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

Vrededrop, South Africa,
Mar 14, 2019,
Registered user

I requested for withdrawal after making profits from the no deposit bonus now it is 26 hours. My withdrawal is still pending and I am being told to wait for a call for verifications if I am not mistaken. I am asking myself why they say withdrawals will be processed within 24 hours than they cannot live to their promise of terms and conditions
Reply by Chris Zacharia submitted Apr 8, 2019:
Dear moea lebohang,

On rare occasions withdrawals of funds from No Deposit Bonus accounts require additional verification in for us to verify client's identity. Therefore, I kindly ask you to speak with your Personal Account Manager via phone and when it has been done, I can assure that your withdrawal request will be processed in no time.

Kind regards,
Hawaii, USA,
Mar 4, 2019,
Registered user

XM is bogus broker.

My account number:
I trade and earn profit as 156$. Then I request 15$ from my profit. But xm team cancelled my all frofit and credit to zero. I don't know why is it. XM is Bogus broker. Don't deposit your money in XM. Very very bad broker.
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Apr 8, 2019:
Dear SadunKumara,

It is not possible to have your profit cancelled when you are trading with XM. You have not shared your account number but the only reason for this kind of a situation to happen is that you have seriously violated XM's Trading Conditions by gaining profit unfairly.

In order for me to provide more details and explain the situation better, I kindly ask you to share your account details.

Kind regards,
Cape Town, South Africa,
Feb 22, 2019,
Registered user

Leverage reduced straight after i made a good trade

Hi Guys

XM Account number -2738249

I had no other alternative but to come here as XM is not communicating to me regarding my account

So after i successfully made a good trade on the AUD - Employment Change , i have made decent profits and right after i traded this news released i got a email saying that they reduced my leverage which i did not agree on and they did this because they saw i was making money . They reduced my leverage to 1:100 which is useless to me and i have been on multi XM chats and i feel like they are just ignoring me. After i questioned it, there since as been no emails/No communication send to me regarding this matter only the same stupid email saying that they reduced my leverage.

I have came to a point where i requested to withdraw all of my money and use another broker ! this broker is not recommended in my view and i used to love working with them but after this i am done .

I would love to hear the story that XM will come up after this i am waiting .

  1 trader has found this review helpful
Reply by Chris Zacharia submitted Feb 26, 2019:
Dear Gada Cane,

I am sorry to hear that you are thinking to stop trading with XM.

I would like to stress out that if you wish to continue trading with XM, you are more than welcome to do so and to enjoy all benefits that XM is offering. However, at the moment the maximum leverage we can offer you is 1:100. It has been restricted to 1:100 because of our risk management procedures but this decision may be reviewed in the future.

Kind regards,
Johannesburg, South Africa,
Feb 19, 2019,
Registered user

Still don't know problem and they haven't updated me since

I have deposited money of 1000USD and traded and made an additional of 1300USD after requesting a withdrawal they said my funds couldn't be processed, my account was under investigation and the investigation would take 24 hours it has been over a month I haven't received my funds I only managed to fight for my initial deposit that took them two weeks to reimburse

More. Community discussion of this issue >>

Reply by Chris Zacharia submitted Feb 26, 2019:
Dear Milly2000,

We have replied to your questions on the community discussion thread you have opened here on the Forex Peace Army at this link https://www.forexpeacearmy.com/community/threads/xm-global-not-complying-to-their-regulations.59194/page-2

Thank you,
Feb 11, 2019,

Karma is boomerang

I am from India . I have done deposit of 200$ and I chose to withdraw via my card.... They given ARn number and while I ask my bank they say we don't recognize this... Xm wants my bank to give arn number is not recognizable... But my bank says we only give bank statement for credit and debit of amounts... Xm says they will not give their bank statement for proof of debit... I can trust my bank but never xm.... They say it is not their problem...
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Feb 13, 2019:
Dear Mani

I am sorry to hear that you have a problem locating your funds and I can assure that XM will do everything possible for you to solve this problem.

In order for XM to help you, I kindly ask you to contact our Backoffice Department or your Personal Account manager. Alternatively, you can share your account number here, on Forex Peace Army, and I will make sure that the company will get in touch with regarding this matter.

Kind regards,
Maracaibo, Venezuela,
Feb 7, 2019,
Registered user


My account it's 42120458 and IT'S MY ONLY ACCOUNT. This isn't my first time with a broker, but yes with one that lie in order to keep with your earnings.

They take my profits, lie, creating fake excuses and still ask me to "reconsider" keep doing business with them. I'ts just enough to see how many of reviews are about how dishonest and liers they are, 'cause are an abusing broker.

Jan 31, 2019 - 1 Star FRAUDULENT AND SCAM BROKER. My account is 42120458, I open an account with them, and start to trading. After I made 60$ with them, I wanted to withdraw my money and they REFUSE to pay my HARD earning money. Yes, HARD EARNING, its keep me a few days to earn that money and they reduced to zero my earning. The are the most dishonest broker that I haven seen. They acuse me of broking rule of more than one account directly or indirectly associated by me. Which it's FAKE, and I asked to PROOF and I sent my IP ADDRESS to CONFIRM MY DIRECTION, and received my money.

Definitely are the WORST BROKER YOU CAN TRY. You are losing your money, time and PACIENCE.

Reply by Chris Zacharia submitted Feb 5, 2019 Dear wilmercaneloon,

First of all, we consider it unacceptable to be labelling XM a " FRAUDULENT AND SCAM BROKER" when the real reason you have been blocked is because you have been opening multiple accounts in order to claim the No Deposit Bonus.

