Xm trading scam

XM group provides an easy way for its clients to deposit and withdraw trading funds from their accounts.

No deposit forex bonuses

XM offers different avenues for money transfer, including credit cards, bank wire transfer, and e-wallets. E-wallets can be in the form of neteller, china unionpay, western union, IDEAL, SOFORT, moneybookers, webmoney, moneygram, bitcoin, and skrill. This aspect of trading service offerings is the lackluster side of XM group that needs to be upgraded if they want to find themselves at the upper echelon of the forex broker elite group. Unfortunately, XM group offers conventional and ordinary metatrader platforms. XM offers both the MT4 and MT5 web and app platforms for its clients. As most traders know, the metatrader platforms feature the usual set of technical analysis tools, including some stop and trailing orders. Metatrader 4 and metatrader 5 are both available in ios and android devices.

Broker’s profile

Testing the mettle and serviceability through a thorough review of its forex brokerage service is the XM group.

XM group took form in 2009 in cyprus with its former name, trading point of financial instruments ltd. The XM brand is a group of online regulated forex. Over the years, this brokerage group has amassed a huge number of traders and reached to more than 196 countries globally. XM group is most known for its metatrader platform suite offering, while its trademark service is its customer care, which provides 30 language options to support its clients.

XM group continues to evolve to provide better trading services to traders worldwide. Its ten years of existence in the trading industry has earned its reputation as a good forex broker, albeit it has been performing under the shadows of broker giants dominating the markets today.

Broker’s security and regulatory status

Establishing its integrity as an honest brokerage institution, XM group is multiple licensed brokers. It has earned several distinctions along with its license to operate forex brokerage from the australian securities & investment commission (ASIC) and the financial conduct authority (FCA).

Besides the above-mentioned regulatory merits, XM group has also subscribed to the regulations set by the markets in financial instruments directive (mifid) lording over the european union nations. XM group intently worked this out to boost its advocacy to build a secure trading institution among its clients. Hence, XM group is compelled to be liable over its jurisdictions in hungary, france, and italy.

Over the past decade, XM group has established itself as a safe and reliable forex broker rendering forex trading services in different parts of the world. In 2017, XM global limited was founded in belize and was regulated by the IFSC.

Trade offerings, accounts, and condition

XM’s several broker brands will walk interested investors to multiple trade baskets in the form of cfds with 1200 stocks, 8 commodities, 4 metals, 5 energies, 30 indices, and 57 currency pairs.

Currently, XM offers varying trading account types, including standard accounts, micro accounts, cent accounts, swap-free accounts, and islamic accounts. The standard, micro, and zero accounts all have this distinctive feature – these have custom-oriented conditions. Each of these accounts can be used for an islamic account.

When we deal with the transaction costs using XM-sanctioned brokerage sites, the prices vary depending on the account type. The micro and standard accounts are both commission-free accounts, while the zero account is commission-based. XM also offers the XM ultra-low account, but it is not offered across all XM brands.

Using the XM zero account, traders are faced with average spreads on the EUR/USD pair with 0.1 pips. If you take a look at the commission-free standard account and micro account, its average spreads for the same currency pair is at 1.7 pips. However, if we put the commission-based account into the picture, the average spreads will have traders trading the same forex pair at 0.8 pips.

In terms of the leverage level, XM group observes varying levels depending on the account type. XM clients choose their leverage level between 1:1 and 888:1. However, recent rulings from regulatory bodies in europe prohibited brokers from offering high leverages to avoid stupendous losses of clients. They have set a maximum leverage of 30:1. But since XM group has clients outside the european bloc, its australian clients are liberated to use high leverage levels that go up to 300:1.

Interestingly, XM brands are all acting as principal dealers in all their trade executions and do not offer re-quoting in all their trading account types. In essence, XM brands can afford to offer low spreads during particular market conditions.

XM has done a good job in its transparency in transaction fees. All the costs traders are charged during trading are available in the spreads and does not practice hidden fee charges. What XM group charges its clients on trade transactions is the overnight fee.

One clear advantage XM group has against its competitors is its no inactivity fees and zero deposit fees. Traders are not charged per month if their trading accounts are not actively used. What’s more interesting is when traders open an account with any XM brand, they are not obliged to render a deposit fee.

Educational materials and trading resource

If traders are to consider the research aspect of brokerage service provided by XM, they might find nothing surprising. XM has the same features that traders could also enjoy at some other research instruments used by other typical and mediocre forex brokerage sites.

XM has this feature called tradepedia, which provides insightful resources for technical analysis. This usually details indicator tools, charts, and graphs. Tradepedia caters to the beginning traders and even to the most seasoned traders in search of trading strategies and significant trade signal visuals.

XM’s daily feeds of forex and economic news are quite interesting as they are presented in a creative format wherein users are just like watching a TV interview.

Some other noteworthy features of XM’s research facility include webinars, economic calendars, how-to videos, forex seminar s streaming, technical indicator tools, etc.

In assessment, the educational and research facility offering of XM is sufficient though most of its features can also be found in other brokerage services. XM has to offer something new to the table to stay relevant in the forex research offerings out in the markets.

Trading platforms and special perks

This aspect of trading service offerings is the lackluster side of XM group that needs to be upgraded if they want to find themselves at the upper echelon of the forex broker elite group. Unfortunately, XM group offers conventional and ordinary metatrader platforms. XM offers both the MT4 and MT5 web and app platforms for its clients. As most traders know, the metatrader platforms feature the usual set of technical analysis tools, including some stop and trailing orders. Metatrader 4 and metatrader 5 are both available in ios and android devices.

Since the XM group sports nothing-fancy-but-simple-yet-reliable trading platforms, investors may be enticed by the company’s special perks and bonuses offered. Let us leaf through some of XM’s promotional bonuses that might interest traders around.

First on our radar is the NO DEPOSIT BONUS offer. This is a great catch for traders, especially those who are afraid of bumping into fraudulent forex brokers. It is also a good impression for traders that they have nothing to risk as they sign in for an XM trading account. However, that’s the only time first-time XM trader account users can enjoy that bonus.

Another perk awaiting newly-signed up traders is the WELCOME BONUS. This particular reward is only earned by traders who signed up for an account and opted to make an initial deposit. They are rewarded with 100% as a welcome bonus to them.

For the old users of XM trading accounts, they get to receive LOYALTY BONUSES. Traders need to apply for this special perk and earn a certain number of points that traders can get upon executing trades with XM. The more they trade, the higher the points they accumulate, which can be converted to the LOYALTY BONUS after application.

