XM.com (was Trading-Point.com, was XEMarkets.com)

lordoftruth

Private, 1st Class
Messages
102
After 4 years of collaboration with XM Trading Point and 6 months as official representative in Romania
( on Past before changed its name to XeMarkets).
After I got:
214 Real Accounts
16 Sub-Affiliates
$10316.34 Total Commission
What was the price !!!
All of us Know : "There are two ways you can lose money as a trader: on one hand by unsuccessful trades and on the other hand through theft. If the account password was cracked by an outside source, We can't hold the broker responsible for the trades. What we can hold the broker responsible for is providing us with a complete list of IPs that accessed the account at different times. If the broker won't provide this, then the assumption should be that they likely inserted a fake trade when we was offline".
On my case : The trades did not come from outside the company on the end of 2012 as one of XM staff tried to destroy my accounts two times and XM recovered my accounts ( 10545 and 40261) on the start of 2013..
Two times.
XM recovered my accounts as follows:
_The first time on 11/01/2013...10545 : 820.63 balance 40261 : 3920 balance and 2024 bonus
_The second time on 04/02/2013... 40261 - 2730 $

Everything going fine till 15 Aug/2013
the problems started after this date

My Account 2130682,
The first fake trade was done Between 15 Aug and 01 Sep 2013 On 15 Aug 2013 I spoke from Bucharest Airport by phone with XM to close all my gold orders...
because I had some problem with my laptop..
the orders was closed and the last time that I logged (188.26.170.182-RCS & RDS-Residential-Romania) to my account was 15 Aug 2013 before my travel to Syria to check my balance 5400$ cash ( account 2130682).
I left Syria on 1 Sep 2013... So between 16 Aug 2013 and 01 Sep 2013 I will not able to trade or to check my account..When I came back to Romania I found on my account 2130682 only 3000$ cash!!

Account 2130682,
Fake trade was done again on Dec 2013 Monday Dec 02/2013
I had on it 3806$ cash Most of the month I was on hospital for some investigation .. When I checked it..I found the account empty !!!!

Account 2159639,
Another fake trade was done 21 Jan 2014 ..this time 1830 euros cash gone with the wind..

Any time I wrote I received a phone call from one of angry staff..

I contacted the Ceo many time by FB to inform him about my case and every time he wrote
"No problem my friend. I ll check your case personally!"
the last time was on on 29 Jan 2014 and I got no answer from him till this moment..

I contacted XM on 29 Jan 2014 by e-mail to ask them kindly to:

1_Check :

_2130682 (5400$ cash), Between 15 Aug and 01 Sep 2013 after my call to XM to close all my gold orders before my travel to Syria ( 15 days in Syria)
to see how my account become 3000$ cash!! ( Losses 2400$ cash )

_2130682 (3806$ cash) , after 02 Dec 2013 ..6.00 A.M Morning ( most of the month on hospital) to see how become 0 $ ( Losses 3806$ cash )

_2159639 (1830 Euros) , after 21 Jan 2014 to see also how become empty ( Losses 1830 eurs cash )

2_Recover my accounts.

The result was angry call from my account Manager
That She was very angry!! She said:
" ...The person that he did the fake trade left XM for a long time...It is not our fault .. we pay you !!!!!! It is you responsibility..physically it is not possible..sorry for bad news.."

On 12 Feb 2014 I wrote to them again hopping to receive a final and clear decision in order to recover my accounts.
The result was another short and angry phone call from Andreas Pouroutis on 18 Feb 2014
He let me feel that his calls to me was a kind of warning..
From his words "...we lose with you..Recovering became habit..do you want to report about us..do not forget you are our partner.. it is not our fault ..XM will not pay you ..bla..bla..that is..)

On my own responsibility, I declare that: I did not open or close any order on the above periods.
The fake trades ( 8715$) was come from inside (or with help from inside) the company..as on the past .. But XM did not want to recover my accounts
 

Raluca

Recruit
Messages
1
I have very big problems with XM and it seams that even if I have been very diligent in my relation with them they still refuse to refund my profits. I would like to open a case and put all the evidence in front and all the email I had with them and try to clarify the issue. For now I would say that they did not researched my case very seriously and that is why they have refused my payment and they can review they decisions.
 

ilearn2t

Sergeant Major
Messages
711
Hello XM.com

Dear tudoan,

Bonus does not have to do anything with our decision to terminate your trading account The problem is that hedged positions were opened minutes before the NFP release to take advantage of sharp price movements and our favorable trading conditions (negative balance protection, fast execution, and high leverage). This allowed you to generate abnormal and almost risk-free profit that after the internal investigation was considered as invalid.

