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

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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

James Mani,
United States,
Jan 20, 2011,
Guest

The 1pip spreads are simply wonderful. The potential to make real large profits is very high here. Like other traders, as soon as this broker opened up, we left our current brokers so we could trade at lower fixed rates on metatrader. I made about 400 pips profit and withdrawn without issues. Great broker...ALSOO THANKSSS FOR THE BOOONUUSSS !!!
 
Don,
Thailand,
Feb 6, 2011,
Guest

I'm very satisfied with this broker.Customer care is really good.MT-4 trading platform is working fine.No problems at all.PayPal deposit is Extremely fast.Trading server was great no disconnect during big news event.I would have to recommend this Excellent brokers.
 
Lois,
UNITED STATES,
Feb 12, 2011,
Guest

This broker is the best. They go out of their way to make their
customers happy. I have never been with a borker with so much
class. I give them a BIG 5


2011-02-08 5Stars I just signed up with this broker and all I can say is WOW!!!!
Their Customer service / Support is OUTSTANDING !!!
Too soon to let you guys know anymore but so far so very good.This is why I am giving them 5 Stars. I will you posted if I should found out any more.
 
Brett Turley,
Florida, USA,
Feb 16, 2011,
Guest

I have used all of the high-rated fx brokers in the past. I have watched Trading point vs forex.com and IBfx on MT4 side by side. Trading point provides slightly tighter spreads, no requotes ( yet, I haven't traded this account during high volatility news conditions) They also offer trades vs. oil, gold, silver, and mini DOW futures.

Customer service: Best I have ever experienced with any broker EVER. telephone and email responses within minutes at times.

I can't find anything negative to say about Trading Point. I'm a small time trader and my account is under $5k, and i am treated like I matter. Also, I love the Paypal deposit option (thought you cannot withdraw that way)
 
New TradePoint Customer,
USA,
Mar 14, 2011,
Guest

I have tried many different brokers and this company is right now the best I have tried. Excellent execution. Instant deposit with paypal. Don't know about withdrawals yet though. So far so good. Hope tradepoint keeps up the great service and execution.
 
Rick,
China,
Mar 16, 2011,
Guest

They doing some major working mistakes and mannered service.

1. On Feb 18, 2011, I opened an live account for forex trading in this company, the account manager is very friendly with me, but when I deposit the money to my account, they attitude chang very cold to me, I sent several email to confirm some account information, they didn't reply to me anymore.
2. When I start to trading, I usually ask my account manager for sth, and the another account manager told me he is not available, either in meeting or go out for doing other things, anyway I could not contact my account manager till now.
3. Their platform not send the Daily Confirmation email to me and they promise they will after I open the live account indeed. I ask they to send this email everyday, they said already sent, but I am still not received, my email spam folder is empty and not set any blacklist, moreover I replaced another email address, but still not received it.
4. On March 8, 2011, I sent a withdraw request, but until the March 14, I still not receive the money, I ask them to sent me the bank wire receipt, I found the Beneficiary Name is actually wrong! One of the letter should be 'i', they write it to 'l', so the money delay more than 2 days.

I already sent the Complaint Letter to FSA UK and CySEC, I wish these things to remined us to keep this broker away and the regulator organization really do sth to punish this kind of company! And strengthen the verify process, not permit these scam to authorized.
 
Chris A. Zacharia,
Cyprus Europe,
Mar 19, 2011,
Guest

Christian A Zacharia, representative of Trading Point of Financial Instruments

Dear Mr/Mrs Rick

After closely reviewing your post under our brokerage rating I have taken the time to very closely cross reference all the information which you disclose in the above "review" to protect the reputation of Trading Point of Financial Instruments.

Please note the following very carefully:

1. The name or "nickname"
 
Stavros Dimitrakos,
Athens Greece,
Mar 27, 2011,
Guest

I am a returning customer at Trading Point and I think the negative comments are not fair at all for a broker of this caliber;

I'm Greek and have traded with various brokers that have presence in Greece and can say that the service and overall quality of execution is superior at this broker; I have traded with many brokers including the very high advertised ones and only to be fair I can say that trading point is very fair, fast and prompt with service.

Currently hold a balance of 2000 Euros have withdrawn 4 times till now with no problems;

Market Execution is very fair and the support is very good and quick; I totally recommend this company from my personal experience.
 
Mr. Richie Jr,
UK,
Mar 28, 2011,
Guest

As I am quite skeptical by nature I was quite surprised to see that a broker offered a no rejection and no re-quotes policy and as such tested them out with $10 and carried out countless trades on 0.01 micro lots which meant that my P/L hardly moved. I was pleased to see that after 84 trades none of my orders were rejected/re-quoted. Also when I tested their withdrawal process, it was relatively prompt; I got a confirmation of my withdrawal within 12 hours of my application for a withdrawal.

I began in the middle of January with this Broker and have since then felt confident enough to deposit a little over $1000. I have not made a profit so far (I need a new system), however I have been looked after well, through their chats and a Mr. Chris (my account manager) and am pleased with the fact that I still have not received any re-quotes and what's more all of my trades are instantaneously processed.

I would definitely recommend this broker; so far I have not faced any issues on or off the trading platform with them and am satisfied with the service. The only thing keeping me from giving them the full five stars is that they do not have a web based platform which would really be beneficial for me.
 
Tom, S.,
UK,
Mar 29, 2011,
Guest

Here is a breakdown of my experience with this broker:

• Very fast execution; all of my orders have been filled.
• Great support from my account manager
• Disappointing to not have a web-based platform
• Spreads can widen at night as they are variable; they did offer me fixed spreads, but I prefer variable as I can get 1 pip between European and US session
• Deposit and Withdrawal not the fastest but still done within a day
• Very happy not to have been given a re-quote so far

It may be a little early to speak, but so far I would have to say that this is one of the best brokers I have used; all brokers have their pros and cons, but the fact that all my orders are instantaneously filled is a huge pro from me. I will continue trading; have not withdrawn yet but from other reviews I have read about TP this should not be an issue
 

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.