XM review: Regulations, Platforms, Features and Ratings.

3.092 • 669 REVIEWS
Trading Point of Financial Instruments Also XMTrading.com
Updated: Sep 30, 2022
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 read XM Reviews below and share live trading experiences with this broker.

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.

3.092 • 669 REVIEWS

Traders Reviews

C
Embilipitiya, Sri Lanka,
Jul 18, 2022,
Registered user

its wow

Service use: Live Length of use: over 1 Year
i am very happy. because its comfortable trading platform. I like to grow big career of my life with this trading.
R
Rossh
Philippines, Philippines,
Jul 13, 2022,
Guest

GREAT AND USER FRIENDLY

Service use: Live Length of use: 0-3 Months
XM platform is very user friendly and easy to use for trading, i highly recommend this trading platform. The Deposits have many choices according to your preferred Mode and it's fast also. For the withdrawals it took 25 mins on my first withdrawal because i believe it has 50 network confirmations so i understand that, but rest assured it's ALL GOOD! Especially the Live Chat CSR are very resourceful and polite approaching to the customers. Thanks XM!
B
Pretoria, South Africa,
Jun 24, 2022,
Registered user

Cheated me of my profits

Service use: Live
Cheated me of my profits I never traded 2 no deposit accounts it’s a big lie. Please be very careful with them.
A
Nairobi, Kenya,
May 31, 2022,
Registered user

Review to my last Update, Issue Resolved

Service use: Live Length of use: over 1 Year
I would wish to confirm that the issue i had raised with XMGloal regarding the misunderstanding between me and the account manager was resolved amicably. Hence i review my rating from 1star to 5 star. I have been with the broker for close to 10yrs now.

May 18, 2022 - 1 Star This is a company i have worked with since 2012. Recently they have been running a scamming activity with their unqualified account managers. My account is 15090. The manager send me an email that i can deposit any amount and they will match with 100% bonus. I did that 174$ and opened an order knowing that my bonus will be matched as per email, little did i know they didnt match the bonus and ended up losing. They claimed it was a misunderstand and there after she called and promised to give me another bonus immediately if i deposit upto 200$. I did that with another 93$ and alerted her, but unfortunately, they credit the bonus 2hrs later while my risk was based on both cash deposit and the bonus. I ended up losing. As usual they give endless stories when i demand my money. This people have realized are thieves and they will do anything to scam you. They are market maker basket!! Very rude customer service and its not same company i knew years back. I NEED REFUND OF MY MONE XMGLOBAL

Jan 28, 2020 - 1 Star I have been with xmglobal since the days of Trading Point of Financial Instruments. A client of 9years with account 15090, everything been well. Lately, they scammed me contributing to a loss which if it never occurred, the last time I send an email to them my orders could have been 120$ in profit. At around 23:00 server time, we know the spreads widen, but xm took advantage of the situation. They scammed me. I will post all orders in detail. I contacted them, they said my issue has been solved, I went further to write to compliance department and also they replied and taking long to solve my issues.
This broker is becoming a big scammer the moment they spotted to xmglobal.they are simply THIEVES. Becareful opening an account with them. Until they pay me or provide order book receipt from the liquidity provider who filled my orders, to me they still remain scammers. Newbies becareful otherwise you will be scammed. Am taking out of experience, been with them for 9years. Not a joke. ACCOUNT 15090.

Reply by Chris Zacharia submitted Feb 6, 2020 Dear Albert Kyalo,

I have investigated your case, and before I continue further on, I hope you understand that coming to the FPA and labeling XM a scam for an amount of $20 is the least to say totally Absurd. I hope you understand that XM serving over 2.5 Million Clients has no benefit to “SCAM” any client either that’s $20 or $200,000.

As per my research you have already also filed a complaint regarding this matter for which our compliance desk has responded to you.

Below the email you have been sent by our compliance dept:

Dear Sir,

Kindly note that we have thoroughly reviewed the issue raised in your emails and we can confirm that your Sell orders 57940799, 57940621, 57940627, 57940962, 57941021 and 579409

account during the timeframe under question.

Particularly, there was a market movement (i.e., midnight hours/market opening hours) which was not in your favor, resulting in your margin level falling below the minimum required of 20% a out mechanism starts by closing the most loss-making order every time the account has reached the stop-out phase.

For your better understanding, please note that, based on the journal file of your trading account as well as per our calculations, the available equity in your trading account at the time of stop out

that time was USD 18.4.

The latter means that your margin level was below the minimum required of 20% (i.e.,18.4%) and as such, your order was correctly stopped-out.

Due the fact that you are an old client of XM, the compliance department went a step further and offered to re-imburse your account with a 20USD gift.

Having said all the above I consider this case closed.

Thanks,
M
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.
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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 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.

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 Financial Services Commission (FSC) #000261/309;
  • 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.