Resolved Xemarkets withdrawal issue

[Ali Khoshkam]

I sent my withdrawal request about 2 weeks ago to Xemarkets as 27000$. After following a lot and complaining, they paid just 12918$ last week and promised to pay the rest within 48-72 hours but is remained for 7 days and they refuse to pay. Even I have complained against it to Cysec about this issue. Also I put a review on forexpeacearmy as my complaint, but when I checked,I saw it was omitted.
I am really worry about it and I have their emails which proves that their avoidance to pay and just telling "it will be paid ASAP".

 

[Master Yoda]

Hello Ali, I believe if you can show any respond from the company or anything that can help you to support your case it will be better.
This way you can get more direction or help from me or any other member.

 

[Ali Khoshkam]

Dear Sir,
I got bellow emails as Xemarkets response to my withdrawal request:
Sent: Monday, 13 May 2013, 13:26:41


Dear Mr.Ali,

Regarding your withdrawal, please note that we gonna send you the same amount you deposited via Webmoney today.
Regarding your profit, we will send it to you in 48 hours via webmoney or we can send it to you via MoneyBookers or Nettler today.
Please let me know weather you want me to send you the profit via Webmoney in 48 hours or via Other methods today.
Thank you

Kind Regards,

El Mestapha Lemghibichi | Business Development Manager | Business Development Department
T: +357 25029900 | F: +357 25820344
E: mestapha@trading-point.com



After getting no money and following a lot, I got the bellow email on Friday,17th of May:

Dear Mr. Ali,

I tried to call you but i couldn't hear you.
Sir please accept my apology for the delay.
Your withdrawal will be done as soon as possible sir.
Thank you

Kind Regards,

El Mestapha Lemghibichi | Business Development Manager | Business Development Department
T: +357 25029900 | F: +357 25820344
E: mestapha@trading-point.com


and after all I got this email today:

Dear Mr. Ali,
Regarding your withdrawal, Please note that I asked you to make a withdrawal request of $7000 on Friday but you didn't request it. Plus we requested from you before to choose an alternative method to make the withdrawal
As we are still having some issues with webmoney, which is not from our side. Please understand that I am doing my best to make your withdrawal as soon as possible, but unfortunately the issue is not from our side.
Please be sure that your withdrawal will be processed as soon as we solve the issue with webmoney. alternatively you can request a withdrawal with an alternative method.
Kind Regards,

El Mestapha Lemghibichi | Business Development Manager | Business Development Department
T: +357 25029900 | F: +357 25820344
E: mestapha@trading-point.com

 

[Pharaoh]

Go ahead and make that $7000 request. Yes, it's annoying to have to take it out in pieces, but you should grab anything you can while also asking them why you can't get it all at once.

 

[Ali Khoshkam]

there is no answer of them, just they force me to wait as they want to dodge me. otherwise how is possible to provide 7000$ via WM without any problem and they can not transfer 14000$ via it, they want to annoy. if I get 7000$ this time, for the rest I have to wait at least 2 weeks. I can not trust them at all.

 

[Master Yoda]

I agree with you Ali.
To speed things up I suggest you will file a complaint for the Cysec as they claim they are located in Cyprus (which I don't believe), this should speed things up as they are regulated
Cyprus Securities and Exchange Commission
Remember the firm name is Trading Point (but mention that the brand name you traded with was Xemarkets).

 

[XM]

Dear Ali Khoshkam,

As your account manager has informed you that the delay of your withdrawal is due to some compliance matters with WebMoney, therefore the delayed time is not in our control. As a result, we offered you an alternative whereby we can send your profits via a different withdrawal method however you refused to do so.

XEMarkets is already following up with your case with the payment provider. Unfortunately you will need to wait. We are still willing to process your money with a different withdrawal method if you do not wish to wait any longer.

Thank you

Carol P. – Official Representative of XEMarkets (Trading Point of Financial Instruments Ltd).

 

[Pharaoh]

Ali,

It looks like the ball is back in your court. Take $7K now via webmoney and wait for the rest or else pull out as much as you like via an alternative withdrawal method.

 

[Master Yoda]

Don't you think that 2-3 weeks delay is too much? I mean this is not a good service
I do agree however that the customer should not make obstacle and get his money in 2 payments.

 

[Pharaoh]

There definitely is an issue, but if it's really an external payment processor screwing around, the blame can't be dumped onto the broker. If the accounts manager truly offered alternate methods once the broker detected the issue, that's well within reasonable service levels. On the other hand, if the client wasn't informed of the problem and provided alternatives within a reasonable time frame, that would be a failure of customer service.

In any event, unless Ali encounters more problems getting his money, it looks like this issue is pretty much covered. One less problem in the world of forex. Only 999,999,999,999,999 more problems to go and we'll have it all fixed.