Review xm

The cyprus securities & exchange commission has asked me to provide it with a CIF reference number to lodge a case.

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Important news
dear client,

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.

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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.

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

Traders reviews

Length of use: 6-12 months

XM.Com is the worst broker in the world.. They have the worst service.. Provide a high leverage & out to steal your money.. I have an ongoing dispute with them which remains unresolved.. They refuse to give me a case number to refer my case to the cyprus securities and exchange commission (cysec) (licence number 120/10), international financial services commission (IFSC) (license number 000261/106), financial conduct authority (FRN: 705428), australian securities and investment commission (AFSL 443670). I still await a resolution to my dispute.. They are the worst broker ever.. Do not support or deposit funds with these thieves.. They offer an addictive & destructive product.. Stay away from them. I want my $35,000!!

Apr 23, 2020 - 1 star good day,

Hope this email finds you well.

The cyprus securities & exchange commission has asked me to provide it with a CIF reference number to lodge a case.

To date i have not received a CIF ref number in correspondence?

Please provide me with a CIF ref number?

At no point did xm.Com refer me the the cyprus securities & exchange commission.

Attached is my complaints to be lodged to the cyprus securities & exchange commission.
.
Kind regards

#noresponsereceivedfromxm do not use xm.Com as you will loose you money like me! XM.Com #the kings of ducking and diving

I am in $35,000 of credit card debt because of xm.Com

Be warned, they are the worst from my experience!

Reply by chris zacharia submitted apr 30, 2020 dear moey007,

First, I would like to inform you that the trading account provided is under XM global limited and therefore, your business relationship is with XM global limited. In view of the latter, please bear in mind that XM global limited is authorised and regulated by the international financial services commission ("IFSC") and as such, the cyprus securities and exchange commission ("cysec") is not the competent authority to review your complaint.

Notwithstanding the above, please note that I have investigate the issue and I can confirm that an official response has been sent to you by the relevant department of our company in relation to the subject matter, via email, on 21/05/2019, on 25/02/2020 and on 28/04/2020.

In this respect, I would like to stress the fact that the issue you are raising in your emails concerns only you and the relevant third party and our company cannot be considered a party or that it is involved in any way in the dealings/relationships its clients may potentially have with any third party.

In view of the fact that our company is not, in any way, involved in the subject matter, I can conclude that there is no basis to raise a complaint against our company and I can reject your claims that you have not been properly assisted by our personnel in regard to this case.

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.

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 reviews

133 • poor

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Reviews 133

I normally don’t feel comfortable…

I normally don’t feel comfortable investing online but, due to pandemic, I lost my job because the company I worked for downsized. I had to invest my savings in this site, with the hope of getting some good returns. This company refused to pay me my earning, neither my investment. I was so sad because I had no other money left. I got to know of joanne-dawn56 at ya hoo, and I contacted her. I’m glad I did because I was able to get back all that I lost.

I really appriciate like

I really appriciate like
traderecovery net
website is good and very halpful to people earn money every body like to earning money but
traderecovery.Net
website diffnitly work hard and people enjoying

Had a bad experience ,wasn’t easy for…

Had a bad experience ,wasn’t easy for me until I met this expert company, I will highly recommend this company below
(www. Globalfundsreclaim. Net)
these agency are sincere and honest in all way round in helping getting back lost assets.

+ 4 475, 37 18 5 2 77

Brilliant company to work with along with great colleagues who are always helpful. I am very pleased with the efficiency of the whole platform, it seems to run like clockwork - someone must be working hard in the back ground. Very pleased with mr david trading platform.

These people are scammers and will keep…

These people are scammers and will keep everything you deposit with them. Stay well clear. I managed to get everything refunded with help of

(debtsrecovery agency. Net)

Finally i can smile again!

My experience with this company is…

My experience with this company is terrible. I lost my money to this people and no one was talking about a way out of the mess. The customer care representative I spoke to kept saying there’s nothing they could do and then they stopped picking my calls or replying my mails. It was after I involved
( recoveryloop.Tech) they work on my case which prompted this company to refund

I was scammed I thought my whole world…

I was scammed I thought my whole world was crumbled now I'm happy and healthy I got all my lost back

Scam. They stopped me from buying GME and they said is to protect my portfolio. Sorry since when I hired you as my financial advisor? Manipulators! Leaving. I made 20k within 6 months.. Do you think i need your advice now?

