Xm forex withdrawal problems
Xm forex withdrawal problems
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Xm forex withdrawal problems
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Xm forex withdrawal problems. For individuals who are seeking xm forex withdrawal problems review. For folks who are seeking xm forex withdrawal problems review.! Weve more details about detail specification customer reviews and comparison price.
Xm was first started back in 2009 in london and now they have an offering of more than 400 different instruments. Xm is regulated by the fca in the united kingdom and they have european passports with the mifid as well as being regulated by the cysec in cyprus as well as being regulated in australia as an asic entity. Xm forex withdrawal problems on sale.
E wallet refundswithdrawals will be processed once all creditdebit card deposits have been completely refunded. For those who are looking for xm forex withdrawal problems review. For folks who are looking for xm forex withdrawal problems review.
For folks who are searching for xm forex withdrawal problems review. This includes over 350 cfds as well as 57 currency pairs and 5 cryptocurrency cfds. Xm forex withdrawal problems on sale.
Xm is the next gener! Ation broker for online forex and commodity trading offering a! Wide array of progressive features for trading forex stocks cfds commodities cfds equity indices cfds precious metals cfds energies cfds and cryptocurrencies cfds. Xm forex withdrawal problems on sale. Xm forex withdrawal problems on sale.
Weve more info about detail specification customer reviews and comparison price. Withdrawal requests submitted regardless of the withdrawal method chosen will be processed via this channel up to the total amount deposited by this method. Xm forex withdrawal problems on sale.
Hi everyone i just finished my training on forex new on forex and will love to start trading with real mode and my choice was focused on the broker xm but first and foremost i really wanted to get your opinion on it and find out if there are people who have withdrawal problem with xm.
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XM withdrawal rejected
Scorpion007net
Recruit
My name is rohit and my account no with xm is 2146307.
I made a deposit $300 via skrill from my friends account.
I trade using it and make $456 profit.
When i tried to withdraw the funds the say they can't accept third party deposit.
If they can't accept any third party deposits why there is a skrill account email input button in their skrill deposit page??
When i am depositing from skrill there is no information or warning about my deposit.
When i tried to withdraw my profit they are saying there is no profit because of i made a third party deposit.
I am the one who deposit and make trade.
But because of i made a third party deposit how is the result of my trade became nothing??
When i chat with them sometimes they say you will get the funds with in 24 hours. Sometimes they say i will not get any funds.
I am curious to know that what happens to the profit i made.
Attachments
XM.Com representative
All your trades were cancelled because you decided that a warning that XM does not allow 3rd party deposits does not apply to you.
Once you have chosen the desired method of depositing funds in the members area of our website, you will see the following warning:
Attention: please make sure that all payments are made from an account registered in the same name as your XM account. Any payments made by 3rd parties will be refunded and your account will be suspended immediately!
This warning applies to all methods of depositing funds, including skrill. In case you did not see this warning, I am attaching a screenshot. Moreover, before cancelling your trades, our backoffice team asked you to verify that this skrill account belongs to you but you failed to provide any proof.
I do not think you can blame us for this situation because it is your responsibility to follow the rules and AML procedures established by the mifid regulations.
Attachments
Scorpion007net
Recruit
Still no answer for what happened to my profit.
When i chat with your executive yesterday he told me that i will get $456 within 24 hours.
Why did he say that??
Isnt that your executive??
Or did the company change the law today??
How can one trust the company if the company change like this within 24 hours??
"any payments made by third parties will be refunded and your account will be suspended immediately"
what is immediately??
I made investment on 2013.11.12 06:24
I made trades on 12th and 13th november.
I tried to withdraw funds on 13th.
We are talking about the third party investment problem since 13th november.
Investment refunded on 2013.11.18 01:57.
And my account is not suspended till you wrote the above replay.
Why your company giving me false information and making this much delay??
If i made a loss will you refund all the money deposited from third party??
Do you have any rules for that??
XM.Com representative
We have thousands of deposits and withdrawals everyday that need to verified and processed. You were asking customer support and he might not have been aware of the 3rd party payment at this time.
This rules has been in place since the company was founded.
You were given enough time to prove that this account belongs to you.
All the information the our clients need to know is published on our website, including the warning that we do not allow 3rd party deposit.
3rd party deposits are refunded regardless of profit or loss.
Now, allow me to ask you a few questions:
1. There is clear warning about the 3rd party deposits in member's areas. Why did you ignore it and deposited money using your friend's skrill account?
2. Would you create this thread if you lost money and we refunded the deposit back to your friends?
3. Let's pretend we do not have this rule regarding the 3rd party deposit. Let's say you loose your friend's money and he notices that somebody used his account to make a deposit. What should we tell to this person?
4. How can we verify that the owner of this account is your friend and he allowed you to use it? ]
Scorpion007net
Recruit
Yesterdays chat withdrawal is ok
Still no answer for where will the profit goes..
I clearly tell him i have done a third party deposit.
If you don't have the chat conversation i have it
This is the chat conversation.
Our company representative will be with you in a moment. Meanwhile you can submit your question.
12:02 desimir has joined the chat.
Desimir | 12:02 welcome to XM.Com how may I assist you?
Rohith | 12:02 my account no is 2146307 i am having a problem with my withdrawal
desimir | 12:03 hello sir one moment please let me che3ck that for you
rohith | 12:03 i just got a call from a executinve. But he didnt confirm that i get my withdrawal back or not.
