XM Refuse to give my deposit balance .

Chris Zacharia

XM.com Representative
Messages
30
I sent all what they required and the account manager speak to me and did what he required (selfi ,ID ) but no reply from them and still blocked my moeny and they not refund the loses that they caused , tried the top company invitation option on the top but not work ?any help @4evermaat
Dear Rafiq Ahmed,

Kindly note that I have investigated the issue raised in your review and I can confirm that any actions taken in relation to your trading account with our Company were fully in line with our Company's Terms and Conditions
.
Particularly, I have been informed that we have evidence confirming that you were connected, through the same trading information, including but not limited to IP address, with former clients of our Company with whom our business relationship was terminated due to the violation of the Terms and Conditions of our Deposit Trading Bonus program.

In view of the above, suspicions were raised in relation to the management of your account and therefore, prior to refunding the deposited amount we needed to confirm your identity and as such, the relevant department of our Company informed you of the latter via email.

In this respect, please note that the relevant department is currently assessing the provided documents and your withdrawal request will be processed accordingly.

At this point, I would like to inform you that the trading accounts are intended for personal use only and therefore third party management is considered as a violation of the Terms and Conditions of Business.

Thank you,
 

The Punisher

Sergeant Major
Messages
647
Still they not response to me ,how to complain them to IFSC ,is it deserve to try? ,please help @4evermaat
Hello Rafiq, below is some additional information about the hosting for the xm.com website. Their website has an IP of 104.99.65.182 and the site is hosted by Akamai Technologies on a server in Washington State. Akamai is a publicly traded company and must under US laws, both SEC and FTC, remove hosted sites that are actively and knowingly committing fraud.

Above Chris Zacharia is stating you used third party management of your account which is a violation of their T&C's. It will be interesting to see proof of the "3rd party management" claimed by XM. If XM continues to push you around and won't return your funds then file a complaint with Akami. If you need assistance please let me know.


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FPA Forums Team

Caution: Moderators at Work
Messages
376
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The FPA invited the Original Poster to update this discussion on Dec 10, 2020 at 5:12 PM
 

Rafiq Ahmed

Recruit
Messages
8
Dear Rafiq Ahmed,

Kindly note that I have investigated the issue raised in your review and I can confirm that any actions taken in relation to your trading account with our Company were fully in line with our Company's Terms and Conditions
.
Particularly, I have been informed that we have evidence confirming that you were connected, through the same trading information, including but not limited to IP address, with former clients of our Company with whom our business relationship was terminated due to the violation of the Terms and Conditions of our Deposit Trading Bonus program.

In view of the above, suspicions were raised in relation to the management of your account and therefore, prior to refunding the deposited amount we needed to confirm your identity and as such, the relevant department of our Company informed you of the latter via email.

In this respect, please note that the relevant department is currently assessing the provided documents and your withdrawal request will be processed accordingly.

At this point, I would like to inform you that the trading accounts are intended for personal use only and therefore third party management is considered as a violation of the Terms and Conditions of Business.

Thank you,
@Chris Zacharia appreciate your response but be informed that i am new in XM i am not use any deposit or non deposit bounce i trade by my deposit money only , you have the account to you can confirm by yourself ,so it sure my account caught by false signal , although this not justifying to close my trade and blocking my deposit . hope it solved and closing this issue.
 

4evermaat

2nd Lieutenant
Messages
2,133
@Chris Zacharia what does this have to do with XM arbitrarily closing trade without it hitting SL or margin stop and stealing client deposit?!?

Seems like a pattern of doing this only when the client is profitable or potentially could be profitable.

@Rafiq Ahmed you can consider a complaint to IFSC.

I hope in the future you will study the business model of the forex broker FIRST before making a deposit. So many seem to deposit just based on a simple google search, with little understanding of what clever, ponzi-like tricks await them.

in the mean time, you can leave a review of your experience here:
 

Rafiq Ahmed

Recruit
Messages
8
@Chris Zacharia what does this have to do with XM arbitrarily closing trade without it hitting SL or margin stop and stealing client deposit?!?

Seems like a pattern of doing this only when the client is profitable or potentially could be profitable.

@Rafiq Ahmed you can consider a complaint to IFSC.

I hope in the future you will study the business model of the forex broker FIRST before making a deposit. So many seem to deposit just based on a simple google search, with little understanding of what clever, ponzi-like tricks await them.

in the mean time, you can leave a review of your experience here:

Still they ignoring my mails to them , I sent complain to IFSC using the link you provide .
 

Rafiq Ahmed

Recruit
Messages
8
Dear Rafiq Ahmed,

Kindly note that I have investigated the issue raised in your review and I can confirm that any actions taken in relation to your trading account with our Company were fully in line with our Company's Terms and Conditions
.
Particularly, I have been informed that we have evidence confirming that you were connected, through the same trading information, including but not limited to IP address, with former clients of our Company with whom our business relationship was terminated due to the violation of the Terms and Conditions of our Deposit Trading Bonus program.

In view of the above, suspicions were raised in relation to the management of your account and therefore, prior to refunding the deposited amount we needed to confirm your identity and as such, the relevant department of our Company informed you of the latter via email.

In this respect, please note that the relevant department is currently assessing the provided documents and your withdrawal request will be processed accordingly.

At this point, I would like to inform you that the trading accounts are intended for personal use only and therefore third party management is considered as a violation of the Terms and Conditions of Business.

Thank you,

@Chris Zacharia ,How long the relevant department will take to solve my issues ? ,almost 25 Days passed , please check and solve the issue .
 

Alonedevils

Master Sergeant
Messages
315
I have used their services for the past few years. there are no problems with withdrawals or deposits ..

In this case, they said there was a discovery of a similar client IP address that had previously been terminated due to trade violations? What is this ? arbitrage? or the client tries to take advantage with a rebate or deposit bonus?

it looks like something is wrong here, needs a deep explanation
 

4evermaat

2nd Lieutenant
Messages
2,133
I have used their services for the past few years. there are no problems with withdrawals or deposits ..
You can have a look at what lengths they will go through to mess with client's trades here:

Or this guy, who was a cheerleader also (and brought in other clients) and they even screwed him.

Or the other numerous alleged cases where the pattern is similar. Either clients are abusing their $30 no deposit bonus (mysteriously only when they win) or people who deposit and start winning big are accused of arbitrage or otherwise have their trades cancelled. Deposit is returned on a few occasions depending on XM's prerogative.

Honestly, not sure why traders are in a hurry to deposit with a broker operating such a business model. But I've seen just about everything in this scam folder. Hardly anything surprised me anymore.
 
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