XM become a scam broker in 2020? Bad rating on Trustpilot and Forexpeacearmy

Previously I have reviewed about XM broker. Where I once said that XM is a very popular broker.

Currently, only Alexa rank (a website that ranks the popularity of a site), XM broker is in the range of 2 thousand. That includes "crazy" because of big brokers like Oanda, Alexarank is only around 4 thousand.

Why is XM so popular? In my opinion, yes, because XM has many promos and can also reach all groups, including retail traders with small capital.
XM becomes a scam broker in 2020
XM becomes a scam broker in 2020?
This XM is my first broker since I knew forex because in this broker I can trade with small capital.

Well, lately I tried trading again in this broker but I was very disappointed with the incident that I experienced.

The short story is like this:

  • I hedged on a position, where the initial position before I did hedging is the Buy position in the pair XAUUSD.
  • Well, because of the wrong position I then took hedging where I Sell in XAUUSD pairs with the same number of lots.
  • The position ran for several days without any problems because my swap, margin and equity costs were strong.
  • Well, my disappointment is when I will close one of the positions where when I close a Sell position that is already profitable, strangely my Buy position is also automatically closed.
  • Events like this are the first events I used hedging in XM, or indeed hedging like that huh? In closing one of the automatic positions is the floating position minus the automatic closing?

I am confused by myself whether hedging is like that because when I trade with another broker I have tried, namely at the broker: Exness, Oanda, Rakuten Securities Australia, XTB and Tickmill. When I do hedging if one position is closed, the position that is floating is minus but open.

I have tried several brokers but this incident only happened at XM brokerage where the position was closed automatically.

Honestly, I was very surprised with XM in 2020, because I felt disadvantaged trading in this broker, I then looked at the XM review.

And it turns out that many reviews on XM today are not as good as before. Many negative comments on this broker, whereas previously XM's comments were good (including I also think this broker is Good and can be trusted even though it operates by Market Maker).

Here are some comments that I screenshot from the forexpeacearmy.com:
xm become a scam broker

fake islamic account XM

XM scam not pay withdaw

XM market manipulation

That is some of the latest comments from XM, where most of the beginning of 2020 there are many bad comments for XM.

The rating from the Trustpilot.com website is also low for XM, where XM only gets less than 3 stars.
XM Trustpilot rating

I already know that XM is a Market Maker type broker but I also feel the trading conditions in this broker like never before. 

Oh, I have a question that for swap is charged when the position is staying for one day or the time has been determined?

When I use XM, the swap is charged even though my position hasn't stayed for one day. But when I use another broker, for example at Tickmill, Exness, and XTB as far as I know the swap is charged when the position has been staying for one day.

Honestly, I'm very confused with this XM. When trading there are strange things that happen that can't be expressed in words.

For the regulation of the XM dealer, is it really regulated by FCA, CySEC, ASIC?

Enough so this time, the point is I just want to say if, at the beginning of 2020, I'm very disappointed with the trading conditions at XM. I feel there is some manipulation.

I do not intend to denigrate this broker. So I will not discuss more deeply. The point is I just want to remind traders to be more careful with this broker because trading conditions in this broker are not as good as conditions a few years ago.

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