RESOLVED - My Story with XM..

[lordoftruth]

dont tell me XM was a STP/ECN broker, it accept my trade and when i profit it dont give me money. And somemore it could close my trade at non existing market price, if you tell me XM was STP/ECN broker it sure wont be happen

XM is STP and same time Market maker
With a dealing room. However, it is not directly involved in execution of every single order because clients orders are executed in automatically.

In this case, the term "STP model of execution" simply means automatic processing of orders.
The use of this model reduces the delay between the reception of an order and its execution to less than a second.
This, coupled with the NO Re-quote and NO Rejection policy, allows XM to provide the clients with almost instantaneous execution of orders.

The problem is :

Where is the Execution with no re-quotes and no rejection of orders.

Why XM reject a traders orders.. and hides behind the action of a market maker ??


What I mean :

I MEAN XM DOS NOT SENT ALL THE TRADES TO THE MARKETS IN STP (STRAIGHT-THRU-PROCESS)...
THEY KEEP THE TRADES IN-HOUSE FROM CLIENTS.... AND HEDGING SOME OTHERS CLIENTS...
ALSO THEY BOOKING SOME TRADERS ... AND THIS DESK DEALING SIDE... IS JUST EAT YOUR POSITION...

 

[lordoftruth]

Can Any one here tell me:

_Why XM do not want to join us on Case# 2014-041 | lordoftruth vs xm.com ??

_If is it fair ?

_To lose the 8715$ by fake trading !!
_To work for XM around 6 months with no salary as Official Representative in Romania !!
_To reject the traders orders..(claim of arbitrage against clients) and hides behind the action of a market maker !!

CySEC Bares Its Teeth: Trading Point Fined ?5,000 For Infringement of Client Funds Regulations | Forex Magnates​

 

[weinghong]

any others action we can do except FPA and sent email to regulator?

 

[lordoftruth]

any others action we can do except FPA and sent email to regulator?

This is just a start
Yes There are other actions.
But Also I hope to find solution here.

So, I Ask XM :
_ To recover my accounts ( 8715$ )
_ To give me The Salary as Official Representative in Romania for 6 months !!
_ Also moral damages.
_ To find solution for my clients that there traders orders was rejected (arbitrage).

King Regards,

 

[lordoftruth]

Cypriot regulator CySEC has announced that it has imposed a €5,000 administrative penalty on Trading Point of Financial Instruments Ltd for a transgression of Article 18 of the Investment Services, Activities and Related Markets Law of 2007 and an infringement of Directive DI144-2007-01 of CySEC’s licensing conditions.

These offences related in particular to Trading Point’s failure to comply with the organizational requirements of the law to make sufficient provisions to protect and indemnify client funds whilst in the custody of the company. CySEC also cited that there were irregularities in the firm’s attention to the Anti Money Laundering (AML) procedure.

Federal Court in Illinois Orders Trading Point of Financial Instruments Ltd.
to Pay $140,000 Penalty for Acting as Unregistered Retail Forex Dealer​

 

[ilearn2t]

Hello lordoftruth

The report dates back to May 1, 2012, but on thing I noticed from within the report and the staff and senior members of this forum keep advising us, on a daily bases, is this:

The CFTC strongly urges the public to check whether a company is registered before investing funds. If a company is not registered, an investor should be wary of providing funds to that company.

Good luck
ilearn2t

 

[Pharaoh]

That was part of the "foreign brokers aren't allowed to have us customers" program that Dodd-Frank brought us.

 

[lordoftruth]

Hello lordoftruth

The report dates back to May 1, 2012, but on thing I noticed from within the report and the staff and senior members of this forum keep advising us, on a daily bases, is this:

The CFTC strongly urges the public to check whether a company is registered before investing funds. If a company is not registered, an investor should be wary of providing funds to that company.

Good luck
ilearn2t

Dear ilearn2t,

Thanks for reply

Kindly be informed,
I started with them 4 years ago as trader when Trading Point take started.
I checked everything then and I found they are regulated by CySEC.
I deposited with them around 3000 dollars and I start trading and I became IB.
After few month I became their OFF REP in Romania with no salary ( they paid me only the phone bills) because I trust them and never I think They will fire me out.
When I asked about the reason they told me that < all the calls with the Romanian clients must be registered and will be happy to be their Partner for a wile and on the near future will open office here in my country and take me back as OFF REP>
I accepted and every thing run fine with no problem till the first fake trade by one of XM employee..after they discovered that they fired out him.
But the problem with the fake trades on my account has taken place after that many times....

I hope that I was more clear this time!!


Dear Valued Members,

I ask you so kindly to Read the full story

You will see
All my 5 accounts was brought to 0..
My losses is 8715 dollars and 4 years of hard work gone on the wind.


If you need more info about me and when I started with XM please check

_Blogger
Follow The XM Bull: YOU TALK ...... WE LISTEN CONTACT US

_Youtube

HHfRkILJ4I0[/media]]Official Representative at Trading Point of Financial Instruments Ltd_Romania.flv - YouTube
and all my channels..

_FB pages
https://www.facebook.com/FollowTheXMBull
https://www.facebook.com/LORDOFTRUTH
https://www.facebook.com/groups/225747187505024/

If you want more info about XM see Regulation

XM.COM is a trading name of Trading Point Holdings Ltd, which wholly owns Trading Point of Financial Instruments Ltd (Cyprus), Trading Point of Financial Instruments Pty Ltd. (Australia) and Trading Point NZ Ltd (New Zealand).

