XM review: Regulations, Platforms, Features and Ratings.
3.088 •
674 REVIEWS
Trading Point of Financial Instruments
Also XMTrading.com
Updated: Mar 26, 2023
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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.
Broker Details
| Minimum Trade Size: | 0.01 |
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| Maximum Leverage: | 1000:1 |
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| Minimum to Open Live: | $5 |
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| Established: | 2009 |
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| 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 |
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| Web Trading: | ✅ Yes |
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| Mobile Trading: | ✅ Yes |
| Currencies: | (55+) |
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| Cryptocurrencies: | (30+) |
| CFD: | (940+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities |
Trading Conditions |
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| EAs/Robots: | ✅ Yes |
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| News Trading: | ✅ Yes |
| Scalping: | ✅ Yes |
| Deposit Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill |
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| Withdrawal Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill |
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3.088 •
674 REVIEWS
Traders Reviews
Got My Cash
Service use: Live
Length of use: over 1 Year
Some months ago I can on this page reading some reviews of what traders thought about XM... Truth be told,after trading and making profits I made a withdraw request, first week the cash wasn't in... I contacted support they told me I should give it another week and if its not in I should send them a shout out... Great news is it came in before I even started the week... I love XM just the spreads I worry about but so far so good they alright... I hope they will introduce Ecn account too.
H
blocked after my first withdrawal, 80% of my deposit stolen the next day
Service use: Live
Length of use: 0-3 Months
i read lots of reviews here and i thought that was an honest broker responding to almost every bad review and asking for details to clarify the picture and investigate the case, will see now what will happen, i'll reply to this review of what happens and will probably go to court for all new users to know that they are scammers
my account number :54161285
my story : i made my first withdrawal and they sent me an email that it was processed (didn't receive yet - but we will see in a couple of days) to find my account was blocked the same day ! i contacted customer support the agent told me that an email was sent to me (i never received it) and he also told me that doesn't know any details and that he asked them to send it again (they never did)
so i sent them official customer support mail which should be processed in 24 hours asking them to send me that email to know what on earth did i do wrong and clarify the picture (they never responded) i logged into my account after the 24 hours passed to find that 80 % of my remaining deposit are GONE!!!!
i contacted the customer support again and they told me that they don't know poop and i should what for that poopy email!! I HONESTLY THINK THAT THEY ARE STALLING TO STEAL MY MONEY IF I DID NOTHING!
my account number :54161285
my story : i made my first withdrawal and they sent me an email that it was processed (didn't receive yet - but we will see in a couple of days) to find my account was blocked the same day ! i contacted customer support the agent told me that an email was sent to me (i never received it) and he also told me that doesn't know any details and that he asked them to send it again (they never did)
so i sent them official customer support mail which should be processed in 24 hours asking them to send me that email to know what on earth did i do wrong and clarify the picture (they never responded) i logged into my account after the 24 hours passed to find that 80 % of my remaining deposit are GONE!!!!
i contacted the customer support again and they told me that they don't know poop and i should what for that poopy email!! I HONESTLY THINK THAT THEY ARE STALLING TO STEAL MY MONEY IF I DID NOTHING!
1 trader has found this review helpful
Reply by Chris Zacharia submitted Apr 30, 2020:
Dear Hussein Magdy,
Following investigation of your trading accounts and trading activity, I regret to inform you that your trading accounts were terminated due to the fact that you were placing opposite orders within your trading accounts.
This cannot be deemed as an acceptable strategy as you create an environment which does not follow the fair rules of trading and makes the strategy in a way risk free and therefore not permitted. It should be also noted that the latter constitutes a violation of our terms and conditions of business. In addition to the previously-mentioned, I can confirm that the remaining balance in your trading account can be withdrawn using an alternative method of withdrawing as your initial source of deposit has been fully refunded.
Regarding the issue raised in relation to your withdrawal request dated 23/04/2020, I can confirm that it was correctly and successfully processed by our Back Office Department. Particularly and as you were accurately informed via email, the funds were sent back to the initial source of deposit within the relevant processing hours (i.e., within 24 business hours of the withdrawal receipt) by our Company; however, Cards settlements take approximately 2-5 working days to be completed and funds to be reflected into your records. As the timeframe under question has not passed yet, please allow some time in order for your funds to be reflected.