Lastly, XM offers special seasonal bonuses. These benefits are coming every once in a while during trading with XM brands. This way, traders are treated by their eagerness and enthusiasm in trading forex. But these can all be discovered when traders stay being XM clients.

Deposit and withdrawal practices

If you think you’ve seen pretty much everything about what XM group has to show off, wait till you learn about its conduct of withdrawal and deposit schemes.

XM group provides an easy way for its clients to deposit and withdraw trading funds from their accounts. XM offers different avenues for money transfer, including credit cards, bank wire transfer, and e-wallets. E-wallets can be in the form of neteller, china unionpay, western union, IDEAL, SOFORT, moneybookers, webmoney, moneygram, bitcoin, and skrill.

XM group is committed to providing a convenient funding transaction to its clients; that’s why it allowed local bank transfer that enables its clients to deposit their trading accounts through commercial banks with no conversion charges. Note, however, that XM group imposes a minimum five dollar deposit amount for the payment mentioned above options in all countries across the globe.

On top of it, clients are charged with no fees for both withdrawal and deposit transactions. XM group also covers the transfer fees of its clients. Convenience at its finest, it is for XM group brokerage funding service.

Leave or cleave?

After a thorough rundown of XM group’s brokerage services, let us weigh in all aspects of the services to find out which type of traders can fit into the brand.

XM group seems to be a fine and classic kind of broker. Safety and convenience are both guaranteed, although nothing special or new is on its service platter. XM is a steady and ever ready forex service provider, a good characteristic of a broker for traders who look for a dependable firm.

There may not be anything special by its trading platforms in metatrader, but the seamless trading service is what it has to offer.

XM group is not the kind of broker traders would shun as its security and transparency are the vanguards of its brokerage service.

XM forex broker review – scam or not?

Should you avoid the forex broker XM or is it actually a recommendable company? – on this page, we share our own experiences in the form of a test report on this forex and CFD broker. Learn about the terms and offers for traders in the following texts. Also, we will show you a step by step tutorial which shows you how to trade successfully. Is it worth it to invest his money or not? – inform now transparently.

The official website of the forex broker XM

What is XM.COM? – the forex broker presented

XM group (XM) is a group of regulated online brokers. Trading point of financial instruments ltd was established in 2009 and it is regulated by the cyprus securities and exchange commission (cysec 120/10), trading point of financial instruments pty ltd was established in 2015 and it is regulated by the australian securities and investments commission (ASIC 443670) and XM global limited was established in 2017 with headquarters in belize and it is regulated by the international financial services commission (IFSC/60/354/TS/19). The company was founded in 2009 and has since enriched more than 1.500.000 customers in over 196 countries. Even the broker is one of the biggest in his industry.

The goal is to give the customer a very fair and reliable offer for investing in international financial markets. Customer support is also a top priority for this company and is available in more than 30 languages. We will check this in the following experience report exactly. In addition, the broker is very active in distributing advertising and sponsorship. Especially for customers, the broker is even to be found at seminars or financial fairs worldwide.

XM offers trading in currencies (forex) and cfds on commodities, precious metals, energies, stocks, and indices. Currently, over 1000 different markets are offered to traders. The broker works as an intermediary for tradable contracts for difference. In summary, the offer is very large at first glance and also the company data prove to be trustworthy.

Facts about the FX broker XM.Com:

Founded in 2009

More than 1.500.000 international customers

Worldwide offices (cyprus, australia, belize)

Huge variety of assets

Support and service in international languages

More than 15+ award-winning forex boker

(risk warning: 73.57% of retail investor accounts lose money when trading cfds)

Regulation of XM and safety of customer funds

An official regulation or license radiates trustworthiness and security. Every trader should find out about opening an account with a broker. The regulation is intended to push frivolous and fraudsters out of the market. Licenses require certain criteria and regulations that guarantee a clean and secure trade.

Another good impression on me is that XM has several licenses. In more than 4 countries, the broker is regulated by an official financial regulator. In addition, the company is registered in many european countries with appropriate supervision and has an EEA freedom to provide services.

In addition, customer funds are managed in different investment-grade banks. XM is only doing business with regulated payment providers. Also, the broker is a member of the investor compensation fund. XM does not trade versus its clients, which is forbidden through the regulation, and for more safety, there is negative balance protection.

XM is a highly regulated broker

XM is a very safe forex broker:

Regulation of official finance regulator in the cyprus (cysec), australia (ASIC), and belize (IFSC)

Member of the investor compensation fund (only for trading point of financial instruments ltd.)

XM does not trade versus clients

The client’s funds are kept in segregated client bank accounts

Negative balance protection

ESMA regulation

In 2018, the leverage for traded derivatives (forex and cfds) was massively restricted to 1:30 by the european financial services authority (ESMA). Brokers, which have a license in europe, are only allowed to offer this small lever to customers. This is a significant problem for some traders because certain strategies (such as hedging) can no longer be performed.

However, the leverage of 1:30 applies to clients registered under the EU regulated entity of the group. Leverage depends on the financial instrument traded.

Review of the conditions for traders

XM is very broad with over 1000+ tradable instruments. There should be no lack of choice here for a trader. As mentioned above, a variety of stocks, commodities, currencies (forex), precious metals, and energies are offered for trading. Especially stock trading is a huge advantage with XM, assets from more than 14 different countries are available.

In terms of trading platforms, XM relies on the world-famous platform metatrader 4 and 5. This is, in our opinion, one of the best software for private traders. We will give you a more detailed explanation in the section trading platforms.

Assets and markets of XM.Com

The terms of trading in leveraged financial products are, in my experience and tests, very good and competitive. XM relies on several different account types, which give a trader excellent conditions, depending on the capital strength. Spreads can start at 0.0 pips on the most traded markets. In addition, the execution is very reliable and there are 100% no requotes.

As a trader, you can start trading for as little as $ 5 minimum deposit or use a free demo account. In addition, there are different account types for every type of capital (more on that later). All in all, the conditions make a very positive impression on us and XM can be one of the cheap and reliable brokers.

Conditions for traders:

Spreads starting at 0.0 pips

Different account types

Maximum leverage is 1:30 for clients who registered under EU regulated entity

Maximum leverage is 1:500 for clients who registered under belize or ASIC regulated entity

Minimum deposit of 5$

Free and unlimited demo account

More than 1,000 different markets

regulation:	support:	assets:	special:
cysec, ASIC, IFSC	24/5 in different languages, webinars and training tutorials	1000+ (forex trading, stocks cfds, commodities cfds, equity indices cfds, precious metals cfds, and energies cfds)	different account types

Test of the XM trading platform

As mentioned before in this review, the well-known trading platform metatrader in version 4 and 5 are offered. In our opinion, there is no better trading platform for private traders worldwide, because it offers many universal options. The trading platform is characterized by its flexibility and user-friendliness.

