XM
XM.com Representative
- Messages
- 51
I traded with XM for a few months and made a modest profit just shy of £1000.
I received an email telling me in no uncertain terms that I was exploiting their service by using latency trading! I have responded with a formal complaint and received another email repeating their previous accusations and offering no evidence or explanation whatsoever. I have worked really hard at getting my trading knowledge to this point and am disgusted that a broker like this can simply cancel profits on a whim, citing no evidence and expect clients to just walk away! Disgusting. absolutely disgusting. I've submitted a complaint to the OCA in Cyprus.
Dear Kirst1,
Following a thorough investigation of your trading account, it has been concluded that the transactions carried out in your account were aimed at exploiting price latency arbitrage opportunities on our Company’s trading platform and at taking advantage of the internet delays which do not reflect the market rates at the time your trades were executed. This was achieved through the use of artificial intelligence software that allowed you take advantage of inefficiencies in pricing.
We sent you a request asking to stop using this software but you have failed to comply and continued exhibit the same trading patterns that we consider to be abusive. At this point, we had no other option but to terminate your account.
Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)