XM is Scam Broker

[pelo-keran]

Dear tudoan,

Bonus does not have to do anything with our decision to terminate your trading account The problem is that hedged positions were opened minutes before the NFP release to take advantage of sharp price movements and our favorable trading conditions (negative balance protection, fast execution, and high leverage). This allowed you to generate abnormal and almost risk-free profit that after the internal investigation was considered as invalid.

In the email conversation with me, you denied having opposite position and that you are unaware of the opposite position in the second account but later you said friends have access to your account and that they could have copied your trade. Later, you have finally admitted that the owner of the second account is your friend.

This, coupled with the fact that you were asking our customer support prior to enraging in activities that can be considered as fraudulent, clearly indicates that hedged position were opened not in the course of normal trading activity, but to exploit company's trading facility and you well aware of the opposite position in your friend's account.

Kind regards,
Andrey

Hello there
I can unfortunatelly see that you are having a lack of seriousness. First this:

Carol P. – Official Representative of XM (Trading Point of Financial Instruments Ltd).
on XM | Trading Point | XEM Forex Brokers Reviews | Forex Peace Army - Page 4

extract: "However after more than 6 months you opened another account, and by law we are obliged to verify your account again. You have re-allocated to Egypt (and you gave us different excuses for your move)"

That is ridiculous, to say the least, from a representative of a company supposed to do multi-million business. So, I first thought I would fill a complain on your web page for that person (Carol P), but then, I came across the page of your management team

Management Team

So, I finally gave up

Good luck with your business, I guess you will need it - for how long are you going to post excuses and get away with the money people have made, on a supposed STP execution you are oferring? We will see

 

[tudoan]

lets do the police report to cypus police and also make a complain to CYSEC, you may do it before XM take another action

Do you have email of XM CEO ?

 

[weinghong]

Do you have email of XM CEO ?

tp@xm.com Mr.Tasos Director of Trading Point

 

[tudoan]

Did anyone reveive information after complain from CYSEC and how long they will reply ?
After I had some argument with them and showed evidences they provided. XM said that they assumed that the information they provided that allow hedging on 2 accounts belong to me. What is difference between hedging with 2 accounts belong to me and one my account & another account ?
It's funny.

 

[LoRio]

Is XM the MM until the account goes above 1000$ ?

I wont even dare call XM a scam . Far from it.
But it seems , with many brokers , that its one of those cases where customer protection works against the customer.

I will make a stand not with tudoan nor XM,but with profit.
Risky profit , is still profit coming from trading.

I will say nomore , but i would really like to see an explanation of how exactly OP traded the risk event(tudoan if you have time id appreciate a breakdown of your approach) , and what deems it unethical (if XM can elaborate on that as well.)

 

[lordoftruth]

To File a Complaint.. Read
http://www.xm.com/assets/pdf/forms/XM_Complaints.pdf

 

[LuciferHimself]

So XM just lost another trader and thats me The excuses by XM are ridiculous in my opinion unless Im missing something. But definitely I wont be trading with XM after reading this thread.

 

[undertaker]

XM was a good broker, recently too many cases in FPA and I don't think this is a good broker anymore.