With the metatrader, you can adapt your trading to any trading style. The platform can be customized and even programmed. Whether long-term or short-term hands, the metatrader always delivers the right settings. Robots or automatic programs are also allowed with this program.

Trading platform available for any device

The advantages of the XM metatrader:

1 login and access to the web trader, app, and desktop version

Automatic programs may be used

No requotes

Rental of a VPS server possible

Complete video tutorial is available from XM

Charting and analysis for forex trading

Of course, charting and analytics are very important to successful traders. It is not uncommon that traders even need to access external software. This will not be necessary with XM, because the metatrader offers all-important charting and analysis options. Choose between more than 4 different chart types in the software.

Any timeframe (time unit) of the chart can be set for the analysis. The software also offers the right tools. Free indicators can be added at any time. There are also a number of drawing tools available. If that is not enough, you can program the indicators yourself or insert them externally.

Individually customizable tools

Free indicators

Big range of technical drawing tools

Mobile trading for any device

Another benefit of the software is that it is available for every device. Use the metatrader also on apple (ios) and android devices. Mobile trading today is a standard requirement for the trading software, as it is important to be able to respond to news from within. Positions can be opened, managed, or closed by your smartphone. Furthermore, you only need access to each device. With your account data, you can log in everywhere.

(risk warning: 73.57% of retail investor accounts lose money when trading cfds)

Trading tutorial: learn how to trade with XM step by step

In the following section, we would like to give you a guide to trading with forex broker XM. In the picture below you can see the order mask of the metatrader. There are many different settings options for trade execution. The following points will tell you how the typical trading process works.

First, analyze one out of 1000 different markets/assets at XM and decide to invest or open a trading position. For this purpose, the fundamental analysis or technical analysis can be used. Metatrader offers enough tools and settings.

As you can see in the order mask, you can always bet on rising or falling prices. This is easily possible with forex trading and happens during CFD trading via short sale.

Now you have to choose the position size (volume) and the stop loss or take profit. All sizes are dependent on your planned risk. Choose specific price tags when to open and close a trade. The position sizes are given in lot (1 lot = 100,000 units of the base currency). Beginners should definitely use the XM forex calculator, which is available on the website.

The stop-loss stops you in a loss at a certain price (risk) and the take profit automatically closes your position at a certain price in profit. Learn to divide the profit-risk ratio.

Pending orders are another way to open positions. Place orders at specific prices in the market. If the market touches this price, your position will be opened (whether sell or buy).

Open your free account with XM

Next, we would like to look at the account opening in this review. On the website, it is clear that you can open a demo or live account directly. In a few minutes, the depot opening works according to the support. Simply use a valid email and other personal information. The email address must be confirmed after opening the account.

Free and unlimited demo account

A demo account is a virtual balance account. You can use it to try out all the features of broker XM and trade without risk. It simulates the real money trade with “play money”. It is also a great way for beginners and advanced traders to develop their own strategies or test of new markets.

XM offers a free demo account of over $ 100,000 in virtual credit. If desired, a currency other than the USD may be taken. This account can be used indefinitely and it is the perfect way to get practice with the broker.

Open your account in less than 60 seconds

How to open your real account

Once you have chosen XM, you can open the real money account. This requires more data. The broker also asks a few questions about your knowledge in trading before opening an account. You also need to confirm your phone number to ensure additional security for the account. Before the capitalization, the account should and should be verified. This is very easy with the upload of a passport and proof of residence.

XM guides you through the account opening process. There is a detailed and accurate step by step guide so nothing can go wrong. If you have questions, you can contact the support. In summary, opening an account is very easy and works in a short time.

(risk warning: 73.57% of retail investor accounts lose money when trading cfds)

Choose the best account type for you

XM offers the advantage of 3 different account types. It can be decided between the “micro”, “standard” and “XM zero account”. The account types are adjusted to the capital strength of the customer. For example, in a micro account, you can trade with very small position sizes (risk of a few cents). There is a separate cent contract size.

In the “standard” and “XM zero account”, there are normal lot sizes. The difference between these two accounts lies in the fees and the possible currency of the account. For example, you can choose 7 different currencies for the standard account and only 2 for the “XM zero account”. Spreads are much lower in the “XM zero account” and start at 0.0 pip. But you have to pay a commission of $ 3.5 per $ 100,000 traded. Overall, the “XM zero account” is still much cheaper than the standard account.

Micro	standard	XM zero spread
min. Deposit:	5$	5$	100$
currency:	USD, EUR, GBP, CHF,‎ AUD, HUF, PLN	USD, EUR, GBP, CHF,‎ AUD, HUF, PLN	USD, EUR
spreads:	1.0 pips	1.0 pips	0.0 pips
commission:	no	no	3,5$ commission per 1 lot traded
islamic account	yes	yes	yes

(XM also offers the XM ULTRA LOW account which allows you to trade with either micro or standard lots, lower spreads from 0.6 pips and it has a minimum initial deposit of $50. The XM ULTRA LOW account is not applicable to all entities of the group)

Should you choose fix or variable spreads?

Some brokers offer fixed spreads. This means that the spread (the difference between buying and selling price) is always the same. He is also not dependent on the market situation. The problem here is that usually high fees or insurance premiums have to be paid. In addition, it is difficult to guarantee fixed spreads, because the stock market does not work on the principle. Fixed spreads are generally unnatural.

XM offers the direct interbank spreads for your clients. This also has the advantage that there is no conflict of interest. The spreads are reduced to the lowest and you always get directly the current market prices. It is not better. XM is very transparent here and reaps a clear plus point for us.

XM always offers the best and tightest spreads

Do your first deposit

Now it is your turn to capitalize on the trading account. From our experience, this also works pretty fast. We will give you an overview of this section about the payment methods. You can use electronic methods or a classic transfer for the deposit. Using electronic methods (credit card, e-wallets, neteller, skrill) the money is credited directly to the account. Bank transfer can take 1 to 3 days. There are no fees for the deposit.

Review of the withdrawal

Another important point of a good broker is a quick and easy payment of client funds. It is not uncommon for a broker to experience difficulty in paying large sums and delays.

This is not the case with XM. The company is always liquid and makes payments in less than a day. The fees are to look for in vain. The only fee that can be incurred if you pay less than $ 200 by bank transfer. From my experience with XM, you are with a very secure broker who treats client funds with the highest confidence.