Their graphics get frozen when you are…

Their graphics get frozen when you are going to make huge gains. Its a clockwork second by second when you lose and it gets frozen when amount turns into green. After several emails and several complaints they still blame the exchange market itself. I lost recently 3.8k euro on gains and end up with 600 loss approximately. The graph hit 158 and my T/P was at 145, the trade didnt close. I dont know if they are manipulating it or its just a bad luck. But it all happens due to their system and malfunctionality and they have to cover that loss for their customers instead of pushing it back without checking the logs.

Thiefs

They never paid me my withdrawel

Not bad but.

The XM platform is good, MT4 or MT5 is also good, withdrawals via skrill no problem, in less than 24hrs you get your funds if your account is verified and everything must be under your name, thats normal.
I only have one complaint: many times it happens that they don’t let you set a stop loss on less than 40 or 50 pips, that is crazy! I am not talking about exoric forex pairs that I would understand.
For this reason I will not trade with them anymore!

XM & trading.Com both fraud companies. XM is NOT registered in FCA

Its a fraud company, contact FCA and give them the (FRN: 705428) number shown in the bottom of the xm.Com website (xm has updated the legal declaration and removed this FRN lol. I am going to haunt XM and trading.Com) and FCA (https://www. Fca. Org. Uk/contact) will tell you xm.Com is not a genuine company and does not appear in FCA record at all. The company which appears in the FCA record is trading point of financial instruments UK limited which has not notified the FCA that xm.Com is part of them. So under these circumstances FCA will tell you xm.Com is not a registered entity in the FCA record. So any dispute with xm.Com will not be dealt by FCA but by action fraud team (https://www. Actionfraud. Police. Uk/). Which makes xm.Com illegal to provide any kind of CFD or trading services to the UK residents. So whoever used xm.Com can contact their bank to freez and dispute the transactions.
The MT4 platform will play against you, as it did against my BUY STOP order. It did execute the order before the price reach to that point. Also my trailing which was supposed to close previous position was not started and my account was drained to zero. I have solid evidence of snapshot which I have taken. Xm.Com is full scammed. Contact FCA in uk and they will tell you xm.Com is not registered and cant use (FRN: 705428) for their illegal services in U.K

Stop loss not reliable

Stop loss not reliable ! Account came to ZERO because position didn’t close when stop loss was hit but faaar below !! Support contacted but they are rude and don’t give a sh.. ! Avoid these robbers

This is really bad trading platform…

This is really bad trading platform they close the deal with their own do not recommend this to anyone

Very poor complaint resolution process

They will take ages to respond if you lodge a complaint. High slippage with gold. Overall a shady broker

The worst of all

The worst of all, they are so rude to thank god I didn't make any transaction with them. They called me and they're asking me for hundreds of documents, cheaters, and fake people never trust this company. They're full of shiz.

When all efforts seems hopeless

When all efforts seems hopeless
when all efforts seems hopeless, i finally got blessed with delgado mary. She kept her promises. I was really skeptical towards her at first but thanks to this great platform it worked out beautifully. She was able to reclaim my money as promised. You can reach her: delgadomary827 at

It is a SCAM with big letters

It is a SCAM with big letters. After 2 weeks i have the following problem, which i will describe in steps.
1) i had some accounts in the past ( one of them had a 19euro deposit with bitcoins)
2) the accounts closed after inactivity and this year i decided to participate again, and rock n roll a bit with the stocks since i enjoy their leverages.
3) i open an account and i place 70 euros inside with DEBIT CARD
4) i win around 58 euros, and i try to take them out. They gave me back the 70 i placed but they told me use another way for the winings.

In this step i need to clarify that they currently have 4 ways of withdrawing. A) card B) bank C) E-wallet D)bitcoin

5) I tried with card and i got a response to try an alternative way. I tried with bank and they sent me an email regarding these 19 euros from the old account and that i had to withdraw another way. I tried with ewallet for the rest of the winnings but they did not let me either if i did not first get these 19 with bitcoin.

6) so, i used my ledger nano S wallet to withdraw my winings and guess what. They did not accept the wallet! After 2 weeks of struggling all i got is: find another wallet this is not valid.