Desimir | 12:04 is is a withdrawal of USD 456 ?
Rohith | 12:04 ya
desimir | 12:05 sir I see your withdrawal has been rejected as there has been a third party deposit
rohith | 12:05 so where will it go??
Desimir | 12:06 sir you will need to wait up to 24 hours for our back office to refund your withdrawal.
Rohith | 12:06 i give the request 13th november
desimir | 12:07 yes sir, we have already informed our back office and you will receive the amount within the next 24 hours.
Rohith | 12:08 so i will recevie my $456 within 24 hours?
Desimir | 12:09 yes sir.
Rohith | 12:09 ok. I will look forwad to that. Thank you!!
XM.Com representative
I'll repeat myself, you were given additional time to prove that this account belongs to you because in some cases clients may use different email address for their skrill account. If it's the case, a client can submit additional document and verify that this account belongs to him.
Your friend has already received the refund and you can ask him about, providing that this account really belongs to a person that you know.
Scorpion007net
Recruit
Topdog
Globalforexinstitute and tdmarkets rep
All your trades were cancelled because you decided that a warning that XM does not allow 3rd party deposits does not apply to you.
Once you have chosen the desired method of depositing funds in the members area of our website, you will see the following warning:
Attention: please make sure that all payments are made from an account registered in the same name as your XM account. Any payments made by 3rd parties will be refunded and your account will be suspended immediately!
This warning applies to all methods of depositing funds, including skrill. In case you did not see this warning, I am attaching a screenshot. Moreover, before cancelling your trades, our backoffice team asked you to verify that this skrill account belongs to you but you failed to provide any proof.
I do not think you can blame us for this situation because it is your responsibility to follow the rules and AML procedures established by the mifid regulations.
Having problems with your withdrawal request? You are not alone…
Published: 24th september, 2019.
Trading in the retail forex market is high risk. Yes, we have all been told that sobering fact hundreds of times on every broker’s website, but the true appreciation of the risk and the fear, we might add, may only happen when we make a withdrawal request, follow all of the rules, and then wait forever for something to happen. Does the following complaint on a forex complaint blog website ring true:
“I have been dealing with this broker for a long time. They are good for trading and for making other investments, too. In the past, I have always been able to get a withdrawal request processed quickly, but now, for some reason, I have been waiting over two months for my money. I tried contacting the company, but they are not replying to my calls or emails. I hope they make my payments soon, but I cannot help but think the worse. Is my broker in trouble or have I been completely scammed?”
At forexfraud.Com, we receive many complaints like the one above, but answering either of the last two questions at the end of the complaint requires a great deal more information to arrive at truthful answers. In this case, no one replied from the broker. A failure to communicate is indicative of a host of other issues, which could range from poor customer service to financial insolvency to being outright fraud. In many of our investigations, there is typically a lengthy litany of emails going back and forth that describe several misunderstandings or blatant excuses for why a withdrawal is being delayed or why an account has been frozen.
At the end of the day, all any trader wants is a return of his own money. If there is a bonus involved, then the broker can keep that amount, but the client’s money should not be held up for ransom… but it typically is. Many customers fail to read the fine print in the legal obligations that you accept the moment any promotional monies are added to your account. You may think the broker is giving you money, but he actually wants you to overtrade, thereby giving him an ample period of time to recover the bonus and more. For traditional forex brokers, the extra trading brings more fees. Binary option brokers, however, need you to lose to support their operation and pay winners.
Failure to fulfill bonus trade commitments may tie up your funds
There are a few legitimate reasons that could delay your withdrawal request. Your open positions may have margin requirements that will put a hold on a portion of your funds. Be sure to check how these calculations are made. If your anti-money laundering (AML) documentation is not current and in order, then you will have a problem. Brokers must follow international regulations on this issue or risk penalties and business interruptions laid down by their local regulator. The plus500 fiasco of last year demonstrated how crazy this kind of situation can get when the broker does not follow these rules.
These same rules also require that your funds follow a similar path, as when they were deposited, both in the same method of payment, as well as to the same person’s name on the account. If you try to change the how and where funds will flow, then you can also expect more delays. We wrote about these particular problems back in january of this year. As we wrote, “this type of problem is typically an early indicator that something may not be quite right with your broker. Your broker could be having financial problems, dealing with regulatory issues behind the scenes, trying to work down a large backlog of requests, or is resorting to outright fraud to stay alive.”
The vast preponderance of complaints these days, however, have to do with living up to rules set down by your broker for promotional bonuses. The broker determines the nature of these requirements, how he expects you to trade, and the discretion he has to disallow a withdrawal of his monies, if and when he suspects foul play. What is this “foul play” you ask? A highly publicized case involving ironfx and a group of chinese traders a few years back resulted in hefty fines and recriminations from all parties. The broker accused a number of traders of outright fraud and theft, while the traders accused the broker of fraud and theft, as well.
We will discuss the details of this nasty episode later in this article, but for now, let’s review the type of bonus promotions that you might encounter and the associated rules of the road, if you ever expect to withdraw any of these funds, or your own funds for that matter. Keep in mind that these rules have become more expansive and inclusive after the ironfx debacle, and that each broker is responsible for developing its own set of rules. There may be some similarities, as to form, but the formulas for deriving how much of your account balance is available for withdrawal can be complex.
