

Updated: Apr 5, 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 #000261/158, CySEC #120/10, DFSA #F003484
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
Currencies: (55+)
Cryptocurrencies:
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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3.022 · 643 REVIEWS
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Traders Reviews

Gorakhpur, India,
Apr 3, 2021,
Registered user

Xm.com is the best ever

Service use: Other

Length of use: over 1 Year

Whatever the review they are giving but iam using xm.com since 2019 and they are great no deposit problem no withdrawal problem i give them 100 out of 100.Overall great service .
  1 trader has found this review helpful
bandung, Indonesia,
Mar 23, 2021,
Registered user

xm cancel my profit

Service use: Live

Length of use: 0-3 Months

I tried to register and started trading with xm

Just a few days of trading and getting profit from my trading, suddenly I got an email about the change in leverage from xm.
All trading profits that I made during the trade are deleted.
All for no apparent reason from XM.

Beware of trading with XM
They don't want you to win
Scam Broker
  2 traders have found this review helpful
bandung, Indonesia,
Mar 21, 2021,
Registered user

Exness not delete my profit trading and reduce my withdrawal amount

Service use: Live

Length of use: 0-3 Months

I trade with XM, and make profit trading,
But XM suddenly sent an email changing my account leverage.
Then they wiped out all the profits that I had so far.
When I contacted their support, their answers were convoluted.
They also didn't give a reason when I asked why they wiped out all the profit I got.

And they emailed me to be required to withdraw all my funds by them,
but when I withdrew my funds, they didn't pay it in full, they deducted about $ 600 from all my withdrawals.

Several days I kept asking about my problem to their support, but the answer I got was not clear.
Until the time I received an email that they had no more correspondence with the problem I was experiencing.

Disappointed broker and scam broker
Be careful with this broker, when you lose they are okay
But when you profit they won't pay it.
  2 traders have found this review helpful
Ibadan, Nigeria,
Mar 16, 2021,
Registered user

I lost my money because of XM

Service use: Live

Length of use: over 1 Year

Xm closed my opened trade at a loss, the price eventually reversed and i lost, I chat with them and i was told to send an email, i latter sent the email and i received the reply below
"Regarding your concern, please note you were informed by our relevant department about the status of your account. The decision is final. 
"
  3 traders have found this review helpful
Sadiq abad., Pakistan,
Mar 11, 2021,
Registered user

Xm is the biggest scammer broker.

Service use: Live

Length of use: over 1 Year

Xm is biggest Scammer group he closed my open positions 153 $ and also removed 1 week history ofmy mt4 account.
I have every proof screen shots and daliy confirmatin reports of my account.so everyone be alert and careful of this XM Scammer Broker.
  3 traders have found this review helpful
Lagos, Nigeria,
Mar 8, 2021,
Registered user

Speedy Response

Service use: Live

Length of use: 6-12 Months

I had problem of withdrawal.
Support responded within 1 hour.
Though yet to get my money.
Other withdrawals were executed within 4 days.No issues
 
Bukavu, Congo, The Democratic Republic of The,
Mar 1, 2021,
Registered user

Inability to use the proposed leverage effect

Service use: Live

Length of use: over 1 Year

I have been using Xm since 2017, and everything was fine, I was really losing more 'money than I was making and until August 12, 2020 when I spotted a really good opportunity that I jumped on on NZDUSD and make a really good profit of over $ 3000 which allowed me to cover all the losses I had experienced before. And this is what raged at the broker, so they changed my leverage by forbidding to use leverage above 1: 100 while he offered 1: 888, then all my bonuses were taken from me , then he offered a possibility to withdraw the profit by bank, when I tried they told me that they cannot authorize my withdrawal by bank. So many complications followed and I asked myself why all this today? Why wait until the day that I become profitable to change their policy when I have already been using the same strategy for 3 years? I believe that with xm everything is fine if the client loses money but as soon as you become profitable expect unpleasant surprises. I don't recommend this broker if you want to become a professional trader.
 
Kampala, Uganda,
Feb 27, 2021,
Registered user

Possibly the best retail forex broker globally! Absolutely superb service!