What is not valid? One of the biggest companies securing crypto assets? Come on. So they told me either get another company ( but its my legal right not to trust another company ) or you can not get your funds. This is illegal since their platform has the problem and not the wallet obviously. Stay way. Very easy to deposit money, but as i saw here as well, many have problems withdrawing. Unbelievable experience i dropped out from them and i suggest you do the same. I also operate on etoro the last 8 years and i never had issues like that. Stupid platform and their support does not help at all

PS here is a hint, if you insist they connect you to a superior support member who can connect to your account manager and maybe that way you can have someone call you. At least they did for me, although this person ( woman ) told me that they would disable the btc withdrawal so that i could get my money with e-wallet, only to find out that after a few hours they sent me an email that what they told me on the phone was not possible. Amazing guys i will report that to the cybercrime unit first thing tomorrow morning as well and sue them for my time lost.

XM group review

Since it was founded in 2009, XM group has grown to become one of the largest and well-established investment firms with more than 1,500,000 clients worldwide.

XM group provides support for more than 30 languages, while it aims for 99.35% of all its trading orders to be executed in less than one second, with no re-quotes and no rejections.

With clients from more than 190 countries, XM group offers a range of services including currency trading, cfds on equity indices, precious metals, and energies. There are also more than 25+ secure payment methods available to traders, across 16 full feature trading platforms.

XM group is a group of online regulated brokers. Trading point of financial instruments ltd was established in 2009 in limassol, cyprus and is regulated by cysec with license number 120/10. XM global limited was established in 2017 with headquarters in belize and it is regulated by international financial services commission (000261/106)

Used by 700,000+ traders

Established in 2009

Regulated by IFSC, cysec, and ASIC

Min. Deposit from €5

To open a live account, you’ll need a minimum deposit of at least €5. Alternatively, XM group offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by cysec (licence: 120/10), and ASIC (AFSL #443670). XM group puts all client funds in a segregated bank account and uses tier-1 banks for this. XM group has been established since 2009, and have a head office in cyprus & belize.

Before we dive into some of the more detailed aspects of XM group’s spreads, fees, platforms and trading features, you may want to open XM group’s website in a new tab by clicking the button below in order to see the latest information directly from XM group.

Full disclosure: we may receive a commission if you sign up with a broker using one of our links.

78.04% of retail investors lose money when trading spread bets and cfds with this provider.

What are XM group's spreads & fees?

Like most brokers, XM group takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commisions and spreads displayed below are based on the minimum spreads listed on XM group’s website. The colour bars show how competitive XM group's spreads are in comparison to other popular brokers featured on brokernotes.

XM group
EUR/USD (average: 0.7 pips)	0.1 pips + $10.00	0.09 pips + $5.00	0.1 pips
GBP/USD (average: 1.1 pips)	0.1 pips + $10.00	0.59 pips + $5.00	0.1 pips
USD/JPY (average: 1.1 pips)	0.1 pips + $10.00	0.25 pips + $5.00	0.1 pips
AUD/USD (average: 0.8 pips)	0.2 pips + $10.00	0.17 pips + $5.00	0.2 pips
USD/CHF (average: 2.3 pips)	0.2 pips + $10.00	0.35 pips + $5.00	0.2 pips
USD/CAD (average: 2.9 pips)	0.2 pips + $10.00	0.31 pips + $5.00	0.3 pips
NZD/USD (average: 3.6 pips)	0.3 pips + $10.00	1.1 pips + $5.00	0.3 pips
EUR/GBP (average: 2.4 pips)	0.2 pips + $10.00	1.0 pips + $5.00	0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, XM group’s minimum spread for trading EUR/USD is 0.1 pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with XM group vs. Similar brokers.

How much does XM group charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with XM group at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $9.85. Here’s a rough breakdown of the fees and how this compares against IG & XTB .

XM group	IG	XTB
spread from :	$ 1.00	$ 6.00	$ 2.00
commission :	$0.00	$0.00	$0.00
total cost of a 100k trade:	$ 1.00	$ 6.00	$ 2.00
$5 more	$1 more
visit XM group	visit IG	visit XTB

All fees/prices are for informational purposes and are subject to change.

What can you trade with XM group?

