FXTM refused to take responsibility after causing customer loss

liam9587

Private
Messages
21
At 03.31am UTC/GMT+7, November 16th 2016, I deposited US$400 into my FXTM account, and I've got a sms notification from HSBC for that transaction as proof of time the bank processes that transaction.
15174677_1508185912531351_1794085182_n.jpg
Mysteriously that transaction has stayed pending until 08:00pm UTC/GMT+7 same day at FXTM, after got home from office I was very shock knowing my transaction status stayed pending from early morning until that moment and I immediately reported to live chat person about that problem, if not so, I believe my account would have been wiped out with that kind of service. That unacceptable processing time of the transaction has costed me US$2273 with total 3 positions been stopped out at 09:24:43am; 09:24:46am; and 09:29:40am system time same day.
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All of them are USDJPY pair with sell position, from 09:24:43am to 01:10:00pm system time that pair went up for approximately 57 pips and then dropped 120 pips from that moment to 03:05:00am November 17th 2016, system time. I am sure that if my US$400 deposit was processed without 17 hours delay, my positions would have not stopped out with that price chart condition.
USDJPYM30.png
Here is the proof that I use the same credit card for 2 deposits next to each other, the previous one has been processed without any delay or verification, why the second one has?

all deposit.jpg

Below is the deposit number 669947 (the one they took 17 hours to process) deposit at 03.31am UTC/GMT+7, November 16th 2016. but look at the time in that transaction 03:11pm their local time, about 17 hours delay. Please pay attention to the credit card number starts with 445093 and ends with 1565.

400u.jpg
And here is the transaction I deposit right before the one got delayed above. It was on November 4th, 2016. Please scroll up and see in the above photo, these 2 deposits are just next to each other. Just same credit card number, this transaction did not required any verification and been processed right after 15 to 20 minutes

150u.jpg
They gave a ridiculous excuse for such a long processing time for my deposit, saying that they need to check verification and else, while the previous deposit right before this time, I've used the same credit card and it just took 15 minutes maximum to process the deposit into my FXTM account. Below is their reply to my enquiry:

"As a valued client of the Company, and following our fruitful collaboration so far, it should be noted that further to your active payment transaction activity, your previous transactions were executed with no undue delay as you mentioned already.


In this respect, the transaction was processed with a slight delay (slight delay in FXTM dictionary is 17 hours!!!), as the Company had to carry out additional verification. This is due to the fact that further to the examination of your previous transaction history, there were some issues (i.e. potential third party activity), and therefore the relevant departments took time to verify the transaction(BIG LIE, I've shown my transaction right before the one I got problem, same credit card, without delay and verification, so what and why verification needed for the one after???). Also, as we mention in our website here, deposits are processed instantly in case there is no need for additional verification.


We understand your frustration, but as mentioned before, the Company may process the transaction in more period of time in cases where more information or further verification is needed, and therefore you should arrange your trading schedule as well as your funds availability in advance in order to avoid any further complications/ margin calls. (I deposited 17 hours before the time my positions got stopped out, I guess they suggest customer to deposit 1 month before, perhaps?)


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FxMaster

Lt. Colonel
Messages
9,137
At 03.31am UTC/GMT+7, November 16th 2016, I deposited US$400 into my FXTM account, and I've got a sms notification from HSBC for that transaction as proof of time the bank processes that transaction.
View attachment 28731
Mysteriously that transaction has stayed pending until 08:00pm UTC/GMT+7 same day at FXTM, after got home from office I was very shock knowing my transaction status stayed pending from early morning until that moment and I immediately reported to live chat person about that problem, if not so, I believe my account would have been wiped out with that kind of service. That unacceptable processing time of the transaction has costed me US$2273 with total 3 positions been stopped out at 09:24:43am; 09:24:46am; and 09:29:40am system time same day.
View attachment 28732
All of them are USDJPY pair with sell position, from 09:24:43am to 01:10:00pm system time that pair went up for approximately 57 pips and then dropped 120 pips from that moment to 03:05:00am November 17th 2016, system time. I am sure that if my US$400 deposit was processed without 17 hours delay, my positions would have not stopped out with that price chart condition.
View attachment 28733
Here is the proof that I use the same credit card for 2 deposits next to each other, the previous one has been processed without any delay or verification, why the second one has?

