Updated reviews about XM trading point broker?

Broker Discussion Forex Brokers
1

First of all English is not my main language so excuse my grammar.
I’ve been using the search feature in here and in google to get some reviews and feedback, but after lot of research i’m not convinced of having enough information about this broker. I’ve been studying forex for almost 2 months now, using only demo accounts, and i was thinking on going real after some more practice with XM micro account, but after reading so many bad reviews about it i need to reconsider the options, but the reviews are from 2011 or older so many can change in 5 years.

Any of you have [B]updated[/B] information about this broker? I’m planning to trade with 5m/1h/4h time frames, having my transactions open from several hours to some days maximum (no scalping but no long term).
I’m from Mexico, looking for a broker with low minimum deposits ($10 USD maybe up to $50 USD) with few to no restrictions on Stop loss and take profit placement, with micro lots obviously.

The main complain I’ve read from XM is that after you start gaining profit, you will have many trouble trying to withdraw the money or even get support, is this true?

The other options i’m considering are:
FXTM (but i’m having problems with the S/L and T/P placement [maybe i’m using it wrong])
and
FXCM (but minimum deposit is $50 and i want to try with less money first)

Sorry if this have been asked several times, but information can vary from time to time.
THANKS YOU BEFOREHAND!

[B]Edited:[/B] after reading some more maybe i’ll go with FXCM with the $50 minimum deposit, but still want to know your experience with both XM and FXCM.

2

I think the big difference here is that FXCM is based in America and XM in EU. So there are different rules concerning FIFO (first in first out), hedging and leverage.

Also I think deposit/withdrawals with XM can be instant with Skrill or other e-money options when on the other side FXCM will ask for bank transfers.

So you should specifiy what kind is your trading style (scalping or long term) to have a clear opinion

EDIT: I traded myself with XM, and had no problem withdrawing multiple thousand $ = my-18000-XM-withdrawal - Free & Detailed Image Hosting

3

I won’t speak for other brokers, but to clarify regarding FXCM, we do offer Skrill deposits and withdrawals. We also offer instant deposits via credit/debit card though withdrawals back to your card may take a few business days to appear on your account, since the transaction is processed as a refund.

4

Hi Koutta,

I’m glad you are considering FXCM. You said you are from Mexico, and English is not your first language. I am happy to answer your questions in English, but please feel free to contact FXCM’s Spanish language support.

5

I have tried several brokers but XM is one of the best, at least for me in Malaysia. The withdraw is instant if I withdraw via my debit card/Skrill. As for wire I haven’t tried that yet.

6

I just posted in the other thread about my withdrawal. Basically I also had pretty good experience with Skrill, and for quite big amount too , here is a screenshot of almost 18 000$ withdrawal with XM = my-18000-XM-withdrawal - Free & Detailed Image Hosting