XM Global not complying to their regulations

4evermaat

2nd Lieutenant
Messages
1,906
@Milly2000 There is no honor among thieves. Anytime XM loses, they can just claim abusive trading practices, which they supposedly have sole discretion to arbitrate.

If they don't pay you your deposit or profit, this is a good case for Trader's court. Do not abandon this thread.

Also, auto-record all phone conversations, most android phones have this ability. Really you should deal in writing 100% and if they call just politely request that they email their correspondence. But in just in case.
 

4evermaat

2nd Lieutenant
Messages
1,906
@Milli2000 any progress on your withdrawal? They claimed they returned the $1,000 to the source of the deposit, and they are still reviewing the other $1,300+. There is never a reason for a legitimate broker to hold any portion of your withdrawal request. They are just stalling for time, hoping you will just forget about your own money. I encourage you to read this post and become informed and prepared. Please don't give up.

@yassinlachgar You can leave a review of your experience here: https://www.forexpeacearmy.com/forex-reviews/7214/xm-forex-brokers. If you have a scam to report. you need to open a separate thread. The other community forums are there if you want to write a more detailed review.

I see XM are still offering bonus incentives to get people to sign up. And holding people's withdrawals that are profitable and offering ridiculous reasons for doing so. I thought regulated brokers were banned from such activities. Are they a serious financial institution, or b-book broker focused on their client's demise the quickest way possible?

@AsstModerator, @FxMaster, and others, do you agree that XM "correctly rejected the client's withdrawal request?"
 

4evermaat

2nd Lieutenant
Messages
1,906
@Milli2000 any progress on your withdrawal? There is never a reason for a legitimate broker to hold your withdraw. They are just stalling for time, hoping you will just forget about your own money. I encourage you to read this post and become informed and prepared. Please don't give up or abandon your thread

@yassinlachgar You can leave a review of your experience here: https://www.forexpeacearmy.com/forex-reviews/7214/xm-forex-brokers. If you have a scam to report. you need to open a separate thread. The other community forums are there if you want to write a more detailed review.

I see XM are still offering bonus incentives to get people to sign up. And holding people's withdrawals that are profitable and offering ridiculous reasons for doing so. I thought regulated brokers were banned from such activities. Are they a serious financial institution, or b-book broker focused on their client's demise the quickest way possible?

@AsstModerator, @FxMaster, and others, do you agree that XM "correctly rejected the client's withdrawal request?"
 

Turbocharger

Recruit
Messages
6
Hello,
I face a similar problem with XM Global (xm.com) broker. Except that the my initial deposit IS also locked in with them, with the argument that my bank did not sent me an official mail stipulating that my card number and account number have been closed. So, I cannot withdraw funds, because they pretend my bank is obliged to send me detailed bank account/card closure mail.
The emails I transferred to them from my bank do not clearly mention my bank account number/card number.

Whereas FIBOGROUP, for example, allowed me to withdraw with Skrill, once they got the proof that Neteller doesn't support my country anymore.

I will try to complain directly with their regulator (Belize). Seems like it is very very hard to withdraw money from them, if not impossible. They try to find to find your weak point instead of tryng to help you. Don't use new anti-laundering rules or regulation as an argument. I sent them clear enough proof of what I pretend (impossibility to obtain more information from my bank and sure anough proofs to prove my credit card number).
So, for me, it is a scam, personnally. Any respectable broker in UK/France would have allow me to withdraw my funds with the elements I sent to them. The better than the good, isn't good itself.
I finally got my money back. Infact, a fraction of it, because all the efforts that XM obliged me to do to get it back, I lost patience, and finally considered that this money was unrertrievable. So, I traded like a fool and took big risks, considering that I had nothing to loose. I know that XM was just complying with anti-laundering rules, but hey, I am still a human sometimes. I can have bad feelings... never had this kind of issue when I could trade with good leverage using Europe regulated brokers. The EU is to blame.
 

4evermaat

2nd Lieutenant
Messages
1,906
I finally got my money back. Infact, a fraction of it, because all the efforts that XM obliged me to do to get it back, I lost patience, and finally considered that this money was unrertrievable. So, I traded like a fool and took big risks, considering that I had nothing to loose. I know that XM was just complying with anti-laundering rules, but hey, I am still a human sometimes. I can have bad feelings... never had this kind of issue when I could trade with good leverage using Europe regulated brokers. The EU is to blame.
@Turbocharger, again, you must open your own scam alert thread and submit evidence of wrongdoing, communications with broker, and any success you have had in getting paid. Cross-posting in other threads does not help, especially without evidence.

@Milly2000 can you provide an update to your situation?
 

Mr McCall

Recruit
Messages
2
Hi,
I am new both to trading and on this platform. I got here because I was trying to Google an issue with xm. The thing has to do with my deposit amount not reflecting in the trading account, when I do via Dusu Pay. It first happened and I had to provide a lot of documentation before they credited.

I'm wondering if anyone has encountered such a problem with xm. I don't want to hate forex because of issues like this. I don't want to be worried about my money every time I deposit.

I wish things really worked smoothly.
 

Mr McCall

Recruit
Messages
2
Hi,
I am new both to trading and on this platform. I got here because I was trying to Google an issue with xm. The thing has to do with my deposit amount not reflecting in the trading account, when I do via Dusu Pay. It first happened and I had to provide a lot of documentation before they credited.

I'm wondering if anyone has encountered such a problem with xm. I don't want to hate forex because of issues like this. I don't want to be worried about my money every time I deposit.

I wish things really worked smoothly.
I'm going to give it time. Maybe 48 hours and see. Maybe when markets are open I can chat a correspondent who are very nice about this. Other than this, I just love XM and look forward to trading more.
 

4evermaat

2nd Lieutenant
Messages
1,906
Hi,
I am new both to trading and on this platform. I got here because I was trying to Google an issue with xm. The thing has to do with my deposit amount not reflecting in the trading account, when I do via Dusu Pay. It first happened and I had to provide a lot of documentation before they credited.

I'm wondering if anyone has encountered such a problem with xm. I don't want to hate forex because of issues like this. I don't want to be worried about my money every time I deposit.

I wish things really worked smoothly.
I'm going to give it time. Maybe 48 hours and see. Maybe when markets are open I can chat a correspondent who are very nice about this. Other than this, I just love XM and look forward to trading more.
Please open your own scam thread and submit evidence:

 
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