martinlamarque Reviews

Review for XTB.com

M
Paris, France,
Oct 15, 2019,
Registered user

ERRORS MT4

Service use: Live Length of use: 3-6 Months
Hello,

I had malfunction on MT4, and my broker refuses compensation while the evidence is irrefutable, thank you kindly take note and authenticated errors so that my broker reimburses me (prejudice more than 40k €)

Unable to put SL / TP:

1) SCREENS: https://drive.google.com/drive/folders/1oNz4ZHWQUWUWDFahLhvHXYhmGMbPatwi

2) VIDEO: https://photos.app.goo.gl/SiUv7Wd63bKXikKa6

3) Video showing that everything works well at my other broker (beginning of video) and dysfunction at my broker: https://photos.app.goo.gl/dbm7ryFaNzp24cLo7


Best regards,
L. Martin
2 traders have found this review helpful
M
Reply by Xtb Ltd submitted Feb 7, 2020:
Dear martinlamarque,

We’re sorry to hear about your negative experience with XTB. However, it seems that you’ve been trading with XTB France, and not directly with XTB UK.

To help resolve this issue, we’ve been in touch with our French branch, who have assured us that they are aware of your case and are working on resolving this matter for you.

If you have any questions for XTB UK, please do not hesitate to contact us on uksales@xtb.com or +44 2036953086.

Regards,
XTB Management

Review for Libertex.org (.com)

M
Messanges, France,
Mar 15, 2019,
Registered user

URGENT COMPLAINT !

Hello,

I have evidence that Libretex has practiced deceptive and unfair commercial practices for many on their French site in announce to be regulated AMF then this is not the case!

It cheats, because it is not regulated AMF, they propose a contract of "credit facility" which would be impossible with the French regulation.

I was fooled!
1) I would not have registered on their platform without French regulation
2) I lost 3600 € on their platform because of the "credit facility" which was not supposed to exist!

I ASK FOR A COMPENSATION! You have deceived thousands of French customers and the damage is expenetielle! For French law, your practice is punishable (in the criminal) by 300 000 € almond and 2 years of imprisonment + 20% of your turnover based on the last 3 years.

I said that I have already contacted Libertx on this point, without adequate response or compensation while the situation is VERY SERIOUS!

Best regards,
LAMARQUE Martin

Nov 15, 2018 - 1 Star Hello,

I am a particular trader and I have a very big problem with the general issue of fund protection and the incentive for big volume trading at Lirbertex.

It offers a "credit facility" to increase its initial margin in view of being able to open positions with a larger volume than that proposed by the ESMA regulations. It is a pass-through, which circumvents the rules, so that the private investor can invest more, without margin restriction. From my point of view, it is therefore a circumvention of regulations, and an incentive to trade, with always more (prohibited by the ESMA).

Example:
I have a margin available of 3118 €. I decided to open a risky position on the OR (maximum lever 1:20) and therefore with a maximum possible position volume of € 62,360.

However, the broker offers a solution of "credit facility" to inflate its available margin. In our example, we could have a credit facility of 4677 €:
That is 3118 € + 4677 € = 7,795 € with a lever of 1:20 and therefore a maximum possible position volume of 155,900 €!

155 900 corresponding to 3118 * 50! This leads to opening a position on the OR with a lever of 1:50 instead of 1:20 regulated by the ESMA.

It's absurd! I find it very very limited .. This is not legal or regulatory!

Bearing in mind that according to Article 40 (5) of Regulation (EU) No 600/2014: Article 2 (d) the supplier of CFDs does not offer the retail customer, directly or indirectly, a payment, a monetary or an excluded non-monetary benefit in connection with the marketing, distribution or sale of a CFD, other than gains on any CFDs provided; (...)

And according to Article 3: "It is prohibited to knowingly and voluntarily participate in activities the object or effect of which is to circumvent the requirements of Article 2, including by substituting for the supplier of CFDs."

I ask for compensation!

PS: You told me that you accepted your service, but it is not legal to have it offered to me without my request, and this service does not have regulations in the EU!

Sincerely and waiting to read you,
LAMARQUE Martin

Reply by FOREX CLUB submitted Nov 21, 2018 Unfortunately, we did not find your registration in fxclub.org/libertex.org. Perhaps your question relates to another Company from the Forex Club Group of Companies. We recommend you to contact the Customer service of that broker you are registered and trade in.

Sincerely, ForexClub.org
1 trader has found this review helpful

Review for XM.com

M
Vantoux, France,
Sep 29, 2018,
Registered user

DANGER !!!!