In the email conversation with me, you denied having opposite position and that you are unaware of the opposite position in the second account but later you said friends have access to your account and that they could have copied your trade. Later, you have finally admitted that the owner of the second account is your friend.

This, coupled with the fact that you were asking our customer support prior to enraging in activities that can be considered as fraudulent, clearly indicates that hedged position were opened not in the course of normal trading activity, but to exploit company's trading facility and you well aware of the opposite position in your friend's account.

Kind regards,
Andrey
Can you clarify a few points for me please:

I spotted this reply (quote above) on another thread, and need a bit of advice please.

I have been trading with your company for a few weeks now, (love your contests) but I notice you might have some rules in place that I never noticed in your terms, but these could effect my decision went trading with your brokerage firm and giving feedback to my thousands of members/clients/friends .

1) If one of my group open an account and places a trade opposite to myself will one or both account/s be canceled like seems to have happened in your above quote ?

2) I program EA's that can place both BuyStops/SellStops, these orders not only have a "hedging" program build in, but also could cause a "Lock" profit depending on the movement of a currency while one or more orders are pending, does your broker allow both scenarios ?

3) Does you brokerage make profit on your clients "spread" value only or act like a "bucket shop" as it would be stupid for two friends/traders to place opposite trades on the same pair at the same time, as one will win, one will lose, but both will lose "spread" and or "swap" value difference, they could however take a chance and allow one trade to take place in the hope it succeeds and cover it with the other on another account only if you as a broker disallows hedging from one account ?

4A) Do you allow 24 hour trading 5 days a week or (4B) limited or no trading allowed during possible "high" volatile periods (economic calendar reports) etc.

5) My EA seems to have been disable after my first few winning orders, unlike other brokers platforms where they operator without any problems, I'm testing it on a "mini" account funded by deposits won on your contests (only) money, do you think I might have broken any rule. (Account 11159076).


Good luck
ilearn2t
 

ilearn2t

Sergeant Major
Messages
711
Hello XM.com

Thanks for the very quick withdrawal (less that 20 minutes from withdrawal request to moneybookers account) , but I would appreciate if you could answer one or more of my request in my message above.

Good luck
ilearn2t
 

ijustknow

Private
Messages
23
hello all
i have account number 11117718 at xe markets with balance of 12000 $ they refuse to verify it although i sent all papers they want i sent my passport civil id and certified bank statement they stay 1 month promise me to verify it and already called me and told me they accept my papers and at end they close my account and refund my 500$ deposit i hope no one deal with this scam broker
If it is true, this broker will be the worst scammer in the world, I want to know what happened after that.
 

costaricafx

Recruit
Messages
5
I have been usinf XM for a year

I have had a year of experience with XM.com and have no gripes. I have their loadable card as well asn it work very well both online and at POS. The only issue I can say I have had was with a withdrawal as the bank never posted the funds to my credit card and in fact it took the bank 2 weeks to get it done but that was a local issue and not an issue with XM. I did send in a review of XM and it was never posted. I guess maybe someone does not want positive reviews or experiences.

Review Moderation Team Note: Anyone looking at XM's reviews can plainly see that many positive reviews have been approved. If you had contacted the FPA, we'd have been happy to explain why your review was not approved. It had nothing to do with the rating you gave. Please use the "Contact Us" link at the bottom of the page instead of making up conspiracy theories.
 

pipdreaming

Private, 1st Class
Messages
81
Except massive slippage, do you find any other fraud behavior? especially withdrawl problems?
<img src=http://www.etorofx.net/images/vbet/flags/clear.gif style=display:none>
Massive slippage can be cause by bad internet connection... or lag. You can test it by "pinging" the trading server from your computer by using the command "ping -a IP" in the terminal.
You can also use the command "tracert IP" to see where is the connection problem if there is one.
 
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