XM Review

3.068 · 655 REVIEWS

Trading Point of Financial Instruments

Updated: Sep 13, 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.


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+)
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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3.068 · 655 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

java, Indonesia,
Jan 14, 2020,
Registered user

fair enough but maybe not for me

Service use: Live

Length of use: 0-3 Months

take note that i mostly do my trades on busy market (i'm a new client that havent really trust this broker yet, only 1 week old account with very small deposit)

- spread is sort of wide in actuality unless you trade in absolutely silent market hours, so take their "low spreads" claims with a grain of salt
- often too slow order processes to stop loss & scalp effectively in busy market (though there are better and worse brokers out there). Could have been better imo
- i simply don't like their swap rates (i dont think i can make islamic account because i'm not islam when most people on my forex community could so yeah im jealous of them)

+- personally not really sure if they are NDD (maybe just coincidences, but prices moving against my positions when i open the platform and got corrected when i close it and opens again). urgently need the certificate/proof/clarification whether it is ECN, mixed, or true STP if they are indeed NDD because my exposure time when opening their mt4 tells otherwise

+ good follow ups and guides on terms and agreement from personal manager
+ fast deposit and withdraw (less than 3 hours)
+ with their transfer client-> IB system, they allows you to withdraw profit & most of your balance fast with no problem (january 2020). havent tried other methods

will be very likely to use this broker again if i couldnt find better ones around here.
i will only put my acc number if i'm satisfied enough with the respond regarding the DD/NDD question
Dubai, United Arab Emirates,
Jan 3, 2020,
Registered user

Unable to withdraw your win from xm

Service use: Live

Length of use: over 1 Year

I have been trading with other regulated brokers with more then 10 years with no issues . Be aware of trading with xm . as soon as you want to withdraw your win they will get any excuse to block your withdrawal
Wired withdrawal are not an option as well
Total scam !!!! . I am already more then 2 months trying to withdraw . I am proceeding to fca claim now to get my Money back.
Reply by Chris Zacharia submitted Jan 23, 2020:
Dear Tkmontana1981,

I apologize for taking so long to reply but your case has proved extremely complicated.

The reason you have been freezed and gone into investigation is

You initially registered under Country of Residence: Lebanon
After that you asked to change your Country of Residence to: United Arab Emirates

When you had trouble withdrawing your funds from Skrill you asked to change it to Belgium/France.

I understand you might have global travelling patterns or you might have businesses/residences in many locations but the case has proved very challenging to resolve in coordination with our compliance desk.

I am pleased to inform you that the investigation has been concluded and the funds will be released to your account today.

Johannesburg, South Africa,
Jan 2, 2020,
Registered user

Withdrawal Issuse and Market Manipulation

Service use: Live

Length of use: 0-3 Months

Hello traders...Having problem with my withdrawals they are being rejected for an invalid reason and also during news events XM manipulates your trades. I don't recommend this broker to anyone.
  3 traders have found this review helpful
Reply by Chris Zacharia submitted Jan 8, 2020:
Dear Samukelo,

The account number you posted is not correct.

Please provide me with the correct account number in order to be able to investigate this for you.

Thank you,
Kuala Lumpur, Malaysia,
Jan 1, 2020,

2.1.2020 all broker up except xm

Service use: Live

Very smart Dealing Desk broker.
Even and odd style. for example, 70% selling and 30% buying. As a respective dealing desk die hard, 30% will win and 70% will lose. It is simple, close xm mt4, and wait prices goes opposite direction. Also i had screenshot EURUSD price from 84.xxxxx aka 6500pips.. Big clap!
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Jan 8, 2020:
Dear Bo$$,

I have tried reading your review a few times but I cannot clearly understand what you mean or what you would like us to reply about.

Please try to explain the review more clearly in order for us to be able to understand and reply.

Indonesia, Indonesia,
Dec 16, 2019,


Service use: Live

Length of use: 6-12 Months

  2 traders have found this review helpful
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear 121837XX,

In order for me to able to investigate your case, I will need you to provide me your account number.

Thank you,
eg, Egypt,
Dec 14, 2019,
Registered user

as I have finally registered in FPA forum, I will post my review about XM

Service use: Live

Length of use: over 1 Year

XM is a friendly and decent broker that I had a good experience with allover my forex life. The broker is good, but I want to state a disadvantage which is that when the XM card dismissed for Egypt, they would have found a solution for it, for example, some Jordanian brokers one of the names starting with eq.... started promoting in Egypt is offering a card, so yes there's a solution for the middle east still, I don't need to state the broker name, but they will find it. I'm sure they will figure out how can they get cards for the middle east like them, and they will bring that feature back to us. Another point is the BTC deposit limits we may ignore that for now, but they need to find out a solution to allow withdrawing the profits by that method too, or you can add USDT for deposits/withdrawals, profits withdrawals as well to sort that. As long as you accept perfect money, you should be able to make the BTC or USDT request (profits withdrawal), no questions asked. In the end, this is a personal point not related to the company quality or anything like that XM is offering massive services like the live education and these services, but they need to improve the live chat employees a little bit; as it feels that they're just an offshore employees (the live chat specially except the Chinese part) as you never find your tickets passed, or questions followed up like when the live chat end these people who're on the keyboard forget anything were asked for instantly while the Chinese support takes the requests seriously and process tickets and that sometimes force me to use their Chinese chat by translate help not to bother myself with the other chats experience, the English conversation is ok. Still, they copy and paste from the website (no customer service background experience). I'm trying to explain more not to hurt them because I don't mean that there's anything terrible it might be right but needs to be improved do you understand me? Nevertheless, that live chat experience comparing to other brokers is the average, I didn't find a live chat that's better than theirs also their durable backend service. Again, thanks XM for serving me all of these years, and I wish that you can add these requests as long as you had a separate brand for EU or strict monitoring. In the end, I love XM.
istanbul, Turkey,
Dec 13, 2019,

Fake Islamic account! Do not open any account in XM!

