m4markets.com doesn't withdraw funds

el23876

Private, 1st Class
Messages
48
Opened account with this broker due to their advertisement that they have ultra low execution time, large liquidity pool, tight spreads in volatile time and A-Book model where all the orders are executed on market.
Trading strategy - scalping on macroeconomical data. No arbitrage and no price manipulation. Scalping is not prohibited with their rules. Who else needs ultra fast execution, tight spread in volatile times and A-Book? Right, only scalper.

Traded with them for nearly 2 months, made 2k profits and requested my first withdrawal. Just after receiving my withdrawal, they have terminated my accounts and reversed all profits.
My request to provide clarification and proofs by email was ignored despite their representative here claimed to do so in conflict situation.
My request was to provide a letter from their liquidity provider about cancelling all my profitable trades (as they claim to execute all orders on market) or to undo cancelation if it was made as error. I have also send detailed explanation of my strategy and provided screenshots of execution of the same trades on other brokers.

Company representative is invited to participate in discussion.
 

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Sirajuddin

Private, 1st Class
Messages
39
Hi, I have some questions. What was your initial deposit and do they allow to withdraw it?
Could you also provide a trading statement? They are talked about abusive trading activity and statement with your orders can help to understand is it true or not.
And by the way, have you used EA or trade manually?
 

el23876

Private, 1st Class
Messages
48
Hi, I have some questions. What was your initial deposit and do they allow to withdraw it?
Could you also provide a trading statement? They are talked about abusive trading activity and statement with your orders can help to understand is it true or not.
And by the way, have you used EA or trade manually?
Sure. Statement attached. I've used 2 type of accounts with them, trades are nearly similar. All the trades were placed after receiving strong macroeconomical data just before market reacts: Interest rates, CPI, etc. Trading is semi automated. I'm using my own infrustructure for news trading for years. All the setup before trade is manual, closing trade is manual, pushing signal itself to different trading softare is automated.
 

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el23876

Private, 1st Class
Messages
48
At least you got something back. If it equals to the amount you deposited, it is not that bad situation
My position is there is no place for thiefs in this industry. If broker refuses to withdraw your whole deposit size, there must be detailed explanation. Otherwise it is not a broker - it is bucket shop, kitchen with potatoes.
 

FxMaster

Lt. Colonel
Messages
10,237
no. they just stopped replying to me )
Let's start with adding your story as a review https://www.forexpeacearmy.com/forex-reviews/18276/m4markets-forex-brokers and then follow the below suggestions.

First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

Note: The invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.
Note 3: Make sure to follow the suggestions correctly, when you do it correctly you will get the below message in your thread automatically.

OP Screen shot.jpg
 

M4Markets

M4markets Representative
Messages
6
Dear El 23876,

As indicated to you via email, you have violated our T&Cs. As per company policy, we have returned the initial deposit to you. We have also noticed that you have written similar reviews to several other brokers, a clear indication that this is not first time you do this.

Since M4Markets is not in the business of withholding profits, we have donated any profits you generated through abusive behaviour to Unicef India (attaching the proof).
 

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el23876

Private, 1st Class
Messages
48
we have donated any profits you generated through abusive behaviour to Unicef India

wow!! so after cancelling trades, the funds went not to the other part of the trade, but they appeared directly in your pocket? are u confirming by these words that all of these trades have not been executed on market?

good start for the conversation ))

are you sure u want to continue? or may be you would like to invite any technical staff who knows what is ECN, market execution, A-Book ans so on?

Secondly, it was not I who broke T&C, but your company broke them by not withdrawing my funds, you can read your T&C more attentively
 
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