What kinds of bonus programs are prevalent today?
Retail forex trading, especially the binary options sector of it, is high risk. Casualty rates run high, over 65% by some estimates and may be even higher in the digital space. For this reason alone, brokers are under intense pressure to acquire new customers. Many have resorted to aggressive marketing campaigns that include a variety of promotional bonus schemes. Brokers will advertise many of these promotions on their home page to entice you. You may have to apply for them, enter a special code, discuss the trading requirements with a customer service rep, or sign off on specific terms and conditions. Be wary of the broker that offers exorbitant bonuses or automatically credits them to your account. He may be setting an unscrupulous trap for you, a scam in progress.
Bonuses come in a variety of forms, each with specific conditions. Here are a few:
- Registration bonus: upon registration, a specific amount will be credited to your account, no deposit required:
- Welcome bonus: A specific amount or percentage of your initial deposit is added to your account;
- Deposit bonus: there may be a special incentive for increasing your balance to a higher level after you have been active for a period of time:
- Loyalty bonus: this type of bonus rewards you for your patronage;
- Refer a friend: if you solicit new business for the broker, you may earn another bonus for your effort;
- Risk free trades: in this case, the broker covers your early losses to encourage you to stick around and risk more money.
You should have a choice in the matter. You do not have to accept a bonus and the stringent conditions attached to them. Be suspicious, if this is not the case.
What types of trading requirements are prevalent today?
Traditional forex brokers tend to be more lenient in their bonus trading requirements. There may be very complicated formulas that apply a percentage, based on your account value before and after the bonus has been added, to determine what amount of your account balance can be subject to withdrawal. Other brokers may segregate the bonus in separate account and allow you to do whatever you want with your deposited monies, independent of the bonus amount.
Due to increased competition and high casualty rates, this issue has become very murky of late within the binary options space. The business model for these “all-or-nothing” options does not help either. Remember that binary options are very similar to online gambling – the house sets the odds and then uses funds from losing trades to pay winners and fund the house. There is no market that can create a “win-win”, as in traditional retail forex trading. In this case, the house always wins and must market aggressively for new clients.
As you might expect, binary option bonuses are heftier and come with heftier trading requirements. Your entire balance may be locked down until you trade anywhere from 20 to over 50 times your bonus amount. If your bonus was $1,000, could you afford to trade $50,000 worth of trades, before requesting a withdrawal? The odds are in favor of the house that you would lose both your bonus and your deposit long before you ever met this requirement. Many traders come to this realization after a string of losing trades and rush to request their money back. “no can do,” says the broker.
What happened to ironfx and its bonus programs?
Ironfx was one of the innovators for using aggressive bonus programs to grow its global customer base, and it was highly successful. Its business model drew both scorn and competition, but it was only a matter of time before a group of “malicious” traders developed a clever way to “game the system”, as the management of ironfx contended in legal proceedings.
The issues came to a head when accounts were frozen for 160 chinese clients and others, due to rule violations. The firm’s shanghai office was stormed and ransacked. Legal briefs were filed in cyprus, and, as was reported, “cysec went so far as to fine the firm €335,000, its largest fine to date, and ASIC ordered the firm to correct its disclosure documents.”
The ironfx CEO, markos kashiouris, noted in press interviews that, “indeed this claim is related to the recently identified group of abusive traders that employ an abusive trading strategy to manipulate our promotions. This group has been placed under investigation for breach of our trading terms and pending this investigation we have put a limitation on all promotions-related withdrawals from this abusive trading strategy as we are entitled to do. We are not doing anything different from other companies in the industry in china.”
The abusive trading strategy was not divulged. It is not that difficult to surmise that two duplicitous individuals could set up separate accounts and receive two bonuses. One account would buy a “high” option, while the other, a “low” option for the same asset. Over time, this hedging approach might result in bonus money being left on the table for withdrawal – maliciously “free money” from the prospective of ironfx management.
Concluding remarks
The moral of this promotional bonus story is to be very wary of the terms and conditions attached to any bonus program. By accepting these terms, you may have dug a hole so deep that you would never be able to climb out of it. Bonus programs can often be today’s version of a trojan horse.
XM withdrawal problems | XM download
Xm forex withdrawal problems
This company is a scam , they use a few web page in face book to get people to invest. Even if your account is verified they will not return your money.
XM forex broker reviews and comments 2020 about on
You can access our trading signals under the menu tab trading signals in our members area. In order to download the trading signals, you need to have a validated trading account.
My withdrawal from XM | forex peace army - your forex
You are more than welcome to visit our office at any time. We kindly ask you to inform us in advance with a date and time and your personal account manager will be waiting to welcome you. Our company HQ is in limassol, cyprus. Our company’s full address and contact details can be found here.
XM review, withdrawal? | forex forum - earnforex
Our clients can choose to trade forex and cfds on stock indices, commodities, stocks, metals and energies from the same trading account. With a wide range of trading instruments available from a single multi asset platform XM makes trading easier and efficient.
XM minimum & maximum deposits / withdrawals
B) requests which could cause the margin level to drop below 955% will not be accepted during weekends, from friday 78:55 to monday 56:55 GMT+7 (DST applies).
In order to withdraw funds, your trading account must be validated. This means that first you need to upload your documents in our members area: proof of identity (ID, passport, driving license) and proof of residency (utility bill, telephone/internet/TV bill or bank statement), which include your address and your name and can’t be older than 6 months.
