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XM.COM — Forex Broker

FeaturedDoesn't accept US tradersUS traders
  • Interest rate on funds
  • Bonus offers
  • Free education
  • Personal manager
  • Trading by telephone
  • Segregated accounts
  • Affiliate program
  • Islamic accounts available
  • Requires sending documents via postal mail

  See XM.COM reviews

5.2/10 (85 qualified reviews)
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Company Trading Point of Financial Instruments Ltd.
Founded in 2009
Online since 2012
Offices in Australia
Cyprus
Greece
Hungary
Payment options Show payment optionsHide
Demo platforms
  • MetaTrader 4
Account currencies Show account currenciesHide
Currency pairs Show currency pairsHide
Regulated by Show regulationHide
Website available in Show website languagesHide
Support available in Show support languagesHide
Support methods Callback
Email
Live chat
Phone
Trading server time zone GMT+2
Conditions for VIP traders Coming soon.

Account Types

Minimum account size $5
Minimum position size 0.01 lot
Spread type Variable
Typical spread on EUR/USD, pips 1.8
Minimum spread on EUR/USD, pips 1
Scalping Allowed
Expert advisors Allowed
Trading instruments
Forex 1:888
Gold & silver 1:888
CFD 1:100
Oil 1:100
Trading platforms MetaTrader 4
Digits after the dot in quotes 5
Margin call level 50%
Stop-out level 20%
Minimum distance to stop/limit orders, pips 4
Number of currency pairs (of which exotic) 59 (20)
  • Hedging
  • Overnight interest rates (swaps)
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading
History ShowMinimize

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Reviews 

246 reviews of XM.COM are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.

  Leonardo Sta. Romana Jr. from Philippines. Trading account #8XXX1
Tuesday, April 7, 2015

Mr. Chris Roubis they did that to me also.....did they returned to you your money after they closed your accounts?

The profits i made recently, I used to open accounts until such time i had 31 accounts. The Account Manager called sometime in between asking if i will deposit funds to the newly opened accounts, I said no that i was growing the fund from the profits, the conversation turned awkward and i sense he needs to tell me that i need to deposit funds....then the compliance department emailed me to limit my trades/orders to 200...which i followed. Then my account manager called me demanding I sent him an email asking him to close some of my accounts without plausible explanation. since i was following the compliance department's limit of less than 200 trades i ignored it, he did not say how many accounts i should close and again any plausible reason for it.

Last April 3 they closed all my accounts, while i had around 81 orders ( way below their 200 limit) I emailed them what was happening, and why did i see some notation that i was an "abuser".

Then April 6, 2015 i received the following:

"Dear Sir,

I regret to inform you that because of the high frequency of transactions/orders you requested/performed, which have caused serious negative impact on performance of our servers, in order to protect the quality of execution and performance of our severs we have been forced to suspend your account.

Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have decided, with immediate effect to close all of your trading Accounts with Trading Point.........

In view of the above, please note that you will be strictly prohibited from opening any new trading account(s) and trade with our company. Nonetheless, in cases where you may successfully open an account and trade with our company due to any technical and/or human error, we reserve every right to immediately close your account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges, back to the same source of deposit.

Please note that, in accordance with the terms and conditions, our decisions are final and binding on all participants and that, other than the notification set forth herein, no further correspondence will be entered into.

Dea"

I replied to them copy furnished the cysec, even knowing that they will have no further correspondence, in the following manner:

"Thank you for the feedback, however what about the balance for Account 13072655 it has $12.44?

So the problem is that your server cannot handle numerous accounts, YOU SHOULD STOP ADVERTISING THAT YOUR XM MT4 MULTI TERMINAL would work and can handle hundreds of accounts. THAT IS FALSE ADVERTISING.

I shall withdraw all the money left after you give feedback on the Account 13072655.

Don't worry I wont open an account with you people ever. IN RETURN FOR YOUR BAD SERVICE ( closing accounts without warning when the problem is in your end and categorizing me as ABUSER ---abuser of what?) I shall also make sure your office in the Philippines will have difficulty in securing clients.

I hope the people at CYSEC monitors this for the sake of the decent CYPRUS FOREX BROKERS."

I honestly believe i did not do anything to warrant closure of all my trades....all i did was believe in this:

http://www.xm.com/multiterminal

Seriously, if XM.COM is a top broker, they ought to have a more powerful server that can handle numerous accounts from all over the world...I believe the server capacity issue is just a ruse, what they really want is to weed out small traders like me, who is now learning to make little profits.

LESSON LEARNED----

1. DO NOT BELIEVE ANYTHING AT THE WEBSITE OF

XM.COM

2. IF YOU ARE A SMALL TIME TRADER, ALWAYS EXPECT

TO BE TREATED BADLY BY XM.COM IF

YOUR TRADES OR ACCOUNTS DOES NOT

COMMENSURATE TO THE EXPECTED PROFIT OF "XM

CASINO" ( where the house always wins)

3. NEVER OPEN AN ACCOUNT WITH MARKET MAKERS

THAT OFFERS BONUSES.

I Am now awaiting if they will return my money properly or add imaginary additional charges to lessen what they ought to return.

TO MY FELLOW FILIPINOS, DO NOT TRUST THIS BROKER,

I HOPE OTHER NATIONALITIES WILL BE VERY DISCERNING AGAINST THIS BROKER.

  Chris Roubis from Australia. Trading account #2XXXXX6
Saturday, March 7, 2015

XM.com complain to you when you make money with EA, then they will make your EA open and close trades at wrong conditions.

Dear Sir,

We thank you for choosing XM.COM as your broker.

We regret to inform you that due to the high frequency of transactions/orders requested/performed from your end your transactions have been very strenuous on our servers.

