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: 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

cairo, Egypt,
Aug 4, 2016,

i register with xm now almost a year now and I tell you what it is an amazing company that deserve more credit i can't find anything about wrong about it maybe the spread a little high sometime but it is fine and the withdrawal is very fast I had no problem with it the bounce amazing i just want to wrote this because nobody write a feed back when things are good i find this company very satisfying i don't think i am gonna change it for now.
Mhanad Muhsen Alsaedy
Arbil, Iraq,
Aug 3, 2016,

this xm is good brokr onlu problem is too many much email letter they send me and i dont like this beacuse no unsubscrib option
Reply by Andrey submitted Aug 11, 2016:
Dear Mhanad Muhsen Alsaedy, You may unsubscribe from our newsletters at any point of time. If you no longer wish to receive newsletters from XM, please click on "Unsubscribe" at the bottom located at the bottom of each newsletter. Please note that if you choose to unsubscribe, you will also no longer receive important notifications concerning changes in trading conditions/hours that we send from time to time. Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
, Malaysia,
Aug 1, 2016,

My account number 2661813

Bad experience!! It's purely a market maker broker. in the website they said they allow news trader. there is once i place a pending order before news, they keep removing all my pending orders and doesnt allow me to place before news. When i complaint they said they dont allow us to place pending orders before news!

TODAY, i wanted to trade RBA rate cut too. I have entered a sell trade and my trade was profiting. the moment i close the trade, my trade was around 130+ profits, but after closed it, i check back the history the trade was closed with negative. at the moment i close the trade the market is not moving very fast anymore!!!!!!!!

so means they dont allow me to trade news!
Reply by Chris Zacharia submitted Aug 2, 2016:
Dear Jacqueline, First of all, news trading is allowed and we never cancel pending orders for this reason. You can place pending or market order at any time of the day, regardless if there are news announcements or not. The only reason why a pending order may get automatically cancelled is when the market reaches the price you set and you do not have sufficient funds for this order to be executed. Second, our logs show that you have cancelled pending orders in question yourself. These orders have been placed and cancelled from the same IP. If you check your MT4 logs, you will also see that the request to cancel these orders came from your side. Finally, when trading on the news your profit/loss may change significantly in matter of seconds due to price volatility. However, I can assure you that we always aim at executing clients' orders at the best available market prices in any market conditions. Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Lancashire, United Kingdom,
Jul 25, 2016,

I've traded with XM on and off for a few years. Due to past experiences, I do not trust brokers by default so I have used XM with the expectation they would attempt to rip me off at some point.

It genuinely surprises that my experience with XM has been generally excellent apart from the occasional customer service gaff.

The spreads aren't the best in the world but after factoring in XM's consistency of execution, low slippages etc then XM are actually cheaper to trade with than many other brokers especially after XMP (see below). What I like most is the peace of mind I get, I am able to leave my experts running in the confidence nothing untoward will occur in my absence.

The cent account functions exactly the same as a standard account and is an excellent tool for testing systems.

Additionally, XM offers a real-time XMP lot based bonus system so I receive rebates daily which is nice. I still have an ECN account with another broker but I will continue to use XM for as long as their service remains so robust.

Please note: I have traded close to 10000 trades with this broker over the past few years.

2015-12-24 2 Stars XM is an excellent broker for traders who haven't learnt how to make money trading the markets. As soon as a trader graduates from being a loser to being a consistent winner, XM will cause you many many problems with the usual bucket shop tactics.

The micro accounts are useful and a low-cost way to forward test strategies, I prefer to forward test on a live account vs demo account so using a micro means the losses and profits are in the pence/cents. Beyond this, if you can afford it use an ECN broker all the time.

Rebuttal: Added by Chris A. Zacharia on 2015-12-31
Content: Dear Max,

I am glad to hear that you have found our micro accounts to be useful but at the same time I was surprised to read your comment about the "bucket shop tactics". Can you please elaborate on that?

XM is a reputable financial institution and we value every single client. If you have experienced any issues, I kindly ask to share your MT4 ID and post any specific concerns that you might have.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
SOUTH AFRICA, South Africa,
Jul 13, 2016,

i have decided to join xm.com since i see dedication in them taking time to respond here, however i am getting a run around with them accepting my docs, and now i am thinking of going with another broker.
Page 79 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.