Size does not matter. At XM the client comes first regardless of net capital worth, account type or size of investment. All our clients receive the same quality services, the same execution, and the same level of support. XM was founded on these values, and that will not change.
All withdrawal requests will be completed within 79 working hours however all withdrawal requests submitted will be instantly reflected in the clients’ trading account as pending withdrawals. In case a client selects an incorrect withdrawal method, the clients’ request will be processed according to the withdrawal priority procedure described above. All client withdrawal requests shall be processed in the currency in which the deposit was originally made. Should the deposit currency differ from the transfer currency, the transfer amount will be converted by XM into the transfer currency at the prevailing exchange rate.
Trading point of financial instruments ltd is regulated by the cyprus securities and exchange commission (cysec) under the license number 675/65, and registered with FCA (FSA, UK), under the reference no. 588879. Trading point of financial instruments ltd operates in accordance with the markets in financial instruments directive (mifid).
In order to protect all parties against fraud and minimise the possibility of money laundering and/or terrorist financing, XM will only process withdrawal/refunds back to the source of the original deposit according to the withdrawal priority procedure below:
The profit calculation is as follows:
(close price-open price)*lots*contract size
the lot size on every CFD differs. Please read more information here.
Stay away from XM! I am a profitable trader and today 95% of my trades were in profit and i had enough free margin. Suddenly my free margin shot in negative but my account was $95 profit on $65 capital so i go on website and see my free margin was changed to 6:655 from 6:888 with no notice and then trades started closing at 66pm when spread increased. Real scammer and you will never succeed with them! Please take my advise and stay far away from XM
XM continues making its philanthropic contributions to support the fierce fight against the novel coronavirus pandemic. XM fulfills its pledge to continue supporting local communities [..]
There is no maximum amount you can trade online, but there is a maximum number of 55 standard lots you can trade online at streaming prices for STANDARD accounts and 655 micro lots for MICRO accounts. The maximum number of positions open at the same time, and for all account types, is 755.
Reviews about XM might be of good service to the new forex traders who are yet hesitating which forex broker to opt for. The information featured in this section is judgmental and cannot be taken as an instruction manual however, it is definitely useful and can help you understand if the broker matches your personal criteria. The topics of reviews can be very different it is not prohibited to express an opinion on any forex trading issue. At that we expect our site visitors to be of decent conduct and to follow the moral standards.
This also applies to all credit/debit card deposits. For deposits/withdrawals via international bank wire transfer, XM covers all transfer fees imposed by our banks, with the exception of deposits amounting to less than 755 USD (or equivalent denomination).
By clicking the "start chat" button, you agree for your personal data provided via live chat to be processed by XM, as per the company's privacy policy , which serves the purpose of you receiving assistance from our customer support department.
Yes, this is possible. You can request an internal transfer between two trading accounts, but only if both accounts have been opened under your name and if both trading accounts have been validated. If the base currency is different, the amount will be converted. Internal transfer can be requested in the members area , and it is instantly processed.
Guys I want to thank you keep it up with good works, deposit and withdrawals are fast I am enjoying to be part of xm. I love you keep up nd I'm giving you 5 stars
Xm forex withdrawal problems
Xm is regulated by the fca in the united kingdom and they have european passports with the mifid as well as being regulated by the cysec in cyprus as well as being regulated in australia as an asic entity. This includes over 350 cfds as well as 57 currency pairs and 5 cryptocurrency cfds.
Weve more information about detail specification customer reviews and comparison price.
Xm forex withdrawal problems. Xm forex withdrawal problems on sale. For individuals who are seeking xm forex withdrawal problems r! Eview. For folks who are seeking xm forex withdrawal problems review.
Xm forex withdrawal problems on sale. Xm was first started back in 2009 in london and now they have an offering of more than 400 different instruments. We have more info about detail specification customer reviews and comparison price.
Xm forex withdrawal problems on sale. For those who are looking for xm forex withdrawal problems review. Xm forex withdrawal problems on sale.
For folks who are searching for xm forex withdrawal problems review. Weve more details about detail specification customer reviews and comparison price. Hi everyone i just finished my training on forex new on forex and will love to start trading with real mode and my choice was focused on the broker xm but first and foremost i really wanted to get your opinion on it and find out if there are people who have withdrawal problem with xm.
Weve more in! Fo about detail specification customer reviews and comparison ! Price. E wallet refundswithdrawals will be processed once all creditdebit card deposits have been completely refunded. For folks who are looking for xm forex withdrawal problems review.
Xm forex withdrawal problems on sale. Withdrawal requests submitted regardless of the withdrawal method chosen will be processed via this channel up to the total amount deposited by this method. Xm is the next generation broker for online forex and commodity trading offering a wide array of progressive features for trading forex stocks cfds commodities cfds equity indices cfds precious metals cfds energies cfds and cryptocurrencies cfds.
We have more info about detail specification customer reviews and comparison price.
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Xm forex broker reviews and comments 2019 about xm com on forex
XM withdrawal rejected
Scorpion007net
Recruit
My name is rohit and my account no with xm is 2146307.
I made a deposit $300 via skrill from my friends account.
I trade using it and make $456 profit.
When i tried to withdraw the funds the say they can't accept third party deposit.
If they can't accept any third party deposits why there is a skrill account email input button in their skrill deposit page??
