Fraudulent activities by XM?

[klet1]

Hello all!


On my live account at XM happened a dubious incident which nearly killed my account!


I was trading with XM for about 2 months and it was good. I made some losses at first and the support was good. Questions were answered within a day. But not so after my trades were profitable.

I'm using an EA. My EA works like a martingale EA. The key function: It opens a new order with every new candle. So it depends on the Timeframe which is set.

Normally I trade in TF30.

Sometimes i switch to M1 to trigger a new Order and switch back to M30 to let it run. I did this on March 17th too.

After setting it to M30, suddenly the EA traded like it was in TF M1 and opened a order every minute. It took only a few hours to nearly wipe out my account.

Luckily I have screenshots which show that I was trading definitely in M30. I will attach one.

(It's not a topic of my EA setting. I know my EA.)


I checked the LogFile and find the following mistake:


0 11:12:39.722 LionofWS_Etzl_V2 EURJPYmicro,M1: initialized
2 11:12:39.971 LionofWS_Etzl_V2 EURJPYmicro,M1: open #20657495 buy 0.02 EURJPYmicro at 126.057 ok
2 11:12:40.112 LionofWS_Etzl_V2 EURJPYmicro,M1: modify #20657495 buy 0.02 EURJPYmicro at 126.057 sl: 0.000 tp: 126.127 ok
0 11:12:40.939 LionofWS_Etzl_V2 EURJPYmicro,M1: uninit reason 3
0 11:12:40.954 LionofWS_Etzl_V2 EURJPYmicro,M1: initialized


On the last line I set back the MT4 to M30, but it says "M1 initialized".

So in fact, M1 can't be initialized when it was already initialized! There should be M30!


So what's going on here?

I contacted my account manager of XM with this topic. First I didn't get an answer.

Then I got a mail which contained something which wasn't related to the problem.

Even on the second try...


This really seems like a fraudulent action of XM!

Does XM manipulate the signals to steal the money?


My Account Number: 13598680

I lost 525€ (incl. Bonus) at this incident!!

Does anyone experience something similar? What can I co?

Thanks for your help in advance.
Kind regards!

 

[XM]

Dear Klet,

I am sorry to hear about the issue you had with an EA.

Please note that EAs can only be enabled and initialized in the client terminal. Your logs clearly show that either you or somebody who had access to your PC started "LionofWS_Etzl_V2 EURJPYmicro,M1" EA, and this the only reasons why the EA traded according to M1 TF and not M30 as you expected.

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

 

[FxMaster]

Hello all!


On my live account at XM happened a dubious incident which nearly killed my account!


I was trading with XM for about 2 months and it was good. I made some losses at first and the support was good. Questions were answered within a day. But not so after my trades were profitable.

I'm using an EA. My EA works like a martingale EA. The key function: It opens a new order with every new candle. So it depends on the Timeframe which is set.

Normally I trade in TF30.

Sometimes i switch to M1 to trigger a new Order and switch back to M30 to let it run. I did this on March 17th too.

After setting it to M30, suddenly the EA traded like it was in TF M1 and opened a order every minute. It took only a few hours to nearly wipe out my account.

Luckily I have screenshots which show that I was trading definitely in M30. I will attach one.

(It's not a topic of my EA setting. I know my EA.)


I checked the LogFile and find the following mistake:


0 11:12:39.722 LionofWS_Etzl_V2 EURJPYmicro,M1: initialized
2 11:12:39.971 LionofWS_Etzl_V2 EURJPYmicro,M1: open #20657495 buy 0.02 EURJPYmicro at 126.057 ok
2 11:12:40.112 LionofWS_Etzl_V2 EURJPYmicro,M1: modify #20657495 buy 0.02 EURJPYmicro at 126.057 sl: 0.000 tp: 126.127 ok
0 11:12:40.939 LionofWS_Etzl_V2 EURJPYmicro,M1: uninit reason 3
0 11:12:40.954 LionofWS_Etzl_V2 EURJPYmicro,M1: initialized


On the last line I set back the MT4 to M30, but it says "M1 initialized".

So in fact, M1 can't be initialized when it was already initialized! There should be M30!


So what's going on here?

I contacted my account manager of XM with this topic. First I didn't get an answer.

Then I got a mail which contained something which wasn't related to the problem.

Even on the second try...


This really seems like a fraudulent action of XM!

Does XM manipulate the signals to steal the money?


My Account Number: 13598680

I lost 525€ (incl. Bonus) at this incident!!

Does anyone experience something similar? What can I co?

Thanks for your help in advance.
Kind regards!

View attachment 24637

So you got satisfied answer?

 

[klet1]

Thanks for your reply!


But this does not answer the problem. I'll explain it more in detail:

The EA does not set any TF. The TF is set manually by the user in the Metatrader.

After setting the TF the EA initialize this TF. Every EA does this procedure and records this in the Log-File.

This procedure worked hundreds of times with my personal EA before.

(Maybe there are EAs which can initialize a TF independent from the TF in the MT4. But mine doesn't)

In my case: I manually set the TF M30 11:12:40. So the EA should initialize TF M30. But it didn't in this case. It initialized TF M1 absolutely arbitrary.



So what happened? What's the reason for this?

And is it even possible to set the same TF twice as it happened from 11:12:39 to 11:12:40?

I think its not. So I mean I can set M1 as often as I won't. But it will initialize a new TF only when it's different from M1.

 

[XM]

Dear Klet1,

There can be dozens of reasons for it - ranging from technical errors to human errors. Perhaps there is an error in the code or EA has been set up incorrectly. The fact of the matter is that an EA could not have started by itself and somebody who had access to your PC and the trading platform must have started the EA or did something to trigger the EA that is trading on MT1 TF.

Please send the complete log file to support(at)xm.com, and our IT team might be able to help you in identifying the reason for this error.

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

 

[klet1]

Just sent the complete Log File! Hope you can solve the problem. I liked trading with XM until this strange incident.

I want to point out again that's basically not a problem of the EA. The wrong signal I had was a signal that the EA uses but it didn't prodcuce it.

The MT4 gives the signal after changing TF...

(And if the EA could change TF it wouldn't be in the LogFile i guess. I don't know.)

I think the problem should be clear now. If needed I can send older Log Files to compare and see that this is an abnormal happening.

Used the EA already for more than two months on a few brokers and never had such an issue.