XM Review

3.062 · 654 REVIEWS

Trading Point of Financial Instruments

Updated: Jul 29, 2021 · XM.com  · Is this your company?

XM is a group of online brokers holding regulatory statuses in various jurisdictions. First entity of the group Trading Point of Financial Instruments Ltd. was founded in 2009 in Cyprus and is regulated by CySEC. Currently, group also have presence in Australia, UK, and XM Global Limited is regulated by IFSC (Belize).

XM broker 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.

XM traders can benefit of Autochartist, Analyzzer, and ideas from Trading Central and of course the MetaTrader marketplace.

Please read XM Reviews below and share live trading experiences with this broker.

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.

💵 Minimum Deposit   $100
💸 Maximum Leverage   888:1
🧰 Trading Platforms  MT4, MT5

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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3.062 · 654 REVIEWS
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Traders Reviews

Amir,
UK, United Kingdom,
Jul 24, 2021,
Guest

XM are theifs!

Service use: Live

Length of use: 0-3 Months

My account number 62001278
This broker is quite some theif. Nearly every single time my stop-loss doesn't stop at my desired stop-loss. Just today there was a "slippage" and took out my whole capital. My stop-loss was 30 pips and it went to 60 pips. I tried emailing support@xm.com and they have been no help at all, replying with the same nonsense about "execution", "stop-loss" and giving me no help. I was thinking if they can have a negative balance protection why cant they have my orders stopped at my stop-loss!? Had me really really angry today, leaving me feel helpless with no funds left to trade with!
 
Salvador bahia, Brazil,
Jul 18, 2021,
Registered user

Closed my trades and i lost all 10000 usd

Service use: Live

Length of use: 3-6 Months

closed my trades and I lost all my money id xm 32187306 I had several open orders trading chfjpy I still had over 3000 dollars of margin outside that I had the bonus to protect my account, it happened that XM closed all trades at the loss and there was still about 1000 dollars of margin bonus and even so they closed the orders and i lost all my money besides the absurd swap rate they discounted i lost more than 10000 usd the xm bonus is fictitious when you need it only uses 20% the operations in the same week had made several contributions to protect the account even so this bonus is fajunto scam liar I lost all my money I want justice and I ask the fpa for help
 
Reply by Chris Zacharia submitted Jul 21, 2021:
Dear Joandro,

I have fully investigated the issue raised and I can confirm that the orders under question were correctly executed (i.e., stopped out) due to insufficient margin in your trading account during the timeframe under question.

Particularly, please note that prior to the stop-out of the orders, your trading account was already suffering losses due to the negative impact of the market movement on your open orders, as these were opened by yourself, based on your own investment/trading strategies and risk appetite. More specifically, please note that the equity of your trading account on 18/07/2021 at 00:00 (server time) was USD 1594 and the margin requirement was USD 2732 and due to the size of your open positions (i.e., 996 micro lots of CHFJPYmicro) the stop out mechanism would be triggered with a small market movement.

In this respect, and due to the fact that the market movement was not in your favor at the time, the margin in your trading account fell below the minimum required of 20% (i.e.,the available equity in your trading account at the time of stop-out of your first order was USD 542,92 whilst the required margin at that time was USD 2732.17. The latter means that your margin was below the required 20% (i.e., 19.87%) and as such, your orders were correctly stopped-out. Please further 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.

In view of the above, I would also like to stress the fact that our trading platform operates on an automated basis, thus, all orders are automatically executed by the trading platform without human intervention. Therefore, I explicitly deny your claim that our Company or any of its personnel manipulated or intervened in the pricing and/or execution of the orders under question.

Thank you,
MaharashtrA, India,
Jul 13, 2021,
Registered user

Do not ever trade with this broker , i repeat ever

Service use: Live

Length of use: 3-6 Months

This forex broker is looting people.. its obvious we place stop losses for our protection against high volatioe markets.... but xm doesnt care my account hits down 40pips, this giant enormous slippage is unethical and unlegal.. this cant even be true ...consider ur account is trading at a 5.00 lot and there is a slippage of 400 pips = 2000 usd loss just bcoz off there stupid cover reason of slippage .. the live chat cant help u in anyway .. consider urself lost of ur money ..i dont recommend u this broker at all ,... just report this fraud everywhere guys trust me.. i just want my money back thts all ... i have no other intentions p.s i have screenshots of there stupid excuse for the slippage.. they can even rob u of ur account money in the way of slippage ...
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Jul 21, 2021:
Dear Tushar,

Please note that in order for me to be in position to fully investigate the issue I need to be provided with your account number.

Thank you,
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 :)
 
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.
 
