XM review: Regulations, Platforms, Features and Ratings.
3.092 •
673 REVIEWS
Trading Point of Financial Instruments
Also XMTrading.com
Updated: Mar 8, 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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3.092 •
673 REVIEWS
Traders Reviews
D
Scam broker, do not deposit in such a broker
I tried that broker,,,,it is very bad from the first day, my trading account number 45404545.
After recieving the email of verification, i decided that i will not deposit now , and i asked for the 30 usd free bonus to try the broker.....
I opened a trade that was with profit....
After opening the second one with its tp and sl,,,,,i found that bonus disappeared suddenly with no any apparent reason and trading became disabled.
I made a live chat with the supporting team, they did nothing , and they do not know the reason of what happened.
MY ADVICE TO ALL TRADERS ((((DO NOT DEPOSIT IN XM)))
After recieving the email of verification, i decided that i will not deposit now , and i asked for the 30 usd free bonus to try the broker.....
I opened a trade that was with profit....
After opening the second one with its tp and sl,,,,,i found that bonus disappeared suddenly with no any apparent reason and trading became disabled.
I made a live chat with the supporting team, they did nothing , and they do not know the reason of what happened.
MY ADVICE TO ALL TRADERS ((((DO NOT DEPOSIT IN XM)))
Reply by Chris Zacharia submitted Feb 21, 2023:
Dear Dr ayman fathy,
Following investigation of your trading accounts and trading activity, I can confirm that our business relationship was correctly terminated due to the fact that you were placing opposite orders with another client in order to exploit arbitrage opportunities.
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 view of the above, I regret to inform you that unfortunately, due to the above violation, we are not in position to accept you as a client again.
Thank you
Following investigation of your trading accounts and trading activity, I can confirm that our business relationship was correctly terminated due to the fact that you were placing opposite orders with another client in order to exploit arbitrage opportunities.
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 view of the above, I regret to inform you that unfortunately, due to the above violation, we are not in position to accept you as a client again.
Thank you
F
Not reliable wouldn't recommend depositing in thus broker
Service use: Live
Length of use: 0-3 Months
I have opened a trading account with xm global almost 2 to 3 weeks ago and got my account verified then I began my trading journey with them, so I made a significant amount of trading profits with them during the NFP last Friday and so now when I place a withdrawal they replied to me after 5 hours telling me that my account has been terminated and I have breached their terms and conditions before and therefore my account has been terminated before I reopened it recently, I've asked them to provide evidence to me where my account had been terminated with them before where they communicated with me that they are terminating business relations with me in relation to my account and they said they cannot provide that information, so basically now I have had all my profits revoked without substantial evidence as to why as apparently they are not allowed to provide the evidence of how true their allegations may hold
Reply by Chris Zacharia submitted Feb 21, 2023:
Dear Florance,
I have investigated the issue and I can confirm that our business relationship has been correctly terminated due to the fact that you violated our Terms and Conditions of business.
Particularly, your trading information, including but not limited to the IP address, was the same with other clients of the Company who had also violated the Company's Terms and Conditions.
In view of the above violation, it was correctly decided to nullify all transactions and terminate the business relationship with immediate effect. I can confirm though that you have successfully withdrawn all the funds previously deposited.
In conclusion, I would like to stress the fact that any actions taken by our Company in relation to your trading accounts were fully in line with our Terms and Conditions of business.
Thank you,
I have investigated the issue and I can confirm that our business relationship has been correctly terminated due to the fact that you violated our Terms and Conditions of business.
Particularly, your trading information, including but not limited to the IP address, was the same with other clients of the Company who had also violated the Company's Terms and Conditions.
In view of the above violation, it was correctly decided to nullify all transactions and terminate the business relationship with immediate effect. I can confirm though that you have successfully withdrawn all the funds previously deposited.
In conclusion, I would like to stress the fact that any actions taken by our Company in relation to your trading accounts were fully in line with our Terms and Conditions of business.
Thank you,
I
Very good broker nice service
Service use: Live
Length of use: 0-3 Months
Very good broker my withdrawal 120$ local bank receive only 4hur good broker best service deposit and withdrawal
B
Fast Withdrawal, Good Customer Service, and Honest Broker
Service use: Live
Length of use: 6-12 Months
Wowww, XM withdrawal process is very fast within 1 hour with online bank transfer in Indonesia. I'm amaze how they can do this so quick for the withdrawal. Overall, my review is 5 star for this perfect broker. I'm a user, not a paid person to write a good review. Soo, this review is came out from user.
The customer service is so helpful and there is no price manipulation. I hope XM could improve more by applying a fix rate deposit such as $1 = Rp.10.000 so trader could trade with more balance and espescially there is no spread from the local depositor.
PLEASEEE. IF YOU ARE A SERIOUS TRADER, DON'T TAKE THE BONUS ACCOUNT. Because there is a lot of rules that you need to obey in order to trade at XM. Most problem is came out from the bonus account user who against the rule.
XM is a honest and trusted broker, i recommended this broker for you all -BR141
The customer service is so helpful and there is no price manipulation. I hope XM could improve more by applying a fix rate deposit such as $1 = Rp.10.000 so trader could trade with more balance and espescially there is no spread from the local depositor.
PLEASEEE. IF YOU ARE A SERIOUS TRADER, DON'T TAKE THE BONUS ACCOUNT. Because there is a lot of rules that you need to obey in order to trade at XM. Most problem is came out from the bonus account user who against the rule.
XM is a honest and trusted broker, i recommended this broker for you all -BR141
1 trader has found this review helpful
J
My ugly experience with xm
Service use: Live
Length of use: 0-3 Months
I funded my account, traded lost and funded again make profit withdrew, I was paid part of money, i was ask to use another medium to withdraw the rest. I decided to trade again so made more deposit. Adding to the refund to my account. Open a few trade only to wake up and see that my account is empty. No trade running. An email was later send that my account was link with an account that was close before in that instance all my money is gone. $575 was pull as equity. I have tried to reach so they can explain to me whats really going as I didn't do anything out of place. The only thing is they they gave me bonus that as never been lost , I really understand Xm
Reply by Chris Zacharia submitted Dec 1, 2022:
Dear Jobidoko,
I have investigated the issue and I can confirm that our business relationship has been correctly terminated due to the fact that you violated our Terms and Conditions of business.
Particularly, your trading information, including but not limited to the IP address, was the same with other clients of the Company who had also violated the Company's Terms and Conditions.
In view of the above violation, it was correctly decided to nullify all transactions and terminate the business relationship with immediate effect. I can confirm though that you have successfully withdrawn all the funds previously deposited as well as part of the generated profits prior to these been nullified.
In conclusion, I would like to stress the fact that any actions taken by our Company in relation to your trading accounts were fully in line with our Terms and Conditions of business.
Thank you,
I have investigated the issue and I can confirm that our business relationship has been correctly terminated due to the fact that you violated our Terms and Conditions of business.
Particularly, your trading information, including but not limited to the IP address, was the same with other clients of the Company who had also violated the Company's Terms and Conditions.
In view of the above violation, it was correctly decided to nullify all transactions and terminate the business relationship with immediate effect. I can confirm though that you have successfully withdrawn all the funds previously deposited as well as part of the generated profits prior to these been nullified.
In conclusion, I would like to stress the fact that any actions taken by our Company in relation to your trading accounts were fully in line with our Terms and Conditions of business.
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.