it would be better to complain to the ombudsman which is the AFCA who deals with retail client complaints, https://www.afca.org.au/, however, AFCA and ASIC will only deal with the issue if the client signed up to the ASIC regulated entity i.e. Vantage FX Australia and not an offshore entity.
I think it sounds more like rubbish customer service and that this has been missed internally at XM.COM rather than a scam, it can be better to work with smaller brokers who take a more personalised approach. Which entity in XM.COM did you sign up with? it may be best to get in touch with the...
Did IC Markets go into detail as to what the error was? is it because the product was pricing incorrectly and you had traded on a price lower vs the actual price of the underlying market? be interested to hear more as to what the error was.
Also, the swaps you are paying are pretty high. Please...
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