XM.COM start scam for the clients.

Dwas1936

Recruit
Messages
7
Hello;

First time I uploaded my documents, and they next day validated my documents.
After I made deposit more £ 1000, then I got email from Compliance Departement asking to send documents via postal.

Dear Valued Client,

As per our Anti Money Laundering (AML) and Know Your Customer (KYC) procedures, please note that we will require the following original documentation to be sent to us :
  1. Notarised copy of passport.
  2. Certified true copy of recent utility bill (no more than three months old.)
  3. Original Bank Reference Letter including your passport/ID number, full address and date of bank account opening.
Please note that the above should be certified as true copies of the originals by any of the following:
  • Notary public
  • Qualified practicing lawyers
  • Bank
The above documents shall need to be sent to the following address:

XM Compliance Department
12 Richard & Verengaria Street
Araouzos Castle Court, 3rd Floor
3042 Limassol, Cyprus
Please note that any withdrawal requests will remain pending until we will receive the above requested documentation.

We hope you can appreciate that as a regulated entity we must follow procedures set down by the Company so that we abide by the directives and laws of our Regulator.

Kind Regards,
XM Compliance


XM Team
Compliance Department
t: +357 25 029900
f: +357 25 820344
e:
compliance.department@xm.com
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Looks like as long as you don't make profits and ask for withdrawals, your documents are okay and your trading account is activated without further question to their authenticity.
BUT as soon as you make profits and ask for withdrawal, your documents suddenly become suspect.

...hmmm...seems like XM.com does not like their client making profits and withdrawing money.

Broker(s) who are genuinely concern with authenticating documents DO NOT ALLOW their client to trade UNTIL they have received ALL the required documents and are satisfied with their authenticity.

Brokers who accepted deposit money and allow their client to trade their trading account and ONLY question the documents authenticity AFTER the client has made profits and ask for withdrawal is MAKING that as an excuse NOT TO ALLOW or TO WITHHOLD their clients money. That is unethical practice and sure sign that the broker is untrustworthy.
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Dear Dwas1936,

You have left a claim without sharing your MT4 ID. I kindly ask you to follow up with your MT4 ID to initiate an investigation and transparently present the full data of your claims.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
 
Dear Dwas1936,

You have left a claim without sharing your MT4 ID. I kindly ask you to follow up with your MT4 ID to initiate an investigation and transparently present the full data of your claims.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)

Dear,

MT4 ID sent, check your inbox.
 
Dear Dwas1936

You might be aware that nowadays financial institutions, such as ours, are required to follow strict KYC and AML procedures and are obliged to take additional measures upon detection of activities that raise legitimate concerns in order to ensure that transactions performed are in line with financial regulations.

The reason why you have been requested to submit additional documents is because of your depositing/withdrawing patterns. You have performed 30 Paysafe Card deposits over the course of 1 month and at the end of the month you requested to withdraw all the funds to you ewallet account with no significant trading during this month. The documents you initially sent us are satisfactory, however your further activity prompted us to initiate are a more detailed check of your identity as prescribed by AML guidelines.

I would like to assure you that is not our intent to trouble you by delaying the payment and we will be happy to process it upon receipt of the requested documents.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
 
Dear Dwas1936

You might be aware that nowadays financial institutions, such as ours, are required to follow strict KYC and AML procedures and are obliged to take additional measures upon detection of activities that raise legitimate concerns in order to ensure that transactions performed are in line with financial regulations.

Dear, Don't worry, I will reply to all your questions, Because we must aware every client.
To try scam every one, sure you will have strict procedures for the clients. and you will say example; KYC, and AML procedures. and are obliged to take additional measures to trouble your clients. That's simply.


The reason why you have been requested to submit additional documents is because of your depositing/withdrawing patterns. You have performed 30 Paysafe Card deposits over the course of 1 month and at the end of the month you requested to withdraw all the funds to you ewallet account with no significant trading during this month. The documents you initially sent us are satisfactory, however your further activity prompted us to initiate are a more detailed check of your identity as prescribed by AML guidelines.

And one thing about my 30 Paysafe Card deposits, I think you didn't know more about Paysafe card vouchers.
It is available in these amounts: 10, 25, 50, 75 or 100 GBP, Tell me how can i fund my account until £ 1500 with that values?


It's very funny, you posted it, on option of funding method, and you don't know details about it.
And at the end of the month, I don't have right to do a withdraw all funds to my ewallet account ?


And I've lost arround £ 100, and they saying no significant trading during this month.
I think they want from me lose arround £ 500 more, to you will get happy from your side.

You said "The documents you initially sent us are satisfactory";
Then what you will do by these documents ? Then I sent it for what ?
I think you will playing with it and remove it.


I would like to assure you that is not our intent to trouble you by delaying the payment and we will be happy to process it upon receipt of the requested documents.

Again, I would like to must every client know XM, you'll get the same email any time, and they will trouble you .

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
 
We are waiting reply from him.

Dear Dwas1936,

We have not received certified copies of your documents yet.

I kindly ask you to send them as soon as possible so we could process your withdrawal request.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
 
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