samarrathore
Recruit
- Messages
- 9
XM Deposit Scams and Fraud 
Traders stay far from this Fraudulent Broker
It's been more than 20 days of missing
On 24 May, I deposited ₹50,000 through the deposit process provided inside the XM app. To make the deposit, XM redirected me to a third-party payment gateway where a QR code was generated. I scanned the QR code, completed the payment successfully, and immediately submitted the UTR number and payment proof as instructed.
To protect myself, I took screenshots of the entire deposit process from beginning to end, including the XM deposit page, the third-party payment gateway, the generated QR code, the payment confirmation, and the UTR details.
However, the funds were never credited to my XM wallet. Days passed, and I repeatedly contacted support. The response I kept receiving was that the matter was "under investigation" and that I needed to wait longer.
Now, more than 20 days later, my ₹50,000 deposit is still unresolved. What makes the situation even more concerning is that XM has reportedly stated that the payment slips I provided do not belong to their PSP.
As a customer, this raises a simple question: if the payment slips do not belong to XM's PSP, then why was I redirected to that payment page through the XM deposit process? If the payment page and QR code were not part of XM's authorized system, that would be a serious security concern. If they were part of XM's authorized deposit process, then customers should not be left bearing the consequences of issues involving third-party payment providers.
Throughout this process, I have received no clear explanation regarding where my money is, who is responsible, or when the issue will be resolved. I also attempted to contact my account manager and support team multiple times but received little meaningful assistance.
Customers trust XM when they deposit funds through the methods provided on the XM platform. When a deposit goes missing, customers deserve transparency, accountability, and timely resolution—not weeks of uncertainty.
I am sharing my experience so that other traders can be aware of the risks involved when deposits are processed through third-party payment providers. I hope XM investigates this matter thoroughly and provides a fair resolution for all affected customers.
Traders stay far from this Fraudulent Broker
It's been more than 20 days of missing
On 24 May, I deposited ₹50,000 through the deposit process provided inside the XM app. To make the deposit, XM redirected me to a third-party payment gateway where a QR code was generated. I scanned the QR code, completed the payment successfully, and immediately submitted the UTR number and payment proof as instructed.
To protect myself, I took screenshots of the entire deposit process from beginning to end, including the XM deposit page, the third-party payment gateway, the generated QR code, the payment confirmation, and the UTR details.
However, the funds were never credited to my XM wallet. Days passed, and I repeatedly contacted support. The response I kept receiving was that the matter was "under investigation" and that I needed to wait longer.
Now, more than 20 days later, my ₹50,000 deposit is still unresolved. What makes the situation even more concerning is that XM has reportedly stated that the payment slips I provided do not belong to their PSP.
As a customer, this raises a simple question: if the payment slips do not belong to XM's PSP, then why was I redirected to that payment page through the XM deposit process? If the payment page and QR code were not part of XM's authorized system, that would be a serious security concern. If they were part of XM's authorized deposit process, then customers should not be left bearing the consequences of issues involving third-party payment providers.
Throughout this process, I have received no clear explanation regarding where my money is, who is responsible, or when the issue will be resolved. I also attempted to contact my account manager and support team multiple times but received little meaningful assistance.
Customers trust XM when they deposit funds through the methods provided on the XM platform. When a deposit goes missing, customers deserve transparency, accountability, and timely resolution—not weeks of uncertainty.
I am sharing my experience so that other traders can be aware of the risks involved when deposits are processed through third-party payment providers. I hope XM investigates this matter thoroughly and provides a fair resolution for all affected customers.
