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

Johannesburg, South Africa,
Aug 11, 2020,
Registered user

Full of scams

Service use: Live Length of use: 0-3 Months
I have traded with this broker and I can confirm that once you deposit your money , they try so hard that u do not get it back. And that starting bonus amount is a false advertisement tendencies which they use to lure traders into opening account.. this is what I have experienced, worse customer service , the stop loss is manipulated to take most of your money, you can never trade tight stop loss as they want to control how u should place your stop loss of which contradict your trading plan , I made a withdrawal on friday and today is Tuesday yet I haven't received my money , and lastly the starting bonus amount was not credited to my account because they say I violated terms and conditions of which they cant tell me what is it.... is like they were trained to hide their scamming behavior through terms and conditions that they will never outline for u....

If u are looking into losing money constantly , you can choose them..
XM is scamming its customers, better search for a different broker with good reviews.. Never and Never consider a broker with this much problems, and goodluck to all traders in search of a broker.
1 trader has found this review helpful
Reply by Chris Zacharia submitted Aug 14, 2020:
Dear Sydney ¹11111,

In order for me to be able to investigate further the issue, please provide me your account number.

Thank you,
Dhaka, Bangladesh,
Aug 4, 2020,
Registered user

Customer support is very horrible.

Service use: Live Length of use: over 1 Year
My trading a/c no 53029912 server real 42 .
They are 1 mail send me your account ( We are writing to you regarding your account(s) no. 53029912(hereinafter “your Account(s)”) held with our Company.
Pursuant to our Terms and Conditions of Business, please consider this email as our official notice for the termination of our business relationship. Please note that your trading account will be temporarily suspended for the next seven (7) calendar days and then permanently disabled.

Hear i say what kind rules i break ? i send 3 mail that asking this matter, but they are not answer. i think its a horrible things.
1 trader has found this review helpful
Reply by Chris Zacharia submitted Aug 14, 2020:
Dear Brokenheart,

I have investigated the issue raised and I can confirm that our business relationship was correctly terminated due to the fact that you have violated our Terms and Conditions of business.

Particularly, following investigation to your trading account, I can confirm that the trading patterns used in your trading account raised serious concerns that fraudulent activities were commenced in your trading account. Please note that the latter constitutes violation of our Terms and Conditions and as such, the business relationship was correctly terminated.

I can also confirm that you were accurately informed of the latter (i.e., termination of business relationship), via email, by the relevant Department of our Company.

Thank you
Kharar, India,
Jul 29, 2020,
Registered user

Xm is very bad broker.

Service use: Live Length of use: 3-6 Months
Hello sir.
My name is deepak sharma from India.
my xm account number is 60894181.
I added my first deposit amount 6500rupees on 24th June 2020 via NetBanking. Transaction was successful but not update in my xm account. I sent many emails but they not gave me any resolution.
I deposit 5500 rupees again on 14th july 2020. But they guys again not add my money into my xm account.
Their support team seems like they don't want to help me.
I sent all my proof of transaction.
Don't trust xm. They steal your money without any warning.
5 traders have found this review helpful
Cotonou, Benin,
Jul 29, 2020,
Registered user

They will close your account once you start making consistent profits

Service use: Live Length of use: 0-3 Months
I own the following accounts at XM: 57036380,57043251,43124007. A while back, I deposited money and lost almost all of the funds and withdrew the remainder of my money. Last week, as I had some bonus (1.64$) in the micro account (43124007), I started trading and made 1.15$ profit within one week or so. That is the moment they sent me an email telling me that I am using "arbitrage cashback" and closed my accounts... I just want to warn those who still consider this broker, don't go there... They will be shining teeth at you when you are losing. Once you start being consistent, they will find excuses to close your account.

Oct 17, 2018 - No Rating Just terrible this broker. Technical problems or what, I can't say. But one word. Keep watch on your accounts or you will lose your money.

Oct 10, 2018 - 5 Stars They answered my question so, I will keep on monitoring my account to see how things go... For the time being, I have no reason to complain.

