RESOLVED - My Story with XM..

[lordoftruth]

After 4 years of collaboration with XM Trading Point and 6 months as official representative in Romania
( on Past before changed its name to XeMarkets).
After I got:
214 Real Accounts
16 Sub-Affiliates
$10316.34 Total Commission
What was the price !!!
All of us Know : "There are two ways you can lose money as a trader: on one hand by unsuccessful trades and on the other hand through theft. If the account password was cracked by an outside source, We can't hold the broker responsible for the trades. What we can hold the broker responsible for is providing us with a complete list of IPs that accessed the account at different times. If the broker won't provide this, then the assumption should be that they likely inserted a fake trade when we was offline".
On my case : The trades did not come from outside the company on the end of 2012 as one of XM staff tried to destroy my accounts two times and XM recovered my accounts ( 10545 and 40261) on the start of 2013..
Two times.
XM recovered my accounts as follows:
_The first time on 11/01/2013...10545 : 820.63 balance 40261 : 3920 balance and 2024 bonus
_The second time on 04/02/2013... 40261 - 2730 $

Everything going fine till 15 Aug/2013
the problems started after this date

My Account 2130682,
The first fake trade was done Between 15 Aug and 01 Sep 2013 On 15 Aug 2013 I spoke from Bucharest Airport by phone with XM to close all my gold orders...
because I had some problem with my laptop..
the orders was closed and the last time that I logged (188.26.170.182-RCS & RDS-Residential-Romania) to my account was 15 Aug 2013 before my travel to Syria to check my balance 5400$ cash ( account 2130682).
I left Syria on 1 Sep 2013... So between 16 Aug 2013 and 01 Sep 2013 I will not able to trade or to check my account..When I came back to Romania I found on my account 2130682 only 3000$ cash!!

Account 2130682,
Fake trade was done again on Dec 2013 Monday Dec 02/2013
I had on it 3806$ cash Most of the month I was on hospital for some investigation .. When I checked it..I found the account empty !!!!

Account 2159639,
Another fake trade was done 21 Jan 2014 ..this time 1830 euros cash gone with the wind..

Any time I wrote I received a phone call from one of angry staff..

I contacted the Ceo many time by FB to inform him about my case and every time he wrote
"No problem my friend. I ll check your case personally!"
the last time was on on 29 Jan 2014 and I got no answer from him till this moment..

I contacted XM on 29 Jan 2014 by e-mail to ask them kindly to:

1_Check :

_2130682 (5400$ cash), Between 15 Aug and 01 Sep 2013 after my call to XM to close all my gold orders before my travel to Syria ( 15 days in Syria)
to see how my account become 3000$ cash!! ( Losses 2400$ cash )

_2130682 (3806$ cash) , after 02 Dec 2013 ..6.00 A.M Morning ( most of the month on hospital) to see how become 0 $ ( Losses 3806$ cash )

_2159639 (1830 Euros) , after 21 Jan 2014 to see also how become empty ( Losses 1830 eurs cash )

2_Recover my accounts.

The result was angry call from my account Manager
That She was very angry!! She said:
" ...The person that he did the fake trade left XM for a long time...It is not our fault .. we pay you !!!!!! It is you responsibility..physically it is not possible..sorry for bad news.."

On 12 Feb 2014 I wrote to them again hopping to receive a final and clear decision in order to recover my accounts.
The result was another short and angry phone call from Andreas Pouroutis on 18 Feb 2014
He let me feel that his calls to me was a kind of warning..
From his words "...we lose with you..Recovering became habit..do you want to report about us..do not forget you are our partner.. it is not our fault ..XM will not pay you ..bla..bla..that is..)

On my own responsibility, I declare that: I did not open or close any order on the above periods.
The fake trades ( 8715$) was come from inside (or with help from inside) the company..as on the past .. But XM did not want to recover my accounts

 

[LoRio]

After 4 years of collaboration with XM Trading Point and 6 months as official representative in Romania
( on Past before changed its name to XeMarkets).
After I got:
214 Real Accounts
16 Sub-Affiliates
$10316.34 Total Commission
What was the price !!!
All of us Know : "There are two ways you can lose money as a trader: on one hand by unsuccessful trades and on the other hand through theft. If the account password was cracked by an outside source, We can't hold the broker responsible for the trades. What we can hold the broker responsible for is providing us with a complete list of IPs that accessed the account at different times. If the broker won't provide this, then the assumption should be that they likely inserted a fake trade when we was offline".
On my case : The trades did not come from outside the company on the end of 2012 as one of XM staff tried to destroy my accounts two times and XM recovered my accounts ( 10545 and 40261) on the start of 2013..
Two times.
XM recovered my accounts as follows:
_The first time on 11/01/2013...10545 : 820.63 balance 40261 : 3920 balance and 2024 bonus
_The second time on 04/02/2013... 40261 - 2730 $

Everything going fine till 15 Aug/2013
the problems started after this date

My Account 2130682,
The first fake trade was done Between 15 Aug and 01 Sep 2013 On 15 Aug 2013 I spoke from Bucharest Airport by phone with XM to close all my gold orders...
because I had some problem with my laptop..
the orders was closed and the last time that I logged (188.26.170.182-RCS & RDS-Residential-Romania) to my account was 15 Aug 2013 before my travel to Syria to check my balance 5400$ cash ( account 2130682).
I left Syria on 1 Sep 2013... So between 16 Aug 2013 and 01 Sep 2013 I will not able to trade or to check my account..When I came back to Romania I found on my account 2130682 only 3000$ cash!!