XM group offers over 261 different instruments to trade, including over 55 currency pairs. We’ve summarised all of the different types of instruments offered by XM group below, along with the instruments offered by IG and XTB for comparison.

FX / currency cfds	XM group	IG	XTB
# of forex pairs offered	55	90	48
major forex pairs	yes	yes	yes
minor forex pairs	yes	yes	yes
exotic forex pairs	yes	yes	yes
cryptocurrencies	no	yes	yes

commodity cfds	XM group	IG	XTB
# of commodities offered	15	34	21
metals	yes	yes	yes
energies	yes	yes	yes
agricultural	yes	yes	yes

index & stock cfds	XM group	IG	XTB
# of stocks offered	160	8000	1606
UK shares	yes	yes	yes
US shares	yes	yes	yes
german shares	yes	yes	yes
japanese shares	yes	yes	yes
see XM group's instruments	see IG's instruments	see XTB's instruments

What’s the XM group trading experience like?

1) platforms and apps

XM group is one of the few brokers that offer both of the metatrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. The combination of downloadable platforms for both mac and windows allows traders to trade with their device of choice.

XM group also offer mobile apps for android and ios, making it easier to keep an eye on and execute your trades while you are on the move.

Still not sure?

2) executing trades

XM group allows you to execute a minimum trade of 0.01 lot. This may vary depending on the account you open. XM group allows you to execute a maximum trade of 100 lot.

As a market maker, XM group may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As a nice bonus, XM group are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

XM group also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by XM group here.

Finally, we’ve listed some of the popular funding methods that XM group offers its traders below.

Trading features:

Allows scalping

Allows hedging

Low min deposit

Offers negative balance protection

Accounts offered:

Demo account

Micro account

Standard account

Zero spread account

Islamic account

Funding methods:

3) client support

XM group support a wide range of languages including arabic, chinese, english, french, german, greek, hindi, hungarian, indonesian, italian, japanese, korean, malay, polish, portuguese, russian, spanish, swedish, thai, and turkish.

XM group has a brokernotes double AA support rating because XM group offer over three languages

4) what you’ll need to open an account with XM group

As XM group is regulated by IFSC, cysec, and ASIC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

A scanned colour copy of your passport, driving license or national ID

A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore XM group’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with XM group you can visit their website here.

A review & guide to trading with XM

XM group is a group of online regulated brokers. Trading point of financial instruments ltd was established in limassol, cyprus and is regulated by cysec with license number 120/10. Trading point of financial instruments pty ltd was established in sydney, australia and is regulated by ASIC with license number 443670. Let us take a quick look at some of the basic features of this platform which are important to note when considering XM as an online broker.

Trading systems

XM offer a variety of trading platforms, including web trader, MT4 and MT5. Web trader is excellent due to the fact that a client can access real-time market information directly through the website without having the need to download any software. This is ideal for those with limited hard disk space or who wish to access their account through a smartphone.

Metatrader 4 is one of the most popular systems currently in place. Not only are all prices and movements clear, but its user-friendly nature will vastly increase the performance of any trader. It should be noted that both manual and automatic trading options are available through metatrader 4.

Types of accounts

The first level of trading account is known as their micro trading account, which can be opened with $5. This is aimed at those who are learning the forex markets and wish to trade micro lots.

XM group’s standard trading account represents the next level up. As the name suggests, this is the type that is primarily used by seasoned traders who are willing to expose themselves to a moderate amount of risk with standard lots. One of the primary differences with this account is that larger contract sizes are available.

XM zero accounts require a minimum deposit of $100 and offer spreads as low as zero pips, along with XM’s no re-quotes execution policy. It’s important to note that XM charge a total commission of $7 for every $100,000 traded on their zero account.

Demonstration accounts are also available. These are intended for those who wish to try out the platform before making an ultimate decision. Interestingly enough, no less than $100,000 dollars in virtual funds are provided. It should be mentioned that XM also offers islamic accounts for those who wish to trade under the principles of sharia law.

Spreads and commission

As with most online forex brokers, the spreads will depend upon the trading system and the type of account. Spreads can start as low as zero pips (on a zero spread account). An added benefit in regards to these pips is that fractional pricing is available; five digits are provided as opposed to the standard four digits offered in other sites. Both fixed and variable spreads can be chosen by the trader.

