XM review: Regulations, Platforms, Features and Ratings.
3.108 •
686 REVIEWS
Trading Point of Financial Instruments
Also XMTrading.com
Also XMArabia.net
Updated: Nov 15, 2023
•
XM.com
5 star XM broker review by Kiran, India
... I have an Ultra Low account and the spreads are almost tight (0.8 pips on EUR/USD). Execution time is good. But the best thing I like about XM is that they are providing local bank INR deposits and withdrawals for India, in a seamless manner. I deposited and made a withdrawal too without any hassle from my bank account. The withdrawal amount was transferred into my local Indian bank account on the 2nd working day of placing the request. It's awesome. I would surely recommend this XM broker for any Indian client.
What is XM Forex?
XM Group is a group of regulated online brokers:
- Trading Point of Financial Instruments Ltd was founded in 2009 and regulated by CySEC (Cyprus) became the first member of XM Group;
- Trading Point of Financial Instruments Pty Ltd was established in 2015 and it is regulated by ASIC (Australia);
- XM Global Limited was established in 2017 and is regulated by the FSC (Belize);
- Last member of XM family - Trading Point MENA Limited was established in 2019 and is regulated by the Dubai FSA.
XM trading offers full edition of the popular MT4, MT5 platforms which includes numerous proprietary indicators. XM TV provides daily forex news videos and market analysis, also available as an audio podcast.
Additionally, XM clients can benefit of Autochartist, Analyzzer, and ideas from Trading Central and of course the MetaTrader marketplace.
Please note that the products, services, and features advertised here vary between the XM entities. For
further information, please visit the XM website.
Please read XM Reviews below and share live trading experiences with this broker.
Broker Details
| Minimum Trade Size: | 0.01 |
|---|
| Maximum Leverage: | 1000:1 |
|---|
| 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, FSC #000261/397, CySEC #120/10, DFSA #F003484 |
| Prohibited countries: | Show all >> |
| Trading platforms: | MT4, MT5, XM App |
|---|
| Web Trading: | ✅ Yes |
|---|---|
| Mobile Trading: | ✅ Yes |
| Currencies: | (50+) |
|---|---|
| Cryptocurrencies: | (30+) |
| CFD: | (940+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities |
Trading Conditions |
|
| EAs/Robots: | ✅ Yes |
|---|---|
| News Trading: | ✅ Yes |
| Scalping: | ✅ Yes |
| Deposit Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill |
|---|
| Withdrawal Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill |
|---|
3.108 •
686 REVIEWS
XM Most Helpful Customer Reviews
B
br141
DKI Jakarta, Indonesia,
Nov 8, 2022,
Registered user
Fast Withdrawal, Good Customer Service, and Honest Broker
Service use: Live
Length of use: 6-12 Months
Wowww, XM withdrawal process is very fast within 1 hour with online bank transfer in Indonesia. I'm amaze how they can do this so quick for the withdrawal. Overall, my review is 5 star for this perfect broker. I'm a user, not a paid person to write a good review. Soo, this review is came out from user.
The customer service is so helpful and there is no price manipulation. I hope XM could improve more by applying a fix rate deposit such as $1 = Rp.10.000 so trader could trade with more balance and espescially there is no spread from the local depositor.
PLEASEEE. IF YOU ARE A SERIOUS TRADER, DON'T TAKE THE BONUS ACCOUNT. Because there is a lot of rules that you need to obey in order to trade at XM. Most problem is came out from the bonus account user who against the rule.
XM is a honest and trusted broker, i recommended this broker for you all -BR141
The customer service is so helpful and there is no price manipulation. I hope XM could improve more by applying a fix rate deposit such as $1 = Rp.10.000 so trader could trade with more balance and espescially there is no spread from the local depositor.
PLEASEEE. IF YOU ARE A SERIOUS TRADER, DON'T TAKE THE BONUS ACCOUNT. Because there is a lot of rules that you need to obey in order to trade at XM. Most problem is came out from the bonus account user who against the rule.
XM is a honest and trusted broker, i recommended this broker for you all -BR141
2 traders have found this review helpful
mrgr33n47
Western Cape, South Africa,
May 18, 2022,
Registered user
Trading with them Since 2020, great broker.
Service use: Live
Length of use: over 1 Year
I've been with XM since 2020, they are a good broker from my experience so far until this year of my review 2022. Easy deposits and easy withdrawals. I've never had a problem withdrawing from them. With their micro accounts they made it easy for beginners to start trading small which I love a lot. Their account bonusses really helps a lot as a beginner trader also. They are recommended by me for a fact if you are just starting out. When you get more experienced you can select a different account from them and still enjoy them. Thank you XM for the great work so far.
K
Kiran
Bangalore, India,
Jun 15, 2021,
Guest
Good broker for Indians
Service use: Live
Length of use: 0-3 Months
I am from Bangalore, India. I have an Ultra Low account and the spreads are almost tight (0.8 pips on EUR/USD). Execution time is good. But the best thing I like about XM is that they are providing local bank INR deposits and withdrawals for India, in a seamless manner. I deposited and made a withdrawal too without any hassle from my bank account. The withdrawal amount was transferred into my local Indian bank account on the 2nd working day of placing the request. It's awesome. I would surely recommend this XM broker for any Indian client :)
1 trader has found this review helpful
Mohammad EL Henawy
Tanta, Egypt,
Jun 14, 2021,
Registered user
Good overall broker
Service use: Live
Length of use: 0-3 Months
I tried the Ultralow micro account, spreads where tight as promised, even during news times, it was still better than i some other brokers.
i did compare spreads myself.
Regarding deposit and withdrawal, i used skrill, deposit was literally instant, withdrawal took 30min max.