In case you do not receive the funds under question within the mentioned timeframe, please note that following the 10th working day of the finalization of the withdrawal, you may contact our Customer Care personnel in order to further assist you with the issue (i.e., provide you with the ARN in order for you to be able to locate the funds with the assistance of your Bank).
Thank you,
Following investigation of your trading accounts and trading activity, I regret to inform you that your trading accounts were terminated due to the fact that you were placing opposite orders within your trading accounts.
This cannot be deemed as an acceptable strategy as you create an environment which does not follow the fair rules of trading and makes the strategy in a way risk free and therefore not permitted. It should be also noted that the latter constitutes a violation of our terms and conditions of business. In addition to the previously-mentioned, I can confirm that the remaining balance in your trading account can be withdrawn using an alternative method of withdrawing as your initial source of deposit has been fully refunded.
Regarding the issue raised in relation to your withdrawal request dated 23/04/2020, I can confirm that it was correctly and successfully processed by our Back Office Department. Particularly and as you were accurately informed via email, the funds were sent back to the initial source of deposit within the relevant processing hours (i.e., within 24 business hours of the withdrawal receipt) by our Company; however, Cards settlements take approximately 2-5 working days to be completed and funds to be reflected into your records. As the timeframe under question has not passed yet, please allow some time in order for your funds to be reflected.
In case you do not receive the funds under question within the mentioned timeframe, please note that following the 10th working day of the finalization of the withdrawal, you may contact our Customer Care personnel in order to further assist you with the issue (i.e., provide you with the ARN in order for you to be able to locate the funds with the assistance of your Bank).
Thank you,
Good stable broker with high spreads and smooth withdrawals
Service use: Live
Length of use: over 1 Year
XM is my first broker where I opened an account almost 3 years ago. First was demo, after real.
In general i'm happy with them, as found here everything I need for trading. I like their educational materials and free daily signals, really zero fees and fast withdrawals. One time also got a bonus.
From the other side, their spreads could be much lower. This forces to trade with higher leverage that increases risks.
If you want to open account with XM, read carefully their Terms before, don't breach them and everything will be fine.
4 stars from me because of high spreads.
In general i'm happy with them, as found here everything I need for trading. I like their educational materials and free daily signals, really zero fees and fast withdrawals. One time also got a bonus.
From the other side, their spreads could be much lower. This forces to trade with higher leverage that increases risks.
If you want to open account with XM, read carefully their Terms before, don't breach them and everything will be fine.
4 stars from me because of high spreads.
J
justin
3123, South Africa,
Apr 23, 2020,
Guest
This broker has messed me around for a week now with my identification documents, I have now given them my drivers license,certified copy of my national id, color photo of my temporary id and coloured photo of my passport yet somehow I am still denied. waste of my time I would rather use other brokers who have excepted me with less than half of this information.
Reply by Chris Zacharia submitted Apr 30, 2020:
Dear Justin,
In order for me to be in position to fully investigate the issue, please provide me with your account number.
Thank you,
In order for me to be in position to fully investigate the issue, please provide me with your account number.
Thank you,
DO NOT FALL INTO IT< REAL SCAM
Service use: Live
Length of use: 0-3 Months
i traded a few barrels of oil just today to try out but unbelievably they withdrew my whole deposit which was more than the amount I traded then they said i lost 20% then i said ok so what happened to the rest of my deposit, they said will back to you later.
ANYWAY, I LOST MY MONEY, AND IT IS YOUR MONEY TO DECIDE TO LET THESE CROOKS TO TAKE IT, JUST SHARED MY DAMN STUPIDITY
ANYWAY, I LOST MY MONEY, AND IT IS YOUR MONEY TO DECIDE TO LET THESE CROOKS TO TAKE IT, JUST SHARED MY DAMN STUPIDITY
2 traders have found this review helpful
Reply by Chris Zacharia submitted Apr 30, 2020:
Dear Francisj,
Please provide me with your account number in order for me to be able to fully investigate the issue.
Thank you
Please provide me with your account number in order for me to be able to fully investigate the issue.
Thank you
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/
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.
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.
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.
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.
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.
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.
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.
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.