5.2/10
(91 qualified reviews)
US 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
  • Company XM Global, XM Australia, XM Global (CY) Limited
  • Founded in 2009
  • Online since 2012
  • Offices in
    • Australia
    • Cyprus
    • Greece
    • Hungary
  • Payment options
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  • Demo platforms
    • MetaTrader 4
    • MetaTrader 5
  • Account currencies
    Show account currencies Hide account currencies
  • Currency pairs
    Show currency pairs Hide currency pairs
  • Regulated by
    Show regulation Hide regulation
  • Website available in
    Show website languages Hide website languages
  • Support available in
    Show support languages Hide support languages
  • Support methods
    • Callback
    • Email
    • Live chat
    • Phone
  • Trading server time zone GMT+2
  • Conditions for VIP traders Coming soon.
  • Hedging
  • Overnight interest rates (swaps)
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading
  • 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
    • Forex1:888
    • Gold & silver1:888
    • CFD1:100
    • Oil1:100
  • Trading platforms
    • MetaTrader 4
    • MetaTrader 5
  • Digits after dot 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)
  • Special notes MT5 hedging accounts available.
  • History
    Show history Hide history
  • Hedging
  • Overnight interest rates (swaps)
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading
  • 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
    • Forex1:888
    • Gold & silver1:888
    • CFD1:100
    • Oil1:100
    • Cryptocurrencies1:3
  • Trading platforms
    • MetaTrader 4
    • MetaTrader 5
  • Digits after dot 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)
  • Special notes MT5 hedging accounts available.
  • History
    Show history Hide history
  • Hedging
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading
  • 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
    • Forex1:888
    • Gold & silver1:888
    • CFD1:100
    • Oil1:100
  • Trading platforms
    • MetaTrader 4
  • Digits after dot 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)
  • History
    Show history Hide history
  • Hedging
  • Overnight interest rates (swaps)
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading
  • Minimum account size $50
  • Minimum position size 0.01 lot
  • Spread type Variable
  • Typical spread on EUR/USD, pips 0.8
  • Minimum spread on EUR/USD, pips 0.6
  • Commission (one-way) per 1 std. lot $3.50
  • Scalping Allowed
  • Expert advisors Allowed
  • Trading instruments
    • Forex1:500
    • Cryptocurrencies1:3
  • Trading platforms
    • MetaTrader 4
    • MetaTrader 5
  • Digits after dot 4
  • Number of currency pairs 56
  • Special notes MT5 hedging accounts available.
  • History
    Show history Hide history
View contract specifications

Reviews

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

, UK.

After my I posted my furious review on XEMarkets, I have heard back from my personal manager Mr Sophocles Panayi and I believe it is my obligation to provide update regarding my case to all the viewers (actually they have responded to me before my original post showed up on this site). Mr Sophocles Panayi has apologized to me on behalf of his company via a phone call on 01/03/2013 and offered me compensation for the mistake happened (my order was closed without my permission) - actually they have credited £3723.75 to my account balance, which is the value of my closed order if turned back to open level. Also he has assured me they have looked into this matter seriously and would make sure similar things wouldn't happen again.

Honestly speaking, I am still angry on how this issue got started while it could be avoided in the first place. However to be fair, the way Mr Sophocles Panayi and XEMarkets deal with this matter is sincere and generally decent. I am happy because I got my compensation, of course, but as a long-term trader who expect constant good service and profit I still reserve my right to keep watching how XEMarkets behave in the future - after, it's only been a few days since I started with them. For now, I have decided to continue with XEMarkets and I will keep everyone updated, especially when I make the first withdraw attempt, which is the real test for a decent broker.

Personally I'd like to express my appreciation to Mr Sophocles Panayi, who showed patience and proficiency in treating customer. However I am not sorry for putting up the previous post, which is a customer's right to provide facts and real feelings.

, Indonesia.