As such we kindly request that you remove the current Expert Advisor being used to perform your trades or significantly reduce the frequency of your trades.

Furthermore failure to comply with the stated measures above and/or respond to this email in the next 24 hours will result in your account being temporarily suspended, pending communication/collaboration from your end.

Please do not hesitate to contact us with any queries with regards to the message above.

Kind Regards,

Lucia Kaltenbachova

Customer Care Department

  Lewis from Kenya. Trading account #2XXXXX3
Wednesday, January 28, 2015

Awesome broker. All excecutions are right on time and at the requested Price. Very transparent and supportive stuff. would recommend this broker ANYTIME

  wafiq alsalman from jordan. Trading account #1XXX6
Friday, January 2, 2015

pro crook thugs just play any kind of game to fraud u

  Azman from Malaysia. Trading account #1XXXXXX5
Wednesday, December 31, 2014

This is my first withdrawal request from XM. but until now there is been more than 24 hours and i haven't receive my fund yet

Withdrawal on 10.08am GMT +8.00 30 December 2014

  Sharad Kumar Mukim from bangalore, India.
Monday, December 8, 2014

I have a bad experience with XM. I opened a demo account and was using it to learn and understand forex trading and received an email from XM offering a $30 no deposit bonus. I opened the real account as the offer was tempting for me. I checked the email and there was no hidden condition on the same. After opening the account I didn't get the bonus hence I sent an email and I got the response that the bonus as not available in my reason. I asked, if the offer is not available in my reason then why did you sent me the email and misguided me but there was no explanation and they are saying that I will get a 100% bonus on my first deposit. There is nothing to trust XM after this. when after sending one offer they are not honouring the same then there is no guaranty of getting any fair play with them.

  Douglas from Kenya. Trading account #1XXXXXX6
Thursday, September 25, 2014

Didn't even have the chance to trade with these guys because they kept asking me to upload a document that is not there - showing my residential address. If you have ever lived in Kenya, you will know that oly p.o. boxes are used when it comes to address. But the so called mananager knew everything about a country he has probably never even visited. Anyway it was a great thing i had not deposited ny cash yet otherwise i would have been in trouble.

I then requested them to close my account (this is what pissed me off), the kept on calling me. How hard is it to close an account when someone says close?

  Aso Karimi from germany. Trading account #1XXXXXX0
Wednesday, September 3, 2014

some days ago i opened a no deposit bonus account(30$) with xm,and after a while make 73$ profit from bonus account and requested to withdraw my money.my account was verified and everything was normal.but after my request their game started.i requested to withdraw my profit by webmoney.they reject my request and asked me to make a screenshot of my webmoney purse and send to them.i did.rejected again and asked me to provide them german phone to their account manager be able to reach me.i also did that.after a while they emailed me and blocked my account and deleted all my profits.i shocked ,i did not seen anything like that before.i asked them the reason and the answer was ,"you connected to the trading platform from a forbiden country."

because of my work (exporting flowers and fruits) i do traveling more.i was trading sometimes outside of germany.but i know all of this was just their excuses.they did same to many other traders.

be careful with this guys.

 mohd fauzi ismail from Malaysia. Trading account #1XXXXXX4
Tuesday, July 22, 2014

Positive experience with xm as of yet. only problem when withdrawing using skrill. skrill seem to be delaying the payment..any other people here using skrill to withdraw from xe? 5 days already and still no payment from skrill

  Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.) from Cyprus.
Thursday, July 17, 2014

Dear Mr. Nagy,

Indeed, between the end of the trading day on Thursday 10/7/14 and the beginning of the trading day on Friday 11/7/14 (Server Time) a technical error on our trading servers has resulted in open trades of certain instruments to be presenting unrealized profit and loss at that time as realized profit and loss.

Your overall account performance has not been affected in any way from this error. Moreover, you have already been fully compensated for inconvenience this error caused you.

If for any reason you require assistance please feel free to contact your account manager or our support desk.

Kind regards,

Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)

  Sandor Nagy from Romania. Trading account #1XXXXXX8
Friday, July 11, 2014

Last night the XM server had a technical problem and they closed all my open positions, and today they are telling me that all issues had benn addressed and resolved, which is really not true! I used the hedging method and all my positions where closed, mostly in minus and instead they reopened my position (all the position, same positions that I had at same price that was this morning), so now my ballance is in minus and they closed my positions without my will and by resolving the issue they opened new positions again without my will or notice, this is really unacceptable.

I was waiting all day on the backoffice feedback and nothing yet, I think that they ar not serious about my money and right now I feel that I lost all may monye + earning that I traded, in I lost the trust as well.

Yeah software problems do ocure but it is not may fault!

  MUHAMMAD NAVEED from PAKISTAN. Trading account #1XXXXXX7
Thursday, April 3, 2014

Amazing broker how i say how it is good broker A man knowing from his surrounding so like that xemarket have very good surrounding and Honest too i like that go go go xemarket we all with you thanksssssssssss

  Mollliiiiiiiieeeee from India. Trading account #1XXXXX4
Thursday, February 20, 2014

Hello Everyone, Please check the difference of pips you earn and the profit you get, there's some big difference every time you place an order.

 salah mahdi from iraq. Trading account #1XXXXXX7
Thursday, December 26, 2013

I would like to offer my apologies to the site especially to Mr. Musstafa who was very cooperative with me and all that I have said about the site in the past was a moment of anger for not accepting my documents but now everything is ok and my account is verified and they are very helpful with their customers and if anyone looking for a good broker i think xm.com is the best choice

  Henry from Malaysia.
Friday, December 20, 2013

Lousy broker, they will only accuse you of so called fraud if you make a profit. But when you get margin called no such issue. STAY AWAY from this broker. A waste of time.

Visit XM.COM website. 

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