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
Money Eaters ( Frequently Widening Spread Rates )
Service use: Live
Length of use: 0-3 Months
I am a Trader, have been trading since long time & a 2 week ago I open account with XM.com. My Experience is very bad, I have noticed that spread rates is widening every now and then on all the pairs.
Suppose GBPUSD pair I have taken long & short same time after some time the spread rate difference is widening. I personally feel like they are eating my profit by widening the spread rates.
After reading the reviews here, now, I am finding myself in the same situation. God Help Me.
Suppose GBPUSD pair I have taken long & short same time after some time the spread rate difference is widening. I personally feel like they are eating my profit by widening the spread rates.
After reading the reviews here, now, I am finding myself in the same situation. God Help Me.
2 traders have found this review helpful
Reply by Chris Zacharia submitted Apr 22, 2020:
Dear Syedsmart4u,
Please note that as stated in our official website, in XM we offer variable spreads and in order to keep spreads as narrow as possible, we aim to get optimal prices from all our liquidity providers.
However, due to the fact that spreads depend on market conditions, the unprecedented event which has been declared as a global pandemic (COVID-19), has led to extreme market volatility and abnormal market conditions such as thin market liquidity, abnormal spreads, etc.
Although we try our best to keep spreads as low as possible, the latter has affected the spreads provided by our Company and unfortunately, such conditions fall beyond our Company's reasonable control.
Thank you,
Please note that as stated in our official website, in XM we offer variable spreads and in order to keep spreads as narrow as possible, we aim to get optimal prices from all our liquidity providers.
However, due to the fact that spreads depend on market conditions, the unprecedented event which has been declared as a global pandemic (COVID-19), has led to extreme market volatility and abnormal market conditions such as thin market liquidity, abnormal spreads, etc.
Although we try our best to keep spreads as low as possible, the latter has affected the spreads provided by our Company and unfortunately, such conditions fall beyond our Company's reasonable control.
Thank you,
Xm is now bad ,ruunn..........
Service use: Live
Length of use: 0-3 Months
Xm is now beating out their clients. If your trades go in profits,they widen their spreads so that you can make less ,but if it goes against you ,they don't,and the movement becomes fast than when going in profits, e.g I traded gold this morning and placed 4 orders ,guess what ,it went to profits but it stopped when it made profit of $1.27,and never moved more further.
Jan 5, 2020 - 5 Stars So ,few weeks ago I made a withdrawal and it didn't reflect on my account, I even posted such in here,I spoke to them about that issue and they heard me ,so they gave me the swift code which was legit ,which made me get my withdrawal,
What amazed me about xm broker is that ,they made a follow up of my case even though I didn't contact them,I was soooo soo amazed about that ,it was my first time seeing such a broker doing follow ups on their clients,some broker could have ignored me or maybe even blocked but xm didn't ,I love you guys keep doing the good job,
Dec 6, 2019 - 1 Star I believe XM is not the best broker as we all believed, I withdrew 6 days (working days) ago but still I didn't get that money, I have talking with them like everyday after those 6days ,but they keep saying that it'll click ,what disappoint me is that,I withdrew with someone the same day ,he got his money within 24hrs ,as for me ,I didn't get ,so people run away from these broker ,they gonna give you a heart attack ,like they are doi doing to me right now,choose better brokers
Reply by Chris Zacharia submitted Dec 23, 2019 Dear Qalo E.N Rabiri,
I have investigated your account,
From what I see on 6/12 (6th of December) which is also the day you posted this review, you requested from the XM Live Chat proof of your withdrawal.
The same day a copy of the swift was sent to you (once it was provided by XM Backoffice).
To reply to your question withdrawals on verified accounts are Yes processed within 24 hours but wire transfers might take up to 5-7 days to arrive in your bank depending on the bank you use and where you are located.
Thank you,
Jan 5, 2020 - 5 Stars So ,few weeks ago I made a withdrawal and it didn't reflect on my account, I even posted such in here,I spoke to them about that issue and they heard me ,so they gave me the swift code which was legit ,which made me get my withdrawal,
What amazed me about xm broker is that ,they made a follow up of my case even though I didn't contact them,I was soooo soo amazed about that ,it was my first time seeing such a broker doing follow ups on their clients,some broker could have ignored me or maybe even blocked but xm didn't ,I love you guys keep doing the good job,
Dec 6, 2019 - 1 Star I believe XM is not the best broker as we all believed, I withdrew 6 days (working days) ago but still I didn't get that money, I have talking with them like everyday after those 6days ,but they keep saying that it'll click ,what disappoint me is that,I withdrew with someone the same day ,he got his money within 24hrs ,as for me ,I didn't get ,so people run away from these broker ,they gonna give you a heart attack ,like they are doi doing to me right now,choose better brokers
Reply by Chris Zacharia submitted Dec 23, 2019 Dear Qalo E.N Rabiri,
I have investigated your account,
From what I see on 6/12 (6th of December) which is also the day you posted this review, you requested from the XM Live Chat proof of your withdrawal.
