XM review: Regulations, Platforms, Features and Ratings.

3.108 • 689 REVIEWS
Trading Point of Financial Instruments Also XMTrading.com Also XMArabia.net
Updated: Apr 15, 2024

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 note that the products, services, and features advertised here vary between the XM entities. For
further information, please visit the XM website.

Please read XM Reviews below and share live trading experiences with this broker.

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 #000261/397, CySEC #120/10, DFSA #F003484
Prohibited countries: Show all >>
Trading platforms: MT4, MT5, XM App
Web Trading: βœ… Yes
Mobile Trading: βœ… Yes

Trading Instruments

Currencies: (50+)
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
* Please check broker website for more information
3.108 • 689 REVIEWS

XM Most Helpful Customer Reviews

DKI Jakarta, Indonesia,
Nov 8, 2022,
Registered user

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
4 traders have found this review helpful
Western Cape, South Africa,
May 18, 2022,
Registered user

Trading with them Since 2020, great broker.

Service use: Live Length of use: over 1 Year
I've been with XM since 2020, they are a good broker from my experience so far until this year of my review 2022. Easy deposits and easy withdrawals. I've never had a problem withdrawing from them. With their micro accounts they made it easy for beginners to start trading small which I love a lot. Their account bonusses really helps a lot as a beginner trader also. They are recommended by me for a fact if you are just starting out. When you get more experienced you can select a different account from them and still enjoy them. Thank you XM for the great work so far.
2 traders have found this review helpful
Mohammad EL Henawy
Tanta, Egypt,
Jun 14, 2021,
Registered user

Good overall broker

Service use: Live Length of use: 0-3 Months
I tried the Ultralow micro account, spreads where tight as promised, even during news times, it was still better than i some other brokers.

i did compare spreads myself.

Regarding deposit and withdrawal, i used skrill, deposit was literally instant, withdrawal took 30min max.

Chat support is good, agents respond pretty fast and are aware of the details, i liked it too.

what i didn't like was the MT5 platform, the news tab wasn't working, i had to keep switching windows to stay updated, i hate that.

and autochartist can't be integrated with the XM MT5 account, live chat agents couldn't help me regarding these two matters.

and the XM mobile app, it is not good at all and way too simple, I had to use MT5 mobile app if i wanted to do some decent analysis on the go.

overall, XM is a good broker and i liked my experience despite these downsides, but had to leave XM for a better platform at another broker.
1 trader has found this review helpful
Bukavu, Congo, The Democratic Republic of The,
Mar 1, 2021,
Registered user

Inability to use the proposed leverage effect

Service use: Live Length of use: over 1 Year
I have been using Xm since 2017, and everything was fine, I was really losing more 'money than I was making and until August 12, 2020 when I spotted a really good opportunity that I jumped on on NZDUSD and make a really good profit of over $ 3000 which allowed me to cover all the losses I had experienced before. And this is what raged at the broker, so they changed my leverage by forbidding to use leverage above 1: 100 while he offered 1: 888, then all my bonuses were taken from me , then he offered a possibility to withdraw the profit by bank, when I tried they told me that they cannot authorize my withdrawal by bank. So many complications followed and I asked myself why all this today? Why wait until the day that I become profitable to change their policy when I have already been using the same strategy for 3 years? I believe that with xm everything is fine if the client loses money but as soon as you become profitable expect unpleasant surprises. I don't recommend this broker if you want to become a professional trader.
1 trader has found this review helpful
Reply by Chris Zacharia submitted May 19, 2021:

I have investigated the issue related to your review and I can confirm that any actions taken in relation to your trading account with our Company were correctly and fully in line with our Company's Terms and Conditions of business.

Particularly, I can confirm that the leverage ratio in your trading accounts is set to 1:100 and you will no longer be eligible to participate in any trading bonus programs, due to risk management procedures and the nature of your trading activity.

As per my investigation, the trading patterns and trading behavior in your trading accounts were indicating that you were exploiting the applicable leverage ratio of the said trading accounts aiming to solely benefit financially during trading hours where market volatility is significantly high.

In view of the above, I would also like to inform you that the same trading conditions will apply to any new trading account(s) registered with our Company.

Thank you
Kampala, Uganda,
Feb 27, 2021,
Registered user

Possibly the best retail forex broker globally! Absolutely superb service!

Service use: Live Length of use: 0-3 Months
Trading experience - Platform response - 5/5
I joined and got validated on XM in early February 2020. I began trading with a fairly decent account that has since grown close to 190% largely due to the ability to utilize my strategy on their ultra low standard accounts where the spreads are low - based on the industry average - above average spreads favourable for most assets.

Customer care - 5/5
The customer care service is just a button away in the members area! Available in under a minute from clicking the button. They are quick to guide and assist on whatever you ask them.

Access to funds - Settlement/Withdraw - 5/5 - Industry best
Withdraws or settlements typically take under 2 hours via the MOBILE MONEY(AIRTEL OPTION) which is quite fair. I also notice that the currency conversion rate is taken at market.