Service use: Live

Length of use: 0-3 Months

Hello dear investors and traders,
I am a personal investor and i can say that i am in amator level.
I have sent 21367 Euro . And they have give me 500USD + %20 bonus according to my payments. Untill this everytings looks amazing for me... Untill money reachses to them they change their behaviour opositely. Withraval deposit case they are trustable. BUT everything starts after my money reaches to their hands. They have closed my islamic account just so saying we close your islamic account becasue of your trading patterns...
Please be carefull that ''I have not open any posstion after the deposit I mean no any trading happened!!!!. I hate their way of bussines. If you promise islamic account ( swap free) and opening position why do you close my account.? I lost a lot of time and eat my fingers!!! So please be careful with them. I dont want somebody else cheated by them.! I am still waiting my money back!I hope they do not steal it
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear Instanbul,

Islamic account status is given in good faith by XM to clients that follow the Islamic faith.

However your account has been traced to be related with other clients which have attempted to abuse their Islamic status (given in good faith) and this is the reason your account has been revoked from Islamic status.

In regards to your withdrawal request, please note your funds were refunded to you within 24 hours after you placed a request. From what I see from the system you placed a withdrawal on a Friday which means your funds should have been with you on the following Monday after the weekend.

Thank you,
Port Elizabeth, South Africa,
Dec 6, 2019,

No deposit bonus is a scam

Service use: Live

Length of use: 0-3 Months

I made profit with the no deposit bonus, I tried withdrawing my profit they accepted my withdrawal but after a few hours they told me, my profit was forfeited because I'm using the same IP address with another client but they don't show you who is it.

I recommend you stay away from this no deposit bonus
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear Siyabonga,

Could you be so kind and provide me your account number in order for me to investigate your case.

Thank you,
Gauteng, South Africa,
Dec 5, 2019,
Registered user

Withdrawal issues

Service use: Live

Length of use: over 1 Year

My first four withdrawals went off without a hinge.
My fifth withdraw is the one I have been waiting for for almost three months. My account numbers are 42123472 and 275891

First I was told that my account manager, Asmael somehow stole from his clients when xm did a system upgrade from the 7day withdrawal to a 2 day withdrawal.

Then I got a new account manager named Naheem. After he gave me the run a round that they fixed the system I still didn't get my money.

Then I got referred to Peter(supposedly one of the account managers manager) long story short he also gave me the run around.

Then I got Monica(the one account manager who never seems to be in the office) she too claimed that they moved back to the original system and claimed to have put my withdrawal through multiple times but failed as I'm still waiting for my money.

After trying to get hold of Monica yet again,reception put me through to Abselon on the 29/11/2019. He has offered to help me. I really hope he can do what none of the other account managers were unsuccessful at doing. He said the money will be in no later than the 06th of December.

I really hope to update my review with good news soon.

I would just like to say that thus far Abselon has been good at contacting me with the other account managers I ended up trying to contact them 4 times a day 5days a week.
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear Aldrid,

I have looked in to your account and I can only find one withdrawal request dated January 2019.

Moreover you mentioned the following names:


I have double checked this and we have no staff at XM with those names.

Can you please confirm with me which email or contact details you are using when talking to these people?

I would like to alarm you and stress that either you are contacting a different company or someone is impersonating XM.

Thank you,
LDN, Philippines,
Dec 1, 2019,

Withdrawal Issue

Service use: Live

Length of use: 3-6 Months

I am having an issue with their withdrawal. I had withdrawn before with no other issue but this time it's a nightmare! They keep saying every time I withdraw my account of only $528 (imagine this amount and they cannot even release it) they send an email as below almost 5 times already.

Dear Valued Client,
*This is an automatically generated response, please do not reply to this email.
Please be advised that in order to process your withdrawal request we need you to provide us a screen print of your Bank account which confirms that this account is in fact registered under your name.
As a result your withdrawal request cannot be processed and funds have been credited back into your trading account.
You are therefore kindly requested to send a screen print of your Bank account to backoffice@xmglobal.com. Please note that your full name and Bank account number have to be visible on the said screen print.
Once provided, please submit in new your withdrawal request which will be processed accordingly.
Please accept our apologies for any inconvenience caused.
Thank you in advance for your kind understanding on this matter.

With Best Regards,

XM Team
Back Office
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Dec 23, 2019:
Dear Isabelle,

I can investigate this for you if you are kind enough to provide me with an account number.

However, it is very common for the backoffice to request additional documentation in order to protect our clients from idendity theft.

Have you provided the backoffice with the screenshot they requested?

Let me know,


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.

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.