I would like to file a case against XM they don't follow their regulations I deposited 1000USD and traded and made a profit of 1340 USD and further placed a withdrawal, this happened on the 16th January and so they did not process my withdrawal and said my account was under investigation they will get back to me within 24 hours and so I complied and granted them the time period that they specified and said they would further report to me if there was an issue with my account whatsoever and so they got back to me after their 24 hours had expired and asked me for the strategy I had used to make my profit, bear in mind they didn't report back to me stating if there was or was no problem with my account and bear in mind my account with XM was opened earlier 2018 it wasn't even this year and so they said they had to validate or confirm my account, an account which was so old... But they now said I need to confirm my identity which I confirmed when I received their 30USD welcome bonus early 2018
Then they further had their support team call one of their representatives which was Aneta and she asked for my ID number which I confirmed and my address which I did that as well
Then they emailed me again and said as per their anti money laundering policy they had to with hold my funds and that this was forex policy and so I went to read their conditions and nowhere did I find that after I deposit money into my forex account and make profit a broker is allowed to disable my account and with hold my funds alogg with my initial deposit included and so I confronted them about the regulations of anti money laundering policies and one of their agents ended up saying they would reverse my money which they didn't do, after some time I contacted them again telling them it was not allowed and they were trying to lie to me thinking I'm not aware of bonus conditions so after fighting them with facts and law they decided to only return 1000USD to my account and started asking that I send them documents of my personal bank account ID document and proof of address I then further told them I was not comfortable to post physical copies of my personal documents through the hands of a third party because those documents have my banking details and my entire identity but I'll have them certified scanned and emailed to them and so they agreed, which was over a phonecall and so when I finally sent the documents through to them certified and everything they then said that I had to post physical copies despite the fact that it wouldn't change anything and so I had to take my funds again and make physical copies and have the documents certified and physically posted again at my cost and I'm doing all these things without the knowledge of what's wrong with my account because there are no inconsistencies whatsoever I provided all the information they required of me to provide.
Then to my surprise they start emailing me asking for the trading strategy I use and I should share with them how I trade for which reasons I am still in the dark till today
Once I told the representative that I was going to file a case on FPA and they said no FPA will only make the process longer and so I waited for them to handle it and it's been a month no feed back I also asked them that if I did anything wrong why do they not open a case number for me with XM which I can track and follow up on it has been over a month I still don't have a case number my money hasn't been processed only my initial deposit has but my profits are locked in
So I would also like to enquire if are brokers allowed to ask for physical copies of ID banking details which include your bank account number and card number as well as address because I feel like that compromises my safety to scams especially when this sensitive information has to pass through other parties and is not directly sent to them because they don't want them soft copy
Then they further had their support team call one of their representatives which was Aneta and she asked for my ID number which I confirmed and my address which I did that as well
Then they emailed me again and said as per their anti money laundering policy they had to with hold my funds and that this was forex policy and so I went to read their conditions and nowhere did I find that after I deposit money into my forex account and make profit a broker is allowed to disable my account and with hold my funds alogg with my initial deposit included and so I confronted them about the regulations of anti money laundering policies and one of their agents ended up saying they would reverse my money which they didn't do, after some time I contacted them again telling them it was not allowed and they were trying to lie to me thinking I'm not aware of bonus conditions so after fighting them with facts and law they decided to only return 1000USD to my account and started asking that I send them documents of my personal bank account ID document and proof of address I then further told them I was not comfortable to post physical copies of my personal documents through the hands of a third party because those documents have my banking details and my entire identity but I'll have them certified scanned and emailed to them and so they agreed, which was over a phonecall and so when I finally sent the documents through to them certified and everything they then said that I had to post physical copies despite the fact that it wouldn't change anything and so I had to take my funds again and make physical copies and have the documents certified and physically posted again at my cost and I'm doing all these things without the knowledge of what's wrong with my account because there are no inconsistencies whatsoever I provided all the information they required of me to provide.
Then to my surprise they start emailing me asking for the trading strategy I use and I should share with them how I trade for which reasons I am still in the dark till today
Once I told the representative that I was going to file a case on FPA and they said no FPA will only make the process longer and so I waited for them to handle it and it's been a month no feed back I also asked them that if I did anything wrong why do they not open a case number for me with XM which I can track and follow up on it has been over a month I still don't have a case number my money hasn't been processed only my initial deposit has but my profits are locked in
So I would also like to enquire if are brokers allowed to ask for physical copies of ID banking details which include your bank account number and card number as well as address because I feel like that compromises my safety to scams especially when this sensitive information has to pass through other parties and is not directly sent to them because they don't want them soft copy