Account 2130682,
Fake trade was done again on Dec 2013 Monday Dec 02/2013
I had on it 3806$ cash Most of the month I was on hospital for some investigation .. When I checked it..I found the account empty !!!!

Account 2159639,
Another fake trade was done 21 Jan 2014 ..this time 1830 euros cash gone with the wind..

Any time I wrote I received a phone call from one of angry staff..

I contacted the Ceo many time by FB to inform him about my case and every time he wrote
"No problem my friend. I ll check your case personally!"
the last time was on on 29 Jan 2014 and I got no answer from him till this moment..

I contacted XM on 29 Jan 2014 by e-mail to ask them kindly to:

1_Check :

_2130682 (5400$ cash), Between 15 Aug and 01 Sep 2013 after my call to XM to close all my gold orders before my travel to Syria ( 15 days in Syria)
to see how my account become 3000$ cash!! ( Losses 2400$ cash )

_2130682 (3806$ cash) , after 02 Dec 2013 ..6.00 A.M Morning ( most of the month on hospital) to see how become 0 $ ( Losses 3806$ cash )

_2159639 (1830 Euros) , after 21 Jan 2014 to see also how become empty ( Losses 1830 eurs cash )

2_Recover my accounts.

The result was angry call from my account Manager
That She was very angry!! She said:
" ...The person that he did the fake trade left XM for a long time...It is not our fault .. we pay you !!!!!! It is you responsibility..physically it is not possible..sorry for bad news.."

On 12 Feb 2014 I wrote to them again hopping to receive a final and clear decision in order to recover my accounts.
The result was another short and angry phone call from Andreas Pouroutis on 18 Feb 2014
He let me feel that his calls to me was a kind of warning..
From his words "...we lose with you..Recovering became habit..do you want to report about us..do not forget you are our partner.. it is not our fault ..XM will not pay you ..bla..bla..that is..)

On my own responsibility, I declare that: I did not open or close any order on the above periods.
The fake trades ( 8715$) was come from inside (or with help from inside) the company..as on the past .. But XM did not want to recover my accounts

Αre you 101% sure these were not bonuses expiring?
Do you promote via website?
Are yu the signal provider for people you reffered?
Anyone of them accesed the markets through your laptop at any moment?

 

[lordoftruth]

Thanks for your reply
It is not bonuses..It is cash money..
this money came from deposits and from my Commission from XM as Partner
yes I promote XM via blog and FB..
No, I am not signal provider
No... no one access the markets through my laptop..
The fake trade came from inside XM

 

[Pharaoh]

For the trades you can account for, were you placing them, or were the clients placing the trades?

 

[lordoftruth]

All the 4 accounts is mine
XM recovered my accounts as follows:
_The first time on 11/01/2013...10545 : 820.63 balance 40261 : 3920 balance and 2024 bonus
_The second time on 04/02/2013... 40261 - 2730 $
and they advised me then to open another accounts and to use only the 2 news accounts
2130682 and 2159639
So I started to use the 2 new accounts for trading
Everything go fine with the new accounts as I said till 15 Aug/2013 !!

The first fake trades was placed on account 2130682
_Between 15 Aug and 01 Sep 2013 when I was in Syria ..after my phone call to XM ( in this phone call I requested from them to Close all my gold orders .. because I was not able to close it from airport before traveling to Syria with 2 hours.. The orders was Closed by them and they informed me by the phone that..I have 5400$ cash on my balance).. The fake trades was placed after this call with few hours..( Losses 2400$ cash )

_The second fake trades was placed on account 2130682
after 02 Dec 2013 ..6.00 A.M Morning ( after my going to Hospital )( Losses 3806$ cash )

_The last fake trades was placed on account 2159639
after 21 Jan 2014 to see also how become empty ( after my going to Hospital )( Losses 1830 euros cash )

 

[bigdolly]

Doesn't this broker allow to have only one account and submit opening more account with them?

 

[lordoftruth]

I have with XM 5 accounts ( My Own Accounts)
I Did not use the first 2 accounts 10545 and 40261 since 04/02/2013 as the advised me 2 open another 2 accounts
From this date, I used the accounts 2130682 and 2159639 one for the commission the other one for trading
After The first fake trades was placed on account 2130682 I opened the account 83094

So the result after 4 years of collaboration with XM and 6 months as official representative in Romania was

5 Personal accounts ( My own accounts )
214 Real Accounts ( Clients )
16 Sub-Affiliates
$10316.34 Total Commission
....................................................................
8715 $ was gone by fake trade from inside the Company and the rest of Commission on paid advertising
So the Result of 4 years of hard work was 0 and serious healthy problem (All my personal accounts is empty)

 

[weinghong]

i have been lable XM as scam broker, if you try to check back previous post u could find many un-settle case with XM, FPA is on XM side, they cant help us, you just can take it as an experience, XM not worth let me being an IB with them and also a trader, after i quit XM i found 1 more broker better than it and make me invest more than bring more client to them, a good broker always let their client feel happy, even lossing trade

 

[lordoftruth]

Thanks for advise
I think FPA ..here for help not to be on any broker side
Al least I hope that
Anyway I submit Court Case Preparation folder
Let us see what will happen

 

[lordoftruth]

I think a legitimate complaint with solid evidence will give result
If not you can complaint to :
cysec
fsa
fca
police