Service use: Live

Length of use: 0-3 Months

Trading experience - Platform response - 5/5
I joined and got validated on XM in early February 2020. I began trading with a fairly decent account that has since grown close to 190% largely due to the ability to utilize my strategy on their ultra low standard accounts where the spreads are low - based on the industry average - above average spreads favourable for most assets.

Customer care - 5/5
The customer care service is just a button away in the members area! Available in under a minute from clicking the button. They are quick to guide and assist on whatever you ask them.

Access to funds - Settlement/Withdraw - 5/5 - Industry best
Withdraws or settlements typically take under 2 hours via the MOBILE MONEY(AIRTEL OPTION) which is quite fair. I also notice that the currency conversion rate is taken at market.

Education - 5/5 - Industry best
The research and metrics shared via their research and education is surely quite the best. The only broker that can compare to them is IG but still XM beats them at indepth analysis. Believe me when I say so as I am in research and analysis in my dayjob.

Final Comment:
I respect other people's reviews but those trying to tarnish XM. Please step up to the challenge or opt for another broker but don't bring it down especially when their services are surely unprecedented! I overall give them a 5/5 - 100%
  2 traders have found this review helpful
Brits, South Africa,
Feb 19, 2021,
Registered user

Xm is a lie

Service use: Live

Length of use: over 1 Year

I made a review ealier saying xm is a scam and i stand by that, after xm telling me to send my bank statements i did... they said to me i selected nedbank instead of standard bank... i cooled down last month i started calling the banks and they said they would have reversed it the very first week... and xm is telling me to wait for it to return and its gonna be 4 mounths next month its time i accepted that im not getting it back and be done with xm

Dec 2, 2020 - 1 Star I always lost my equity because but i dint mind i was learn finally i was starting to profit now that i withdrew my deposit they said i can't withdraw with my card anymore i must choose another method i chosen bank wire and they sent me and email saying it was successful now and haven't recieved anything yet since last week Wednesday when i send them an email they dont respond back at me

Reply by Chris Zacharia submitted Dec 10, 2020 Dear Server1,

Please note that I have investigated the issue raised in your review and I can confirm that your withdrawal request under question was correctly and successfully executed by our Back Office department as per our internal withdrawal procedures.

Notwithstanding the above, you have contacted our Company claiming that you did not receive the relevant funds as such, our personnel correctly informed you that in order for us to be in position to escalate the case we need some supporting documents. More specifically, you were requested to provide us with a Bank Statement starting from the date of the withdrawal (i.e., 25/11/2020) as proof of non receipt of the funds so as to investigate further with the Bank.

Due to the fact that we were not provided with the requested document, the relevant department of our Company was not in position to escalate the case and as such, I would like to inform you that once we are provided with the requested proof, all the necessary actions will be taken.

Thank you,
  2 traders have found this review helpful
Sorawit,
Bangkok, Thailand,
Feb 17, 2021,
Guest

SCAM broker

Service use: Live

Length of use: over 1 Year

I withdraw about 48 hour after approved from XM,
Now I don’t get my money.
I contact support at multiple time, but no good answer.

Now, my money disappeared

Disappointed broker and very bad broker in the present.

Feb 16, 2021 - 1 Star I request for withdrawal my fund, this is delay more than 24 hour, I don’t get to my money.
Before I believe in this broker.
Now, this broker is scam broker for me
  2 traders have found this review helpful
Colombo, Sri Lanka,
Feb 15, 2021,
Registered user

Terminating profit making accounts

Service use: Live

Length of use: over 1 Year

I was with XM few years. They were very good as far as I was making losses in my trading account.
As soon as I started to make consistent profits, they suspended my account and feezed all funds.

The explanations given were not consistent.
Once they said, my trading was overloading the servers.
When asked for further details, they said it was a technical error.
When the suspension happened again, they said, my trading style was violating their agreements.

Perhaps, their expectation is the trader to loose money always.

- Chan
  2 traders have found this review helpful
Jakarta, Indonesia,
Feb 8, 2021,
Registered user

Complete scammer,

Service use: Live

Length of use: 0-3 Months

My account suddenly got terminated. They said on the email that

"In that regard, our Anti-fraud Department has brought to our attention that your Account is connected to an account that had been previously terminated because of the violations of the Client Agreement."