Trading Point of Financial Instruments Pty Ltd is authorized and regulated by ASIC (AFSL no. 443670).

Trading Point NZ Ltd is a FSP (Financial Service Provider), and it is registered with the FSP under registration no. FSP235905.

Trading Point of Financial Instruments Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 120/10, and registered with FCA (FSA, UK), under reference no. 538324. Trading Point of Financial Instruments Ltd is governed by the Markets in Financial Instruments Directive (MiFID) of the European Union.

Trading Point of Financial Instruments Ltd is registered with the following:
FCA Financial Conduct Authority (FSA, UK) under registration number 538324
BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht), Germany, under registration number 124161,
CNMV (Comisión Nacional del Mercado de Valores), Spain, under registration number 2010157773,
AFM (Autoriteit Financiële Markten), Netherlands,
FI (Finansinspektionen), Sweden,
FIN (Finanssivalvonta Finansinspektionen), Finland,
PSZÁF (Pénzügyi Szervezetek Állami Felügyelete), Hungary, under registration number K0005633,
CONSOB (Commissione Nazionale per la Società e la Borsa), Italy, under registration number 3046,
ACP (Autorité de Contró Prudentiel), France, under registration number 73640,
KNF (Komisja Nadzoru Finansowego), Poland;
Embraces the investor protection measures described by the Markets of Financial Instruments Directive (MiFID);
Adopts clear procedures to categorize clients and assess their investment suitability for the sake of risk management;
Follows a best execution policy for executing trading orders on terms most favorable to clients;
Ensures trading transparency for its financial instruments by providing detailed information about trading conditions;
Collaborates with multiple liquidity providers to offer the best spreads and liquidity at all times;
Follows a no re-quotes and no extra commissions policy that could negatively affect clients’ investments;
Is governed by the CySEC Directive (DI44-2007-08 of 2012) for the prevention and suppression of money laundering and terrorist financing.

So. where is the problem !!
The fast grow of trading point brought a lot of problems
Most of this problems is with some of staff
This is the reason why I became victim of XM and I am here.


Dear all,
I am not here to waste my time. I became here because I need FPA help
It is not easy to judge same this case..but I am sure that your decision will be fair and accrue.

What I want !!

I Ask XM :

_ To join us on the Case# 2014-041 | lordoftruth vs xm.com
_ To recover my accounts ( 8715$ )
_ To give me The Salary as Official Representative in Romania for 6 months !!
_ Also moral damages.
_ To find solution for my clients that there traders orders was rejected (arbitrage).

King Regards,

 

[lordoftruth]

Dear Pharaoh,

As I said before , After the list first fake trade on my old accounts 10545 and 40261
XM have recovered my accounts after the investigation ( after they know the fake trade done by their employee )
as follows:
10545 : 820.63 balance
40261 : 3920 balance and 2024 bonus.
and sent me the list of the fake trade was done by him

​

The same thing with the second fake trade
They discovered the fake trade done by him on few hours

​

Why XM do not want tell us the truth ??
Everything is registered on the Company in Cyprus .. Calls .. files..e-mails..

Why XM ??
_Did not want to answer my below questions
_Did not want to join the case to discuss in semi private
_Did not send me the IP of the fake trade:

account 2130682
after 02 Dec 2013 ..6.00 A.M Morning ( Losses 3806$ cash )

account 2159639
after 21 Jan 2014 ( Losses 1830 euros cash )

So I ask so kindly XM to:

_Check all the calls of this XM employee to me on the last month of 2012 and the first month of 2013 ( Must Translator).

_Tell us how they discover on Jan/11/2013 that he was behind the first fake trade.

_Tell us How many accounts he manipulated around this period and how before he fired him out.

_Check all his calls with clients to see Why we lost all of our Romanian Clients the last year.

_To check his calls to me on Jan/11/2013.

_To call some of our Romanian clients to see why they left XM and how he do that to get them to another broker

_To tell us about My calls to Andy April/04/2013..and how they discover the That he did the second fake trade
with help from inside XM.

_To tell us about Andreas call to him on the same date and why he became crazy starting to warn me and
contact everyone fro our clients to leave to another Broker.

_To tell us how many accounts he had with XM ..

_To check my 2 calls to XM on Aug/15/2013 to see how my orders was closed by phone.

_To give us an explanation how the fake trade start after few hour after I left Romania on the same date

_To check all the staff calls ( Romanian Department) to him to let us know who help him from inside XM this time:
around the date Aug/15/2013
around the date Dec/02/2013
around the date Jan/21/2014

_ To tell us why Andy this time told me by e-mail
"I am sorry. I do believe you my friend, but my hands are tied here."
and to tell us why his hand are tied and who want to protect!!

_ To tell us why the Romanian Account Manager was very angry when she called me to tell me
" ...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.."

_ To tell us why Andreas called me to told me with waning tone
"...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..).

_ To ask Matt about the way that I promoted XM during all the period to let us know how around 2000$ gone on promotion and to let us know if one of my 216 clients trade this month.(all of them gone to FxPro)

_ To tell us if I got from XM any salary for 6 months as official representative in Romania and how I was informed that I became just IB.

_ To tell us why when I wrote on Forexfactory about My Story with XM
My post was deleted after few minutes and my membership was denied there.

 

[Pharaoh]

Evidence that an employee said another employee placed one or more disputed trades would go a long way towards supporting your argument.