XM Defi (Imposter) has been flagged by Financial Markets Authority for "Registered/Licensed entity impersonators|Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Where do I even begin with XM Defi (Imposter)? for about five months of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Real-time alerts|Portfolio tracking tools
Cons: Would like more payment methods|No phone support on weekends
Tried to withdraw my funds from XM Defi (Imposter) and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Professional looking website
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
XM Defi (Imposter) locked my account without warning and demanded documents I had already submitted. for the past year and a half later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Tax reports included|Educational resources
Cons: Website design could be more modern|No phone support on weekends
I lost a significant amount because XM Defi (Imposter) did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Responsive team|Full transparency|Excellent charting
Cons: Slow to add new assets|Help articles are sometimes vague
After spending for roughly four months trying to make XM Defi (Imposter) work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Dedicated account manager|Easy withdrawals
Cons: Nothing significant|No crypto staking
The platform at XM Defi (Imposter) is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for about ten months of dealing with this, I have had enough.
Pros: Multi-device support|Fast execution|Automated trading options
Cons: Inactivity fee applies after 12 months|Minimum deposit could be lower
Customer support at XM Defi (Imposter) seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Dividend tracking|Social trading features|Transparent fees
Cons: No live chat on mobile
Do not be fooled by the professional-looking website. Behind the scenes, XM Defi (Imposter) is disorganized and incompetent. I found them while looking for alternatives to my previous provider and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Comprehensive tools|Clear documentation
Cons: Would like more payment methods
The mobile app from XM Defi (Imposter) is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Comprehensive tools|Competitive fees|API access
Cons: No phone support on weekends|No live chat on mobile
XM Defi (Imposter) seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Personal attention|Multi-currency support
Cons: Limited ETF selection