I'm quite curious. I've been trading with XM for a year or just over a year. I've been able to withdraw small amounts at a time. But I just discovered a profitable trading strategy and wanted to do my own due diligence per se. I looked at over 30 websites for FX Broker ratings and the famed Peace Army. What I've noticed is the high ratings(Usually 5 stars) gives a generic comment of "Oh, this broker is great," or "XM is the best thing since bread and butter." But I'm reading lots of negative reviews even in particular for this year 2020. The primary problem is between these two scenarios: A) Trader is profitable rather quickly, or B) Trader is withdrawing a lump sum. What happens is the profits are cancelled the the account is terminated, usually both the profits as well as the original deposit is never retrieved. In both of these cases, the XM representative gives off these really weird explanations without posting any evidence.
The following explanations that I've commonly seen are:
1) Trader is using arbitrage
2) Trader has multiple accounts
3) Trader is making profit "unfairly"(whatever that means)
4) Trader is doing fraudulent activity in the account hence the termination
Mind you this stuff you can find under forex reviews, specifically cases filed against XM in FPA. There's even a 2-part video of valid proof that slippage and market execution can have a gap of MINUTES. Yes you heard that right, minutes. The most bizarre explanation I've ever read was when the XM representative claimed that the trader was taking advantage of the MT4 terminal errors using "round numbers". Don't get me started, I don't know what the hell that even means. I dug up on a little history with XM and it turns out they used to be called XeMarkets. You can read a load of complaints against them googling.
With all that out of the way, it seems there's a lot of conflicts of interest here and not just with the brokers but even public hubs such as Forex Factory. So I want to know, if you're trading forex, have you ever used OR still using XM and have withdrawn $10k or more from XM? I mean profits, not recouping what you've lost but actual money made? I also want to ask the community if the answer to the first question is no, what's the best broker with no fuss or hassle that let's you withdraw straightaway with a low minimum deposit?
The following explanations that I've commonly seen are:
1) Trader is using arbitrage
2) Trader has multiple accounts
3) Trader is making profit "unfairly"(whatever that means)
4) Trader is doing fraudulent activity in the account hence the termination
Mind you this stuff you can find under forex reviews, specifically cases filed against XM in FPA. There's even a 2-part video of valid proof that slippage and market execution can have a gap of MINUTES. Yes you heard that right, minutes. The most bizarre explanation I've ever read was when the XM representative claimed that the trader was taking advantage of the MT4 terminal errors using "round numbers". Don't get me started, I don't know what the hell that even means. I dug up on a little history with XM and it turns out they used to be called XeMarkets. You can read a load of complaints against them googling.
With all that out of the way, it seems there's a lot of conflicts of interest here and not just with the brokers but even public hubs such as Forex Factory. So I want to know, if you're trading forex, have you ever used OR still using XM and have withdrawn $10k or more from XM? I mean profits, not recouping what you've lost but actual money made? I also want to ask the community if the answer to the first question is no, what's the best broker with no fuss or hassle that let's you withdraw straightaway with a low minimum deposit?
