XM.com (formerly Trading-Point.com) Review Visit site

Dear David,

Its neither fair or ethical for these kind of reviews, to be posted on the FPA.

You make a series of allegations against XM labelling us a “SCAM Broker”, “You say we are scam and I have proven it”.

If you wish to leave reviews that could be appreciated as real it’s advised to

a) Leave your account number so we can be able to investigate and provide a reply
b) Tell us exactly what your complain is
c) Let us know what you mean when you say “XM is a scam and I have proven it”

Without the details of bullets a),b),c) you are simply leaving an unverified review with no grounds for defence or reply.

I personally find it both unethical and not fair since I make an effort to reply and investigate all questions/comments/complaints posted on this page and make sure everything is resolved when needed.

Thank you,

Dear newrules,

The title of your review is “Not possible to withdraw profits”.

I think the title of your review does not really match what the problem in your case was and it’s a little misleading to users of the FPA.

Anyhow, firstly if you have the kindness can you please follow up with your MT4/MT5 ID in order for me to be able to check your account.

-

Now although I don’t have your exact MT4/MT5 from what you explain in your review what I understand is the following:

Depending on type of credit card/debit card used, the card companies and processing companies have rules which say for example:

That a card used to deposit can only accept back money from the same merchant within XX days. After those days pass the merchant (in this case XM) cannot send money back to the card (The card company or the processor) does not allow it.

Although I 100% understand your frustration about this, this is not a rule set out by XM but from the card companies and the processing companies. So its not in XM’s power to send you back your funds to the card you used to deposit.

So what happens in these cases is that the client needs to choose an alternative method of withdrawal.

Depending on the country it can be:

Wire Transfer, Neteller, Skrill (e.t.c) and so many others depending on the country.

In your case you choosed Skrill, but Skrill charged you a fee because your funds where in AUD. I understand this is not pleasant but please understand that Skrill’s fees are not related to XM.

Now in regards to the last part of your review about XM not accepting to take back the funds from Skrill if you leave me your account number I will happily check that and revert.

Thank you,

Dear Ethansal,

I have checked your case and what I see from our end is the following:

We cannot see any failed attempt to deposit via credit card. What we can see is that you visit the credit card deposit page but you do not complete all the steps in order to deposit therefore the transaction is never complete.

The only way I could possibly help you is if you send me a few screenshots of the screen you see when attempting to deposit via credit card.

Thank you,

Dear martinlamarque,

I am attaching below the last correspondence sent to you by our compliance department:

Following review of the issues raised in your email dated 28/09/2018 we can confirm the following:

A. Orders 13343994, 13344043, 13344053, 13344072, 13344083 and 13519951
We can confirm that you raised your dissatisfaction regarding the execution of the orders to the AMF and as such, when the AMF contacted us regarding your
complaint, we provided our detailed response and supporting evidence to the AMF (i.e., email sent by the Company to AMF on 15/05/2018).

Particularly, we had confirmed that your attempts to close the said position on 07/01/2018 were unsuccessful was due to the fact that the 7
th January 2018 was Sunday
(i.e., market is closed on Sundays – please refer to our website for the trading hours for the financial instruments offered by the Company). Also we had confirmed that
there were no technical issues during that timeframe and that your orders were correctly executed. We hereby stress the fact that the orders were closed by yourself (on
08/01/2018 and 09/01/2018), based on your own initiative and based on your trading strategies and risk appetite.
We still remain to our position stated in our response to your and to the AMF. In light of the fact that this matter has already been reviewed and addressed by the
Company and the AMF, no further action shall be taken from our side and no further correspondence will be entered into regarding this matter.

B. Orders 13349311, 13490342, 13490331, 13490322, 13490317, 13490312 and 13519945
We can further confirm that the above mentioned orders had been closed by yourself on 08/01/2018 at 12:15 (server time) (i.e., order 13349311) and 09/01/2018 at
12:15 (server time (i.e., orders 13490342, 13490331, 13490322, 13490317, 13490312 and at 15:42 (server time) (i.e., order 13519945), as per the instructions received
through your mobile device and personal computer.
In addition to this, we can further confirm that there was no technical or other issue to our systems/platforms during the timeframe in question, and in view that you are
not willing or able, as you claim, to provide us with the requested log files, we have no indication that your allegations are truthful or valid. Not only that, but, as per the
information available in our systems, we have confirmed that thousands of orders were successfully and correctly executed (i.e., opened, closed, etc.) during that
timeframe on the same instrument and server you are referring to.

C. Material / Supporting Evidence you provided

As stated in our previous responses to you, our platform providers confirmed that the log files you previously provided to us were modified and we strongly believe that you have done so in order to deceit the Company and find a justification to claim the loss incurred from your trading activity (i.e., based on your trading strategies and risk appetite).

The fact that the log files were indeed altered by you has been also admitted by yourself in your emails to us.

Having said that, following our initial investigation of the information and supporting documentation you provided us with your email dated 28/09/2018, it came to our attention that the images/screenshots included in the document (i.e., pdf file) looked abnormal and could also have been potentially digitally altered. In view of our suspicion, we forwarded the said screenshots to our platform providers for investigation and further review and they have, once again, confirmed that these are indeed modified. Particularly, they have confirmed that a non-modified screenshot from a device such as yours (i.e., iPhone), shall not have the “black gaps” on the top and bottom of the screenshot, as shown on the ones you provided us. Please see the red-circled parts on the screenshot you provided for your better understanding of what we are referring to:

https://d.pr/i/1wDZ8s (Link to the image)

In addition to the above, we consider it strange that you claim not having the log files we requested in order to facilitate our review, but yet you seem to have
screenshots for orders executed back in January. Not only that, but when we requested you to send us the original screenshots as taken from your device, you claimed, that your “phone was stolen” and were not able to. Also, you did not mention having any issues with the orders in question when you submitted your complaint with reference number TI20180003 which referred to orders executed in February.