Cairo, Egypt,
Jun 14, 2021,
Registered user

Scam

Service use: Live

Length of use: 0-3 Months

I opened an account on Thursday and it was activated on the same day and I deposited the amount of $400. After that, the company closed the account on Friday and prevented me from withdrawing any deposits. they must send documents to Cyprus in light of this atmosphere of krona, and I did not trade in my account or opened deals on it. I did not login on mt4. I want my right. I did not violate anything and did not trade it. I want my deposit money without any conditions.And I did not call the support, they told me that you broke the conditions and I did not have anything to do, and there is not even a transaction that took place in the account. I want my Rights, This is a scam, I want my money back.
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Jul 21, 2021:
Dear Yousef2176,

I have investigated the issue raised in your review and I can confirm that all the actions taken from the Company in relation to your trading account were fully in line with the Terms and Conditions of Business.

Particularly, the trading activity in your trading account raised serious concerns to the Company as they were considered as suspicious. At this point, I would like to inform you that according to the Terms and Conditions of Business, which you accepted prior to establishing a business relationship with the Company, we reserve the right to suspend either temporarily or permanently a client’s trading accounts, in case suspicious activities are identified.

Further to the above and in order to ensure that any trading activity performed in your trading account was in line with our Terms and Conditions, your trading account was suspended until the investigation is complete.

In view of the above and as per our internal procedures, the relevant documentation was requested from you in order for us to be in position and be confident to release your requested funds. However for your ease, instead of sending the documents initially requested, we informed you that you may send us a selfie in order to proceed accordingly. In view of the latter and once we are provided with the requested documentation, please note that the relevant funds will be sent to you as per your submitted withdrawal request.

Thank you,
Johannesburg, South Africa,
Jun 9, 2021,
Registered user

Bad broker

Service use: Live

Length of use: 0-3 Months

Bad broker, I sent my hard earned money to my trading account and it is not there. Why? I am waiting for 3 days already and no response. They say wait wait wait, it will come. And not come yet. Frustrating!
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Jul 21, 2021:
Dear V_Thabo,

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

Thank you,
Casablanca, Morocco,
May 22, 2021,
Registered user

Withdawal rejected

Service use: Live

Length of use: over 1 Year

Hello,

It is about my acount number Recently, i have some problèmes in my acount , it was suspended . Xm told me they suspect a fraud so my withdawal request was rejected, they asked me for some documents, i have sent them , but still waiting for an answer and solution for what is hapenning.

Can you please give me a lead about what is hapenning to my acount,

Thank you in advance
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Jul 21, 2021:
Dear Benazatim,

Please note that I need to be provided with your account number in order for me to be in position to assist you accordingly.

As I can recall, I have already responded to you in a private conversation and informed you that the trading account that you provided me with was validated and active; not suspended as you mentioned in your review.

Thank you,
Pretoria, South Africa,
May 6, 2021,
Registered user

Best Platform to trade forex

Service use: Live

Length of use: over 1 Year

XM is fantastic and simply brilliant
Best place to trade Ever
I Strongly recommend XM trading! they are the best!
 
Kuala Lumpur, Malaysia,
May 3, 2021,
Registered user

Withdrawal process is very poor

Service use: Live

Length of use: 0-3 Months

I used 2 forex broker simultaneously to compare which is best for long term trading partner.

XM is very wide spread and more than double (2x) as what my other broker is offfering when trading EUR/USD.

When it comes to withdrawal process. I execute withdrawal in XM 5 hrs ahead of my other broker.

But in with my other broker, I received my money after 1 hr only, in XM, it took several business days before you received.

In my other broker, if you used a debit card to deposit, then, you can use the same card to withdraw your money (deposit + profit), but in XM, your deposit will only processed going back to your card (that it take sooo long as well), your profit will not allowed to transfer to your card together with your deposit. tedious process, very simple but they made it complex. but instead, they will ask you to provide or used a different method for withdrawal of your profit.

I don't understand their logic as to why it's necessary to separate the profit from the deposit, it's also your money. annoying, while in other brokers it's very simple but even faster.

This is just based on my real experience with these two brokers that I want to share with others.

I really hope that XM will change their withdrawal transaction processing system and just make it simpler so that they can attract more or increase their trader again.
  2 traders have found this review helpful
Reply by Chris Zacharia submitted May 19, 2021:
Dear Jon C,

As I am not given specific details in relation to neither your order execution nor your withdrawal request, I can only respond to you providing you further information in relation to our services.

Please note that as stated in our official website, in XM we offer variable spreads and in order to keep spreads as narrow as possible, we aim to get optimal prices from all our liquidity providers.

Although we try our best to keep spreads as low as possible, due to the fact that spreads depend on market conditions, the latter is affecting the spreads provided by our Company and unfortunately, such conditions fall beyond our Company's reasonable control.

In relation to your claims regarding our withdrawal procedures, please note that as per our internal withdrawal procedures, funds are withdrawn via the same method they were initially deposited, up to the total amount deposited by the respective method. In view of the latter, we offer our clients a plethora of alternative methods in order for them to be in position to withdraw their profits.

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.