Many logistical errors, such as lack of liquidity and therefore impossibility to execute orders at open market hours (I have evidence, screen, and money lost, at least given)

Mar 6, 2018 - 1 Star Company that refuses to pay me back and refuses to listen to me for my defense! Case to follow, but categorical refusal of response to my emails about my complaint, no response to the private message to Mr Zacharia (XM.com representative on FPA), nor efforts for an amicable solution. In case of problems, you will have to be very patient (AMF file, Cysec, etc.) and spend money to defend yourself, which I will do very soon if I have no reaction from them.

Feb 19, 2018 - 1 Star My account has been blocked without any valid reason, no proof or explanation from XM.com! A new claim has been filed but in the meantime my account is blocked!

Reason: modification of log files

Problem: concerns with the MT5 platform, so I send my log files for analysis and refund and XM.com accuses me of having them changed! It's wrong !

I contacted Metaquotes for more information, they assured me that only the customer holds the MT5 log files of his account in his personal machine and that no broker can have them. So impossible for XM.com to question the authenticity of my log files.

I sent this message privately to MX.com a few days ago, without an answer, so I publish it publicly!

My message:
"Client Terminal Build and Version:
MARTIN LAMARQUE,
4005935, XM.COM-MT5,
MQ ID: 1ED80A5B,
MetaTrader 5 build 1649,
iPhone (iPhone10,6) iOS 11.2.5

Problem description
Hello XM,
Following the first decision of the department (closing my account), which is unaccountable since I did nothing (about the modification of my log files) and I had no explanation about it , I filed a second official complaint (Complaint Reference Number: TI20180003). While waiting for the final verdict, I would like to let you know that I have already contacted Cysec and FCA and prepared the first files with FPA and Financial-Ombudsman, ready for publication.

Expected result
I would like you to send me a detailed report (with proof) of the first investigation, which resulted in the closure of my account. I want proof of what you are saying because it is absurd.

*I'm contacting you here because the response times via middleoffice's email address are way too long, and my patience has limits!

Additional details (1)
If all went well (without error platform) I would be today with trades up to more than 30000 €, gold, currently, I am 0 € and my account is blocked!
You do not have to do this, while waiting for the answer of the second investigation, I can not trade any more, I will ask, with the help of FPA and Financial-Ombudsman of the compensations (proportional to the potential trades which should have remained open without error of the platform) because it is unacceptable.

Additional details (2)
In addition, I will not hesitate to openly publish your suspicious behavior, I also had the same problem with the platform a few days before (I was refunded) but after three attempts to complain to the department:

I°/ First answer: "You were not connected after" x hour ", but I had closed about forty position after this time, everything was visible in my history and I had no trouble challenging their verdict so much. was rude.

1) My first analysis: If I would not close positions after this "x hour", I could not prove that I was well connected and I would not have been refunded, NOT PERMISSIBLE!

II°/ Second answer: "there was no attempt to close a position". I had to go myself check this, copy / paste to my manager the party failed to redo an analysis.

2) My second analysis: If I did not identify the problem by myself, I would not have been refunded, NOT PERMISSIBLE!

III°/ Third answer: "Indeed you are right". What incompetence and lack of proffesionalism! This is unacceptable on the part of a department. And today I have a big problem with them!

3) My third analysis: a competent department? I doubt !


Conclusion
1) I wish you to answer me about the first survey (see "Expected result")
2) I am ready today, with the help of FPA and Financial-Ombudsman, to publish this openly to the public (I kept all the e-mail exchanges) and with the experience that I had afterwards, to put back cause the blocking of my account, to ask for penalties and compensation, to be refunded as soon as possible!

Thank you

Best regards,
LAMARQUE Martin"

Reply by Chris Zacharia submitted Feb 21, 2018 Dear martinlamarque,



Your account has been blocked and you have very well been explained the reason which it was blocked.



In addition to this, after you have opened a complaint with our compliance department, your case was reviewed and a reply has been sent by XM’s compliance department.



We have also transparently replied to your post which is posted at this link on the FPA -> http://www.forexpeacearmy.com/community/threads/complaint-about-xm.54217/



In a nutshell, you have made a complaint about not being able to close an order.



When we asked you to provide a copy of your log files in order to be able to research the case, the copy of log files you have sent to XM were edited.



To be even more precise:



You had complained that you could not close an order because the platform was giving you the message that the market was closed.



However on the log files you have provided:



The message “market closed” was in a parenthesis of this format “(....)”



On a real log file the message is must be in brackets of this format “[...]”.



In this respect, we consider that your behavior, actions and intentions towards our Company were made in bad faith with the sole aim to deceive our Company and claim reimbursement for your loss-making orders.



This issue has been closed on XM’s side and the decision to close your account is final and non-reversible.



Thank you,
1 trader has found this review helpful
M
Reply by Chris Zacharia submitted Oct 4, 2018:
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,