When i am depositing from skrill there is no information or warning about my deposit.
When i tried to withdraw my profit they are saying there is no profit because of i made a third party deposit.
I am the one who deposit and make trade.
But because of i made a third party deposit how is the result of my trade became nothing??
When i chat with them sometimes they say you will get the funds with in 24 hours. Sometimes they say i will not get any funds.
I am curious to know that what happens to the profit i made.
Attachments
XM.Com representative
All your trades were cancelled because you decided that a warning that XM does not allow 3rd party deposits does not apply to you.
Once you have chosen the desired method of depositing funds in the members area of our website, you will see the following warning:
Attention: please make sure that all payments are made from an account registered in the same name as your XM account. Any payments made by 3rd parties will be refunded and your account will be suspended immediately!
This warning applies to all methods of depositing funds, including skrill. In case you did not see this warning, I am attaching a screenshot. Moreover, before cancelling your trades, our backoffice team asked you to verify that this skrill account belongs to you but you failed to provide any proof.
I do not think you can blame us for this situation because it is your responsibility to follow the rules and AML procedures established by the mifid regulations.
Attachments
Scorpion007net
Recruit
Still no answer for what happened to my profit.
When i chat with your executive yesterday he told me that i will get $456 within 24 hours.
Why did he say that??
Isnt that your executive??
Or did the company change the law today??
How can one trust the company if the company change like this within 24 hours??
"any payments made by third parties will be refunded and your account will be suspended immediately"
what is immediately??
I made investment on 2013.11.12 06:24
I made trades on 12th and 13th november.
I tried to withdraw funds on 13th.
We are talking about the third party investment problem since 13th november.
Investment refunded on 2013.11.18 01:57.
And my account is not suspended till you wrote the above replay.
Why your company giving me false information and making this much delay??
If i made a loss will you refund all the money deposited from third party??
Do you have any rules for that??
XM.Com representative
We have thousands of deposits and withdrawals everyday that need to verified and processed. You were asking customer support and he might not have been aware of the 3rd party payment at this time.
This rules has been in place since the company was founded.
You were given enough time to prove that this account belongs to you.
All the information the our clients need to know is published on our website, including the warning that we do not allow 3rd party deposit.
3rd party deposits are refunded regardless of profit or loss.
Now, allow me to ask you a few questions:
1. There is clear warning about the 3rd party deposits in member's areas. Why did you ignore it and deposited money using your friend's skrill account?
2. Would you create this thread if you lost money and we refunded the deposit back to your friends?
3. Let's pretend we do not have this rule regarding the 3rd party deposit. Let's say you loose your friend's money and he notices that somebody used his account to make a deposit. What should we tell to this person?
4. How can we verify that the owner of this account is your friend and he allowed you to use it? ]
Scorpion007net
Recruit
Yesterdays chat withdrawal is ok
Still no answer for where will the profit goes..
I clearly tell him i have done a third party deposit.
If you don't have the chat conversation i have it
This is the chat conversation.
Our company representative will be with you in a moment. Meanwhile you can submit your question.
12:02 desimir has joined the chat.
Desimir | 12:02 welcome to XM.Com how may I assist you?
Rohith | 12:02 my account no is 2146307 i am having a problem with my withdrawal
desimir | 12:03 hello sir one moment please let me che3ck that for you
rohith | 12:03 i just got a call from a executinve. But he didnt confirm that i get my withdrawal back or not.
Desimir | 12:04 is is a withdrawal of USD 456 ?
Rohith | 12:04 ya
desimir | 12:05 sir I see your withdrawal has been rejected as there has been a third party deposit
rohith | 12:05 so where will it go??
Desimir | 12:06 sir you will need to wait up to 24 hours for our back office to refund your withdrawal.
Rohith | 12:06 i give the request 13th november
desimir | 12:07 yes sir, we have already informed our back office and you will receive the amount within the next 24 hours.
Rohith | 12:08 so i will recevie my $456 within 24 hours?
Desimir | 12:09 yes sir.
Rohith | 12:09 ok. I will look forwad to that. Thank you!!
XM.Com representative
I'll repeat myself, you were given additional time to prove that this account belongs to you because in some cases clients may use different email address for their skrill account. If it's the case, a client can submit additional document and verify that this account belongs to him.
Your friend has already received the refund and you can ask him about, providing that this account really belongs to a person that you know.
Scorpion007net
Recruit
Topdog
Globalforexinstitute and tdmarkets rep
All your trades were cancelled because you decided that a warning that XM does not allow 3rd party deposits does not apply to you.
Once you have chosen the desired method of depositing funds in the members area of our website, you will see the following warning:
Attention: please make sure that all payments are made from an account registered in the same name as your XM account. Any payments made by 3rd parties will be refunded and your account will be suspended immediately!
This warning applies to all methods of depositing funds, including skrill. In case you did not see this warning, I am attaching a screenshot. Moreover, before cancelling your trades, our backoffice team asked you to verify that this skrill account belongs to you but you failed to provide any proof.
I do not think you can blame us for this situation because it is your responsibility to follow the rules and AML procedures established by the mifid regulations.
XM.Com withdrawal
XM.Com withdrawal methods and fees, all you need to know about XM withdrawal fees and which payment methods you can use to withdrawal from XM forex broker, for more information about xmmarkets withdrawal methods you can also visit XM review by forexsq.Com currency trading website, the top forex broker ratings fx brokers website and the fxstay.Com online investing company and get all information you need to know about XM markets forex broker.
