XM Markets have taken my profits!

[Gladiator76]

Dear Gladiator76,

I can assure that our system is robust but there have been several isolated cases when traders used a highly sophisticated software which allowed to obtain and compare institutional price feeds to pricing on XM's platform, and exploit arbitrage scenarios.

This cannot be deemed as an acceptable strategy as it creates an environment which does not follow the fair rules of trading and makes the strategy essentially risk-free. I would like to stress out that no trades were delayed and this particular case involves a client who was using prohibited trading software and techniques.

Lastly, on those rare occasions when a trade might have been affected by an error in execution, we do provide fair compensations regardless of profit or loss on this trade.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)

Let's say I accept your explanation about using a sophisticated software although I never heard of it, but how did you know for sure that the trader is actually using this sophisticated software? Is it because he was profitable most of the time? Don't you think it is possible for a trader to be profitable most of the time? Please let me me know your explanation on this since as I said before, many people complain that you removed their profits for this same reason, so excuse me if I am a bit skeptical about your explanation.

 

[angrywater]

Yes this happenned to me with another broker and they did refund me, so there are honset brokers out there although very few.

I am a victim, too, wiped out all my deposit last Friday, I was doing hedging and still making profit before the EURUSD spikes. I have a pending buy order to prevent it goes too high, XM even add 30 pips up of my pending buy order and made it executed caused even more huge loss 3 seconds later then auto closed all my lots to wipe out all my deposit and credits.

Would you please tell me which broker is so honest as you said here? If it is not allowed by the FPA rules, please PM me, thanks.

 

[Gladiator76]

I am a victim, too, wiped out all my deposit last Friday, I was doing hedging and still making profit before the EURUSD spikes. I have a pending buy order to prevent it goes too high, XM even add 30 pips up of my pending buy order and made it executed caused even more huge loss 3 seconds later then auto closed all my lots to wipe out all my deposit and credits.

Would you please tell me which broker is so honest as you said here? If it is not allowed by the FPA rules, please PM me, thanks.

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I can't post in public here since I don't want to do any advertising for any broker, and the fact that this broker was honest with me does not give any assurance whatsoever that they will be with you. I am just stating my personal experience.

 

[stevesmain]

you would likely have been caught with most brokers on NFP friday .. it was a rapid market swing that is treacherous to trade around

 

[alexx71]

It seems is becoming an habit for XM delete the profits, anyway I still waiting the answer to my question .... ( 6 months ) let's see their defense...

 

[alexx71]

Guys you see how the broker escape when they must admit that they are guilty ! No answers !
About me, I've already taken my decision : I will never invest a cent in XM !!

 

[Talaat Said]

Dear Kirst1,

Following a thorough investigation of your trading account, it has been concluded that the transactions carried out in your account were aimed at exploiting price latency arbitrage opportunities on our Company’s trading platform and at taking advantage of the internet delays which do not reflect the market rates at the time your trades were executed. This was achieved through the use of artificial intelligence software that allowed you take advantage of inefficiencies in pricing.

We sent you a request asking to stop using this software but you have failed to comply and continued exhibit the same trading patterns that we consider to be abusive. At this point, we had no other option but to terminate your account.

Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)

 

[Talaat Said]

https://www.forexpeacearmy.com/community/members/xm.97618/

 

[alexx71]

My questions are still with no answer after a so long time !
Beware to XM broker, when you begin to make money they will confiscate your profit !
And obviously until you have losses.... no problem !

 

[Pharaoh]

You might have better luck getting your questions answered if you had you own discussion thread.