The conditions for payments:

Credit card (VISA, VISA electron, mastercard, maestro)

Electronic wallets (neteller, skrill, and more)

Bankwire

Minimum deposit 5$

Withdrawal within 24 hours

No withdrawal fees (except bank wire under 200$)

Is there a negative balance protection?

Cruel stories about account balances thanks to the extra payroll haunting the internet. Many traders are afraid of additional funding and would like to act without them. These concerns are completely correct.

With XM.COM there is no additional payment obligation. The balance can not end up in a negative balance. The broker will automatically stop all postings before. Should the account balance become negative anyway, XM will compensate him (very unlikely).

XM support and service for traders tested

With XM you get more than one trading account because the customer service is provided by many employees of the company. Over 30 different languages are available in customer support. International employees also work for the company and help you around the clock. Use a telephone, email or chat support.

For example, you can also access professional training and webinars. The webinars are held almost daily and are accessible to every customer. There are also daily market analyzes and even signals to trade. Another plus is the personal account manager from XM. Each customer is assigned an employee who is available for questions and suggestions. It tries to find the best deal for you personally as a trader.

In summary, we can say from my experience that the analyzes offered, etc. Are very well applicable for their own trade. Beginners and advanced traders can expand and improve their knowledge for free. In addition, the service makes a good impression on me.

Facts about the service:

Personal account manager

24/5 support in different languages

Daily webinars and analysis

Service for beginners and advanced traders

Conclusion of the XM forex broker review – scam or reliable company?

XM can hold its own in comparison to other brokers and gets a very good rating from me on this page. With several licenses and regulations, the company exudes a high level of security and trustworthiness. In addition, client funds at XM are managed separately from corporate funds, which eliminates a conflict of interest.

Overall, the broker with its over 1000+ markets offers a very large offer for private traders. Take, for example, markets from distant countries. The portfolio will also be supplemented by the new markets. The metatrader trading platform is also perfect for analyzing markets and opening trades. Diversity for customers is 100% guaranteed by this broker.

Another advantage is the terms of trade and in the deposit and withdrawal. The fees are so low that XM can count to one of the cheapest brokers. The positive features of the company are rounded off by customer support. At XM, you not only get technical help but also a great way to educate yourself in the trade.

The advantages of XM:

More than 1000 different assets

A regulated and safe company

Cheap trading fees

No hidden fees

3 different account types

Metatrader software

Professional support and service

Accept international customers (europe, africa, indonesia, asia, india, china, and more)

In summary, XM is a recommended and trusted forex broker. We highly recommend this company after our test. Happy trading (5 / 5)

XM reviews and comments 2021

I've been trading on XM and there trades lag whenever I have made profits that are half the money I used to fund my account. The lag is for a minute or two. By the time the lag ends i would be in the red- with a blown account. I'm shutting down XM. XM trades against you.

They took money without my permission send via BTC to another account that is not belong to me. Choose very carefully your broker, I do not recommend to use XM.

Faruk 24 december, 2020 reply

I made a withdrawal over a week ago and i still haven't received my money in my bank account. But the deposit takes a mater of few seconds to happen. I'm very unhappy with that i can't get money back now. Called the bank and they said no money has been sent to my account from XM. Stay away from this broker. It will end in tears.

Thabanag 24 november, 2020 reply

I wish I came to this review site before I started trading with with those scammers. I was trying to withdraw R1800 today and was told i violated rules. They use people to trade for them and steal their money when we try to make withdrawals.I wanna sue them or something. Why aren't we doing anything about this we all have the same complaints.

XM for me is a genuine broker. First they offer 30$ bonus and trust me this is the best in the industry since they have a very few conditions to meet for profit withdrawls. Second, they dont charge any % for all deposits and withdrawals and moreover the withdrawal are very fast as compared to other brokers. They have a very huge options for CFD tradings. Overall, I have used XM for 5 years now and I am a very happy client. I also use fxpro and hotforex sometimes, they are also better.

Sanjog 24 november, 2020 reply

They will offer you a free $30 no deposit bonus and the account become profitable you will received an email that you violated rules without an explanation. If you asked their chat agent you ended up talking to a robot.

Jess 23 november, 2020 reply

Please read the T&S properly,

Sanjog 24 november, 2020

I got the bonus traded and made $61 profits then the moment I withdrew it I got an email that said I have viloted section b of the terms and conditions of the broker.

Philani 29 november, 2020

I opened a standard account with xm and the spreads for currency pairs are way too high. Then I opened an ultra low account still all I see is fixed spreads but when you review their services they say they offer tight spreads.

Kevin rakuba 12 november, 2020 reply

I haven't recieved my withdrawal, it's been a whole week (7 days) now. XM isn't a trustworthy broker for real. The transaction says "approved" but there is no action that has been made. They're 100% scammers.

Siphiwe 30 october, 2020 reply

Siphiwe, did you finally get your money? Your response is crucial because I want to fund.

Forex gump 15 november, 2020

I withdrew my money and xm decided to terminate my account and took all the profits I made now I have nothing on my platform. Xm is a broker you no longer have to trust.

Sarah 29 october, 2020 reply

I withdrew 2 times, I did not receive my money even today.

Sithembiso 23 october, 2020 reply

Try withdrawal using the "local bank transfer" option, it's works for san bank accounts, you won't regret it.

Pieceofmind 23 november, 2020

XM closes my trades while I'm still making profits.

Pablo 19 october, 2020 reply

I have deposited my money in xm. But in trading sl and tp don't work. They guide to use lots from 0.10 and above no low that. Bad broker ever.

Max 16 october, 2020 reply

Xm didnt't allow me to place more than 2 oders. Stop loss doesnt work, even take profit.

Western 7 october, 2020 reply

Xm closes my winning trades, bad broker, don't trust them.

Rafikie 2 october, 2020 reply

Xm automatically closes all your winning trades, but keeps your losing trades running. Run away from xm.

Manolis 30 september, 2020 reply

Have been currently a xm client for a year now. I am disappointed. With xm I have blew my account for the 10th time but with my other broker I am making profits. When I ask them what's going they say they are not incontrol of the market. I have been losing since i used xm. It looks convinient but its nonsense broker. They manupulate the market. You dont make profit with xm. Can someone please help me report this, am fed up.

Angry client 29 september, 2020 reply

Where are you trading angry client? Which other broker?

Imran 29 september, 2020

Bad broker ever. I have been waiting for my account validations for over 6 days now. But my deposits took less than 5 mins to proceed and again. Their support team takes more than 24 hours to reply your complaint. Do not use that broker!