This is my first account and how can it be connected with another account. Called account manager, he said that he cant do anything and the decision is made by the main office. He can't give me any reasons and immediately hangs up. I've lost all of my investment.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Feb 17, 2021:
Dear Consorbar,

I have reviewed the issue raised and I can confirm that our business relationship was correctly terminated due to the violation of our Terms and Conditions of business.

Particularly, I have been informed that we have evidence confirming that you were connected, through the same trading information, 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 Deposit Trading Bonus program.

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, it was correctly decided to terminate our business relationship with immediate effect and you were accurately informed of the latter by the relevant Department of our Company, via email, on 08/02/2021. In addition to the latter, I can confirm that as per our Terms and Conditions of business, please note that any profit/loss generated from trading was considered as void and was correctly forfeited. I can further confirm that any amount deposited in your trading account was sent back to the initial source of deposit.

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,
Pretoria, South Africa,
Feb 4, 2021,
Registered user

Forex Broker - Settle My Case XM.com

Service use: Live

Length of use: 6-12 Months

Dear Chris Zacharia, your responses serve to prove the point that XM.com just hides behinds its many licenses it holds with different bodies. However XM.com is the website that XM.com uses to entice people. Lets call a spade a spade. You like to respond in your smart language. The bottom line is the letters are addressed to XM.com. Safecharge is the mechanism you use to move funds out & in. Let us not kid around & settle my case. 

Jan 29, 2021 - 1 Star XM.com is the worst broker in the worLd.. They have the worst service.. Provide a High Leverage & out to steal your money.. I have an ongoing dispute with them which remains unresolved.. They refuse to give me a case number to refer my case to the Cyprus Securities and Exchange Commission (CySEC) (licence number 120/10), International Financial Services Commission (IFSC) (license number 000261/106), Financial Conduct Authority (FRN: 705428), Australian Securities and Investment Commission (AFSL 443670). I still await a resolution to my dispute.. They are the worst broker ever.. Do not support or deposit funds with these thieves.. They offer an addictive & destructive product.. Stay Away from them!!! I want my $35,000!!

Apr 23, 2020 - 1 Star Good Day,

Hope this email finds you well.

The Cyprus Securities & Exchange commission has asked me to provide it with a CIF reference number to lodge a case.

To date i have not received a CIF Ref Number in correspondence?

Please provide me with a CIF Ref Number?

At no point did xm.com refer me the the Cyprus Securities & Exchange commission.

Attached is my complaints to be lodged to the Cyprus Securities & Exchange commission.
.
Kind Regards

#NoResponseReceivedFromXM  Do not use xm.com as you will loose you money like me!  XM.com #The Kings Of Ducking And Diving

I am in $35,000 of Credit Card Debt Because of xm.com

Be warned, they are the worst from my experience!

Reply by Chris Zacharia submitted Apr 30, 2020 Dear Moey007,

First, I would like to inform you that the trading account provided is under XM Global Limited and therefore, your business relationship is with XM Global Limited. In view of the latter, please bear in mind that XM Global Limited is authorised and regulated by the International Financial Services Commission ("IFSC") and as such, the Cyprus Securities and Exchange Commission ("CySEC") is not the competent authority to review your complaint.

Notwithstanding the above, please note that I have investigate the issue and I can confirm that an official response has been sent to you by the relevant Department of our Company in relation to the subject matter, via email, on 21/05/2019, on 25/02/2020 and on 28/04/2020.

In this respect, I would like to stress the fact that the issue you are raising in your emails concerns only you and the relevant third party and our Company cannot be considered a party or that it is involved in any way in the dealings/relationships its clients may potentially have with any third party.

In view of the fact that our Company is not, in any way, involved in the subject matter, I can conclude that there is no basis to raise a complaint against our Company and I can reject your claims that you have not been properly assisted by our personnel in regard to this case.

Thank you,
  1 trader has found this review helpful
Vickey,
Ukraine, Ukraine,
Jan 30, 2021,
Guest

Don't trust them!

Service use: Live

Length of use: 0-3 Months

I am a disable from Ukraine. I decided to try forex. Disables in Ukraine have a too small pension. I've send $20 to xm account. I losed my money. After that, I decided to delete my account. But there is a problem. There is $0.91 on my account. I can not to trade using these money, because it's a small amount and I can not to withdraw them. Support sad that I have to send money to xm account again. I told them, that I have not money anymore. So, I write them for a week. Nobody can help. They just say: Ok! Today we will decide your problem. But it is all FALSE!!!
What do I have to do? - I don't know.