Education - 5/5 - Industry best
The research and metrics shared via their research and education is surely quite the best. The only broker that can compare to them is IG but still XM beats them at indepth analysis. Believe me when I say so as I am in research and analysis in my dayjob.

Final Comment:
I respect other people's reviews but those trying to tarnish XM. Please step up to the challenge or opt for another broker but don't bring it down especially when their services are surely unprecedented! I overall give them a 5/5 - 100%
3 traders have found this review helpful

Recent User Reviews of XM

Lagos, Nigeria,
Apr 15, 2024,
Registered user

XM took my $247 profits

Service use: Live Length of use: 0-3 Months
I got referred by a friend. I traded and made profits of $247 and then I withdrew. XM canceled my withdrawal and removed my profits claiming that the person who referred me was placed on 1:100 leverage. I don’t understand how this is a reason to prevent me from trading and withdrawing my profits. XM are have gone rogue. 
2 traders have found this review helpful
Indonesia, Indonesia,
Mar 27, 2024,
Registered user

Withdrawal not received within 5 days.

Service use: Live Length of use: 6-12 Months
I made my withdrawal on the 21st March 2024 but until now (28 March 2024) I did not receive any payment. I contacted the customer service saying that the process will take 5 days business day process but today is the fifth day and still I didn't get it.
3 traders have found this review helpful
Barcelona, Spain,
Mar 2, 2024,
Registered user

Overall I have a good impression of this company

Service use: Live Length of use: 6-12 Months
I just wanted to leave a review for XM after using it for 6 months. I am very content with the service provided by this company. The most important thing: Quick withdrawals. On the Standard-Accounts the spreads are a little bit high, but if it is something that is important for you, you can choose Ultra-Low-Standard-Accounts. I personally haven't tested it.

Overall I have a good impression of this company and will continue my trading with them.

I hope this review will help someone.
1 trader has found this review helpful
cidade del este, Paraguay,
Feb 4, 2024,
Registered user

Best broker , trying hard to stay at top

Service use: Live Length of use: over 1 Year
While other brokers getting worse while time pass , XM is just improving : quality of execution , spread , withdrawals .

Deposit and with drawal are almost instant , depending the method .
I use XM since 2017 but the condtions are far away better than 7 years ago , everything is better .

the first notable thing is they don t trade against you , when there is slippage in your favor , you are getting paid the fair price , not like many others brokers that will use your limit TP to make additionals dollars from you and will execute you at worst in case of bad slippage ( resume : you always lose )

I use bots to trade and this is absolutely fair , everything is running smoothly , even for scalping .
the spread is 1 pip or less on eurusd , wich means there is no commission and no swap , so for me its the better spread ever .
I read bad reviews here , and it s obvious that these bad reviews are writed by abuser or rookie , I have 20y trading experience and its the best broker available now in 2024

Thank you XM , please stay the same for ever

Sep 7, 2020 - 5 Stars I am very surprised to read bad reviews over this company , most of them seems to be from newbies who get caught by spread widening at 00h00 , others from people trying to get some money after abusing bonus scheme .

I trade with them for more than one year and it had been a smooth expereince
trading conditions are very good with "ultra low ac" , spread on XAU is the best with 23p commission included /
I made numerous deposits and withdraws and never had any problem , its fast and secure .
1 trader has found this review helpful
Abj, Nigeria,
Jan 12, 2024,
Registered user


Service use: Live Length of use: 0-3 Months
Greetings everyone,

I am a professional trader with over 10yrs trading experience. XM wrongfully or fraudulently rejected and removed $250 of my money which I requested as withdrawal from my trading account (81857799), without returning the money back into my trading account.

I deposited $175 into my trading account, and I got a deposit bonus of $87.5 (%50 deposit bonus), which brought my account equity to be $263. I then traded the US CPI news release, which made me a profit of $237.44, which brought my balance to be $412.44, and my equity to be $500+(that's including the bonus of $87+).

I then placed a withdrawal of $250, thereby leaving a balance of $162.44, and my equity being $249+.

The issue here is that my withdrawal of $250 was cancelled and rejected by XM, being confused as bonus, and it wasn't returned into my account. It is not a bonus, but profit that I made from trading us CPI news release. no body can even withdraw their bonus in the first place, you can only trade with it. secondly, i will have to loose all my balance first, before i will be able loose their bonus in trading only.

I sent an email and also chatted Xm.com to look into my account, and correct that animality, and have $250 credited back into my account as that is my money from my balance, and not the bonus granted to me by them. they still refused to return my money, instead they kept saying that they will get back to me, as they are looking into the matter.

what rubbish is looking into a simple money that i requested from my hard work and sweat, its my money.

people should be very careful when dealing with this broker, they are scammers and theirs

My account number is: 81857799. for anybody that wish to verify my claims.
4 traders have found this review helpful

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. All forex trading accounts have a minimum deposit of $5.

How do I deposit money in to my XM broker?

XM's broker deposit procedure is fairly straightforward. Once you create a real, verified XM account, 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.

Please note that bonus is not available for clients registered with EU/AU/Mena regulated entities.

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) #000261/397;
  • 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.