The first time i was happy to use this broker, but then day by day it irritates me, especially for shuting/closing the "multiple close by" feature in hedging to close my positions. I use EA, and this EA is not 24 hour online, i just make it ON when i trade so, it means it only helps me to open positions. I open alot of positions, and got warning that my EA is not suitable to this broker or cause error in the server, and they asked me to reduce the position and reduce the frequency of trading (????). Then i reduce my open positions only below 200, but sometimes over 200 but then i reduced. The rules says that, it only allow2 200 open positions max, so then i reduce and follow the rule. But then, today, i only open 115 posisition using my EA (on and off) this broker shut/delete/eliminate/take away "multiple close by" feature that i used to use here in this broker. My trading is scalping and can make hundreds of trades in a day using EA that is manually operated. I just use a couple of dolars to trade, and it is small amount of money.

I was disappointed, i have contacted the officials, but so disappointing at the end.......

What a "DISAPOINTING" broker, if you are scalper, don't hope you can put so many orders here, so try to use other broker as the alternatif.

I was happy at the beginning, but then disapointed.

Use only for alternative trading, find other broker that "NOT LIMITING" your trading style.

Regards,

Antoni

, UK.

If you already have been or are considering trading with this company, run immediately!

This may sound harsh, but I would take this kind advice if I were you, just not to end up losing all your money, which this company will try every way to achieve, before you even know it!

I am not employed by any one or just being emotional to say this - actually, I am trading with this company right now, and I have been trading more than 5 years, with real trading experiences with almost every major broker in the market - Fxpro, Exness, Hotforex, Alpari, GoMarkets, and now XEMarkets (former trading-point).

Fairly speaking, there's no perfect broker - everyone has it's little problems or tricks - that's just the nature of financial institution. I started my trading life with Fxpro, which I had worked with for almost 2 years. I was not happy with them because they were getting poor at execution, lots of re-quotes, and they hardly had any promotions. I chose to leave Fxpro and signed up with XEMarkets, which offers quite tempting promotion - 100% bonus. Admit it, you are moved as well right?

However, the real situation is never that good as imagined - and sometimes if it sounds too good it means real dangers are ahead - this is exactly my situation now! I thought FXpro was bad by giving bad execution (on purpose I believe), but compared to XEMarkets, FXpro is like angels!! XEMarkets just froze your whole account when you are about to make profit or are losing money - you cannot trade, cannot start or modify orders (even you have open positions going on) - you just have to watch the trading opportunities slip away or the market hit your stop lose point and take away your money, while there's nothing you could do!!

When I complained to them, they told me they had to freeze my account as they require my credit card copies, which I did send immdietely. However up to this moment my account is still frozen and my open postions involve thousands of pounds!!! I am so angry not because they require my credit card copies, but the way the deal with customers who could make or lose money in a few minutes:

1. There are other companies require credit card copies, which I undersand - but it is always informed to the customers before they make deposit and before the broker takes your money! In my case with XEMarkets, they didn't say anything when I used my card to deposit and just happily took my money away like immediately, however when I started trading for a while and about to make money, they just suddenly asked your credit card copies and froze your account - and then, it is up to their mood how long it could take before you can go back to trading: of course they'd say 'as soon as possible', but we all know such companies know how to count timing to put you in a disadvantaged situation - in my case, checking my credit card copies to see if they match with the details I used online would only take like 2 minutes, but they just 'have to' make this like forever (for traders it is!!)

2. When I questioned their customer service by live chat, they just pointed me to some sentence in their Terms and Conditions, which is like below:

38.17 Immediate suspension or permanent withdrawal without notice: Without prejudice to any other provisions of this Agreement, we shall be entitled, unilaterally and with immediate effect, to suspend or withdraw permanently your ability to access and/or use our Online Trading Facility, or any part thereof, without prior notice, where we consider it necessary or advisable to do so, for example due to: (a) your non-compliance with any Applicable Laws, Rules and/or Regulations (b)breach of any provisions of this Agreement; (c) on the occurrence of an Event of Default; (d) network problems; (e) failure of power supply; (f) maintenance; or (g) to protect

you when there has been a breach of security. In addition, the use and/or

access of our Online Trading Facility, or any part thereof, may be terminated automatically, upon the termination (for whatever reason) of (a) any licence granted to us which relates to the operation of our Online Trading acility; or (b) this Agreement. The use and/or access of our Online Trading Facility may be terminated immediately, in whole or in part, if any

Underlying Instruments relating to any Supported Financial Instrument(s) is/are withdrawn by any Market and/or if we are required to withdraw our Online Trading Facility, in whole or in part, to comply with Applicable Laws,

Rules and/or Regulations.

