It's X(sca)M not XM ... !

[Muhammad Arsalan Fahim]

BEWARE ! The broker known as XM is a huge scam, the will attract you with the sugar coated things but actually there's motive is simply do not let anybody make money. I have all the proofs that they are totally wrong in my case. They are saying that I used some kind of an algorithm or expert advisor. However, if anybody in this world can prove it I will leave trading for ever. If you guys are thinking of open an account with XM , DO NOT DO IT. Ask me about their weapons are tactics.

 

[weinghong]

i also just get a case with XM, i just copy to here and later i will open a new thread, maybe filling the case also. I think it was because XM no money to pay me or really dont wan to pay me. But so what, not the first time i get scam from XM.com, now i deciding to change a new broker if they really dont want to pay me.

Following a thorough investigation of your trading account(s) by our Compliance Department, we hereby would like to inform you that, based on a detailed review of the trading activity in your account(s) on the 10th of January, 2014, we have concluded that, due to the frequency of the alternating trading positions that occurred in your account(s) just before, during and after the news announcements in question were made on the 10th of January, 2014, the transactions carried out in your account(s) at that time clearly reflect a technological and/or algorithmic trading pattern that was 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 an expert advisor and therefore could easily manipulate sudden fluctuations in prices.



Pursuant to Clauses 53.2 and 53.3 of the Company’s Terms and Conditions, to which you agreed when you opened your account(s) with our Company, we are, therefore, entitled, under these circumstances, to revoke the transactions initiated in your account(s), insofar as they relied on such price latency arbitrage opportunities and make the necessary and corresponding corrections and adjustments in your account(s) at our Company’s sole discretion. Accordingly, you will not be compensated for the profit of USD 1795.70 resulting from the transactions in your account(s) that we have determined as resulting from the above-mentioned price latency arbitrage opportunities, since the transactions in your account(s) that gave rise to such profits are revoked/cancelled and any profits initially shown in your account(s) as a result of such transactions can, therefore, not be considered as legitimately made on your behalf.

 

[Muhammad Arsalan Fahim]

My Case

Cheaters, Scam, Fraud.
There motive is simply not letting anybody make profits.
I had minor issues in past as well during last 4-5 months but I kept ignoring however I always complained and told them about the issue.
On Friday, 10th Jan 2014 just before NFP I bought Gold considering my technical analysis and judgement risking whole my account but fortunately my trade gave a good profits. I have every proof of it also. Now today they sent me an email telling that you are using some algo/EA which is bull**** and your account has been disabled moreover you will not be given your profits.
The last time on NFP when I had losses they didn't bother to listen to what I said and I gracefully accepted losses. Now this time when I made profit the losers X(sca)M can't take it . They are DISGUSTING and **** headed people are serving there. I bet they can't prove that I was using any Algo/EA because I wasn't. Listen people from XM I am not gonna take **** from you guys any more and you better return whole of my Balance which was $1181.27. When every time I accepted losses on major Data , this time I will definitely accept and need my well deserved profit too.

 

[Muhammad Arsalan Fahim]

The XM people are saying that I can't get the profit of the trades and they have also disabled my account.

 

[Muhammad Arsalan Fahim]

My account Balance was $1181 but they are saying that I won't get the profit of the last trade which is $584.5.

 

[weinghong]

i can confirm that XM wont come and discuss this issue with trader, they can simply change the agreement when you register the account you agree about that, and i think most of the people have the same issue, for the lossing trade during news event XM wont close they account even give back they capital, for whom winning during news XM will close they account and just give back your DEPOSIT. this was one of the trick of scam broker, and about scam broker director of XM Mr.Tasos define as " We dont call the scam broker as broker, cause they are not really a broker, they are just scammer"

 

[XM]

Dear Mr. Fahim,

During the latest release of Non-Farm Payroll you requested to open position that was significantly different from the actual market price.

It is clear that your actions at that time were aimed 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 an expert advisor or other 3rd party software and therefore could easily manipulate sudden fluctuations in prices.

Please note that only one transaction, which relied on price latency arbitrage opportunities, was cancelled. Profits from trades executed at valid prices were refunded as well as your initial deposit.

Kind regards,
Andrey

 

[scream007]

I m not defending XM , i was a client with them for 6 months , they never manipulated price with me , also i withdraw all my money without any problem , i dont like their spread which is high , i think that they are honest , that s my point of view

 

[weinghong]

i am also a client of XM "before" this, i have been traded with them more than 1 year, i am trading with them just because the deposit method, i am also didt notice that they manipulate market price before this, after my case happened they closed my account and returned back my deposit fund.And now not only i facing this issue, if you didt facing this maybe you are just not a profiting trader

 

[Pharaoh]

Andrey,

How does XM determine if a trade is latency arbitrage vs. standard news trading using something like the FPA's Forex News Gun?