XM Review Scores
XM
www.xm.com/
Overall Score: 2.9 / 5
Total Votes: 115
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XM Discussion
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a2xm

Member Since Mar 20, 2010  17 posts a2xm Mar 02 2011 at 06:00
anyone using this broker? could you please share your experiences? any slippages, re-quotes, disconnected, long withdrawal times, etc..

thanks..

Trade What You See !
huitailang

Member Since Mar 30, 2010  13 posts 灰太狼 (huitailang) Mar 16 2011 at 13:56
They doing some major working mistakes and mannered service.

1. On Feb 18, 2011, I opened an live account for forex trading in this company, the account manager is very friendly with me, but when I deposit the money to my account, they attitude chang very cold to me, I sent several email to confirm some account information, they didn't reply to me anymore.
2. When I start to trading, I usually ask my account manager for sth, and the another account manager told me he is not available, either in meeting or go out for doing other things, anyway I could not contact my account manager till now.
3. Their platform not send the Daily Confirmation email to me and they promise they will after I open the live account indeed. I ask they to send this email everyday, they said already sent, but I am still not received, my email spam folder is empty and not set any blacklist, moreover I replaced another email address, but still not received it.
4. On March 8, 2011, I sent a withdraw request, but until the March 14, I still not receive the money, I ask them to sent me the bank wire receipt, I found the Beneficiary Name is actually wrong! One of the letter should be 'i', they write it to 'l', so the money delay more than 2 days.

I already sent the Complaint Letter to FSA UK and CySEC, I wish these things to remined us to keep this broker away and the regulator organization really do sth to punish this kind of company! And strengthen the verify process, not permit these scam to authorised.
 

Chris_Zacharia

Member Since Mar 25, 2011  4 posts Chris_Zacharia Mar 25 2011 at 14:06
Christian A Zacharia, representative of Trading Point of Financial Instruments

Dear Mr/Mrs Rick

After closely reviewing your post under our brokerage rating I have taken the time to very closely cross reference all the information which you disclose in the above “review” to protect the reputation of Trading Point of Financial Instruments.
Please note the following very carefully:

1. The name or “nickname” attached to your post does not match any of our records as a client of Trading Point.
2. No withdraws by Bank Wire seem to have been requested during the period mentioned above.
3. Moreover No Withdraws through Bank Transfer have been requested with any misspelling what s o ever in the record of the company since its foundation.
4. Daily reports are sent to all customers regardless if they have filed a request or not; its part of an automated procedure carried out by the MT4 which is our trading platform.
5. Account Managers to do not attend any meetings what so ever during business hours; all meetings are held after normal business hours.

It is with great sadness that I have to be convinced that this is a misleading message from competition and/or a fraudulent client whose account has been terminated due to illegal activities either in regards with trading or payment;
However in the case that the author of the review may feel that there is even the slight possibility that my research and investigation is mistaken I encourage him to provide me his MT4 ID Number in order for me to officially address the issue to ensure transparency and follow up.

For any response, correspondence or clarifications in regards to this issue please contact me at the telephone number below:
+357 25 02 99 20

Christian A Zacharia in behalf of Trading Point of Financial Instruments
Trading Point of Financial Instruments Ltd.
Regulated by the Cyprus Securities and Exchange Commission (CySEC) - Licence Number 120/10 Registered with FSA UK 538324
12, Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus | Phone: +357 25029900, Fax: +357 25820344

eastwood

Member Since Mar 29, 2011  1 posts eastwood Mar 29 2011 at 03:04
Great Broker! Great service, Great execution and best of all for me is the great care they take of their clients through chat. Their chat service has been very helpful and a Mr. Costas K. from the chat has explained to me what so many other brokers had failed to clarify for me with regards to margin and the bid and ask prices and their implication when closing or opening an order; most essential of all is that he explained to me that the MT4 candle sticks only reflect the Bid price and as such when closing a sell order through a TP/SL it is the Ask price I must look at. I cannot begin to mention the number of times I thought that I was wrongfully stopped out on a sell order, as it is the bid prices that are reflected on the MT4 platform and when I asked other brokers about this they did not properly explain things to me.

oddpip

Member Since Mar 15, 2011  3 posts oddpip Mar 29 2011 at 14:32
I am having a very good impression of this broker:

Micro accounts,
no minimum deposit,
accept deposits with PayPal,
20% & 10% bonuses on deposits,
personally welcoming (!)
1:500 leverage
low spread,
fast and detailed data stream (graphics) (compared to other brokers)
fast execution,
no requotes,
Expert Advisors allowed
Scalping allowed

ChrisK

Member Since Mar 29, 2011  1 posts ChrisK Mar 29 2011 at 21:07
I have an account with 3 brokers including Trading Point. They do have a lot of great advantages and offer a nice bonus scheme for all deposits which I find quite appealing. I also have 2 other accounts with other brokers for the fact that I like to be with and ECN broker and also one that offers a web based platform – 2 things that I did not find from Trading Point; nevertheless they do offer extremely fast execution and the fact that they advertise a No re-quote policy was what convinced me to open an account in the first place as for me this is extremely important as I like to trade during news hours and have had bad experiences in the past with re-quotes.

Overall I have had no troubles so far with Trading Point, have been trading since December, simply for the fact that I can trade the news with peace of mind of no re-quotes and when I asked for a withdrawal the process was efficient enough. They fulfill the three things I look for in a broker, which are: regulation, no re-quotes and 24/5 customer support.

farid059

Member Since Nov 17, 2009  3 posts farid059 Aug 29 2011 at 14:12 (edited Aug 29 2011 at 14:13 )
I opened 2 accounts today, one for my father and one for myself. I received excellent service from Diana Munoz. Following her phone call, she guided me through the entire account activation procedure via the chat facility and a couple of hours later the accounts were opened and funded.

Some misleading information on the website however; There is a PDF file which states that you fill it in, print it, sign it, scan it and email it. You no longer have to do this as you can make the whole application online and email it straight back along with supporting documents.

Also, they no longer accept Paypal.

In the last six weeks I have been running tests on demo accounts on 8 well known brokers. I'm using my personal EA and identical settings on all and started exactly at the same time. Trading Points has by far outrun the other 7 in speed of execution and profitability.

jbmaverick

Member Since Oct 11, 2010  1 posts jbmaverick Sep 23 2011 at 19:54
I've only been with Trading Point for a few months (I opened an account with them after FXCM UK kicked loose all its U.S. clients), but so far I'm very happy with them, haven't had any problems at all. Generally good spreads - certainly for the major pairs anyway; orders usually go right through without requotes; no problems with running EA's (although honestly, I don't use them very often); customer service timely and helpful.

less

Member Since Oct 12, 2011  1 posts less Oct 13 2011 at 02:58
I have used them for about 8 months now, and have had no issues with them, would recommend them to anyone..

keep it simple..
lordoftruth

Member Since Nov 16, 2011  1 posts lordoftruth Nov 16 2011 at 14:45
I have used this broker since the start start
Why Trading Point??
Have been using this brokerage for about 8 months now, very friendly staff. Haven\'t encountered any problems yet, great for scalping.
Great service, great trade execution so far. The MT4 platform is super fast. Best i\'ve used. All orders big and small instantly filled no delays. They have no minimum SL/TP levels which works well for my scalping and EA\'s
Forex trading with no minimum deposit, tight spreads as low as 1 pip, leverage up to 1:500 and Trading Point's unparalleled service.

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