XM.Com withdrawal fees
Credit cards
| options | XM ACCOUNT BASE CURRENCIES | fees | min. Withdrawal | time | withdrawal |
|---|---|---|---|---|---|
| USD, EUR, GBP, CHF, AUD, PLN, HUF | covered by XM | min. 5 USD or value equivalent in any other currency. | Processed in 24 hours |
| USD, EUR, GBP, CHF, AUD, PLN, HUF | covered by XM | min. 5 USD or value equivalent in any other currency. | Processed in 24 hours |
| USD, EUR, GBP, CHF, AUD, PLN, HUF | covered by XM | min. 5 USD or value equivalent in any other currency. | Processed in 24 hours |
| USD, EUR, GBP, CHF, AUD, PLN, HUF | covered by XM | min. 5 USD or value equivalent in any other currency. | Processed in 24 hours |
| USD, EUR, GBP, CHF, AUD, PLN, HUF | covered by XM | min. 5 USD or value equivalent in any other currency. | Processed in 24 hours* |
| *withdrawals by credit cards are processed within 24 hours on working days on receipt of your withdrawal request. However, the funds are credited into your bank account within 2-5 business days. |
Electronic payment
| options | XM ACCOUNT BASE CURRENCIES | fees | min. Withdrawal | time | withdrawal |
|---|---|---|---|---|---|
| USD, EUR, GBP, CHF, AUD, PLN, HUF | covered by XM | min. 5 USD or value equivalent in any other currency. | Processed in 24 hours |
| USD, EUR, GBP, CHF, AUD, PLN, HUF | covered by XM | min. 5 USD or value equivalent in any other currency. | Processed in 24 hours |
Bank wire transfer
| options | XM ACCOUNT BASE CURRENCIES | fees | min. Withdrawal | time | withdrawal |
|---|---|---|---|---|---|
| USD, EUR, GBP, CHF, AUD, PLN, HUF | only fees on XM’s side are covered. | USD 200 | 2-5 business days* |
| *withdrawals by bank wire transfer are processed within 24 hours on working days on receipt of your withdrawal request. However, the funds are credited into your bank account within 2-5 business days. |
How to do XM withdraw funds?
XM withdrawal priority procedure
Withdrawal of funds is only available to clients who have uploaded their supporting documents and had their trading account validated. Clients log in to the secure XM members area to upload their supporting documents (proof of identity and proof of address) and once the clients’ trading account has been validated they will be able to withdraw funds from their trading account.
1. Log in to the members area and click on the withdrawals button. 2. Select the option according to how you wish to make a withdrawal. 3. Enter the amount you wish to withdraw and submit the request. 4. The requested amount will be automatically deducted from your trading account.
In order to protect all parties against fraud, XM will only process withdrawal/refunds back to the source of the original deposit according to the below withdrawal priority procedure:
- Credit/debit card withdrawals. Withdrawal requests submitted, regardless of the withdrawal method chosen, will be processed via this channel up to the total amount deposited by this method.
- E-wallet withdrawals. E-wallet refunds/withdrawals will be processed once all credit/debit card deposits have been completely refunded.
- Other methods. All other methods such as bank wire withdrawals shall be used once deposits made with the above two methods have been completely exhausted.
All withdrawal requests will be completed within 24 working hours; however all withdrawal requests submitted will be instantly reflected in the clients’ trading account as pending withdrawals. In case a client selects an incorrect withdrawal method, the clients’ request will be processed according to the withdrawal priority procedure described above. All client withdrawal requests shall be processed in the currency in which the deposit was originally made. Should the deposit currency differ from the transfer currency, the transfer amount will be converted by XM into the transfer currency at the prevailing exchange rate.
Having problems with your withdrawal request? You are not alone…
Published: 24th september, 2019.
Trading in the retail forex market is high risk. Yes, we have all been told that sobering fact hundreds of times on every broker’s website, but the true appreciation of the risk and the fear, we might add, may only happen when we make a withdrawal request, follow all of the rules, and then wait forever for something to happen. Does the following complaint on a forex complaint blog website ring true:
“I have been dealing with this broker for a long time. They are good for trading and for making other investments, too. In the past, I have always been able to get a withdrawal request processed quickly, but now, for some reason, I have been waiting over two months for my money. I tried contacting the company, but they are not replying to my calls or emails. I hope they make my payments soon, but I cannot help but think the worse. Is my broker in trouble or have I been completely scammed?”
At forexfraud.Com, we receive many complaints like the one above, but answering either of the last two questions at the end of the complaint requires a great deal more information to arrive at truthful answers. In this case, no one replied from the broker. A failure to communicate is indicative of a host of other issues, which could range from poor customer service to financial insolvency to being outright fraud. In many of our investigations, there is typically a lengthy litany of emails going back and forth that describe several misunderstandings or blatant excuses for why a withdrawal is being delayed or why an account has been frozen.
At the end of the day, all any trader wants is a return of his own money. If there is a bonus involved, then the broker can keep that amount, but the client’s money should not be held up for ransom… but it typically is. Many customers fail to read the fine print in the legal obligations that you accept the moment any promotional monies are added to your account. You may think the broker is giving you money, but he actually wants you to overtrade, thereby giving him an ample period of time to recover the bonus and more. For traditional forex brokers, the extra trading brings more fees. Binary option brokers, however, need you to lose to support their operation and pay winners.
