XM Markets have taken my profits!

[Kirst1]

I traded with XM for a few months and made a modest profit just shy of £1000.
I received an email telling me in no uncertain terms that I was exploiting their service by using latency trading! I have responded with a formal complaint and received another email repeating their previous accusations and offering no evidence or explanation whatsoever. I have worked really hard at getting my trading knowledge to this point and am disgusted that a broker like this can simply cancel profits on a whim, citing no evidence and expect clients to just walk away! Disgusting. absolutely disgusting. I've submitted a complaint to the OCA in Cyprus.

 

[Alonedevils]

This Problem Solved ?
If Not, Try Invite Them To This Thread ..

 

[tsai sze ling]

4 open cases in scam alert folder against XM in a months.wow...
XM. Your client trust is still good. Take care of it. Look at Ironfx who not processing withdraw. Do you think client still trust them and put money on Ironfx?

 

[alexx71]

4 open cases in scam alert folder against XM in a months.wow...
XM. Your client trust is still good. Take care of it. Look at Ironfx who not processing withdraw. Do you think client still trust them and put money on Ironfx?

XM is another broker like IronFx that keep the profits of profitable traders and has a lot of excuses to not pay !
The only way to work well with XM is lose money, if you lose money no problem for them !!

 

[Gladiator76]

4 open cases in scam alert folder against XM in a months.wow...
XM. Your client trust is still good. Take care of it. Look at Ironfx who not processing withdraw. Do you think client still trust them and put money on Ironfx?

I could not find any opened cases against them. And even in the reviews, it says that there are no open cases against them. But there are many reviewers saying that they took their profits, and XM always gets back with the same excuse for removing their profits. Just check the reviews and you will know that there is something not right with this broker.

 

[alexx71]

XM cancelled my profits. Same stupid excuses like Ironfx about latency. In this way they keep for them the profits, but no
problem when you have losses.... so losses are ok, winners are contestable. Another SCAM broker to avoid in my opinion,
anyway when I requested withdraw of deposits I had no problems.... so IronFx is worse.

 

[alexx71]

This Problem Solved ?
If Not, Try Invite Them To This Thread ..

XM Disappeared in FPA, their representatives are not able to answer to my question here :

https://www.forexpeacearmy.com/fore...d-profits-generated-legal-news-trading-2.html

Around 5 months ... 150 days with a NO ANSWER from them to a my BASIC question... so you can take your conclusion about XM broker....
about me I never will put a cent in this company !!!

 

[tradeinvest]

I have the same bad experience with XM. When I was losing money, everything was ok, but when I make some profit and want to withdrawal some funds, I also received an email telling me that they had canceled my trades due to abusive trading strategies aiming to exploit price latency arbitrage opportunities identified. Of course It's something I have not been doing.

It's absolutely disgusting how are they cheating their retail clients with no evidence. I will also file a case in Cyprus Securities and Exchange Commission.

 

[veri5]

all this is regulator's toothless irresponsibility, why in USA all is opposite? look here NFA issues $200,000 fine against New York forex firm Alpari US LLC

 

[Gladiator76]

Exactly, the same excuse used with all the traders. It does not seem realistic that all those traders managed to exploit their system. What they are basically saying is that their system sucks, or they just don't want to give people their profits, but I am tempted to believe the second choice since they only bring this excuse when people are winning, but they don't seem to have a problem on their system when people are losing .

I think you should open cases against them here since nothing warns people of such brokers like opened cases which will even show in their review.