Also, according to the Privacy Policy of xm.com, I want they to delete all my documents and all informotion about me.

Give me some advice, please, where do I have to write to solve this problem, if you know.

Have a nice day!
  2 traders have found this review helpful
Leo Rellona,
Tacloban City, Philippines,
Jan 18, 2021,
Guest

Super Legit Platform

Service use: Live

Length of use: 0-3 Months

I like this platform! Super legit! The customer care is accessible! I recommend this platform for you!
 
Ahmed Bawazir,
Hadhramout, Yemen,
Jan 2, 2021,
Guest

Trusted Company 100% !

Service use: Live

Length of use: 0-3 Months

I have started trading with real money on December 7,2020 and at the end of the month Thursday 31 my account was up approximately 53 % .

Everything is working more than expected. And if there is more than five starts for evaluation I will give them all the starts in the sky. What a wonderful company !!!

They are very honest and sincere and think of clients more than themselves. Any question I ask I get a prompt reply from professional works that really appreciate to help you make money as they earn money too. It is a Win Win game.

In short, there is no company as good as xm.com it is really the business itself.
 
Jakarta, Indonesia,
Dec 31, 2020,
Registered user

Deposit easy, but Its difficult to withdraw

Service use: Live

Length of use: 0-3 Months

Hi,

I ve been trading for 2 months use XM broker, yesterday as i want to withdraw quite large above 3000usd suddenly they ask for scan of my bank account with my name on it, i understand that this is for security.

So I sent them as they request, but then they reply I need to sent from my registered email. Now the registered email using gmail that has dots, they receive my email without dots( so they assume its not registered how come since they sent all the daily confirmation to my same email address)

So i ve already change the email with dots and until now there is no reply from them

I just got info that XM has been awarded with best global forex 2020, and I hope they act like one
 
Fad,
MY, Malaysia,
Dec 26, 2020,
Guest

Good broker

Service use: Live

Length of use: over 1 Year

I recommend xm becoz i personally a swing trader with a tight MM, swing trading works well on xm.
 
Johannesburg, South Africa,
Dec 23, 2020,
Registered user

Strange price action and stop out process

Service use: Live

Length of use: over 1 Year

Hi FPA family,

I am utterly disappointed with XM, yesterday they recorded a lower price compared to other platforms and brokers. Due to this irregular behavior and price move, my positions were stopped out and thus disrupting my day, throwing me off balance completely.

Can anyone let me know if such behavior is possible? Customer support always gives you generic response, the feeling of helplessness when you discover your broker does not have your best interest at heart is devastating.

I am now convinced that perhaps I should look for another broker.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Feb 16, 2021:
Dear Pipguy,

I have thoroughly reviewed the issue raised and I can confirm that the orders which got stopped out on 22/12/2020, were correctly executed (i.e., closed) due to insufficient margin in your trading account during the timeframe under question.

Particularly, due to the market movement at that time, which was not in your favor, the margin in your trading account fell below the minimum required of 20% and the automatic stop-out mechanism was initiated. Furthermore, please note that the stop-out mechanism starts by closing the most loss-making order every time the account reaches the stop-out phase and once the margin in your trading account exceeded the 20% required margin no other positions were stopped out.

For your better understanding, as per our calculations and the information available in the journal file of your trading account, it is clear that the margin of your account was not sufficient to support your open orders (i.e., the margin was below 20%). More specifically, the available equity in your trading account at the time of stop-out of your first order 42553430 was ZAR 156.5 whilst the required margin at that time was ZAR 880.3. The latter means that your margin was below the required 20% (i.e., 17.8%) and as such, your order was correctly stopped-out (i.e., 156.5 / 880.3 x 100 = 17.8). Following the stop-out of this order, the rest of the aforesaid orders were also correctly stopped-out due to insufficient margin. Please note that once your margin reached the minimum required of 20% no other orders were stopped-out.

Please note that in case you wish for me to investigate a specific order, I will need the order number in order to proceed with the relevant actions.

