XM review: Regulations, Platforms, Features and Ratings.

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

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: βœ… Yes
Mobile Trading: βœ… Yes

Trading Instruments

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

Trading Conditions

EAs/Robots: βœ… Yes
News Trading: βœ… Yes
Scalping: βœ… 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

P
Turkey,
Jan 12, 2017,
Registered user

good broker

I had an afraid as cyprus broker - XM. But I did not have problem with them. I withdrawal 7 times more profit than my initial deposit. And they did not ask me why what or delay my withdrawals. My account number is 3168118.
They processed my withdrawal requests very fastly.
They are better than most of brokers around the world. E.G. I am waiting gain capital forex.com to process my withdrawal for a week.
It is hard to write good reviews for forex brokers. But I want to write this good review because I appreciate their work.
E
Dubai, United Arab Emirates,
Jan 8, 2017,
Registered user

Xm broker is scam now it treat like ironfx so stop work in xm

17040471 my client ac number xm broker is scam now He has request the withdraw on 28 December 2017 of just 200$ skrill.Till now they cannot pay my withdraw when i go to spport first they tell me there is new year holidays so withdraw processing is little slow now they cannot reply me kindly all people leave xm
1 trader has found this review helpful
E
Reply by Chris Zacharia submitted Jan 19, 2017:
Dear Ehsan Elahi,

I would like to ask you to check your e-mail, because you have received an e-mail regarding your case.
A
Colombo, Sri Lanka,
Jan 4, 2017,
Registered user

Most Wors Site

they dont Receive 1.
One of a Worst site and becoming a scammer .
They adding ads on all site "free $30 bonus no deposit just register you will get"
but after registration they dont provide $30 bonus asking to verification.
if we upload verification documents they dont verify and they asking address billing proof when we provide address billing proof they asking same name billing proof , ahahaha they think people all over the world have THERE OWN HOME.

they only verify account who has own home.

bu*** site please dont waste your time with them. if your deposit money with them i am sure when you withdraw they will ask for verification .
A
Reply by Chris Zacharia submitted Jan 11, 2017:
Dear ashclicks,

Please kindly note, that as a regulated forex company we only can accept utility bill on your name with the address or a bank statement as a proof of residency.
G
Germany,
Dec 28, 2016,
Registered user

I have read that XM has now an UK licence, this is an great step and makes XM for me interesting. I will try an demo and come back with my review.
A
Abu
KL, Malaysia,
Dec 22, 2016,
Guest

Stop it.

Please stop calling your clients to deposit funds into their accounst every other day. It's getting annoying!!!

XM is becoming like one of those Binary option scam site.
Page 73 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.
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.

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.