Failure to fulfill bonus trade commitments may tie up your funds
There are a few legitimate reasons that could delay your withdrawal request. Your open positions may have margin requirements that will put a hold on a portion of your funds. Be sure to check how these calculations are made. If your anti-money laundering (AML) documentation is not current and in order, then you will have a problem. Brokers must follow international regulations on this issue or risk penalties and business interruptions laid down by their local regulator. The plus500 fiasco of last year demonstrated how crazy this kind of situation can get when the broker does not follow these rules.
These same rules also require that your funds follow a similar path, as when they were deposited, both in the same method of payment, as well as to the same person’s name on the account. If you try to change the how and where funds will flow, then you can also expect more delays. We wrote about these particular problems back in january of this year. As we wrote, “this type of problem is typically an early indicator that something may not be quite right with your broker. Your broker could be having financial problems, dealing with regulatory issues behind the scenes, trying to work down a large backlog of requests, or is resorting to outright fraud to stay alive.”
The vast preponderance of complaints these days, however, have to do with living up to rules set down by your broker for promotional bonuses. The broker determines the nature of these requirements, how he expects you to trade, and the discretion he has to disallow a withdrawal of his monies, if and when he suspects foul play. What is this “foul play” you ask? A highly publicized case involving ironfx and a group of chinese traders a few years back resulted in hefty fines and recriminations from all parties. The broker accused a number of traders of outright fraud and theft, while the traders accused the broker of fraud and theft, as well.
We will discuss the details of this nasty episode later in this article, but for now, let’s review the type of bonus promotions that you might encounter and the associated rules of the road, if you ever expect to withdraw any of these funds, or your own funds for that matter. Keep in mind that these rules have become more expansive and inclusive after the ironfx debacle, and that each broker is responsible for developing its own set of rules. There may be some similarities, as to form, but the formulas for deriving how much of your account balance is available for withdrawal can be complex.
What kinds of bonus programs are prevalent today?
Retail forex trading, especially the binary options sector of it, is high risk. Casualty rates run high, over 65% by some estimates and may be even higher in the digital space. For this reason alone, brokers are under intense pressure to acquire new customers. Many have resorted to aggressive marketing campaigns that include a variety of promotional bonus schemes. Brokers will advertise many of these promotions on their home page to entice you. You may have to apply for them, enter a special code, discuss the trading requirements with a customer service rep, or sign off on specific terms and conditions. Be wary of the broker that offers exorbitant bonuses or automatically credits them to your account. He may be setting an unscrupulous trap for you, a scam in progress.
Bonuses come in a variety of forms, each with specific conditions. Here are a few:
- Registration bonus: upon registration, a specific amount will be credited to your account, no deposit required:
- Welcome bonus: A specific amount or percentage of your initial deposit is added to your account;
- Deposit bonus: there may be a special incentive for increasing your balance to a higher level after you have been active for a period of time:
- Loyalty bonus: this type of bonus rewards you for your patronage;
- Refer a friend: if you solicit new business for the broker, you may earn another bonus for your effort;
- Risk free trades: in this case, the broker covers your early losses to encourage you to stick around and risk more money.
You should have a choice in the matter. You do not have to accept a bonus and the stringent conditions attached to them. Be suspicious, if this is not the case.
What types of trading requirements are prevalent today?
Traditional forex brokers tend to be more lenient in their bonus trading requirements. There may be very complicated formulas that apply a percentage, based on your account value before and after the bonus has been added, to determine what amount of your account balance can be subject to withdrawal. Other brokers may segregate the bonus in separate account and allow you to do whatever you want with your deposited monies, independent of the bonus amount.
Due to increased competition and high casualty rates, this issue has become very murky of late within the binary options space. The business model for these “all-or-nothing” options does not help either. Remember that binary options are very similar to online gambling – the house sets the odds and then uses funds from losing trades to pay winners and fund the house. There is no market that can create a “win-win”, as in traditional retail forex trading. In this case, the house always wins and must market aggressively for new clients.
As you might expect, binary option bonuses are heftier and come with heftier trading requirements. Your entire balance may be locked down until you trade anywhere from 20 to over 50 times your bonus amount. If your bonus was $1,000, could you afford to trade $50,000 worth of trades, before requesting a withdrawal? The odds are in favor of the house that you would lose both your bonus and your deposit long before you ever met this requirement. Many traders come to this realization after a string of losing trades and rush to request their money back. “no can do,” says the broker.
What happened to ironfx and its bonus programs?
Ironfx was one of the innovators for using aggressive bonus programs to grow its global customer base, and it was highly successful. Its business model drew both scorn and competition, but it was only a matter of time before a group of “malicious” traders developed a clever way to “game the system”, as the management of ironfx contended in legal proceedings.
The issues came to a head when accounts were frozen for 160 chinese clients and others, due to rule violations. The firm’s shanghai office was stormed and ransacked. Legal briefs were filed in cyprus, and, as was reported, “cysec went so far as to fine the firm €335,000, its largest fine to date, and ASIC ordered the firm to correct its disclosure documents.”