Attempting to claim a promotion on false pretenses more than once by is strictly prohibited and if such activity is detected, bonus and profit/loss are nullified.

Kind regards,
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Feb 13, 2019:
Dear wilmercaneloon,

Our Anti-Fraud Department was able to detect that your account is related to dozens of other clients that recently received the No Deposit Bonus and were able to test XM services and withdraw their funds.

Please note that opening multiple trading accounts with a sole purpose of receiving the No Deposit Bonus is strictly prohibited and may lead to account close and/or removal of the bonus received.

Kind regards,
singapore, Singapore,
Feb 1, 2019,
Registered user

This exchange lacks integrity and is sub par compared to other exchanges. I follow a signal group, this means that many people and I follow the same limit order, stop loss and take profit. However, whilst everyone else reached TP, mine had hit a SL. My TP had not triggered despite everyone else's having triggered which I felt was very unfair. The exchange shouldn't give excuses such as "orders may or may not be executed" to protect themselves. Instead, they should do everything they can to ensure transparency to its customers. So when a trade REACHES TAKE PROFIT, it should be fulfilled. Because everyone's goal is to make money but if an exchange such as XM cannot promise the fulfilment of a take profit then

1) what's the point of a take profit
2) why should one use XM
3) XM is not to be trusted

Moreover, I feel that it is an exchange's responsibility to uphold these orders and should they not be able to, customers should be reimbursed since we are already paying the spread when a trade is executed. Thus, there is no need for other shady methods of earning from their customers through the compromise of their profits.

Also, I've used this exchange only for a week and already I've faced such a problem. Guys, don't be fooled by the credits that they're offering to lure you into trading with them it's definitely worked for me and now I'm the one with the shorter end of the stick.

Finally, when I had spoken to customer service, I was given generic replies and just felt like they weren't listening to their customers. They were clearly not trying to solve my problem but give me ambiguous replies to try shrug me away from pursuing this further.

Thankfully for me, I had only played with a small amount of money to test the exchange. What's been clearly been shown in the graph that my take profit had hit but not executed angered me as it showed how dishonest this company is. So they take commission from both the spread and the loss of people's investments. I would like to get my money back.
  2 traders have found this review helpful
Reply by Chris Zacharia submitted Feb 5, 2019:
Dear heeyane,

In order for us to be able to transparently investigate your case please provide us the account number(s) and we will follow up with our findings.

Kind regards,
free state, South Africa,
Jan 29, 2019,
Registered user

scammers profits withheld and stolen

un-trustworthy , and not transparent, i deposited 12$ made 15$ in 2 days, withdrew 27$ excluding the 6$ credit with a net equity of 33$, they charged me an exchange rate of R14.5 and paid me exchange rate of R13 on my deposit only no profits were paid out. Scammers!!!!!!!!!!
Reply by Chris Zacharia submitted Jan 31, 2019:
Dear trader305,

Please share your account number. Without it, it is impressible to investigate your claim and to ensure that it is resolved in the best possible manner.

Knowing that you were charged the rate you mentioned, I can only confirm that we do you use multiple payment processors but rand-usd exchange rates that can be charged upon deposit or withdrawal may vary and these rates do not depend on XM.

Kind regards,
Dubai, United Arab Emirates,
Jan 28, 2019,
Registered user

Am not happy with XM, i use to love them

I loved XM until they archived my accounts without notice. I was also Debited 30 USD for the XM debit card, and I never got the card nor a refund. They said the delivery address and the registered address did not match (Can't some relocate to a different country ?). I don't know if they are a scam or not, but am not happy with XM.

I never had withdrawal issues (I loved them for that)

My account numbers are
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Jan 31, 2019:
Dear NdubuisiUkwuani,

Archiving of an account happens only for accounts that are not used for more than 90 days.

If your accounts have been archived that means you had inactive accounts with no balance which were kept inactive for more than 90 days. However please note that you are free to open a new account.

Additionally if you require the history of your archived account, we will be more than happy to provide it for you.

Now in regards to your XM debit card: Your comment is not 100% clear. If you have not been delivered your card that means there was some inconsistency in the data you had inputted as a delivery address. If you want this issue escalated please contact your personal account manager and we will be more than happy to assist you.

Kind regards,
Jan 25, 2019,
Registered user

Arrogant broker!!!

My XM account is 4443870,
I used to trade with 1:888 in XM, and in my trading system high leverage is most important, suddenly XM change it to 1:100 and remove option to change the leverage in my account.

And i got this email from XM :

Dear Valued Client,
Further to our risk management procedures, it has been decided that the maximum leverage to be offered to all of your trading accounts will be 1:100.
Further to the above, it was also decided that your trading accounts will not be eligible to our bonus schemes. As such, any credit bonuses granted to your trading accounts will be deducted and your trading accounts will not be eligible to receive any further bonuses in future.
If you have any question or concerns, please do not hesitate to contact us.

I don't understand what's wrong.
Please XM explain to me in detail where i did wrong in my trading way? I've already reply that email twice ask for detail information about that issue and got no answer (Shame on you XM!!that is make me give you a 2 star here). Actually I love trading with XM but the leverage is everything to me. The main reason I've choose XM is because the leverage 1:888, and if i only got 1:100 leverage...i think i have no reason to stay in XM any longer.
  1 trader has found this review helpful
Reply by Chris Zacharia submitted Jan 28, 2019:
Dear Andri4fx,

You did absolutely nothing wrong and reduction of the leverage that we can offer you is related to our risk management procedures which are related to the trading patterns of clients. Please note our decision regarding leverage change may be reviewed in the future.

I am sorry for any inconvenience this causes and I hope that you will continue trading with XM.

Kind regards,

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.