GUILTY Case# 2013-043 | Daviden1 vs https://www.xpmarkets.com/

Based on the available evidence, do you believe that XPMarkets is guilty?

  • Guilty

    Votes: 136 98.6%
  • Not Guilty

    Votes: 2 1.4%

  • Total voters
    138
  • Poll closed .

Daviden1

Private
Messages
29
Original FPA Traders Court Submission:

I am submitting the case against: https://www.xpmarkets.com/

My Case is: First, I would like to thank you for the incredible help you give traders all over the world; this you offer is a priceless service.

My story:

I have join this company 20 of March 2013 depositing 200 dollars in order to try binary options for the first time.

I have received an automated email from XP Markets, which confirmed me the deposit.
After few days, since I could not see the withdraw tab in the website, I sent an email to the support team in order to clarify the withdrawal process; I have never (even today) received any reply from them.
Since I could not chat with the support team by email, I tried the online support, instead, but again, I had no success in chatting with an agent because nobody is ever online! In addition, I left about three messages that were completely ignored.

Finally, the 27 of March I received an automated e-mail asking me for a bunch of documents needed to verify my identity and credit card.
The same day I received the email, I replied and sent them the documents required and kept asking the same question about the withdrawal process, but no one answer.

After few more emails, I started to be suspicious of the company ethical behavior and so, I decided to withdraw the 200 dollars deposit with a request made the 29 of March… Today, this request is still in pending process (I have a snapshot of the request).

Their Terms and Conditions stated the following:
"5.2 Transfer:
"After online confirmation by the trader, www.xpmarkets.com will forward to his bank the amount to the benefit of the beneficiary within fourteen (14) working days following the withdrawal request.
Each repayment cannot be less than €200".

Since the condition for withdrawal state 14 days, I wanted to wait at least a week to see if my request would turn from pending to approve before contact them again.

As you can imagine, after a week my request was still in pending process, so, I emailed them again, but nothing happened.
I searched their website and I found two telephone numbers, UK and US numbers. I called both number and they did not work! The UK number +44 20 36 27 92 45 is mute, as there is no line connected to the number, and the US +1 313 3555536 just rings for eternity! (You can go ahead and try to call them).

I did not know what to do, so, I experimented something... I opened a new email with a different name (gabrie.lgarbo@hotmail.com) and registered to their company; As soon as I registered, an agent, (called Steve) replied to my email promising 100 to 150% bonus on deposit.

I told him I wanted to deposit 1000 dollars but I needed some financial advice; Steve, immediately, asked me for my mobile number to chat about it, and in less than 5 minutes, he called me! I immediately stormed on him, telling him who I really was and why the support team did not answer me, I asked him, also, to let me speak with a member of the support team, but just that day, the entire team was off... (How unlucky I am!).
Steve told me to leave him my details so to look into my case. I sent him an email with my details and he disappeared!

After that, I sent them the last email (to him and the support team) threatening them of legal action and the opening of a court case with you.
It was then, that another agent appeared from nowhere (called Allen); Allen asked me if I had sent the documents to support team and I replied forwarding the email with the documents I had sent to them... as Steve did, Allen disappeared for few days.

Then, after some other threatening emails from my side, the help of your agent Pharaoh and the submission of a SCAM alert in your website, Allen replied asking me for my bank details in order to wire my money into my account.

At the beginning I asked him why he wanted those, since I had requested a credit card withdrawal no a wire transfer; he replied that it was to speed the process up.
I was dubious, but since he told me that I would have received a proof of the wire and he would not charge me any fees, I provided him with the details he asked.

This happened Thursday April 11... Since then, I emailed him 7 times asking for confirmation of the wire or, at least, to tell me the date when he would do that; he still did not answer me, even though, I told him I would have file a court case with you.

Please, help me to recover my funds.

Thank you very much.

Davide G.

New thread in the Scam Alerts Folder:
  • http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/24582-xp-markets-scam-aware.html

Review is submitted by Davide Gisabella on 04/16/13

The company was first contacted about the issue on 04/04/13 the last contact was on 04/16/13

Details: The support Team never replied.

First Agent Steve never replied to me after the phone call.