The same day a copy of the swift was sent to you (once it was provided by XM Backoffice).
To reply to your question withdrawals on verified accounts are Yes processed within 24 hours but wire transfers might take up to 5-7 days to arrive in your bank depending on the bank you use and where you are located.
Thank you,
2 traders have found this review helpful
Reply by Chris Zacharia submitted Apr 14, 2020:
Dear Qalo E.N Rabiri,
In order to be able to investigate your case I will need:
a) Ticket Number of Order
b) The Account number
To be clear and transparent about b). I can find 5 accounts under a name similar to yours so I want to be 101% sure.
Once you provide me a) and b) I will be able to transparently follow up with you here.
Thanks,
In order to be able to investigate your case I will need:
a) Ticket Number of Order
b) The Account number
To be clear and transparent about b). I can find 5 accounts under a name similar to yours so I want to be 101% sure.
Once you provide me a) and b) I will be able to transparently follow up with you here.
Thanks,
A
They are scamers
Service use: Live
Length of use: 3-6 Months
I been dealing with some of companies xm one of them i started my trading with xm they giving me bouns 30$ to start my trading as no need to deposit, i had taken this as advantage to see how they are dealing with all process and how much they are fast in withdrawals i had traded for 3 months i got 110$ above the bouns then i decided to withdraw 50$ then they sent me an email we stopped your account as u used one IP to trade in two different accounts even they didn't give me a chance to explain to them this was my wife account she also a trader. They are a scamers please stay away of this company
2 traders have found this review helpful
Reply by Chris Zacharia submitted Apr 14, 2020:
Dear AhmedAly,
Your title “They are Scammers” does not really reflect reality.
It is crystal clear in the Terms of claiming the No Deposit Bonus which is available in your region that this promotion can be claimed once. Now the fact that the same IP or same device or same household have claimed it twice is against the Terms and Conditions regardless if this account belongs to your wife. It is simply not allowed and that is clearly stated in the terms of this promotion.
In a normal case, both accounts are terminated and closed. In your case I have asked for an exemption. The accounts will not be terminated but trading activity or profits derived by using the No Deposit Bonus promotion will be nullified.
I would suggest you refrain from calling companies on public forums “Scammers” when you have clearly violated the rules of a promotion given in good faith.
I have gone the extra mile and asked for an exclusion in your case so they do not close your accounts but I don’t appreciate having the company called a “Scammer”.
Thanks,
Your title “They are Scammers” does not really reflect reality.
It is crystal clear in the Terms of claiming the No Deposit Bonus which is available in your region that this promotion can be claimed once. Now the fact that the same IP or same device or same household have claimed it twice is against the Terms and Conditions regardless if this account belongs to your wife. It is simply not allowed and that is clearly stated in the terms of this promotion.
In a normal case, both accounts are terminated and closed. In your case I have asked for an exemption. The accounts will not be terminated but trading activity or profits derived by using the No Deposit Bonus promotion will be nullified.
I would suggest you refrain from calling companies on public forums “Scammers” when you have clearly violated the rules of a promotion given in good faith.
I have gone the extra mile and asked for an exclusion in your case so they do not close your accounts but I don’t appreciate having the company called a “Scammer”.
Thanks,
Closed my account(s)
Service use: Live
Length of use: 0-3 Months
Suddenly they closed all mijn open positions. I didn't do anything wrong. (no excessive usage or something). I had no warnings, and they don't tell me the reason. They simply don't respond. Worst broker I have signed up with in the last 5 years. (and I signed up with a lot of brokers).
I received the following email:
Dear Sir/Madame
We are writing in connection with your accounts (hereinafter “your Account”) with our company.
Pursuant to section 90 of 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 Account will be temporarily suspended for the next seven calendar days and then permanently disabled.
Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have decided, with immediate effect to, (i) close all of your trading Accounts with Trading Point.
In view of the above, please note that you will be strictly prohibited from opening any new trading account(s) and trade with our company. Nonetheless, in cases where you may successfully open an account and trade with our company due to any technical and/or human error, we reserve every right to immediately close your account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges, back to the same source of deposit.