There are no commissions charged by XM. Instead, the company makes a profit on the spreads of the trades themselves. There are therefore no hidden fees and the gains (or losses) which a trader makes are quite real.

Underlying assets

There are several different instruments that can be traded through XM. Some of the most popular are:

Forex

Stocks cfds

Commodities cfds

Precious metals cfds

Energies cfds

Equity indices cfds

No EFT trading is supported by this platform.

Reliability and efficiency

XM.Com is considered by many to be one of the most reliable platforms available for those who wish to execute real-time trades (nearly 100% are completed in less than one second). There will be no re-quotes and all figures are as they stand upon the execution of a position. Due to the use of the previously mentioned trading platforms, there is little lag times between the observed prices and their actual market equivalents. However, this will partially rely upon the processing power of one’s computer and its connection speed.

Payment and withdrawal methods

XM group accepts the most commonly used local payment methods today including credit/debit card, neteller, skrill, bank wire transfer, etc.

It should be noted that it’s currently not possible to use paypal to deposit or withdraw funds.

Customer support

XM boasts appreciable levels of client engagement and support. A live chat widget, email and telephone number are offered as standard to clients of all account levels. One of the most interesting features of this support is that (currently) XM provides customer service in no less than 20 different languages. Facsimiles are also able to be sent to four different numbers depending upon one’s physical location. These support services are only available from monday through friday. Any requests put forth during the weekend will be addressed on the next business day.

Conclusion

XM group is quite a popular online broker for traders of all skill levels. Its primary benefits are the high reliability of trade executions, easily manageable platforms, and no order rejection.

Still, there are some downsides to be noted. As mentioned previously, the use of paypal for money transfers is currently not supported. There is little difference (besides the risk and trading volume) of the three account types. Finally, the fact that customer support is only available from monday until friday may slightly aggravate some traders who wish to execute positions during the weekend. XM.Com is nonetheless a powerful online forex broker which should not be overlooked.

Marcus founded brokernotes in 2014 after trying hard to find a broker for himself to trade and struggling to compare brokers like-for-like. You can find more about brokernotes & marcus here.

Cfds are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from www.Xm.Com on 01/02/2021.

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XM review

Regulation and security

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 international financial services commission (000261/106).

XM’s regulation in cyprus provides its clients there with a degree of investor protection, as cysec maintains an investor compensation fund which is empowered to award depositors who lose their accounts due to failure of a regulated firm an amount up to €20,000.

XM has been in operation as a brokerage since 2009, giving it a relatively long track record. Typically, it can be said that the longer a broker has been in business, the more reputable the broker should be held to be. This means that XM can be said to have a substantial track record and an established reputation of safety as a brand which it will wish to protect.

Like all forex / CFD brokerages regulated in member states of the european union like cyprus, all clients of XM enjoy negative balance protection. This means that it is impossible for any client to lose more than the amount they have deposited with XM. The “tail risk” of an extremely large and sudden market movement, amplified by any leverage used, is borne fully by XM under this european union regulation.

XM highlights

��️ headquarter	cyprus, belize, australia
⚖️ regulations	cysec, ASIC, IFSC
�� type of broker	market maker
�� minimum deposit	$5
�� maximum leverage	1:888 *the maximum leverage foe clients registered under the EU regulated entity of the group is 30:1
�� type of platform	metatrader 4, metatrader 5, web-based
�� deposit with credit card	yes
�� depositing with wire transfer	yes
�� demo account provided	yes
��️ instruments traded	forex cfds, commodities cfds, equity indices cfds, precious metals cfds, energies cfds

The question of fees charged by a brokerage should always be paramount in the mind of anyone searching for the right forex / CFD broker. In considering the question, all costs of doing business must be considered carefully. We can break the entirety of fees and costs into two separate sub-categories: fees which are incurred through opening and closing trades, such as spreads, commissions, and overnight financing; and incidental fees, such as charges imposed by the brokerage due to account inactivity, or transaction fees applied to deposits or withdrawals. The trading fee element is going to be most important by far so this should be examined first.

Looking at trading fees first, we begin with spreads and commissions, which should be lumped together as an all-in “round trip” cost covering the opening and closing of a trade. As XM offer a few different account types which charge slightly different fees, we will judge the trading fees of its most common account type, the standard account.

