Resolved | www.xm.com cancel my profits! (manual grid trades!)

[XM]

As you have already been informed, it has been decided to close your account because we have reasonable grounds to suspect that you are abusing the fair rules of the bonus.

Upon further investigation of your trading activity, it has been decided to cancel all trades, to nullify the total loss of EUR 3035 in your account no. 2155281, and to refund all deposits. Please note that your credit card deposits have already been refund back to the source and we are waiting for you to submit your bank account details so we could process the remainder via bank wire.

Kind regards,
Andrey

 

[scream007]

As a client with you "XM" , can i know how this trader abused your system !, you didnt give us more details , you cant just close his account base on suspicions not proofs . This is scary for other clients with you .

 

[stevesmain]

As you have already been informed, it has been decided to close your account because we have reasonable grounds to suspect that you are abusing the fair rules of the bonus.

Upon further investigation of your trading activity, it has been decided to cancel all trades, to nullify the total loss of EUR 3035 in your account no. 2155281, and to refund all deposits. Please note that your credit card deposits have already been refund back to the source and we are waiting for you to submit your bank account details so we could process the remainder via bank wire.

Kind regards,
Andrey

I just can not help but to perhaps, maybe, think, suggest that I should comment about this!

It is obvious that XM has there mind on some thing else to make such vague comments to support there activity.
How on earth can a trader abuse a bonus? Either you trade with it or you don't!

To XM, specifically "reasonable grounds to suspect" is a bunch of none sense! This is black & white one color or the other. State specifics!

 

[cris777]

Hello Andrey,
I did not receive any further communication from XM. You are the first one that is requesting me to send the details of my bank account.
Where should I send them? to which email address?
As in the last communication I did not understand that XM was sending me back at least the losses (3035 EUR instead of 3600 EUR it is still acceptable), I sent few minutes ago an official complaint to complaints@xm.com
If somebody would notify me to which email address I should send my bank details I would retire my complaint. The reason is just because I know it will take a lot of time to continue this case and I prefer to get 3035 eur instead of 3.6k but in few days.

I look forward from hearing from you soon.
Cristian

As you have already been informed, it has been decided to close your account because we have reasonable grounds to suspect that you are abusing the fair rules of the bonus.

Upon further investigation of your trading activity, it has been decided to cancel all trades, to nullify the total loss of EUR 3035 in your account no. 2155281, and to refund all deposits. Please note that your credit card deposits have already been refund back to the source and we are waiting for you to submit your bank account details so we could process the remainder via bank wire.

Kind regards,
Andrey

 

[chaosscrem]

As you have already been informed, it has been decided to close your account because we have reasonable grounds to suspect that you are abusing the fair rules of the bonus.

Upon further investigation of your trading activity, it has been decided to cancel all trades, to nullify the total loss of EUR 3035 in your account no. 2155281, and to refund all deposits. Please note that your credit card deposits have already been refund back to the source and we are waiting for you to submit your bank account details so we could process the remainder via bank wire.

Kind regards,
Andrey

Im not sure Your account has been opened with XM Cyprus or UK but I think so. It looks XM didnt noticed that in EU every broker is forced to act under MIFID so they cannot cancell trades whatever they want. It similar situation to case that has been won by marchew ( 12 000 pounds ) https://www.forexpeacearmy.com/fore...33042-resolved-gft-cancelled-my-trades-2.html CRIS777 Just make a complaint to every authority You can :https://www.forexpeacearmy.com/fore...33010-tradaxa-sisma-capital-5.html#post161405 (POST 41 ), CYSEC, ombudsman and so on and tell about MIFID rules breaching. XM now has an obligation to proof You abused they trading system.

 

[Alonedevils]

What They Mean Arbitrage Trading ... ?
Opened Buy Sell Order On Pairs Have Correlations ?

Better Im Looking Forward For This Thread..

 

[Pharaoh]

Personally, I don't care if a broker cancels a bonus because they decided it's random bonus cancellation day. Brokers are very careful to reserve the right to cancel a bonus with or without a reason. I think traders should just decline ALL bonuses.

I also don't care if a broker tells a trader, "we don't like you and don't want to do business with you". No one forces brokers or traders to keep doing business. However, telling a trader that complaining about an issue is grounds for terminating all future relationships strikes me as a very good reason to not do business with that broker.

When we get down to removal of profits, I firmly believe that doing so without providing a firm and valid reason (as opposed to suspicions) to the client qualifies as scam, fraud, and theft.

 

[cris777]

Finally I can consider the case solved. XM sent me the money as stated by their representative. As all the deposits have been made by card, they sent me the amounts. Even if I did not get any clear confirmation, now I can say that this case can be considered solved as I see the money in my bank account.

However, after this experience, I agree with Pharaoh. Brokers try to actract clients by giving bonuses, but once they catch you they use that bonus as a gun against you.
Also, who gives you bonus does not let you trade directly in the market. They are the counterpart. Obviuosly, if you beat them, they are reluttant to pay you.

The best is to be with an honest broker that let you trade into the market and they get paid just from the spreads, in the way they have no interests in case you win. They should be happy if you win because it means you can generate more volumes of traded lots.

That's my personal consideration.

Good luck to all the clients of XM (Trading Point), and to all the clients with any broker having an account with a bonus.

 

[cris777]

No correlation, just one pair as you can see in the statement. The complaint was just due to the last 6 trades. You may check also the entry point and exit points.
You will see I was not trading during news time, or any other possible "price feed arbitrage". You can do all the checks you want. My trades were absolutely normal.

What They Mean Arbitrage Trading ... ?
Opened Buy Sell Order On Pairs Have Correlations ?

Better Im Looking Forward For This Thread..

 

[cris777]

Luckily, they paid.
I hope to do not be in the future in this kind of situations as I know it take a long time before you see your money if you start a complaint...

Im not sure Your account has been opened with XM Cyprus or UK but I think so. It looks XM didnt noticed that in EU every broker is forced to act under MIFID so they cannot cancell trades whatever they want. It similar situation to case that has been won by marchew ( 12 000 pounds ) https://www.forexpeacearmy.com/fore...33042-resolved-gft-cancelled-my-trades-2.html CRIS777 Just make a complaint to every authority You can :https://www.forexpeacearmy.com/fore...33010-tradaxa-sisma-capital-5.html#post161405 (POST 41 ), CYSEC, ombudsman and so on and tell about MIFID rules breaching. XM now has an obligation to proof You abused they trading system.