... Alright, my bad, hadn't read through this carefully, just like everyone else. However, do you realize how scary this is?? Like I said, every broker has little tricks, but it depends on how they use them. I believe such clauses might exsit in other brokers' terms and conditions as well, however, it is those bad brokers who really try their best to use these to take advantage of the customers. In their clause above, it basically gives XEMarekst unlimited and unrestricted rights to stop you from trading, modifying orders and withdrawing funds - all they have to do is to come up with some silly and random excuses: oh, I am sorry, we thought the storm in your neighbour's city might cause potential bulgary in your house, so we had to freeze your account to protect your funds security; we heard about your bank's stock plunged today and it might g bankcrupt, so we cannot allow you to withdraw money as it could be dangerous for you... of course I don't mean they are telling these lame excuses to customers all they time, but they point is - they can if they want, and there's nothing you can do except to suck it and get screwed, because 'it is in their Terms and Conditions'!

I have read quite many of the reviews about XEMarkets, including the reponses towards the complaints given by their official representatives, who often said 'we are a regulated and licensed broker and it is unfair to accuse us as scammer' - however I'd like to say: the real bad scammers are not those unskilled take-and-runs, because everyone would just know it after they do it once or twice and the victims' testimonies would just keep everyone away easily, but those who pretend to be decent, honest and 'regulated', but actually just try everyone to take advatange of your ignorance or innocence to rob you smartly and leave you even without a chance to argue - in my case with XEMarkets, I have the reasons to believe they tend to treat the customers in the latter manner.

I am still waiting for them to release my account, which I believe should happen so because my card has no problem and I am totally honest in my matter - however, as soon as it's done, I will start to take away my money and move to the next broker - yes I know there's no perfect broker, but at least I don't want to trade with some who might say to you when you've made a lot of profits and want to withdraw some money: Oh I am sorry, but we didn't like the color of the debit card you sent us 4 months ago and we thought it's not decent, so we cannot allow you to withdraw any of your money.

, Limassol, Cyprus.

Dear Tommy,

We would like to apologize for the delay in processing your withdrawal request and for the inconvenience it may have caused.

We have processed your withdrawal request. Kindly check your liberty reserve account.

The reason behind the delay was cause due to an internal system failure. The issue is under investigation.

Please do not hesitate to contact your Personal Account Manager who can assist you with any information you may need.

Thank you for your understanding.

Carol P. - Official Representative XEMarkets - Trading Point of Financial Instruments Ltd.

, Indonesia.

Dear Madam Carol P. from Cyprus...

I made two withdrawal of $66.22 on the 8th Feb 2013, but I just received one of them. I've contacted live support for several times. But their responses were they will contact the back office.I also have emailed the back office of xemarkets. But they haven't replied to my email yet at all.

I still believe Xemarkets is a good broker. So, I sincerely asking for your help to return that $66.22 to my liberty reserve account.

I am a new trader... $66.22 might be a little for some people... But for me it is a lot... And for that I am willing to provide any proof that I haven't received the money yet....

Thanks a lot for your help....

Sincerely,

Tommy

, Cyprus.

Dear Sam,

You have left a claim on Earn Forex below without sharing your full MT4 ID.

We will be waiting for your follow up with your MT4 ID to take action and transparently present the full data of your claims.

Thank you

Carol P. - Official Representative XEMarkets - Trading Point of Financial Instruments Ltd.

, Indonesia.

Hi, i am a new forex trader. I am a nineteen years old man and i don't have much money now (less than 100 usd).

I chose this broker (XEmarket) as the starting out of my hazard journey in the wilderness of forex trading because it has a small amount of minimum deposit (just 5 $) and it is a dma broker (so it's more safe).

