Loocai
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Hello dear members,
My situation is the following:
I opened an account last year on the trading platform XM. Eventually, I made a deposit of 1,000 USD and started to trade, taking the risks I desired to take. XM promptly closed my account and sent me this message:
"
Dear Sir/Madam,
We are writing to you regarding your account(s) no. 18245900 (hereinafter “your Account(s)”) held with our Company.
Our Anti-Fraud Department has brought to our attention that the trading patterns in your account(s) raise serious concerns, namely that this / these account(s) was / were being used for ‘arbitrage’ activities.
Pursuant to the Terms and Conditions of Business, such activities are being qualified as fraudulent.
Accordingly, and due to the above violation, we have decided, with immediate effect to:
- close all of your trading account(s);
- cancel any and all profits or losses garnered in your trading account(s);
Consequently, we kindly ask you to submit a withdrawal request for your remaining balance through the Withdrawals Section of our Members Area and this shall be processed accordingly. If no withdrawal request is received within the next 48 hours, your funds will be sent back to the same source initially used to fund your account(s)..."
As you can see, since my account was closed due to a trading activity that they consider "arbitrage", my deposit should have been given back, regardless of weather it was a profitable position or not. However, this has never happened. They closed my account and haven't given me back my own investment. I tried to talk to them many times and all I got were generic answers.
My purpose is making this post is to find a resolution to my problem as they have not complied with their own terms while I have been sanctioned at their own discreton.
Thanks and would appreciate any help,
Regards,
My situation is the following:
I opened an account last year on the trading platform XM. Eventually, I made a deposit of 1,000 USD and started to trade, taking the risks I desired to take. XM promptly closed my account and sent me this message:
"
Dear Sir/Madam,
We are writing to you regarding your account(s) no. 18245900 (hereinafter “your Account(s)”) held with our Company.
Our Anti-Fraud Department has brought to our attention that the trading patterns in your account(s) raise serious concerns, namely that this / these account(s) was / were being used for ‘arbitrage’ activities.
Pursuant to the Terms and Conditions of Business, such activities are being qualified as fraudulent.
Accordingly, and due to the above violation, we have decided, with immediate effect to:
- close all of your trading account(s);
- cancel any and all profits or losses garnered in your trading account(s);
Consequently, we kindly ask you to submit a withdrawal request for your remaining balance through the Withdrawals Section of our Members Area and this shall be processed accordingly. If no withdrawal request is received within the next 48 hours, your funds will be sent back to the same source initially used to fund your account(s)..."
As you can see, since my account was closed due to a trading activity that they consider "arbitrage", my deposit should have been given back, regardless of weather it was a profitable position or not. However, this has never happened. They closed my account and haven't given me back my own investment. I tried to talk to them many times and all I got were generic answers.
My purpose is making this post is to find a resolution to my problem as they have not complied with their own terms while I have been sanctioned at their own discreton.
Thanks and would appreciate any help,
Regards,