Bless 23 august, 2020 reply

Never deposit while waiting to be validated you might be declined and you will never get your deposit.

Yamkela 23 september, 2020

XM is most fraud broker I ever seen. I deposited two times but they never add that money for trading. I contact them by mail but they denied that they got payment. My bank told me that payment transfer into their account successfully. I am very upset becouse of this fraud. Don't trust XM.

Deepak sharma 29 july, 2020 reply

Well then you need to ask your bank for the code numbers for investigation and send it to XM to open a investigation that will take only a few days.

Filipe pereira 1 august, 2020

Don't trust the XM. They will never add your money in account. I deposited two times but they denied. Transactions was successful and I sent them statement more than 5 times but they stole my money.

Deepak sharma 29 july, 2020 reply

I've been using xm for years but I haven't encountered any problem with my deposit nor withdrawal.

Lyn 7 september, 2020

Same here! I've been doing the same thing now from half a week. They have no intention of refunding my $500.

Sachin 21 october, 2020

XM is not a good broker at all. Just yesterday I tried to withdraw my profits from the $30 credit and they rejected it. Then later sends an email advising that i have violated the terms and conditions of the bonus "participation of intermediaries/related parties" in the "no deposit trading bonus scheme" is prohibited. If the registration and/or trading data of a participant in the "no deposit trading bonus scheme" corresponds with the registration and/or trading information, including but not limited to the IP address, of another participant in the "no deposit trading bonus scheme", XM reserves the right to regard this matching as a reason for immediate disqualification. Now why is this not mentioned while I'm busy trading? I have asked for proof of violation and nothing. I've never had a bad experience with brokers before. XM takes the cup.

Same thing happened with. I asked them attach proof of the violation that occurred. Cause I've never any information with anyone, how can they proof I did that. They should give proof of how they concluded I shared any kind of information. They keep sending me an automated email saying: dear valued client, we thank you for choosing XM as your trusted broker. Regarding your concern, please have in mind that you received an email from us explaining the status of your account, and we kindly ask you to check that email and to have it in mind for further information. Should you have any further questions, please do not hesitate to contact us. Wishing you a great day and successful trading! This is all they've got say. None of my questions are answered. They are scammers of life this one. Do not trust this broker at all

Miss P 14 october, 2020

Many bad reviews are from ignorant lazy people. I've been with xm for 1.5 years and I prefer it. I withdraw into my bank in 2 days with no issues. I do what i want in my style and no issues. The only thing i dont like is that here in indonesia a lot of forex websites are banned even if well regulated. Even with vpn sometimes takes a few tries to open website, makes you think the broker went down. XM is involved and legit. Be informed and stop whining.

Don't think because you haven't experienced problems yet with xm and now other people's complaints are not legit. Stupid!

Baruch 7 october, 2020

People from different countries are treated in different ways there. May be that's why many are facing these problems.

Sachin 21 october, 2020

I don't know if this broker is a scam, I almost had open account in XM, but after reading lot reviews, a lot people complain about, actual this broker seem kinda popular and genuine trustwith, have a very good webpage and all, it seems 100% legit! If lot people feels scam by this broker, how comes it still legaly and operating after 10 year of existence, kinda strange in my opinion, but I still got my doubts and after reading lot complains about it, and decide not open an account in this broker!

I'm thinking of opening an account. XM should respond to all complaints and be transparent.

Gilbert 3 october, 2020

To those who claim to be happy with XM, why aren't you sharing your methods of withdrawing funds from trading accounts to bank accounts without having issues, which is the most mentioned issue here.

Disappointed trader 22 june, 2020 reply

The problem is not from the broker or the bank who didn't accept the withdrawal, but I talk with them and I got it most of time they don't accept ot just like that from first time.

Ayman 3 november, 2020

Thanks for all the honest reviews, I was about to open an acct in XM, until I read all these bad reviews, I would suggest to report these to the regulatory authorities.

I was recently scammed by XM. I am a first time real account trader and XM was recommended if you want to start off risk free. Ive done my due dilligence but XM was 50/50. I tried withdrawing to my skrill account but i had complications with skrill so i had to cancel. I tried to withdraw again and all my money was gone. I get an email saying things i literally dont understand. Dear valued client, we are contacting you with reference to your account(s) no. 57048994,4875388 (your account(s)) at XM global limited. The trading patterns in your account(s) raise serious concerns regarding the credit bonuses we have granted to your account(s), since these were used for cash-back arbitrage activities. Pursuant to the terms and conditions applicable to our credit bonuses, the following activities are qualified as follows: any form of arbitrage trading. Bonuses claimed by multiple accounts that were registered from the same IP address. Various practices of bonus manipulation. Breach of any points included in our bonus terms and conditions. Any fraudulent activities, disputes or situations that our management considers as fraudulent. Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have decided, with immediate effect to, (i) close your account(s) with trading point, (ii) to nullify all trades carried out in your account(s) with trading point, and (iii) to cancel any and all profits or losses garnered in your account(s) with trading point. 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, there will be no further correspondence on this matter.

Collins echefu 10 june, 2020 reply

When you make profit they will send you emails you won't even understand telling you that your trading raise some concern and they are closing your account and you won't even get your profit only initial money. I will not recommend this broker to anyone.

Thanks for the people giving comments based on their experience. I am looking for some honest broker, and its difficult to find one. Mostly I see all the brokers are cheating someway or another, eiher in spreads, or in charging, or in withdrawals and reluctant to give you back your hard earned money. Can any one suggest good honest broker here plz. Appreciate it.

Imran 29 september, 2020

Xm is one of the best brokers i know. I've been using them since 2015 and i'm a profitable trader. All brokers have stories but xm ena de less drama. I love you xm you made me who i am today.

I'm so disappointed on xm. I requested a withdrawal on 24/09/2020, it's been 2weeks I still have not received the money.

Sibu 7 october, 2020

Xm is a very bad broker, when it comes to withdraws they only give me the money i deposited and leave the profit i made.

Pfanani 23 may, 2020 reply

I made a withdrawal the beginning of april till this day I haven't recieved my money

Customer service is shocking, they refuse documents for account validation then don't tell you why they refuse, you send them a email and then you get a computer generated reply! More then willing to take the deposit but you cant trade or withdrawal until you have validated your account!! I sent the same documents to my offshore bank and they accept but XM. They take 24 hours to reply to one email so make sure it has all the information you require.

Never trade gold with xm. They freeze the price just has you about to go into profit by 6 pips and release when price is back. I did record it live next to another platform of mine. They refuse to give me answers. Bad broker only good for taking your money fast.