And i hope i get hundreds of thousands dollars profit from forex trading with this broker. If i succeed, i'll be back and tell you all. Give me time about 3 months to get it.

Thanks for anyone's attention.

, Norway.

I have and account with xemarkets for 4 months now, and this is the second time I am facing huge issues with price and order executions, first time they accepted that it was their fault and returned my losses. The other night my stop loss order was triggered and my position was liquidated when price did not reach that level.

I even sent emails to their managers and spoke to them on the live chat but they were not helpful or cared about my situation.

Because of this I would say that their customer service and trading environment is pathetic, stay away from them.

, Limassol, Cyprus.

Dear Mohamed Gad,

It is not fair to be calling a regulated and licensed broker a cheater. However I can understand your frustration. The KYC (know you client) is a mandatory process that we have to follow in order to validate our clients’ accounts. You might be surprised to hear that yes a lot of clients do provide a residential address that doesn't match with their proof of residency documents. Therefore, we are obliged under the law to obtain the Proof of Identification and Proof of Residency to validate all the presented information.

In regards to your case, the address you provided during registration doesn't match the address on your identity card. There is a mismatch in the street number. This is why we request from you a Proof of Residency document to verify your address. Your identity card which has your address printed on is and was accepted by us as a Proof of Identification. However it is not accepted as a proof of Residency. This is why, as you have been informed by email that the Proof of Residency should be a recent utility bill (e.g. electricity, gas, water, phone, oil, Internet and/or cable TV connections) dated within the last 3 months confirming your registered address.

Therefore we would kindly like to ask you to provide us with such a document which is still needed as part of the KYC process.

The stop-out which occurred during your trade took place on the 8th of October 2012, at 00:05 (Monday) due to the fact that the increase in spreads always occurs at the closing and opening of the market and not because of any intervention from XEMarkets as you implied. It wasn't only the spreads that triggered the stop -out however your positions were not perfectly hedged. The fact of insufficient margin to sustain your position was the main reason for the stop-out. Your personal account manager contacted you in regards to your complaint so your accusation of not receiving any reply back is incorrect.

In order to be able to deposit and trade we advise you to send your Proof of Residency so that we can validate your account.

Thank you

Carol P. – Official Representative XEMarkets – Trading Point of Financial Instruments Ltd.

, Egypt.

Dear Carol P,

I don’t know how a licensed and regulated broker keep cheating and misleading all times. You said (the proof of residency document provided didn't match the address used during registration!!) is there any trader reading this words will believe that someone will give his address then send a proof of residency document doesn’t match the address he used during registration!!

Can you tell me about these two different addresses if you honest??

And again you said you didn't refuse processing my deposits and in the same time said we did not process it because that the proof of residency document you provided didn't match the address used during registration?? But After you increased the spreads and all my positions are closed and all my balance 1217.08 GBP has gone, I cancelled the deposit because it’s useless , then I complained about this issue direct to the company without any reply from your licensed and regulated company?!

Finally,If you are in the right way why you are afraid from escalating the issue to your regulators??

Regards

, sri lanka.

I am really glad to work with XEMarkets.. I apologize for any inconveniences caused due to my earlier post here. I really should have contacted you about this matter instead of posting in a forum. Adam my customer support manager at XEMarkets is a very friendly and cool person. He explained me and he really did ask me in the past if I have questions or problems just contact him. I apologize to him too. Not just me, if anybody has issues to be resolved just contact them beforehand posting in forums... And again I am saying its a real pleasure working with XEMarkets

, sri lanka.

OK here's the deal.. I love working with XE markets.. There's nothing to complain anything except for where system freezes very often. This not unacceptable at all.. some time we end up losing money before we know what was going on.. Please update or upgrade servers with higher bandwidth so you don't make people runaway from trading with xe markets. I think its probably due to high amount of people accessing servers at the same time. Please fix this issue ASAP

, Limassol, Cyprus.

Dear Mohamed Gad,

It is unfair to accuse a licensed and regulated broker of unprofessionalism, when clearly you are missing the point of all the rules and regulations of the forex industry.

