Problem XM Cancel my account for trading patterns

[Marcos bermejor cruz]

Hi, I open this thread to alert against xm.
I opened a trading account and requested the 25 e bonus, my first operation made a profit of 50 e.
From then on, I placed a strong order for an operation the result is that they closed my account.

The sense of presenting this alert is that they understand that this brokers only wants to open accounts to people who are not profitable if you are a winner they lose money.
It doesn't matter if the money is 50 and what I want to make clear is that if you are a truly winning traders this brokes will suspend your account.
This is a scam also took away my earnings.

 

[alzahif]

thx for sharing I got the same problem with them months back said my account was used from different IP addresses .. they destroy their name for cents
for me they are a scammer and blacklisted

 

[Marcos bermejor cruz]

Hi, I'm sorry to read this. Am I not the only one with this problem? Now I understand that they have the right to close my account unilaterally but while I was operating the contract was in force by both parties. Winnings are legal until the date of cancellation.

 

[4evermaat]

@Marcos bermejor cruz

--> Can you make sure you login to the trading platform from desktop and submit the full account history statement? Use this tutorial: https://www.forexpeacearmy.com/community/threads/preserve-mt4-mt5-account-trade-history-statements-part-1.63543/

Also get all screenshots / video evidence of your account that you can (bandicam / thundersoft screen recorders).

This would possibly include any relevant live chat/email conversation. Or your broker account backoffice (cabinet/client account management panel).

I am particularly interested in the letter / communication explaining why the account was closed and/or suspended?

--> If you have any credit cards on file with the alleged scammer (or any payment method that may be compromised), you may consider at least placing a temporary block on the card (or changing the payment pin/ID. This may prevent any further losses.

--> Have you written a review of the company? https://www.forexpeacearmy.com/forex-reviews/7214/xm-forex-brokers?per-page=50

--> familiarize yourself with FPA's Traders court rules: https://www.forexpeacearmy.com/community/threads/new-traders-court.58022/

--> after 96 hours, you may formally invite the company here: https://www.forexpeacearmy.com/comm...how-to-invite-a-company-to-your-thread.58438/

--> Do NOT abandon this thread. Every week, check back to report any updates from the company and/or respond to any unanswered inquiries.

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Please complete these steps as soon as possible.

thx for sharing I got the same problem with them months back said my account was used from different IP addresses .. they destroy their name for cents
for me they are a scammer and blacklisted

Can you please open your own separate scam alert about your issue and upload evidence on that thread only please?

 

[4evermaat]

XM has been misbehaving for some time now. I do wish more and more people come forward. Some past misbehavior can be found in this thread:

fak XM delaying orders 3+ minutes slippage scam

Often times you hear stories of brokers like [fak] XeMarkets using virtual dealer plugin in some form or another to trade against their client so that they will lose. Either delay execution significantly, cancelling trades without notice, reject opening or closing of trades, or delay/refuse...

www.forexpeacearmy.com

@Piusmakor21 can you explain the behavior the OP has experienced?

 

[Marcos bermejor cruz]

Support Team <spanish.support@xm.com>
Thu 03/05/2020 19:08
Dear Marco,

We regret to inform you that in accordance with the provisions of the termination section of our Commercial Terms and Conditions, this email is our official notice of termination of our business relationship with you.

Greetings,

 

[Marcos bermejor cruz]

Hello, this is the first email I received and then the complete termination of the contract.



Important notice: Violation of the Terms and Conditions of trading bonuses
Dear Customer,

We get in touch with you regarding your trading account (s) 55007908,60646049 (“your account (s)”) at XM.


We regret to inform you that the trading patterns in your account (s) clearly indicate that you have violated section B.5 of the Terms and Conditions of the no deposit trading bonus.


In addition, we have identified that you used the same IP address to operate your account with other customers of our company who also received the no deposit trading bonus. Next, we cite the aforementioned clause for your reference:


"The participation of" intermediaries / related parties "in the" Scheme of non-deposit trading bonds "is prohibited. If the registration and / or trading data of a participant of the "No deposit deposit bonus scheme" corresponds to the registration and / or with the trading information, including among others the IP address, of another participant of the "Bonus scheme Trading without deposit ", XM reserves the right to estimate this coincidence as a reason for immediate disqualification."

Despite the violation mentioned here, we decided not to end our business relationship with you. However, keep in mind that any loss / benefit generated in your account / s was deemed void and was confiscated.

Our decision is final and binding for all participants. In the event that we identify any trading / behavior activity that involves the violation of our Commercial Terms and Conditions, we reserve the right to permanently terminate our business relationship with you, effective immediately and without prior notice.
Greetings,

The XM Team

 

[Marcos bermejor cruz]

I must clarify something, it is true that from the same IP another person requested a bonus but always on a personal basis. I understand that xm considers that a violation but if I deposited money and lost sure that they would not return anything to me.
Here my claim is of the profits until they terminated the contract.

 

[Marcos bermejor cruz]

but the other person who asked for the bond lost it months ago here there was no trap of operating reverse accounts with the bonds. so that that there was fraud is not true. I want it to respect the contract the time that lasts is fair .

 

[4evermaat]

There's an old saying. If you lay down with dogs you will catch fleas.

Anyway, let's see if we can invite XM to explain their side of the story.