D. Review Outcome - Final Response

In light of the fact that:

a) there was no technical or other issue to our systems/platforms; and
b) there are no indications that you attempted to close or your were not able to close the orders in question; and
c) the orders in question were correctly executed as per the instructions we received from you through your trading account/platform (i.e., closed by yourself); and
d) the supporting documentation you provided us to support your claims/allegations were modified in bad faith from you, it is our understanding that you are once again trying to benefit financially against the Company (i.e., claim the loss incurred in the account from your own trading activity) without any valid reason, by making false allegations and using deceitful means.

Taking into consideration all the above (i.e., correct execution of orders,
provision of digitally edited documents, etc.), we explicitly deny all your claims and reject your request for refund.

Please note that this is our final response and no further correspondence will be entered into in relation to this matter. Consequently, and since our business relationship has been terminated, none of the Company’s personnel shall respond nor communicate further with you regarding this matter. We reiterate the fact that the Company does not tolerate such behavior from its clients, and we stress to you that the provision of digitally edited/modified documentation from clients in their efforts to deceit the Company is something that we take very seriously.

Any further emails received by you, containing false allegations against the Company, shall be considered as harassment and the necessary legal actions shall be taken against you.

This email speaks for itself and it is sent to you without prejudice to any legal rights and/or remedies our Company may have in relation to this matter, now
or in the future.

Thank you,

Dear Gelaxx,

First of all in your initial post on the FPA you noted “XM BLACKLISTS CLIENTS WITH NO NOTIFYING EMAIL AND HOLDS DEPOSITS!”.

Following on your initial review I have explained that:

a) Your funds have not being held, since they were refunded;
b) The reason your funds were refunded is because our business relationship was terminated;
c) The reason our business relationship was terminated is due to the violation of our Terms and Conditions of Business from your side (i.e., you submitted a chargeback request received regarding a deposit made in your trading account). I had also very clearly explained what a chargeback is to the readers of this forum.
So to come back to your latest claim that “I mislead users”, I deny such statement and reject it as inaccurate; I have simply explained what a chargeback is and why your account was disabled.

Please note that the company takes the protection of its clients very seriously, and as a regulated entity, the Company has strict rules and procedures in place which are designed in such a way in order to prevent any kind of fraud, including potential credit card fraud. To this end, please note that the amount of a chargeback is not the main element to assess when we receive a chargeback request, but the chargeback itself is. That is because by performing a chargeback you are in essence claiming that you never made that transaction. The latter strongly suggests that either you are using a credit/debit card which does not belong to you or that you are using a credit/debit card which belongs to you but you claim to the bank that the transactions were not performed by you (i.e., that the transactions were performed by an unauthorised third party).

Now, I do understand that, as you claim, this might be a mistake from your bank, however, this is something you need to liaise directly with your bank for and straighten out with them.

As already stated, the company follows a very strict procedure in regards to chargebacks and as such, when a client submits a chargeback request, he/she the accounts of such client are disabled with immediate effect regardless of the amount. The reasons for the latter include, but are not limited to, the following:

a) The card used to deposit in the trading account is potentially stolen (in your case it was not and you claim it was an error/misunderstanding with your bank);
b) The client, in bad faith, is trying to deny he performed the deposit in question aiming to potentially get a refund for any loss incurred in the account due to the client’s trading activity (in your case you claim that it was merely an error from your bank’s side)

Although your issue, as you claim, has been a result of the actions of your bank, you used offensive language against me (i.e., you called me “Stupid”) and also asked for an Apology.

I can assure you that I make a very big effort here to solve all queries/problems and/or any other cases our clients may have and I always respond in a respectful and timely manner. As such, I do not appreciate you calling me “Stupid” and I don’t believe that asking for an apology in this case is appropriate, since the company acted fully in line with its Terms and Conditions of Business and you were the one who disrespected and used offensive language against me.

In view of the above, we regret to inform you that we remain to our position regarding the termination of our business relationship. With regards to the chargeback request, since this was a misunderstanding/error from your bank’s side, please liaise with them in case you need to express any further dissatisfaction in relation to this matter.

Thank you,

Dear takashi,

You post an allegation that XM is a “SCAM” however you don’t have the sincerity to leave us any details in order to be able to correctly reply or investigate your “problem”.

We would be more than happy to transparently and publically post a reply to any question/comment or complaint you might have but without an account number or a ticket number there is not much we can help with.

We don’t consider it very polite or ethical to make allegations or label XM with words like “SCAM” if we don’t know your case/account number or details in order to be able to reply.

Thank you,

Dear trovski007,

After 90 days of inactivity on a non-funded account our policy is to archive accounts.

However, that does not mean you cannot open a fresh account with XM.

Moreover, if you previously had trades with this archived account which has now been archived due to inactivity and you wish to request your account history this is possible to be sent to you via email after communication with your account manager.

Finally, the 1 star review is not fair at all.

Thank you,