XM.com unlawfully cancelled my trades

[geektrader]

Same happened to me. Just report them to CySec via Cyprus Securities and Exchange Commission and spread the word on Forums, they will hurt theirselves in the long run because potential clients who read this will NOT open an account with XM.com, and that will cost XM.com a lot more money compared to the money they´ve made back by canceling your trades. Just spread the word and always report to the regulators! XM.COM and now IronFX pulled off the same tricks with me (see this Forum).

 

[veri5]

what is the value of such investment company's activity for public and clients? - negative, so they definitely must be shut down and these people must be kept far away from handling client's money. You can do their internal complaint procedure to get official answer, parallel report to consumer protection centre in Cyprus and your own country, Web Filter . and point out unfairly contract terms. also refer to other other regulator's actions - numerous cases in US. There is clear trend to punish and fine broker for whatever reason, regulators and governments need money, also if you don't get paid you cannot pay taxes from profits, so you are always right and public is on your side always.

 

[FXWarriory]

IMHO, it won't help. When a broker keeps a backdoor in his own terms and conditions that he cancel trades, it's a dead end. Regulators shouldn't even allow such terms. Whatever trade the broker doesn't like, they will just cancel it. I'd really like to see them cancelling a losing trade for such conditions (latency prices as they call it), it never happened.

There's never a loss in filing complaints at regulatory bodies. Scam Brokers bet on less clients complaining, having the mentality of it will end as nothing!!

 

[FXWarriory]

Same happened to me. Just report them to CySec via Cyprus Securities and Exchange Commission and spread the word on Forums, they will hurt theirselves in the long run because potential clients who read this will NOT open an account with XM.com, and that will cost XM.com a lot more money compared to the money they´ve made back by canceling your trades. Just spread the word and always report to the regulators! XM.COM and now IronFX pulled off the same tricks with me (see this Forum).

Open a new thread if you have a bad experience with XM, esp. if you still have evidences on that..screenshots...and leave a 1 star on its review page.

 

[FXWarriory]

what is the value of such investment company's activity for public and clients? - negative, so they definitely must be shut down and these people must be kept far away from handling client's money. You can do their internal complaint procedure to get official answer, parallel report to consumer protection centre in Cyprus and your own country, Web Filter . and point out unfairly contract terms. also refer to other other regulator's actions - numerous cases in US. There is clear trend to punish and fine broker for whatever reason, regulators and governments need money, also if you don't get paid you cannot pay taxes from profits, so you are always right and public is on your side always.

Exactly, with more clients complaints, it had been proved that regulatory bodies will act against scam brokers even if regulated, sooner or later.

 

[Amin EL-HAKIM]

Exactly, with more clients complaints, it had been proved that regulatory bodies will act against scam brokers even if regulated, sooner or later.

Actually, as many of us know, regulators don't care much about complaints at first, but eventually, when they decide to investigate the broker, then the audit will reveal the hidden facts. So yes, drawing regulator's attention is pretty much important.

 

[FXWarriory]

Not all regulators Amin, not all. FCA and CFTC take complaints very seriously and fined many brokers.
Despite FCA and Cysec recklessness in fining department but they take good decisions sometimes.
Also, ASIC woke up recently and started chasing unregulated and scam brokers.

The main idea is not to give scam brokers the impression of less clients would complain, so they scam as much as they like

 

[FXWarriory]

*NFA and CFTC(can't edit my posts, any help AsstModerator)

 

[Amin EL-HAKIM]

*NFA and CFTC(can't edit my posts, any help AsstModerator)

lol.. you should be banned for posting too much... hahaha... I just noticed I just made Sergeant.

 

[FXWarriory]

lol.. you should be banned for posting too much... hahaha... I just noticed I just made Sergeant.

Wondering why am still sitting in 1st Class despite a good student

Anyway, Private and 1st are Great