Thank you
brazil, Brazil,
Dec 2, 2020,
Registered user

completely SCAM

Service use: Live

Length of use: 0-3 Months

I am new to FPA, but I have been looking at the site for a long time, I saw the alerts about xm, but as I had support in Portuguese I decided to take a chance, I figured that the problems described might not occur to me!
it was a big mistake on my part, i made some deposits, and i went through unsuccessful operations i lost a good amount of money at xm, so far so good, they are not to blame for that. When I finally make a new deposit and I have a "good" day, I deposited 100 and made 105.71 of total profit 105.71, I thought I will make a withdrawal and continue using the broker, that's when my headache started, I asked for the withdrawal via neteller, in which I had already deposited an amount, my withdrawal was denied and I was asked to withdraw via an astropaycard which had been the method of my last deposit, I went to the chat to complain, because I know about the money laundering law, I should be able to withdraw a part by neteller, after much discussion I was informed that I should withdraw by astropaycard, I accepted and withdrew, but in just 2 minutes after leaving the chat the following email arrived:

Important news
Dear Client,

We are contacting you regarding account (s) number 40025313 ("Your account (s)") maintained at our Company.

The trading patterns in your account (s) raise serious concerns regarding the trading bonuses credited to your account (s), as these were used in “cash-back arbitration” activities.

In accordance with the Terms and Conditions applicable to our credit bonuses, the following activities qualify as "cash-back arbitration":
Any form of commercial arbitration
Bonuses claimed by multiple accounts that have been registered using the same IP address
Various bonus handling practices
Violation of any points that are included in our bonus terms and conditions
Any fraudulent activities, disputes or situations that our Company considers to be fraudulent.

Given the fact that your account (s) trading patterns do not comply with the terms and conditions of the respective trading bonus program, we regret to inform you that any bonuses previously assigned to your account (s) will be deducted, with immediate effect and your account (s) is / are not eligible to participate in any future trading bonus programs.

Please note that our decision on this matter must be considered as definitive and binding on all participants and that, in addition to the notification set forth hereinafter, no further correspondence will be made on the matter in question.

Regards,
The XM Team

I know that there are people who abuse the bonus programs, but it is not my case, I would be very happy if XM pointed out a concrete proof to the FPA, because accusing customers of having broken the rules at random is very easy for them to steal customers ! and all this happens only when you ask for a withdrawal! while I was losing money with them everything was great, everything was beautiful, it was me having a small profit that started this antics!
it is not a large amount, but note that in the current situation it is complicated to keep losing small amounts! the worst is the feeling of helplessness that we have when dealing with these scams!
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Dec 10, 2020:
Dear edsonw,

I have further investigated the issue raised in your review and I can confirm that it was correctly decided that you will no longer be eligible to participate in any trading bonus programs, due to the nature of your trading activity.

Particularly and for your better understanding, please note that the trading patterns and trading behavior in your trading account(s) held with our Company indicated that you were exploiting arbitrage opportunities. As you were accurately informed by the relevant department of our Company via email, any actions taken in relation to your trading account(s) were fully in line with our Company’s controls and procedures. At this point, I would like to stress the fact that no adjustments were performed to your trading account(s).

In view of the above, kindly note that the same trading conditions will apply to any new trading account(s) registered with our Company. In this respect, I regret to inform you that your request to remove these trading conditions from your trading accounts is rejected.

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 and further confirm that we always abide by the Client - Company agreement which governs our business relationship.

Thank you,
Santiago, Chile,
Dec 1, 2020,
Registered user

I can't withdraw

Service use: Live

Length of use: 0-3 Months

Since 3 weeks i can't withtdraw mi profit of welcome bonus. The suport
system is too bad. They dont offer solutions. SCAM?
  3 traders have found this review helpful
Reply by Chris Zacharia submitted Dec 10, 2020:
Dear Eduardo Zegers,

I have further investigated the issue raised and I can confirm that the reason as to why your withdrawal requests are being rejected is due to the fact that the bank details submitted are invalid.

Particularly and as you were accurately informed via email by our Back Office Department, we were unable to proceed with your withdrawal requests, as the Bank Account information you have provided us with was incorrect. At this point, I would like to stress the fact that you submitted several withdrawal requests using different Bank accounts; however all of them were bouncing back as invalid.

In addition to the above, I can further confirm that you were requested to provide additional documentation in order to prove that all bank details you input were correct, but we never received any documentation from you and as such, we could not raise the case to our Payment Service Provider.