I scalp gold on m1 and m5 in illiquid times on xm and besides possible low internet connection, this has not been a problem for me.

XM is the worst broker i've ever experienced. These people claim to be the most legitimate company with so much awards but if you haven't used it yet I advice you with all my heart to stay away from them. First the deposit is one of the most fastest way I've seen & takes only 1 min. But withdraw to give you back your money is another story. I've withdrawn money after talking to them via live chat asking if I can withdraw using alternative methods, they said I can only do that if the money is profit above the initial deposit. Last week I withdrew 2 times but it never used the alternative method but instead they sent me an email saying the money is sent to bank. They claim it takes 2-5 business days. This is the second week complaining about my money with no sign of arrival what soever. When I try to chat them, they try to give me unnecessary reasons just for you to give up on your money. I claimed for my account manager to call me he refused to call at all. Up to this day idk what to do my money disappeared out of nowhere. The most saddest part is that I still have funds on their trading accounts that I truly want to remove from there as fast as possible but I cannot because two withdraws haven't even arrived to my bank yet. XM, you're not doing business in a professional way, you don't want to lose a single penny from your accounts. But guess what? I will not tolerate this, I will not give up claiming for my cash, I'll do whatever necessary wether legal or illegal to get my money. Do not think clients can just give up their money just like that. You'll not rest until you get to do your promises and business right. Once all my funds are out of your hands I'll leave you in peace. I sincerely regret working with you and I advice any other new client to not deposit because once the money is there, the return is almost to impossible. This review is from the bottom of my heart as a client for 1 & half year. My review is clearly below zero.

Manzi emery 27 april, 2020 reply

Forex reviews and information about brokers outspoken by their clients are valuable sources that give the trader an idea whether trading with a certain company is to be profitable or not. Once you are interested in trading with XM and would like to know if the official broker's information and their activity profile correspond to the facts, it is useful to read reviews about XM. These reviews have been written by either former or present-day clients who've described their positive or negative experience of trading with the broker, advantages and disadvantages of this company. All these attestations are different, and if you wish to add your comments, say, about improper client service of a broker or to underline their positive sides, this section is for you.

Reviews about XM might be of good service to the new forex traders who are yet hesitating which forex broker to opt for. The information featured in this section is judgmental and cannot be taken as an instruction manual; however, it is definitely useful and can help you understand if the broker matches your personal criteria. The topics of reviews can be very different; it is not prohibited to express an opinion on any forex trading issue. At that we expect our site visitors to be of decent conduct and to follow the moral standards.

XM group (XM) is a group of regulated online brokers. Trading point of financial instruments ltd was established in 2009 and it is regulated by the cyprus securities and exchange commission (cysec 120/10), trading point of financial instruments pty ltd was established in 2015 and it is regulated by.

XM group review

Last updated: october 30th, 2020

In this XM review, we checked XM trading platforms and compared XM spreads and other trading fees with direct competitors. We have also looked at XM’s robust trading assets offering. So, is XM trading a scam or not?

XM group (XM) is a group of regulated online brokers. Trading point of financial instruments ltd was established in 2009 and it is regulated by the cyprus securities and exchange commission (cysec 120/10), trading point of financial instruments pty ltd was established in 2015 and it is regulated by the australian securities and investments commission (ASIC 443670) and XM global limited was established in 2017 and is regulated by the international financial services commission (000261/106).

Excellent reputation

No requotes, no slippages policy

Minimum deposit $5

No deposit bonuses $30 (not for EU)

56 currency pairs available

Low spreads from 0 pips

Fast trade execution

Support in 25 languages

Competitive bonuses

Scalping is allowed

MT4 / MT5 or webtrader

Choose from 11 base currencies

Focused mostly on forex

Not available for USA traders

No forex options

No real stocks available (only cfds)

77.19% of retail CFD accounts lose money when trading cfds with this provider.

XM demo account

If you are a newbie and want to play with virtual money stress free, you can open a demo account that you can use for unlimited period of time. This means that all platform features and business strategies can be tested completely free of charge and without any risk.

Click here to open a free demo account where you can practice trading indefinitely. You can deposit real money anytime you want. Take your time.

XM trading platforms

You can choose between webtrader + MT4/MT5 .

We found webtrader pretty fast and stable. It is based on famous HTML sirix platform.

XM review – super fast webtrader based on sirix technology (click to enlarge this image)

XM trading instruments

XM is mostly focused on providing top notch forex trading experience!

Currently, you can trade with 53 forex currency pairs.

Regardless of what type of account you open, there are many cfds on stocks available from the worlds biggest stock exchanges (dowjones, SP500, DAX, CAC40). You can also trade CFD on precious metals like gold and of course crude oil.

Regardless of what type of account you open, with XM you will have access to metatrader 4, metatrader 5 two of the world’s most popular charting platforms. In addition to almost infinite amount of technical indicators, MT4/MT5 allows fast and automated processing of different trading positions.

Although we had no time to test XM mobile trading platform, they offer mobile apps that can be downloaded from google play and apple itunes. These apps are designed to work without any limitations with metatrader 4 and metatrader 5. Professional traders can manage over 100 different accounts from one platform using the XM multiterminal.

If you do not want to install any special software, you can use their XM webtrader directly from your web browser. Actually this was the trading interface that we have used during our test! In addition to its ease of use, this software provides constantly updated economic news as well as an economic calendar and market analysis for even more flexible trading!

XM review – trading accounts

When it is a time to switch from a demo practice account to a real account, you have several options:

XM group offers its clients 4 types of account:

MICRO

STANDARD

XM ZERO

XM ULTRA LOW

The MICRO account allows you to operate with micro lots, lower level of risk and it has minimum initial deposit of $5.

The STANDARD account allows you to operate with standard lots and it has minimum initial deposit of $5.

XM ZERO account has a $3.5 commission per $100,000 standard lot traded, it has minimum initial deposit of $100

Finally, the XM ULTRA LOW account allows you to trade with either micro or standard lots, lower spreads starting from 0.6 pips and it has minimum initial deposit of $50.

* XM ultra low accounts and XM ZERO accounts are not applicable to all entities of the group.

How to deposit into XM trading account

XM group offers a wide range of payment options for deposit/withdrawals by multiple credit cards, multiple local electronic payment methods, bank wire transfer, local bank transfer and other payment methods.

Which base currencies are available at XM ?

Base currency is the main currency of your account.

By selecting the right base currency, you can avoid currency risk in future.

Usually it is the currency that you are going to use to deposit. For example if you live in singapore, than you will for sure deposit SGD and make it your base currency. If you are from south africa we advise you to use ZAR as your base currency.