We would like to remind you again that it is true that the documents are not required if you deposit less than $2500; however the case applies when there are no conflicts or alerts that our company has to look into when deposits are being made. This is why in your case, as we have transparently posted on the forum, there was a Geo Location Conflict reported by our payment provider. In such a situation we can’t proceed with the payment unless we have the necessary supportive documents. We would like to highlight again that the proof of residency document you provided didn't match the address used during registration. Therefore and according to our regulative authorities, we are bound to have the correct documents before we proceed with any payments.

We didn't refuse your deposits (you have requested the cancellation yourself); on the other hand, you were the one who until now refused to cooperate with us after receiving reminders from our back office to submit the correct document in order for your deposits to be processed automatically. Until your account is validated, then you can deposit and withdraw.

Your failure to cooperate is the reason behind the issues you are facing. We strongly advise you to submit your correct documents in order to resume trade and/or seek assistance from your account manager, who will gladly clarify all the doubts you may have with regards to the KYC procedures and regulation obligations , which we follow at all times.

Thank you

Carol P. – Official Representative XEMarkets – Trading Point of Financial Instruments Ltd.

, Limassol, Cyprus.

Dear Wasay,

Creating a blog and hiding the truth is NOT ethical towards other traders and is totally unaccepted.

The use of the word “scam” is unrealistic especially when used with altered supportive documents to deviate from the truth.

You opened an account (#6XXX5) with XEMarkets on the 26th of December 2012. You funded your account using two deposit methods Credit Card and Neteller, and our payment system recognized the transaction as FLAGGED because the most recent deposits were made with one or more credit/debit card that have been reported as (lost or stolen/ involved in 3rd Party- you have used 6 different cards, 5 of those have been issued with different names- we will take appropriate actions notifying card issuers).

Based on our terms and conditions, that you have consented for when opening an account, we have decided to close all your trading accounts, to nullify all trades carried out in your account, and to cancel all profits or losses garnered in your trading Account with Trading Point. This is the reason behind receiving the email from our Back Office team on the 8th of January 2013. As such your account was blocked and you were refunded your initial deposit of $350 (even if the loss of that account was over $200).

On the 14th of January 2013, you opened a second account (#6XXX6) under a different name and deposited using the same deposit method you used for the first account #66835. Since our payment provider has already blocked you from their systems due to the same reasons aforementioned we have blocked your second account in accordance with our terms and conditions and have cancelled your profit of $17 dollars (a provision of the terms and conditions you have agreed on).

The so called proofs you have posted on your blog are cropped to mislead the readers. The statement of your account #6XXX5,(what you have omitted show that you have opened positions , which floating P & L was – 398.51) had an equity of 270.53 (deposits and open trades). You only showed the balance of 544.04 (which shows your deposits and closed trades).

A/C Summary:

Previous Ledger Balance: 426.04 Floating P/L: -398.51

Closed Trade P/L: 118.00 Total Credit Facility: 125.00

Deposit/Withdrawal: 0.00 Equity: 270.53

Balance: 544.04 Margin Requirement: 10.17

Available Margin: 260.36

In regards to the second withdrawal request proof, kindly note that it was processed at the same time the Fraud department refunded your deposits. You have received all your initial deposits back for both of your accounts and XEMarkets doesn't owe you any money (the actual loss on account 6XXX5 was over $200-nullified/reimbursed and profit of 6XXX6 ($17) nullified –therefore you have gained $183).

XEMarkets is operating in accordance to the law and acts in compliance with the clearly defined standards of financial regulations.

Thank you

Carol P. – Official Representative XEMarkets – Trading Point of Financial Instruments Ltd.

, Egypt.

Dear Carol P.

I agree that I received cooperation from your team in regards to my previous requests (changing your email address, Islamic account request) which were swiftly processed.

But The problem that you make a big mistake and unprofessional action when you refuse processing my deposit to maintain my positions which cause losses my balance 1217.08 GBP because all my deposits were under USD$ 2,500 so it does NOT Need provided supporting documents to proceed. (As you write clearly on your website).

And if this issue will NOT Solve I have no choice otherwise escalating the issue to the regulators.

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