Unfortunately it’s not as simple as that.
XM is a group of separate companies some of which are properly regulated and others not.
As explained above by @SchmaltzHerring , people opening an account with XM need to be certain that the account is regulated in Australia or Cyprus (second choice) but definitely NOT in Belize or UAE, where the regulators can’t actually protect the customers.
The people with “XM problems” have accounts regulated in Belize or UAE.
It really is important for people to understand this clearly! The thread inked to below may help.