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

Vietnam , Viet Nam,
Dec 2, 2015,

XM is one the bad broker ever , their spread the highest in market , i dont recommend someone open with them , they made me loss 3 times a huge amount once EA start automatically with high lot 15 lot , let say this is not their fault , 2nd issue they closed my trade in loss even i had still with them over than 1500 , they made me loss 1300 .. when i talked to they said automatically stop due to our client protection , knowing when the close trade that transaction hits TP was supposed to hit 700 usd . and they say so sorry that all .
fu** them dont try to with only one positive thing they have is fast execution and mac platform
Reply by Chris Zacharia submitted Dec 17, 2015:
Dear Essa, I understand that you might be frustrated but your statements can mislead other traders. We are offering competitive spreads, and this coupled with the fastest execution in the market, gives our clients a definitive advantage. Spreads may get wider for a brief period of time when major news announcements are released but they get back to the average value within seconds after an announcement. Also, please that stop out occurs when your equity drops to or below 20% of your used margin. At that point, the system will start closing your trades one by one, starting from the most losing one, in order to decrease the used margin, and by doing so, increase the margin level, attempting to push it above 20%. Needless to say that it is important to maintain appropriate margin level at all times in order to avoid this. If you would like to receive further clarifications, I kindly ask to contact our customer support department. Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Mahabubur rahman
dhaka, Bangladesh,
Nov 23, 2015,

In volatile market its spread become wide and you will stop out or hit sl , terminal execution speed is poor. they are market maker and bonus is not usable if you try to make double they will lock account whatever your trading strategy.
Reply by Chris Zacharia submitted Nov 26, 2015:
Dear Mahabubur, At XM we make every effort to keep spreads as low as possible thanks to our partnerships with multiple liquidity providers. This coupled with the fastest execution in the market, allows to offer unrivaled trading conditions to our clients. It is a known fact that it is common for spreads to get wider during new releases that have high impact on the market. XM's spreads depend on prices received from our liquidity providers. Uncertainty and sudden market fluctuations are the main factors that cause liquidity providers to widen spreads during the news. Spreads tend to get back to their average values within less than a minute after the news releases. Please also note that bonus is for trading purposes only, and cannot be withdrawn. We offer you the bonus amount to help you open larger positions and allow you to hold your positions open for a longer period. All profits made with the bonus can be withdrawn at any time. I have checked your accounts and none of them is locked, however some of them have been archived because balance of these account is zero and they have been inactive for a considerable amount of time. Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
LAGOS, Nigeria,
Nov 21, 2015,

I wish to state here clearly that XM.COM is a reputable fx company since I have been trading with them.

Mostly my withdrawal requests were processed within 4 days and due to inter bank delay, I did have my money on the interval of 10 working day in my Nigerian Bank account.

I chose to say this because, since I have been trading with them, they neither cancled my profit nor hold back my requests.

I suggest XM.COM if you need a good broker with INTEGRITY.

ferial nagy
alexanderia, Egypt,
Nov 15, 2015,

On 29/10/2015 I opened an account with xm.com ( account number 2537881 ) and uploaded my documents at the same day.
On 30/10/2015 I received an email that my account is fully validated and i can deposit to start my trades.
Tow days later i deposited 990$ and started my trades and i achieved 2204$ as a profit.
On 5/11/2015 I requested a withdrawal with whole amount 3194$ just to try their honesty.
On 6/11/2015 they sent me my deposit only ( 990$ ) and they cancelled the profit ( 2204$ ) and I received an email from compliance department that my profit is cancelled and my account is disabled because my documents are not accepted although i received an email from them before that my documents are accepted and my account is fully validated.
I tried to contact them again to solve the problem and my account manager asked me for more documents and i already brought these documents signed and sealed and took photos for these documents by my mobile camera and sent them to the company and no reply.
I sent many mails to compliance department and my account manager but they ignore me.
I can confirm that this company is scam and cheats her clients.
Reply by Chris Zacharia submitted Nov 15, 2015:
Dear Ferial Nagy, We are always committed in providing excellent service to our clients and we take pride in our reputation. As a European Union regulated broker and since we comply with many authoritative bodies, there are certain procedures that we are bound to follow such as KYC (know your client). I would like to highlight that the reason for closing your account and refunding back your initial deposit is due to the fact that upon additional review of your documents by our Compliance Department, it has been concluded that the documents you have provided us with show signs of alterations (digitally edited). You have been asked to post certified true copies of the document, but you were not willing to comply with our request. In view of the above suspicion and as per our procedures, I kindly ask you to provide us with certified true copies of the KYC documents. Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Chudaraj Pradhan
kathmandu, Nepal,
Nov 2, 2015,

Warning , ...................

xm is not paid my profit amount and not refund my deposit amount. 4 days pending after they did rejected my withdrawal requested and when call my account manager , he told me i will verified your withdrawal and after 12 hour they did disable my account. xm rule is only for client not for company they not paid my amount 4 days long time ,

2015-11-02 2Star I got problem on xm , i requested my withdrawal at 29/10/2015 04:10:35, and they rejected my withdrawal after 4 days ,130 USD and xm didn't paid my money after long time pending, they rejected my withdrawal , when my account manager called me and he told me i will verif your withdrawal but after 12 hour they did reject my withdrawal this is my account no : 2529061 .
Reply by Chris Zacharia submitted Nov 3, 2015:
Dear Chudaraj, Your trading account has been blocked because you have violated fair rules of the XM's bonus promotions by engaging in cashback arbitrage activities with another client. According to the terms and conditions such activities are strictly prohibited and may lead to termination of a trading account. Also, I would like to confirm that your deposit of USD 10.15 was returned in full on the 3rd of November. Kind regards, Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
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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.