View attachment 28734

Below is the deposit number 669947 (the one they took 17 hours to process) deposit at 03.31am UTC/GMT+7, November 16th 2016. but look at the time in that transaction 03:11pm their local time, about 17 hours delay. Please pay attention to the credit card number starts with 445093 and ends with 1565.

View attachment 28735
And here is the transaction I deposit right before the one got delayed above. It was on November 4th, 2016. Please scroll up and see in the above photo, these 2 deposits are just next to each other. Just same credit card number, this transaction did not required any verification and been processed right after 15 to 20 minutes

View attachment 28736
They gave a ridiculous excuse for such a long processing time for my deposit, saying that they need to check verification and else, while the previous deposit right before this time, I've used the same credit card and it just took 15 minutes maximum to process the deposit into my FXTM account. Below is their reply to my enquiry:

"As a valued client of the Company, and following our fruitful collaboration so far, it should be noted that further to your active payment transaction activity, your previous transactions were executed with no undue delay as you mentioned already.


In this respect, the transaction was processed with a slight delay (slight delay in FXTM dictionary is 17 hours!!!), as the Company had to carry out additional verification. This is due to the fact that further to the examination of your previous transaction history, there were some issues (i.e. potential third party activity), and therefore the relevant departments took time to verify the transaction(BIG LIE, I've shown my transaction right before the one I got problem, same credit card, without delay and verification, so what and why verification needed for the one after???). Also, as we mention in our website here, deposits are processed instantly in case there is no need for additional verification.


We understand your frustration, but as mentioned before, the Company may process the transaction in more period of time in cases where more information or further verification is needed, and therefore you should arrange your trading schedule as well as your funds availability in advance in order to avoid any further complications/ margin calls. (I deposited 17 hours before the time my positions got stopped out, I guess they suggest customer to deposit 1 month before, perhaps?)


View attachment 28737
Two steps that you must follow

1st - Invite them to join this thread via email (Send email to every possible address).

2nd - Go to their website and invite them to here via Live Chat
 

liam9587

Private
Messages
21
Two steps that you must follow

1st - Invite them to join this thread via email (Send email to every possible address).

2nd - Go to their website and invite them to here via Live Chat
First step done, second step I will wait 'til Monday to have a live chat. Appreciate your help Captain.
 

xaviertansync

Recruit
Messages
9
I have no issue with FXTM deposit system though. As far as I concern, deposit is "instant" in FXTM. I was wondering, why the process took 12 hours to be processed?
 

snapped2002

Master Sergeant
Messages
255
In this respect, the transaction was processed with a slight delay (slight delay in FXTM dictionary is 17 hours!!!), as the Company had to carry out additional verification. This is due to the fact that further to the examination of your previous transaction history, there were some issues (i.e. potential third party activity), and therefore the relevant departments took time to verify the transaction(BIG LIE, I've shown my transaction right before the one I got problem, same credit card, without delay and verification, so what and why verification needed for the one after???). Also, as we mention in our website here, deposits are processed instantly in case there is no need for additional verification.
Just saying they were doing verification is NOT enough.
What was being verified and why was it needed this time and not last time.

This seems fishy to me.
We need to company to provide specific reasons.
 

liam9587

Private
Messages
21
I have no issue with FXTM deposit system though. As far as I concern, deposit is "instant" in FXTM. I was wondering, why the process took 12 hours to be processed?
Just like you, I have no complaint in the past, until I lost money and they denied their responsibility. Perhaps, it is not your turn yet.
 

liam9587

Private
Messages
21
FXTM offered to add an amount of tradable credit as the same as the amount that I've lost and I agree to take it as a solution for the case. highly appreciate the help from FPA. The case is solved.
 
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