Oct 4, 2018 - 3 Stars Hi Chris Zacharia,

I'm the user who posted under the guest name "Just as it is"
I complained about my TP not being triggered and you said it doesn't make sense. So, here is my MT4 ID: 13201728

I see it is a complain from most of your client so, I would like to know what happened during the trading week of September 24 to September 28. You will notice that within that period, I manually closed my orders, because I found out that when my TP profits hit, they are not triggered.
Expecting your kind reply.

Oct 2, 2018 - 3 Stars Hi everybody,

I'm not a disgrunted user or a representative. This is just to let everyone know one fact about this broker: They do not trigger take profits on mico account.

I registered a micro account with them and deposited $5 to check them out. Up till them, everything was fine but, when I started scheduling orders, stop losses and take profits, things went awry.
Xm has never initiated my scheduled orders nor has it trigered my take profit. On the other hand, they almost always trigger stop losses. So, they could not pretend that it is only logistics problems.
Forewarned is forarmed: Don't trust them with your take profits. You cantrust them with your stop losses on the other hand.

Reply by Chris Zacharia submitted Oct 3, 2018 Dear Just as it is,

You make various accusations against XM which don’t make any trading sense. It is impossible for these events which you describe to happen.

I would be more than happy to check your case and transparently reply to you but I will need your account number in order to do so.

Please follow up with your account number.

Thank you,

Reply by Chris Zacharia submitted Oct 8, 2018 Dear "The Way it is",

I have checked your account.

The reason you are thinking your Take Profit (TP) orders are not being triggered is because of the following:

"Sell Orders are closed with Ask Prices and not Bid Prices".

The MT4 chart is generated with Bid Prices always so when you are looking at the chart you must always take into consideration the Spread in order to determine the Ask price which is ultimately the price that will trigger your Take Profit (TP).

As I noted in my previous reply it does not make any sense for XM not to trigger your Take Profit (TP) orders simply because we cannot choose to trigger them or not. If you input them in the system the server does that for you and has nothing to do with XM.

I hope my explanation was helpful and any doubts you may have had are now sorted.

If you have the kindness please change your rating and title on your original review now that the misunderstanding has been cleared out.

Thank you,

Reply by Chris Zacharia submitted Oct 24, 2018 Dear the way it is,

I have once again checked your account after I have explained what you were doing wrong on October 3rd 2018. From what I see you have been stopped out.

From what you post on your latest review I cannot understand what exactly is the problem. In your previous review you were confused and could not understand that "Sell Orders are closed with Ask Prices and not Bid Prices".

In order to possibly help you clarify your issues I have requested your account manager to contact you on Monday the 22nd of October. I have just followed up with the account manager and she has informed me that she has not been able to reach you via phone or email.

If you let us know what exactly is your complain/query or question in your latest review we will be able to help you.

Thank you,
3 traders have found this review helpful
Reply by Chris Zacharia submitted Aug 14, 2020:
Dear The Way It Is,

I have thoroughly reviewed the issue raised and I can confirm that the business relationship you had with the Company was correctly terminated due to the fact that you have violated our Terms and Conditions of Business.

Particularly,it has been identified that you were connected, through the same trading information (i.e., including but not limited to IP address), with former clients of our Company with whom our business relationship was terminated due to the violation of the Terms and Conditions of our Bonus Programs.

As I am sure you can appreciate, XM accounts are intended for your personal use only and our Company does not allow the management of trading accounts belonging to its clients by any third party, as the latter is considered to be violation of our Terms and Conditions of Business. In view of the above violation, and as you were accurately been informed by the relevant Department of our Company, via email, our business relationship was correctly terminated.

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.

Thank you,
amman, Jordan,
Jul 27, 2020,
Registered user

Positions closed automatically

Service use: Live Length of use: 0-3 Months
Not sure what's happening, but i encountered two incidents where two positions were automatically closed at loss. At the two positions, closure happened before even reaching to tp or sl. just out of the blue, positions were closed!

How's that possible and what to do to regain my money?
1 trader has found this review helpful
Reply by Chris Zacharia submitted Aug 14, 2020:
Dear Bu3oon,

Please provide me with further details (e.g., order number, instrument, date and time, etc) in relation to the subject matter in order for me to be able to investigate the issue.

Thank you,
Page 18 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.