The average round trip cost of trading the benchmark EUR/USD forex currency pair is 1.7 pips. However, this falls to only 0.8 pips in the XM zero account.

The average round trip costs of trading individual stocks, soft commodities, and equity indices are average for the industry.

Finally, data on the average round trip cost of trading the precious metals gold and silver shows that it is never below 30 cents for gold and 3 cents for silver.

It can be said that these levels of spreads and commissions are competitive for depositors of relatively low amounts. The minimum deposit required to open a standard account is only $5, so for traders depositing only a few hundred dollars or less, these fees will certainly be competitive. However, traders with considerably larger sums to deposit such as a few thousand dollars would be able to find more competitive alternative brokerage options within the industry, unless they wish to open an XM zero account which has extremely competitive fees.

The next thing to consider as part of the fee structure is overnight financing, which is usually a net charge applied to every trade daily which is open at 5pm new york time, although it can sometimes be a payment. These fees are, at least theoretically, based upon tom/next fees applied in the intrabank market, but retail brokerages tend to offer relatively unfavorable rates which can make swing or position trading expensive, especially when buying into currencies with very low or negative interest rates. XM are open and transparent about their overnight financing rates, which is a good sign. XM state that their rates are based upon the bank market’s tom/next rates plus the XM mark-up. Comparing the rates offered at the time of review to the industry average, their overnight financing rates are relatively competitive, meaning that XM may be a good choice for traders who wish to hold positions open for periods longer than a day or two.

We end this section on fees by looking at incidental transaction fees, occurring through non-trading processes.

XM charges an account inactivity fee of $5 per month after 90 days. XM charges no additional fees on deposits or withdrawals except where an amount of less than $200 is moved by wire transfer. Overall, this is not a bad deal, unless you are making a very low deposit and will want to make no trades at all for a period which may be longer than one month.

Our conclusion on fees: XM’s fees are competitive for traders making deposits under $1,000 across all account types, while the XM zero account is competitive at any deposit level.

What can I trade

After regulation, safety, and the fee structure, the next most important element to consider when choosing a forex / CFD brokerage is what is offered for trading on the broker’s menu. Some traders will be seeking exposure only to one asset class, such as forex, or cfds on individual stocks and shares, while others will be looking for diversification.

XM offer the following instruments for trading:

Forex – more than 55 currency pairs and crosses, including exotic currencies, as listed below.

Stocks – an extremely wide selection of individual stocks are offered for trading, with more than 1,200 different equities currently listed by XM. This is a very impressive, wide range of choice offered as an access to global equities. Stocks are offered from seventeen different national equity markets, including of course the major markets such as the U.S.A., the U.K., germany, switzerland, and australia, but also russia. Otherwise, the geographical markets are entirely european. Traders interested in trading individual major market stocks should give XM serious consideration as a broker of choice.

Commodities - a decent selection of 8 soft commodities are offered, which is more than most brokerages run to. They are listed below.

Five energies, including natural gas, are available to trade.

The final element of XM’s commodities offering are precious metals, namely, gold and silver. More exotic precious metals such as platinum and palladium are not available.

Equity indices – 18 major equity indices are on the menu, which is a decently wide-ranging selection for choice. The full list of equity indices is set out below.

Our conclusion regarding XM’s offering of tradable assets is favorable, with a wide range of asset classes offered that should satisfy most traders. The offering is especially impressive concerning global equities, with an unusually large amount (over 1,200) on the menu at the time this review was published. We expect there is a sufficiently wide range here for those traders who are not particularly interested in individual stocks and shares, but who want to be reasonably diversified across major markets.

Account types

XM group offers its clients 4 types of account: MICRO, STANDARD, ZERO and ULTRA LOW with low spreads. 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. The XM ZERO* account allows you to operate with standard lots, lower spreads starting at 0 pips and it has minimum initial deposit of $100. XM ZERO account has a $3.5 commission per $100,000 traded. 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.

All account types allow hedging, scalping, and automated trading via expert advisers.

We think that the range of account types offered are realistic, easy to use and understand, and good value. Too often in the retail forex / CFD industry, account type classifications are made unnecessarily complex for marketing purposes. It is admirable that XM seem to have refrained from doing this and are instead looking simply to give their clients what they want and need.

