Featured On
A trader-filed complaint referenced FSC Ref: A7IGOC is currently under active investigation by the Belize Financial Services Commission — the regulator overseeing one of XM's operating entities. The complaint concerns an unresolved fund dispute the trader escalated after XM's support did not address it internally. As of this review, the case remains open with no published resolution.
XM Group was founded in 2009 and has grown into a global forex and CFD broker. Its main regulated entity operates under CySEC in Cyprus, a top-tier authority. For traders outside the EU, XM often routes business through offshore entities regulated by the FSC in Belize or Mauritius. This structure allows it to serve a wide international client base while keeping its European license separate from higher-risk jurisdictions.
Sudanese traders are typically routed to XM's offshore entity because Sudan lacks a local retail forex regulatory framework under the Central Bank of Sudan (CBOS). With no domestic licensing regime for online brokers, Sudanese clients fall outside CySEC's European passport. That means they deal with the Belize or Mauritius entity, where protections are lighter than under EU rules.
The regulatory score stays comparatively high at 4.0/5 because XM's CySEC license is real and actively supervised, and independent reviewer BrokerChooser still calls XM 'legit' with a clean track record. The score is marked down only for the active Belize FSC complaint (Ref A7IGOC). Complaint and resolution scores are low because 61% of withdrawal complaints remain unresolved after 30 days, and the lockout pattern shows a weak recovery process. A strong license does not guarantee strong dispute handling.
The most significant entry is the active regulatory escalation: FSC Ref A7IGOC, a formal complaint under investigation by Belize's regulator. That is more serious than routine withdrawal delays because it signals an unresolved fund dispute that a client felt compelled to take to the authority. Account lockouts and a reported full account deletion are also more severe than delay-only complaints, since they cut off access entirely. The disputed USDT deposit and NFP execution issues add to the pattern.
Independent fraud-monitoring reports have flagged "XM Saham Investment" as a separate, fraudulent operation suspected of misusing XM's name and branding to promote fake investment schemes on Facebook, Instagram, and Telegram. This is not XM Group — it is a clone impersonation scam that trades on a legitimate broker's reputation to mislead investors.
If you were contacted via social media with guaranteed-return promises using XM's name, this is very likely the clone scam, not the real broker. Always verify you're on XM's official domain and never send funds based on a social-media investment pitch.
| Entity | Regulator | Tier | Protection |
|---|---|---|---|
| XM Group (EU) Ltd | CySEC | Top-tier | ICF up to €20,000 |
| Trading Point of Financial Instruments Ltd | FSC Belize | Offshore | No compensation scheme — site of the active complaint |
| XM Global Limited | FSC Mauritius | Offshore | No compensation scheme |
Sudanese traders are most likely assigned to XM's offshore entity regulated by the FSC Belize, since Sudan falls outside CySEC's European scope and XM uses Belize and Mauritius for non-EU clients. That entity is the one connected to the active FSC complaint. It is not the CySEC-regulated European arm, so the stronger EU protections do not automatically apply to Sudanese accounts.
The protection gap matters. Under CySEC, clients have access to investor compensation schemes and stricter conduct rules. Under the Belize FSC, oversight is lighter and there is no comparable compensation fund. For a Sudanese trader, this means the same brand name can offer very different safeguards depending on which entity holds the account.
The documented pattern is account lockouts after 2FA or email problems, with no clear recovery path — described as 'one strike and you're out.' At least one report describes full account deletion after a dispute. For a Sudanese trader relying on email or phone verification, a lost SIM or inaccessible inbox can trigger a lockout that proves difficult to reverse, especially with cross-border support delays.
If you lose access, act quickly and keep evidence: screenshots, emails, and transaction records. Contact XM support in writing and request a written explanation. If unresolved, you can escalate to the Belize FSC, citing the active complaint reference as context. Avoid paying any third party who claims they can recover your account for a fee — that is a common follow-up scam.
Not every independent source frames XM this negatively. BrokerChooser, a professional broker-review site that states it tracks 40,000+ brokers, currently assesses XM as "a legit broker" with "a clean track record" and "no major incidents," based on its regulatory tier and testing. We're including this for balance: reasonable, independent assessors can reach a more favorable overall conclusion than this file does — our file weights the active regulatory complaint and account-lockout pattern more heavily than a general safety assessment would.
| Broker | Regulatory | Complaint Severity | Resolution |
|---|---|---|---|
| XM Group | 4 | 1.3 | 2 |
| Pepperstone | 4.9 | 4.5 | 4.6 |
| IC Markets | 4.6 | 4.1 | 4.3 |
For Sudanese traders, XM Group is a legitimate, long-established broker with real CySEC regulation and a generally clean independent review. The file's concerns are not about theft or fake licenses. They are about dispute handling: an active Belize FSC complaint (Ref A7IGOC), 61% of withdrawal complaints unresolved after 30 days, and a lockout pattern with no reliable recovery. The regulatory score stays high, but complaint and resolution scores are low. Weigh the strong license against the weak after-sale process.
If you trade with XM from Sudan, use the entity you can verify, keep your account email and 2FA device secure, and document every deposit and withdrawal. Start with smaller amounts until you have tested the withdrawal process. If a dispute arises, escalate in writing and consider the Belize FSC. Be aware that 'XM Saham Investment' is a separate clone scam, not XM Group — verify any social media contact before sending funds.