Chat support is good, agents respond pretty fast and are aware of the details, i liked it too.
what i didn't like was the MT5 platform, the news tab wasn't working, i had to keep switching windows to stay updated, i hate that.
and autochartist can't be integrated with the XM MT5 account, live chat agents couldn't help me regarding these two matters.
and the XM mobile app, it is not good at all and way too simple, I had to use MT5 mobile app if i wanted to do some decent analysis on the go.
overall, XM is a good broker and i liked my experience despite these downsides, but had to leave XM for a better platform at another broker.
i did compare spreads myself.
Regarding deposit and withdrawal, i used skrill, deposit was literally instant, withdrawal took 30min max.
Chat support is good, agents respond pretty fast and are aware of the details, i liked it too.
what i didn't like was the MT5 platform, the news tab wasn't working, i had to keep switching windows to stay updated, i hate that.
and autochartist can't be integrated with the XM MT5 account, live chat agents couldn't help me regarding these two matters.
and the XM mobile app, it is not good at all and way too simple, I had to use MT5 mobile app if i wanted to do some decent analysis on the go.
overall, XM is a good broker and i liked my experience despite these downsides, but had to leave XM for a better platform at another broker.
KAJEMBA
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.
Reply by Chris Zacharia submitted May 19, 2021:
Dear KAJEMBA,
I have investigated the issue related to your review and I can confirm that any actions taken in relation to your trading account with our Company were correctly and fully in line with our Company's Terms and Conditions of business.
Particularly, I can confirm that the leverage ratio in your trading accounts is set to 1:100 and you will no longer be eligible to participate in any trading bonus programs, due to risk management procedures and the nature of your trading activity.
As per my investigation, the trading patterns and trading behavior in your trading accounts were indicating that you were exploiting the applicable leverage ratio of the said trading accounts aiming to solely benefit financially during trading hours where market volatility is significantly high.
In view of the above, I would also like to inform you that the same trading conditions will apply to any new trading account(s) registered with our Company.
Thank you
I have investigated the issue related to your review and I can confirm that any actions taken in relation to your trading account with our Company were correctly and fully in line with our Company's Terms and Conditions of business.
Particularly, I can confirm that the leverage ratio in your trading accounts is set to 1:100 and you will no longer be eligible to participate in any trading bonus programs, due to risk management procedures and the nature of your trading activity.
As per my investigation, the trading patterns and trading behavior in your trading accounts were indicating that you were exploiting the applicable leverage ratio of the said trading accounts aiming to solely benefit financially during trading hours where market volatility is significantly high.
In view of the above, I would also like to inform you that the same trading conditions will apply to any new trading account(s) registered with our Company.
Thank you
Recent User Reviews of XM
U
Umerfarooq7777
Karachi, Pakistan,
Nov 3, 2023,
Registered user
Most reliable broker
Service use: Live
Length of use: over 1 Year
I'm working in FX market since 10 years and worked in several platforms but I found XM as the finest platform to work. They are providing best educational and research contents. The platform also offers ultra low spreads and there is no deduction on deposits and withdrawal. I would definitely recommend XM platform for people to avail valuable services and to earn for their livelihood.
babek1982
Turkey, Turkey,
Nov 2, 2023,
Registered user
Great broker
Length of use: 6-12 Months
Withdrawals are fast and there is many way for deposits and withdrawals.also very trustable company
ayumi.hazmi
BRUNEI, Brunei Darussalam,
Nov 1, 2023,
Registered user
Trust XM
Service use: Live
Length of use: over 1 Year
I started trading forex with XM, it makes it easy for me to trade, easy to deposit money quickly. It also brings me joy when I want to spend more, as it allows for easy and fast withdrawals. Most importantly, it allows me to trade without worries.
Marinwindsor
Bangkok, Thailand,
Oct 31, 2023,
Registered user
Best Broker
Service use: Live
Length of use: over 1 Year
I highly recommend this broker since almost 10 years of trading there is never a problem of chart error.
And the support and manager team is the best in communication and help.
And the support and manager team is the best in communication and help.
1 trader has found this review helpful
happypk55
Multan , Pakistan,
Oct 27, 2023,
Registered user
Company services
Service use: Live
Length of use: 3-6 Months
Overall services very good and on time. Deposit and withdrawal are more fast. No one issue facing by me during this services.
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/
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. All forex trading accounts have a minimum deposit of $5.
How do I deposit money in to my XM broker?
XM's broker deposit procedure is fairly straightforward. Once you create a real, verified XM account, follow these simple steps:
- Login to XM broker members area.
- Select the deposit method (Credit and Debit cards, Neteller, Bank Wire Transfer or other).
- Select the XM account and specify the deposit amount.
- Enter the appropriate payment details.
How long does it take to withdraw from XM?
XM broker says they process nearly all withdrawal requests within 24 business hours.
Then it may take another 2-5 business days for the bank to process wire or for card transaction to be reflected in your account.
For faster XM withdrawal you may opt for the e-wallet, this payment is received the same business day.
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 e-wallet, this payment is 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.
Please note that bonus is not available for clients registered with EU/AU/Mena regulated entities.
Check the terms and conditions of any bonus program before accepting a bonus.
Please note that bonus is not available for clients registered with EU/AU/Mena regulated entities.
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.
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.
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.
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 Financial Services Commission (FSC) #000261/397;
- Cyprus Securities and Exchange Commission (CySEC), registration #120/10;
- Dubai Financial Service Authority (DFSA), registration #F003484.
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 1000:1 that can be instantly changed in your account members area. Maximum leverage will vary by which branch of XM you trade with as well as by what instruments are being traded.
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.
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.