Trading platforms

XM offers all its trader clients a choice between the use of the two most popular retail forex / CFD trading platforms globally. Clients with any account type may choose to use either metatrader 4 or metatrader 5. Both platforms are well-known, intuitive, and easy to understand, and have been around for many years. Both platforms are also very popular with the retail trading community. Some traders may wish for a deeper choice of platform that is given here, yet a big majority of traders who find themselves considering becoming customers of XM will find the choice on offer adequate.

XM offers a range of MT4 and MT5 platforms for both windows and mac operating systems which gives traders unrestricted access to all platforms.

In addition, a range of MT4 and MT5 mobile applications for both apple and android operating systems seamlessly allow access to an account with full account functionality from a smartphone or tablet.

XM pioneered the offering of an MT4 platform with trading execution quality in mind. It offers the following benefits: over 100 instruments including forex, cfds and futures, 1 login access to 8 platforms, spreads as low as 1 pip, full EA (expert advisor) functionality, 1 click trading, technical analysis tools with 50 indicators and charting tools and 3 different chart types.

Trades can trade with the MT4 platform on their mac as well as on mobile devices such as androids and iphones, ipads and tablets.

XM webtrader 4

XM webtrader 4 is accessible for PC’s and mac’s without downloading. Traders can choose from over 100 instruments including forex, CFD’s and futures, 1 single login access to 8 platforms, spreads as low as 1 pip, 1 click trading and built in news functionality.

XM MT4 multiterminal

The XM MT4 multiterminal platform is the ideal tool for traders wanting to handle multiple MT4 account from 1 single terminal with ease with 1 master login and password.

It supports up to 128 trading accounts, has multiple order types, three allocation methods and provides management and execution in real time.

Metatrader 5 offers a range of extra features that analyze the market and help traders trade in any style they want.

In addition to all the features of the MT4 platform, the MT5 platform also offers different order types such as 'fill or kill' and 'immediate or cancel' as well as technical and fundamental analysis using over 79 analytical tools.

Unique features

The standout features of XM are twofold: first, its strong regulatory regime in two major industry centers (australia and cyprus, the latter of which gives passporting into E.U. Regulation throughout the union); secondly, its very extensive offering of individual equities listed in european countries and other major developed nations.

XM’s zero account also has an extremely competitive fee structure at a very low minimum required deposit.

XM is proud of its history and its accomplishments. Its milestones in our corporate history chart goes back to 2011 and points to a background of trustworthiness and corporate involvement.

The XM management has visited over 120 cities around the world to connect with their clients and partners in order to interact with them on a face to face basis. They have hosted more than 100 seminars to educate traders, enabling them to make better trading decisions. These activities have helped XM reach the highest levels of client retention of any forex broker, anywhere.

In fact, XM prides itself on having over 300,000 real accounts opened to date from 196 countries and over 150,000,000 trades executed with zero re-quotes or rejections, ever.

XM withdrawal problems

XM is one of the biggest retail brokers operational with more than 3,500,000 traders from 196 countries. It provides traders with more than 25 payment options and given the size of this broker and broad international reach. Therefore, it is not surprising for a few clients to claim XM withdrawal problems. XM maintains a clean track record with five regulators, making isolated stories of issues related to a withdrawal dubious. Those claims are often made in online forums with the well-document malicious intent to extract payments from brokers to avoid tarnishing their reputation. All known claims were related to traders violating the terms and conditions. One trader claims he deposited his friend’s skrill account into his XM trading account. The case dates back to 2013 and violated anti-money laundering (AML) regulations. While they were not as detailed as today, at that time, some brokers did not check the source of deposits, while withdrawals faced strict scrutiny. The trader provided no supporting evidence and stopped responding to the thread he started, suggesting it was nothing more than a malicious attempt, potentially sponsored by a competitor, a common practice in the industry, or by a disgruntled trader who faced losses.

XM also offers generous bonuses, however, clients registered under the EU regulated entity of the group are not eligible for the bonus (ESMA regulations). XM remains a legit, trustworthy, and honest broker that offers bonuses. Traders should consider the source of any claims of XM withdrawal problems and the lack of evidence before trusting misleading smear campaigns.