If you choose your country’s currency as a base currency, you can eliminate currency exchange fees that you would have to pay to your bank and also avoid any possible future currency risks.

EURO

JPY – japanese yen

SGD – singapore dollar

You can have one account with XM with one currency and another account in different currency.

XM bonuses

There is a time limited opportunity to claim competitive signup bonuses that will be credited right into your newly-opened XM trading account:

IMPORTANT NOTE: XM bonuses are NOT available for traders who signed up through trading point of financial instruments ltd.

$ 30 non-deposit BONUS to try out a platform for everyone (no deposit required )

+ 50% up to $ 500 bonus (example: you get 50% on top of all deposits up to $500)

+ 20% up to $ 4500 bonus (example )

XM review

Trading point of financial instruments

XM group is a group of online brokers. XM group offers the MT4, MT5 and webtrader currency trading platforms. XM.Com offers over 55 currency pairs and cfds on stocks, metals, commodities, equity indices, and energies for your personal investment and trading options.

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

Live discussion

Join live discussion of XM.Com on our forum

XM.Com profile provided by chris zacharia, mar 28, 2017

XM is a forex broker. XM offers the metatrader 5, metatrader 4 and mobile global forex trading top platforms. XM.Com offers over 55+ forex pairs, stocks,cfds, equities, indices, metals, and energies for your personal investment and trading options.

Video

Let other traders know if this service is worth checking or should be avoided.

Traders reviews

Super legit platform

I have started trading with real money on december 7,2020 and at the end of the month thursday 31 my account was up approximately 53 % .

Everything is working more than expected. And if there is more than five starts for evaluation I will give them all the starts in the sky. What a wonderful company .

They are very honest and sincere and think of clients more than themselves. Any question I ask I get a prompt reply from professional works that really appreciate to help you make money as they earn money too. It is a win win game.

In short, there is no company as good as xm.Com it is really the business itself.

Deposit easy, but its difficult to withdraw

I ve been trading for 2 months use XM broker, yesterday as i want to withdraw quite large above 3000usd suddenly they ask for scan of my bank account with my name on it, i understand that this is for security.

So I sent them as they request, but then they reply I need to sent from my registered email. Now the registered email using gmail that has dots, they receive my email without dots( so they assume its not registered how come since they sent all the daily confirmation to my same email address)

So i ve already change the email with dots and until now there is no reply from them

I just got info that XM has been awarded with best global forex 2020, and I hope they act like one

Length of use: over 1 year

I am utterly disappointed with XM, yesterday they recorded a lower price compared to other platforms and brokers. Due to this irregular behavior and price move, my positions were stopped out and thus disrupting my day, throwing me off balance completely.

Can anyone let me know if such behavior is possible? Customer support always gives you generic response, the feeling of helplessness when you discover your broker does not have your best interest at heart is devastating.

I am now convinced that perhaps I should look for another broker.

I am new to FPA, but I have been looking at the site for a long time, I saw the alerts about xm, but as I had support in portuguese I decided to take a chance, I figured that the problems described might not occur to me!
It was a big mistake on my part, i made some deposits, and i went through unsuccessful operations i lost a good amount of money at xm, so far so good, they are not to blame for that. When I finally make a new deposit and I have a "good" day, I deposited 100 and made 105.71 of total profit 105.71, I thought I will make a withdrawal and continue using the broker, that's when my headache started, I asked for the withdrawal via neteller, in which I had already deposited an amount, my withdrawal was denied and I was asked to withdraw via an astropaycard which had been the method of my last deposit, I went to the chat to complain, because I know about the money laundering law, I should be able to withdraw a part by neteller, after much discussion I was informed that I should withdraw by astropaycard, I accepted and withdrew, but in just 2 minutes after leaving the chat the following email arrived:

Important news
dear client,

We are contacting you regarding account (s) number 40025313 ("your account (s)") maintained at our company.

The trading patterns in your account (s) raise serious concerns regarding the trading bonuses credited to your account (s), as these were used in “cash-back arbitration” activities.

In accordance with the terms and conditions applicable to our credit bonuses, the following activities qualify as "cash-back arbitration":
any form of commercial arbitration
bonuses claimed by multiple accounts that have been registered using the same IP address
various bonus handling practices
violation of any points that are included in our bonus terms and conditions
any fraudulent activities, disputes or situations that our company considers to be fraudulent.

Given the fact that your account (s) trading patterns do not comply with the terms and conditions of the respective trading bonus program, we regret to inform you that any bonuses previously assigned to your account (s) will be deducted, with immediate effect and your account (s) is / are not eligible to participate in any future trading bonus programs.

Please note that our decision on this matter must be considered as definitive and binding on all participants and that, in addition to the notification set forth hereinafter, no further correspondence will be made on the matter in question.

I know that there are people who abuse the bonus programs, but it is not my case, I would be very happy if XM pointed out a concrete proof to the FPA, because accusing customers of having broken the rules at random is very easy for them to steal customers ! And all this happens only when you ask for a withdrawal! While I was losing money with them everything was great, everything was beautiful, it was me having a small profit that started this antics!
It is not a large amount, but note that in the current situation it is complicated to keep losing small amounts! The worst is the feeling of helplessness that we have when dealing with these scams!

I have further investigated the issue raised in your review and I can confirm that it was correctly decided that you will no longer be eligible to participate in any trading bonus programs, due to the nature of your trading activity.

Particularly and for your better understanding, please note that the trading patterns and trading behavior in your trading account(s) held with our company indicated that you were exploiting arbitrage opportunities. As you were accurately informed by the relevant department of our company via email, any actions taken in relation to your trading account(s) were fully in line with our company’s controls and procedures. At this point, I would like to stress the fact that no adjustments were performed to your trading account(s).

In view of the above, kindly note that the same trading conditions will apply to any new trading account(s) registered with our company. In this respect, I regret to inform you that your request to remove these trading conditions from your trading accounts is rejected.

I hope that the above information explains what has occurred, and I would like to assure you that it is not our wish to trouble our clients and further confirm that we always abide by the client - company agreement which governs our business relationship.

Length of use: over 1 year

Please note that I have investigated the issue raised in your review and I can confirm that your withdrawal request under question was correctly and successfully executed by our back office department as per our internal withdrawal procedures.

Notwithstanding the above, you have contacted our company claiming that you did not receive the relevant funds as such, our personnel correctly informed you that in order for us to be in position to escalate the case we need some supporting documents. More specifically, you were requested to provide us with a bank statement starting from the date of the withdrawal (i.E., 25/11/2020) as proof of non receipt of the funds so as to investigate further with the bank.