Second Agent Allen:

Forwarded message ----------
From: Allen XPmarkets <allen@xpmarkets.com>
Date: Mon, Apr 8, 2013 at 12:31 PM
Subject: Re: Bonus
To: Steve XP Markets <steve@xpmarkets.com>


Did you send over the documents needed for your withdrawal ? The terms and conditions apply after you have sent over the needed documents to be able to release your money. You can read that as well in the terms and conditions.

Allen
------------------------------------------------------------------------
Allen XPmarkets (allen@xpmarkets.com)
4/09/13

Just because I am not answering you does not mean that I am ignoring you. Everything is set up and your money will be wired to you. I am not answering you because of these threats that you are making.
You can keep treating the company with lawyers and you tube and anything you want this is not going to solve anything, why Steve is not answering I do not know but I have answered and said that I am taking care of the issue.

You have a good day.
------------------------------------------------------------------------
Actions

Allen XPmarkets (allen@xpmarkets.com)
4/11/13

Please send me the information for the wire with your swift and iban code so I can take care of this personally,

Allen
------------------------------------------------------------------------
Allen XPmarkets (allen@xpmarkets.com)
4/11/13

who said anything about paying any fees if you want me to get the wire I can do that if you want to wait for finance please do
------------------------------------------------------------------------
Allen XPmarkets (allen@xpmarkets.com)
4/11/13

I can take of your withdrawal request by wiring you the money, all you have to do is send me the information for the wire. you will not be charged a cent because the first withdrawal is free every month.

If you not you can wait for finance to get in touch with you as I said before.or I can send you the wire for the amount you requested.
------------------------------------------------------------------------
Actions

Allen XPmarkets (allen@xpmarkets.com)
4/11/13

I will provide you with a proof of wire from the bank and it should take up too 3 days for the wire to be received by your bank and placed in your account as soon as I receive the details of your account i will forward it to managment so they make the wire and then the will send me the proof of wire
------------------------------------------------------------------------
This was his last reply so far!

Company representatives' emails: Unknown <support@xpmarkets.com>
Unknown <finance@xpmarkets.com>
Steve XPMarkets <steve@xpmarkets.com>
Allen XPMarkets <allen@xpmarkets.com>

 

Attachments

  • balance.PNG
    235 KB · Views: 0
  • My details.PNG
    29.5 KB · Views: 0
  • confirmation email.pdf
    193.3 KB · Views: 0

Pharaoh

Colonel
Messages
19,964
It looks like this one is pretty well covered in the public thread. AsstMod, can we get a case number and have a formal invite sent?
 

Daviden1

Private
Messages
29
Ok, there is anything else you want me to do in order to start the investigation, or maybe some other proof to attach?

Let me know.

Thanks

Davide
 

Pharaoh

Colonel
Messages
19,964
I think the main delay is that AsstMod is about to run off to an FPA retreat. That's going to slow a lot of things down.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,603
After a very busy few weeks, I'm now getting caught up. I've just emailed an invitation to XP Markets to join your pubic discussion thread in Scam Alerts. If they don't reply by email or get into the thread, this case will be moved to the Open cases folder before the end of next week.
 

Daviden1

Private
Messages
29
Thanks for that AssModerator,

I am sorry to put pressure on you, but I just want to see those crooks close their dishonest business a soon as possible.
 

Master Yoda

Captain
Messages
2,929
Looking at their site, it looks very fishy:
1. They are not regulated and they do not mention anything regarding regulation
2. They are mentioning their address: 39a Chippenham Mews London W9 2AN yet they are not FSA regulated!
3. The site looks bad, probably was made very fast
4. They are associated with Binary Options Trading Platform, therefore I suggest the following:

As they claim they are in the UK I suggest you will contact the FSA and complain against them, in the FSA site you have the option to complain against a non-regulated companies. They will handle this company legally, and from my experience when the company will see the FSA complaint they will pay you so fast :)
 

Daviden1

Private
Messages
29
I have just finished talking with an agent of the FSA (called now FCA) scam service and he was very helpful.

Since the company is not registered, They will not be able to do much, but he told me that they will start an investigation, at the end of which, they will display the company as fraudulent in order to prevent other traders to fell victim of the same scam.

I will keep you updated
 
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