Resolved - XM closed my account and refuses to give me my deposit back

[Loocai]

Hello dear members,

My situation is the following:

I opened an account last year on the trading platform XM. Eventually, I made a deposit of 1,000 USD and started to trade, taking the risks I desired to take. XM promptly closed my account and sent me this message:

"
Dear Sir/Madam,

We are writing to you regarding your account(s) no. 18245900 (hereinafter “your Account(s)”) held with our Company.

Our Anti-Fraud Department has brought to our attention that the trading patterns in your account(s) raise serious concerns, namely that this / these account(s) was / were being used for ‘arbitrage’ activities.

Pursuant to the Terms and Conditions of Business, such activities are being qualified as fraudulent.

Accordingly, and due to the above violation, we have decided, with immediate effect to:

- close all of your trading account(s);
- cancel any and all profits or losses garnered in your trading account(s);

Consequently, we kindly ask you to submit a withdrawal request for your remaining balance through the Withdrawals Section of our Members Area and this shall be processed accordingly. If no withdrawal request is received within the next 48 hours, your funds will be sent back to the same source initially used to fund your account(s)..."


As you can see, since my account was closed due to a trading activity that they consider "arbitrage", my deposit should have been given back, regardless of weather it was a profitable position or not. However, this has never happened. They closed my account and haven't given me back my own investment. I tried to talk to them many times and all I got were generic answers.

My purpose is making this post is to find a resolution to my problem as they have not complied with their own terms while I have been sanctioned at their own discreton.

Thanks and would appreciate any help,

Regards,

 

[Loocai]

@Chris Zacharia

I'm not sure how to proced forward because communication with the company has not been successful so far...

 

[Loocai]

@Chris Zacharia it is an unfortunate coincidence for me that you never loged back in after the same day I made this post as I really thought XM and you as representative would be interested in helping someome who trusted the company and became temporary a client.

 

[4evermaat]

Have you written a review of the company yet?

XM review: Is it a legit or scam forex broker?

The best thing I like about XM is that they are providing local bank INR deposits and withdrawals for India, in a seamless manner. I deposited and made a withdrawal too without any hassle from my bank account.

www.forexpeacearmy.com

Have you emailed this thread to known support emails of XM and also tagged XM on their other relevant social media profiles?

 

[Loocai]

Have you written a review of the company yet?

XM review: Is it a legit or scam forex broker?

The best thing I like about XM is that they are providing local bank INR deposits and withdrawals for India, in a seamless manner. I deposited and made a withdrawal too without any hassle from my bank account.

www.forexpeacearmy.com

Have you emailed this thread to known support emails of XM and also tagged XM on their other relevant social media profiles?

Thanks for your suggestions!

 

[FxMaster]

Thanks for your suggestions!

Few steps that you must follow to draw their attention to your issue,
Follow the suggested steps below:

If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
Go to their website and invite them to here via Live Chat
Invite them to join this thread via email (Send an email to every possible address).

You will find their email and address here https://www.xm.com/support

Also, Share your story as a review https://www.forexpeacearmy.com/forex-reviews/7509/libertex-review

You can also share your story on their social media pages mentioned below:

https://www.facebook.com/xmglobal

https://twitter.com/XM_COM

https://www.youtube.com/user/xmglobal

https://www.instagram.com/xmglobal/

https://www.linkedin.com/company/2930073/

 

[Loocai]

Few steps that you must follow to draw their attention to your issue,
Follow the suggested steps below:

If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
Go to their website and invite them to here via Live Chat
Invite them to join this thread via email (Send an email to every possible address).

You will find their email and address here https://www.xm.com/support

XM has answered me directly with an email detailing that they did process the payment, the issue lies on my method of payment. So it has nothing to do with them.

This thread can be locked, I no longer have a complain and my review can be deleted.

 

[FxMaster]

XM has answered me directly with an email detailing that they did process the payment, the issue lies on my method of payment. So it has nothing to do with them.

This thread can be locked, I no longer have a complain and my review can be deleted.

It`s always good to see resolved cases. Yo mods, can you please mark and move it to resolved folder??

Note: Don't forget to update* your review if you left any
* To update the review, you need to submit a review for the company with the same name as you used before on their review page.

And if you want to volunteer donation then here is the link to .
Note: Donation is not mandatory but if you think we helped you get your funds then you can say thanks to us by donation too

 

[FxMaster]

XM has answered me directly with an email detailing that they did process the payment, the issue lies on my method of payment. So it has nothing to do with them.

This thread can be locked, I no longer have a complain and my review can be deleted.

You need to submit a new review by same name and details so it can be edited by modarations.