Please note that, in accordance with the terms and conditions, our decisions are final and binding on all participants and that, other than the notification set forth herein, no further correspondence will be entered into.
Kind Regards
Mar 3, 2020 - 1 Star Suddenly they closed all mijn open positions. I didn't do anything wrong. (no excessive usage or something). I had no warnings, and they don't tell me the reason. They simply don't respond. Worst broker I have signed up with in the last 5 years. (and I signed up with a lot of brokers).
I received the following email:
Dear Sir/Madame
We are writing in connection with your accounts (hereinafter “your Account”) with our company.
Pursuant to section 90 of 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 Account will be temporarily suspended for the next seven calendar days and then permanently disabled.
Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have decided, with immediate effect to, (i) close all of your trading Accounts with Trading Point.
In view of the above, please note that you will be strictly prohibited from opening any new trading account(s) and trade with our company. Nonetheless, in cases where you may successfully open an account and trade with our company due to any technical and/or human error, we reserve every right to immediately close your account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges, back to the same source of deposit.
Please note that, in accordance with the terms and conditions, our decisions are final and binding on all participants and that, other than the notification set forth herein, no further correspondence will be entered into.
Kind Regards
Reply by Chris Zacharia submitted Mar 30, 2020 Dear Mike,
I will need your account number in order to investigate this properly for you.
Thanks,
I received the following email:
Dear Sir/Madame
We are writing in connection with your accounts (hereinafter “your Account”) with our company.
Pursuant to section 90 of 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 Account will be temporarily suspended for the next seven calendar days and then permanently disabled.
Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have decided, with immediate effect to, (i) close all of your trading Accounts with Trading Point.
In view of the above, please note that you will be strictly prohibited from opening any new trading account(s) and trade with our company. Nonetheless, in cases where you may successfully open an account and trade with our company due to any technical and/or human error, we reserve every right to immediately close your account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges, back to the same source of deposit.
Please note that, in accordance with the terms and conditions, our decisions are final and binding on all participants and that, other than the notification set forth herein, no further correspondence will be entered into.
Kind Regards
Mar 3, 2020 - 1 Star Suddenly they closed all mijn open positions. I didn't do anything wrong. (no excessive usage or something). I had no warnings, and they don't tell me the reason. They simply don't respond. Worst broker I have signed up with in the last 5 years. (and I signed up with a lot of brokers).
I received the following email:
Dear Sir/Madame
We are writing in connection with your accounts (hereinafter “your Account”) with our company.
Pursuant to section 90 of 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 Account will be temporarily suspended for the next seven calendar days and then permanently disabled.
Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have decided, with immediate effect to, (i) close all of your trading Accounts with Trading Point.
In view of the above, please note that you will be strictly prohibited from opening any new trading account(s) and trade with our company. Nonetheless, in cases where you may successfully open an account and trade with our company due to any technical and/or human error, we reserve every right to immediately close your account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges, back to the same source of deposit.
Please note that, in accordance with the terms and conditions, our decisions are final and binding on all participants and that, other than the notification set forth herein, no further correspondence will be entered into.
Kind Regards
Reply by Chris Zacharia submitted Mar 30, 2020 Dear Mike,
I will need your account number in order to investigate this properly for you.
Thanks,
scamers
Service use: Live
Length of use: 0-3 Months
they are totally scammers i have account no 60747364 and i started invest in oil from price 21. after i get some profite and requested withdraw they cancelled my profite and closed my open positions and canceled some of my deposite amount , i traid to contact their support but they are scamers dont give those scamers ur hard earning money
3 traders have found this review helpful
Reply by Chris Zacharia submitted Apr 13, 2020:
Dear Orvant,
When the client is correct, I will transparently follow up and say you are correct.
Our system flagged you as "suspicious", you were sent an email and you made a rebuttal and a complaint and it was proved you are correct and not the company.
You were refunded and the company also added a "bonus" balance to show its remorse for the mistake.
From what I see from my investigation this issue was settled most likely before you posted this review.
I remain at your disposal.
Thanks,
When the client is correct, I will transparently follow up and say you are correct.
Our system flagged you as "suspicious", you were sent an email and you made a rebuttal and a complaint and it was proved you are correct and not the company.
You were refunded and the company also added a "bonus" balance to show its remorse for the mistake.
From what I see from my investigation this issue was settled most likely before you posted this review.
I remain at your disposal.
Thanks,
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.