The ironfx CEO, markos kashiouris, noted in press interviews that, “indeed this claim is related to the recently identified group of abusive traders that employ an abusive trading strategy to manipulate our promotions. This group has been placed under investigation for breach of our trading terms and pending this investigation we have put a limitation on all promotions-related withdrawals from this abusive trading strategy as we are entitled to do. We are not doing anything different from other companies in the industry in china.”
The abusive trading strategy was not divulged. It is not that difficult to surmise that two duplicitous individuals could set up separate accounts and receive two bonuses. One account would buy a “high” option, while the other, a “low” option for the same asset. Over time, this hedging approach might result in bonus money being left on the table for withdrawal – maliciously “free money” from the prospective of ironfx management.
Concluding remarks
The moral of this promotional bonus story is to be very wary of the terms and conditions attached to any bonus program. By accepting these terms, you may have dug a hole so deep that you would never be able to climb out of it. Bonus programs can often be today’s version of a trojan horse.
XM DEPOSIT AND WITHDRAWAL SYSTEM
XM is one of the biggest forex brokers in the world, especially in asia. The reason why there are so many traders wanting to trade on XM’s platform is that XM is really great with customer support. Not only do they have an amazing XM deposit and withdrawal system, XM also has a super efficient and experienced customer service team. Moreover, they also have monthly seminars to educate and assist customers in need. Today, we will focus on the XM deposit and withdrawal feature.
The process of XM deposit and withdrawal
After you have done signing up with XM and opened an XM account, you would want to deposit some money into your account in order to start trading. Let’s check out the process of deposit with XM step by step.
How to deposit:
- Log in with your XM account. No matter the platform you use (web platform, metatrader 4 or 5, or XM mobile app), the interface is the same.
- After login, look for the DEPOSIT button at the top of your screen.
- If you have multiple XM accounts, select the account you want to deposit money in by clicking the DEPOSIT button next to that account.
- Select a deposit method. The methods available on XM platform are:
- VISA or mastercard
- Internet banking service of your local banks.
- E-wallets such as neteller, skrill, sticpay, or ngan luong
- Cryptocurrency wallet (bitcoin, tether. )
- Other XM accounts
- Enter how much you want to deposit. For clients outside the U.S, XM will automatically convert it to USD.
- Check your account information again to make sure all the information is correct. Then click CONFIRM.
- Then XM will take you to the transferring page of the method you chose earlier. There, you just need to put in your information and make the trade.
That’s how you deposit money into your XM account. After trading for a while, you would want to withdraw your profit. Continue reading to know how to withdraw money from your XM account.
How to withdraw:
Important note: you have to withdraw money the same way you deposit your money. For example, if you use your mastercard to deposit, after trading, you have to withdraw your profit into that exact mastercard account. If you use multiple methods to deposit money into your account, the amount you can withdraw will be calculated according to the ratio of the amount you deposited. For instance, you deposit $50 with your mastercard and then $100 with skrill. When you withdraw money back to your mastercard account, you can only withdraw a third of your fund. The other two third of your fund can only be withdrawn into your skrill account.
- Log in with your XM account. No matter the platform you use (web platform, metatrader 4 or 5, or XM mobile app), the interface is the same.
- You can find the WITHDRAW button right next to the DEPOSIT button earlier.
- If you have multiple XM accounts, select the account you want to withdraw money from by clicking the WITHDRAW button next to that account.
- Select your withdrawal method. Remember the note above.
- The amount you want to withdraw will automatically be converted to USD by XM.
- Click confirm to finish the process.
All deposit and withdrawal options of XM
| payment options | accepted currency | minimum amount | fees | time |
| VISA | USD, EUR | $5 | none | 2 - 10 days |
| mastercard | USD, EUR | $5 | none | 2 - 10 days |
| maestro | USD, EUR | $5 | none | 2 - 10 days |
| webmoney | USD, EUR | $5 | none | 2 - 10 days |
| nganluong | USD, EUR | $5 | none | instantly |
| neteller | USD, EUR | $5 | none | instantly |
| skrill | USD, EUR | $5 | none | instantly |
| bank transfer | any | $150 | depends | 2 - 10 days |
The maximum duration for XM withdrawal is 24 hours. If you haven’t received your money after 24 hours, please contact the XM help team for assistance. XM has a really helpful and professional customer support team. All of your problems regarding XM deposit and withdrawal will be solved in no time.
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Contents of the article
- Top forex bonus promo
- Xm forex withdrawal problems
- XM withdrawal rejected
- Having problems with your withdrawal request? You are not...
- Failure to fulfill bonus trade commitments may tie up your...
- What kinds of bonus programs are prevalent today?
- What types of trading requirements are prevalent today?
- What happened to ironfx and its bonus programs?
- Concluding remarks
- XM withdrawal problems | XM download
- Xm forex withdrawal problems
- XM forex broker reviews and comments 2020 about on
- Xm forex withdrawal problems
- XM withdrawal rejected
- XM.Com withdrawal
- XM.Com withdrawal fees
- How to do XM withdraw funds?
- Having problems with your withdrawal request? You are not...
- Failure to fulfill bonus trade commitments may tie up your...
- What kinds of bonus programs are prevalent today?
- What types of trading requirements are prevalent today?
- What happened to ironfx and its bonus programs?
- Concluding remarks
- XM DEPOSIT AND WITHDRAWAL SYSTEM
- The process of XM deposit and withdrawal
- All deposit and withdrawal options of XM
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