Research and education

The XM research & education offering is impressive. It should be said that a forex / CFD brokerage can offer an excellent service without providing any education or research offering at all. Brokers primarily exist to execute trades and safeguard deposits efficiently, and these core functions are what customers need and want.

All too often, substandard brokers throw together a hastily assembled collection of low-quality educational material, simply for the sake of trying to put across a good appearance. Happily, in the case of XM, the educational and research offering is there because it is worthwhile.

Research is offered as news and analysis on key markets and relevant geopolitical developments, including technical analysis performed on selected price charts. Forex, commodities, and stocks are covered.

In the XM learning center, subsections are divided into live education, educational videos, forex webinars, platform tutorials, and forex seminars.

The educational rooms are live trading rooms which clients may enter and participate in and see live markets traded in real time. Most of them are open for eight hours continuously on weekdays, which is extremely impressive. Seven educational videos on a range of common forex trading topics are also present in their relevant subsection.

Account holders can benefit from weekly webinars in 13 different languages including arabic, bengali, indonesian, polish and others given by 18 expert instructors whose pictures are presented on the site.

The list of video tutorials seems endless and cover topics as basic as how to open a forex account to how to use a MT4 droid pad on the mobile trader app.

Upcoming XM workshops and seminars are listed as are ones that have already taken place.

In addition, their economic calendar posts any upcoming events taking place in markets throughout the world.

There are market reviews, a forex news report and technical analysis that appear daily.

A selection of trading tools are also offered, in addition to free forex signals and forex calculators.

Customer support

Most traders will never use their broker’s customer support service beyond the occasional query for clarification of the trading terms offered. Still, its good to know that if you do need the help desk, you will be dealt with promptly and helpfully.

XM’s customer support has a good reputation, partly because it is offered in a wide variety of languages with dedicated native speakers offering support to clients in their own language.

The XM customer support desk is available 24 hours a day, from monday to friday – the same time period over which the markets are open. Representatives speak english, greek, japanese, chinese, bahasa malay, bahasa indonesia, hungarian, russian, french, spanish, italian, german, polish, hindi, arabic, korean, portuguese, czech, slovakian, bulgarian, romanian and dutch.

Traders can contact a rep at different departments in several international locations via email of telephone. Live chat is also available.

Bonuses and promotions

Free VPS for clients who maintain a balance (equity-credit) USD 5,000 or currency equivalent.

$30 non-deposit trading bonus for new clients only.

The two-tier deposit bonus offers 50% deposit bonus up to $500 and 20% deposit bonus up to $5,000.

The XM loyalty program offers the clients XM points (XMP) per lot traded. These XMP can be redeemed at any time for credit bonus which can be used for trading purposes only.

*trading bonuses and loyalty program are not eligible for clients registered under the EU regulated entity of the group

Opening an account

The account opening process with XM is relatively quick and painless. You can expect to get your account open and ready on the same day that you begin the account opening process. Clients only need to navigate through a couple of web screens where they submit a few details and choose the type of account they want to sign up for.

It is worth noting that residents of the U.S.A. And a few other extremely regulated jurisdictions are not accepted as new clients by XM.

In addition to providing personal and account details, new clients are required to verify their ID and proof of residency by way of utility bills or bank statements. Proof of ID may be verified by providing an official national identity card, passport, or driver license. Images can be uploaded for verification and response times are very quick.

Deposits and withdrawals

At XM there is no minimum deposit required. However, system restrictions limit the minimum deposit amount to $5 for electronic funding such as moneybookers, skrill and neteller as well as credit cards and bank wire transfers. Moneygrams and western union payments are also accepted.

Withdrawals can be made using the same methods. In fact, the deposit and withdrawal options are listed side by side on the website and a trader needs only click on “make a deposit” or “request a withdrawal” in order to make a transaction.

Withdrawals via bank-wire of amounts under $200 are subject to a $15 administration fee. While this is not completely uncommon, it is a little unusual and smaller depositors should consider whether they will be able to plan to sit tight and hope to grow their account to a level where this fee would not apply to any likely amount the client will wish to withdraw.

So, let's see, what we have: is XM a good forex broker? Read real reviews, by traders, for traders? Add your rating to the largest forex review database by forex peace army? At review xm