Due to the fact that we were not provided with the requested document, the relevant department of our company was not in position to escalate the case and as such, I would like to inform you that once we are provided with the requested proof, all the necessary actions will be taken.

I have further investigated the issue raised and I can confirm that the reason as to why your withdrawal requests are being rejected is due to the fact that the bank details submitted are invalid.

Particularly and as you were accurately informed via email by our back office department, we were unable to proceed with your withdrawal requests, as the bank account information you have provided us with was incorrect. At this point, I would like to stress the fact that you submitted several withdrawal requests using different bank accounts; however all of them were bouncing back as invalid.

In addition to the above, I can further confirm that you were requested to provide additional documentation in order to prove that all bank details you input were correct, but we never received any documentation from you and as such, we could not raise the case to our payment service provider.

I would like to assure you that it is not our wish to trouble our clients and further confirm that upon receipt of the requested documentation, the relevant steps will be taken.

Low lavrage

Length of use: 6-12 months

Length of use: over 1 year

->->->->->->->"is hedging allowed on XM MT4/MT5 trading accounts?
Answer:

Yes, you can hedge your positions as much as you can with XM.

The margin requirements will be balanced out and there is no required margin for hedging with XM.

However, for hedging CFD instruments, margin is only required once.

*even when hedging positions, the required margin can be increased due to market conditions.
Please note that XM does not allow ‘arbitrage’ trading on their trading platforms.

There are certain rules to protect other traders and the broker’s benefit. For more information, please refer to XM’s terms and conditions or contact the support team.
Date: mo., 9. Dez. 2019 um 01:01 uhr
subject: important notice - account no. 19123879, 19125255, 19122186, 19125256, 19117576, 18059051, 21188365, 19124598, 19124597, 21188390
to:
cc: christos gogas

Dear sir/madame,
we are writing in connection with your account no. 19125255 19125256(hereinafter “your account”) with our company.
In that regard, our anti-fraud department has brought to our attention that the trading patterns in your account(s) raise serious concerns that your account was being used for ‘arbitrage’ activities.
Pursuant to the terms and conditions such activities are being qualified as fraudulent.
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 account(s);

As a result, you are kindly requested to submit a withdrawal request for your remaining balance through the withdrawals section of our members area and this shall be processed accordingly. If no withdrawal request is received within the next 48 hours, your funds will be sent back to the source.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.
Kind regards
--
XM team

Hello,
I don't use "arbitrage". I only use hedging with 2 accounts. I've been your customer since 3 years and you wanna close all my accounts yet?You will lose a lot of customer because I did free marketing for you. I told all my own customer about you. In these 3 years I never did a mistake and now you will close all my accounts?Then I will switch to another broker and tell all my customer what you do. I like XM and I show my loyality to XM. But you close negative trades and I lose one whole day. How you will make it good?
Best regards
anthony ******

That's now 1 year ago. I write them a new message some days ago to clarify:

Hello,
it‘s now 1 year ago you close all my accounts because you say I did arbitrage. I said to you, I don‘t did arbitrage. I hedged my trades but you don‘t give me a chance to show that. You didn‘t show me any proof. Now I work with a lot of big other brokers. I‘m ready to apologize your mistake because I want to be a customer of xm. Because I know xm has good conditions. Is it possible to clarify? For me it‘s not important. I can be a customer from the other brokers too. That’s your decision. I am not dependent on you. So you can choose now, if you maybe has a very loyal customer, who recommends you to other people or you haven‘t.
Best regards
anthony ******

---------- forwarded message ---------
von: christos gogas
date: mo., 19. Okt. 2020 um 10:54 uhr
subject: my account 19117576
to:

Dear sir/madam,
thank you for contacting us.
Regarding your concern I would like to ask you to refer to the email you received about the status of your account.
Kind regards,

I think they don't read the message, they are all to lazy to clarify that. XM has good conditions but the support isn't existing.

Dec 26, 2019 - 2 stars hello,

XM has good conditions for their customers.
I prefer the deposit bonus and the margin stop out level. The spreads are very stable.

But the support ist terrible. I have been your customer for more then 3 years.
I never did a mistake.

For more then 2 weeks ago I opened two low spread accounts. With one account I bought EURUSD and with the other I sold EURUSD. At the midnight I got a message that I'm a scammer because I used "arbitrage". That's not f***ing arbitrage. That's hedging. So they close all my accounts. After that I wrote a message to my account manager and to the support. I replied the message of them. But they only wrote back "we can't do anything".

What the hell. I was a very loyal customer, I told other people that xm is the best broker. Some of my customers are customers of xm because I told them about them.
You can make one mistake and they give a f on you. That's not a support. They should get 0 stars for that. But I see the positive sides too.

I'm very angry about that. They destroyed my ranking on MQL5 and had stolen more than 4 hours of my life. But thanks to god. I got a meesage from another broker which want to work with me. I would have deposit a very big amount in xm. But now it's to late. I don't want to work with a broker who gives a f on their customer. Bye.

Reply by chris zacharia submitted jan 8, 2020 dear at0nu5,

In order for us to properly investigate this and be able to provide you a comprehensive reply we would need the account number of one of the accounts which you used.

Reply by chris zacharia submitted oct 30, 2020 dear at0nu5,

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 within your trading accounts. Kindly note that the latter is also confirmed by you in your review above.

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 addition to the previously-mentioned, I can confirm that the remaining balance in your trading account has been withdrawn.

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.

Kindly note that our company allows its clients to use the hedging strategy; however, by placing opposite orders in-between your trading accounts, you create an environment which does not follow the fair rules of trading and makes the strategy in a way risk free(i.E., exploiting arbitrage opportunities) and therefore not permitted.

Due to our “no negative balance” policy, the trading strategy described above would have limited the potential loss to the entire balance of the account having the loss-making position and the account having the profit-making positions to have unlimited upside potential which would duly cover the losses suffered in the loss-making account.

In this respect, kindly bear in mind that the above cannot be deemed as an acceptable strategy and it is considered as a violation of the company’s terms and conditions of business.

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:

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 XM card or e-wallet, these payments are 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.
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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 international financial services commission (IFSC), registration #IFSC/60/354/TS/18;

Cyprus securities and exchange commission (cysec), registration #120/10.

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 888:1 that can be instantly changed in your account members area.

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.

So, let's see, what we have: XM group took form in 2009 in cyprus with its former name, trading point of financial instruments ltd. The XM brand is a group of online regulated forex. Over the years, this brokerage group has amassed a huge number of traders and reached to more than 196 countries globally. At xm trading scam