I would like to assure you that it is not our wish to trouble our clients and further confirm that upon receipt of the requested documentation, the relevant steps will be taken.

Thank you,
turkey, Turkey,
Nov 28, 2020,
Registered user

Low Lavrage

Service use: Live

Length of use: 6-12 Months

The big disadvantage of this broker is that if your account amount exceeds $ 20,000, your account will automatically decrease, and this is very BAD .
  1 trader has found this review helpful
Untrasried, Germany,
Nov 11, 2020,
Registered user

They wanna kiding us

Service use: Live

Length of use: over 1 Year

->->->->->->->"Is hedging allowed on XM MT4/MT5 trading accounts?
Answer:

Yes, you can hedge your positions as much as you can with XM.

The margin requirements will be balanced out and there is no required margin for hedging with XM.

However, for hedging CFD instruments, margin is only required once.

*Even when hedging positions, the required margin can be increased due to market conditions.
Please note that XM does not allow ‘Arbitrage’ trading on their trading platforms.

There are certain rules to protect other traders and the broker’s benefit. For more information, please refer to XM’s terms and conditions or contact the support team. <-<-<-<-<-<-<-<-<-<-<-<-<-<-

Chris Zacharia want to kiding me and all his customer. They said, that hedging is allowed but they close accounts, which use hedging. That makes sense!

Oct 21, 2020 - 1 Star ---------- 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,

Reply by Chris Zacharia submitted Oct 30, 2020 Dear At0nu5,



Following investigation of your trading accounts and trading activity, I can confirm that our business relationship was correctly terminated due to the fact that you were placing opposite orders within your trading accounts. Kindly note that the latter is also confirmed by you in your review above.



This cannot be deemed as an acceptable strategy as you create an environment which does not follow the fair rules of trading and makes the strategy in a way risk free and therefore not permitted. It should be also noted that the latter constitutes a violation of our terms and conditions of business. In addition to the previously-mentioned, I can confirm that the remaining balance in your trading account has been withdrawn.



In view of the above, I regret to inform you that unfortunately, due to the above violation, we are not in position to accept you as a client again.



Thank you
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Dec 1, 2020:
Dear At0nu5,

Kindly note that our Company allows its clients to use the hedging strategy; however, by placing opposite orders in-between your trading accounts, you create an environment which does not follow the fair rules of trading and makes the strategy in a way risk free(i.e., exploiting arbitrage opportunities) and therefore not permitted.

Due to our “no negative balance” policy, the trading strategy described above would have limited the potential loss to the entire balance of the account having the loss-making position and the account having the profit-making positions to have unlimited upside potential which would duly cover the losses suffered in the loss-making account.

In this respect, kindly bear in mind that the above cannot be deemed as an acceptable strategy and it is considered as a violation of the Company’s Terms and Conditions of Business.

Thank you,
Malaysia, Malaysia,
Nov 8, 2020,
Registered user

Don't expect to withdraw your profits from XM broker!

Service use: Live

Length of use: 0-3 Months

Using the free 30 USD provided by XM, I made some nice profits on my XM account.

However, when I wanted to withdraw some of my profits, they actually deducted all the money balance in my account. Their "reason": I violated their "terms and conditions" and so they have the right to deduct ALL THE MONEY in my account!
  4 traders have found this review helpful
Reply by Chris Zacharia submitted Dec 1, 2020:
Dear pihaforex,

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

Thank you,
kolkata, India,
Oct 29, 2020,
Registered user

Very Good Broker

Service use: Live

Length of use: 6-12 Months

I opened an account after reading the good reviews here and started to trade with them since 2019 . Sometimes the spreads are high compared to other brokers but that is managable if you are not scalping .Last month i cameback to forexpeacearmy to read latest reviews and to my suprise lot of them were negative . I read how clients had trouble withdrawing their funds . So i got worried a lot and after a long thought decide to test them. I made a withdraw yesterday through online bank transfer and it took less than 24 hours to reach my bank account .I am very satisfied by their service and would highly recommend them .Most of the negative reviews related to the broker is based on the no deposit bonus which is a non issue for me . I have given them 4 stars because of sometimes the spread goes up for no reason and there is no facility for mam options
  1 trader has found this review helpful

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.