XM Broker Review

From my personal experience, I strongly advise against using this brokerage. They denied my withdrawal request without providing any explanation, which felt like a scam. I will never engage with this brokerage again. Additionally, be cautious with their bonuses, as they make it impossible to withdraw any resulting profits.

I recently faced a distressing situation with this company. My account, which had accumulated a profit of $2,074, was suddenly blocked and deleted without any prior notice. Despite reaching out to them via email three times, their responses have been dismissive and unhelpful, directing me to refer to previous communications that I never received. My account number was 314196742, and my email is athuldeepu10@gmail.com. I urge them to stop these unfair practices and allow me access to my earnings.

I am incredibly frustrated and disheartened by my recent experience. I was ambitiously working to grow my initial £50 investment to £1000 and had successfully increased it to £400. However, today I encountered a significant setback. When I executed a trade on a forex pair, the position immediately showed a loss of £150, which only worsened. This situation has left me feeling extremely discouraged and upset. I strongly advise others to avoid using this broker due to its unfavorable spreads. I sincerely hope that XM addresses the financial loss I've incurred. Thank you.

As a Muslim investor, I was initially drawn to XM because they offered a swap-free account, which aligned with my beliefs. Excited about this opportunity, I signed up right away. However, after some time, I discovered that my account had been switched to a standard account without any notification, and I was charged swaps. When I reached out to customer service for clarification, I faced a frustrating 30-hour delay. Eventually, they accused me of "arbitrage," which I found completely unfounded. Disappointed and feeling deceived, I decided to withdraw all my funds and close my positions. I wouldn't recommend this service to others.

I recently had a disappointing experience with XM, where they canceled my profits and denied my withdrawal request. While they were quick to cancel the trades where I made a profit, they left the losing ones untouched. When I asked for a refund of my initial deposit, they refused. Although their 100% bonus offer seemed appealing at first, it came with the downside of having my profits nullified. I want to express my frustration and caution others about XM's practices, as they refused to pay me the $750 profit I earned. A reputable broker should have the financial stability to honor such payments. Trading with a company that doesn't fulfill its obligations seems pointless. I am not alone in this experience; many others have shared similar issues with XM on platforms like Trustpilot. Losing money is one thing, but my goal is to prevent others from falling into the same trap. I hope this review serves as a warning to potential investors. For context, the trade in question was during the Non-Farm Payroll release. XM accused me of arbitrage, but I never engaged in simultaneous trades on the same symbol across different accounts. After reviewing their terms and conditions, I found no clear rule against my actions. If XM wants to resolve this, they should consider reimbursing me the approximately $800 profit.

Trading with XM has been a pleasant experience. Getting started was straightforward, and they offer excellent educational resources that have helped me expand my knowledge. For those who are newer to trading, there's a copy trading feature that's quite beneficial, and the incentives are appealing as well. Overall, this broker seems to cater well to traders of all levels.

This broker offers a fascinating selection of trading platforms, including both MetaTrader 4 and 5, along with their own XM app. The interface is intuitive, allowing users to effortlessly move between different sections, place orders, and conduct thorough technical analyses. It's clear they've invested significant effort into creating a user-friendly experience.

One aspect of XM that I find particularly useful is the ability to select your preferred leverage for trading. Personally, I've opted for a 1:200 leverage ratio because I recognize that anything higher could introduce unwarranted risks to both my trades and my overall investment. My goal is to remain in the trading game for the long haul, so taking on excessive leverage just doesn't align with my strategy.

XM's customer service has been incredibly disappointing, marking the worst experience I've ever had. They seem ill-equipped to manage client issues effectively. I made a deposit into my account on December 3rd, yet by December 9th, the funds still hadn't appeared. I reached out to their support team via WhatsApp and spoke with an agent named Maryann. Instead of addressing my concern with urgency, she requested my personal bank statements for the account used for the deposit. I had already provided my bank account details along with a screenshot of the transaction, but this wasn't sufficient for them. Maryann insisted on having the bank statement, which I explained is only available at the end of the month. Her response was that they couldn't start investigating without it. This interaction with XM has been frustrating and lacks any sense of urgency. It's baffling that they offer a QR code for deposits that doesn't seem to work properly. I strongly advise against using this broker for trading. In contrast, my experience with Oanda was seamless, with funds reflecting in just an hour. XM needs to overhaul their system and hire competent staff if they wish to improve.

As someone with some experience in trading, I firmly believe that ongoing learning is essential for successful investing. Currently, I'm focusing on the technical analysis segment of a course offered by Tradepedia. I hope to maintain the patience needed to complete it and enhance my expertise. I genuinely appreciate XM for providing these educational resources.