XM review: Regulations, Platforms, Features and Ratings.

3.088 • 674 REVIEWS
Trading Point of Financial Instruments Also XMTrading.com
Updated: Mar 26, 2023

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.

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 #000261/309, CySEC #120/10, DFSA #F003484
Prohibited countries: Show all >>
Trading platforms: MT4, MT5
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (55+)
Cryptocurrencies: (30+)
CFD: (940+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
3.088 • 674 REVIEWS

Traders Reviews

Makti, Philippines,
Sep 10, 2020,
Registered user


Service use: Live Length of use: 0-3 Months
I initiated a withdrawal last Aug 16 via debit card and its been 19 banking days already! The processing is only 2-5 banking days maximum!

When I confirmed with them they provided me with ARN number for the transaction so I got in touch with my bank's main office to check with them but they couldn't find any transactions meant for my debit card for the withdrawal that is meant to be credited to my account!

They kept asking me for bank documents which I already provided but they want more with debit card numbers linked to my account number and all! I just don't understand why they won't start further investigation from their end from a very frustrated client. It's not like I am asking them to bank-wire me the amount immediately! I just wanted for them to further investigate what happened to my funds! But they refuse to do so!

I am keeping this rating as it is until someone from XM reaches out to me and help me resolve my concern. What is frustrating for me even more is I have bigger funds up for withdrawal but I cannot do that just yet because of this failure and lost funds! And they still refuse me to allow bank transfer as an alternative method even though my initial withdrawal has been a complete failure!

Someone get in touch with me pleaseeeeeeeeeeeeeee.
3 traders have found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear ForexBunnyPh,

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

Thank you,
missiones, Argentina,
Sep 7, 2020,
Registered user


Service use: Live Length of use: over 1 Year
I am very surprised to read bad reviews over this company , most of them seems to be from newbies who get caught by spread widening at 00h00 , others from people trying to get some money after abusing bonus scheme .

I trade with them for more than one year and it had been a smooth expereince
trading conditions are very good with "ultra low ac" , spread on XAU is the best with 23p commission included /
I made numerous deposits and withdraws and never had any problem , its fast and secure .
2 traders have found this review helpful
South Africa, South Africa,
Sep 7, 2020,

The quote price

Service use: Live Length of use: over 1 Year
XM quote price for pending orders is different to a fulfilled order same currency pair same direction e.g buy, how is that possible?
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Pam,

Please provide me with more details in relation to the issue such as your account number, order number, data and time, etc.

In that way, I will be able to provide you with an accurate response.

Thank you,
Johannesburg, South Africa,
Sep 3, 2020,
Registered user


Service use: Live Length of use: 0-3 Months
I was long on EURAUD on H4 time frame 2020/09/01, my stop loss was in a safe distance from the bottom below where the price formed a W, then around 00:00 September 2 2020, all of a sudden a candle with a long wick spiked down taking me out! I checked EURAUD on other brokers on the same time frame and there was NO such spike down! STAY AWAY FROM THIS SCAM BROKER! I have the screenshots.
1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Sandule,

I have reviewed the issue raised and I can confirm that your orders under question have been correctly executed at a price different from your requested Stop Loss price due to slippage.

Particularly, due to the market conditions at the timeframe under question (i.e., low liquidity during midnight), the market was very volatile, and your requested Stop Loss price was not quoted (i.e., due to the price gap). Thus, it was not possible to execute your orders at the requested Sell Stop price (i.e., 1.61332) and the orders were executed at the next available price, as quoted on our Online Trading Facility (i.e., 1.6125 and 1.61253).

It is unfortunate that such market movement was unfavorable to your trades; however, please note that our Company cannot be held liable for any losses incurred due to any market movements. In addition, kindly note that under Section 3 “Volatility of price and limitation on available market” of our “Risk Disclosure” it is stated that: “Under certain market conditions it can be impossible to execute any type of Clients order at declared price. Therefore, Stop Loss order cannot guarantee the limit of loss.”. You may find the aforesaid document at the following link: https://www.xm.com/assets/pdf/new/docs/XMGlobal-Risk-Disclosures-for-Financial-Instruments.pdf for your ease of reference.

I hope that the above information explains what has occurred, and I would like to assure you that it is not our wish to trouble our clients.

Thank you,
Johannesburg, South Africa,
Sep 1, 2020,
Registered user

Horrible Experience - Scammers

Service use: Live Length of use: 0-3 Months
Important Notice
Dear Valued Client,

We are contacting you with reference to your account(s) no. 38363704,61095271,57066515,45245150,38275078 (“Your Account(s)”) held with our Company.

The trading patterns in your Account(s) raise serious concerns regarding the trading bonuses credited to your Account(s) by the Company, since these were used for ‘cash-back arbitrage’ activities.

Pursuant to the Terms and Conditions applicable to our trading bonuses, the following are qualified as "cash-back arbitrage" activities:
Any form of arbitrage trading
Bonuses claimed by multiple Accounts that were registered from the same IP address
Various practices of bonus manipulation
Breach of any points included in our bonus Terms and Conditions
Any fraudulent activities, disputes or situations that our Company considers as fraudulent.

In view of the fact that the trading patterns in your Account(s) do not comply with the Terms and Conditions of the respective trading bonus scheme, we regret to inform you that any trading bonuses previously granted to your Account(s) have been deducted with immediate effect and your Account(s) is/are no longer eligible to participate in any trading bonus schemes in future.

Kindly note that our decision in this matter shall be regarded as final and binding on all participants and that, other than the notification set forth herein, there will be no further correspondence on this matter.


1.i just would like clarity on how possible this is,....
2.i have been trading with Xm for two months with no issue, why are there problems now that im being profitable
3. i scalp the market and withdraw daily, not once have i ever utilized your bonus in any way . just because im given the bonus does not mean i utilize it..so which rule have i breached
4. you say that all trading bonuses granted to my accounts have been deducted, under what circumstance? you make it seem like i made profits through your bonus of which isn't the case at all,, and even if, what would the issue be in that regards
5 What is the meaning of Arbitrage in your understanding and how possible is it that i have defrauded the bonus Terms and Conditions
6. is it possible to withdraw the bonus if i may ask and why are my funds being deducted


Fore those who will be continuing using XM all the best
1 trader has found this review helpful
Reply by Chris Zacharia submitted Oct 8, 2020:
Dear Hleki,

I have reviewed the issue raised and I can confirm that it was correctly decided to remove any bonuses from your trading accounts.

Particularly, please note that the trading patterns in your trading accounts raised serious concerns that the credit bonuses have been used in an abusive manner (i.e., “cash-back arbitrage” activities). At this point, I would like to stress the fact that according to Section D.7 of the Terms and Conditions of our Deposit Trading Bonus offering, our Company reserves the right to discontinue offering the “Deposit Trading Bonus” at any time. I quote the aforesaid clause below for your reference:

“The Company reserves the right, at its reasonable discretion, to discontinue offering of this “Deposit Trading Bonus Program” to any of its clients, without having to explain the reasons. Such clients will be informed via email.”

In view of the above, I can further confirm that you were accurately informed of the above by the relevant Department of our Company via email.

In conclusion, I would like to stress the fact that any actions taken by the Company in relation to this matter were fully in line with our Client - Company agreement which governs our business relationship, as well as with the Terms and Conditions of the Deposit Trading Bonus Program.

Thank you,
Page 16 of 171

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.

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.