Need your opinion on broker, saw scam accusations

I dug a little on XM broker and keep going back and forth on it, can’t decide yet to open an account here. On paper it looks fine: regulated and working since 2009. But when I search for reviews to check their reputation I keep bumping into people calling XM scam, mostly around withdrawals and issues related to the deposit bonus.
A few specific things I'd like to hear, if anyone is willing to share:
- Withdrawals: are they processed, any red flags here?
- The bonus: is it worth taking or better to skip it?
- Does the fact that broker has CySEC license is enough to say it’s legit?
Planning to start small, maybe $300, just to test it before committing more. Would appreciate hearing from people with real experience before I pull the trigger

I think Trustpilot and forum reviews are useful, I usually filter by most recent, and prioritize reading the negative ones to see what the common issues are and how the broker responds to them. In addition, opinions from real users on forums are also worth considering

On the bonus, deposit bonuses usually come with high volume requirements before you can withdraw anything. With a $300 account, it's more likely to lock your funds than actually help

Although CySEC is tier 2, lower than FCA or ASIC on client fund protection and enforcement, but it's still regulated. For $300 to test the waters, that's not a dealbreaker, just read the withdrawal terms carefully before you deposit.

I suggest you look for references that support your position so you can reach the right conclusion. I recommend a broker where you know the people behind the company, so that if any problems arise, you can contact them and avoid such situations.

I went through the same, even googled "xm scam" more times than I'd like to admit. the negative stuff I found is similar to what you have already noticed, it’s mostly about the deposit bonus conditions and disappointments from the terms and conditions.
On the bonus specifically, skip it! I took it on my first deposit and didn't fully clock the volume requirements attached. Didn't lose my money or anything, but I couldn't withdraw profits until I hit the threshold, which took longer than expected. Another benefit of not taking the bonus is that you don’t need to stick with the standard account where the spreads are wider. And for someone starting with $300, i woul say it doesn’t worth the friction, objectively..
CySEC regulation is indeed a strong signal for legitimacy, but you should be aware that this applies only to EU countries, so if you are outside that region, you likely will use an entity with different licence, likely the one from Belize which is not as strong as cysec.