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  • #1,481
  • Aug 2, 2018 7:49am Aug 2, 2018 7:49am
Dear XM
Can you make me understand why we have to use a third party like i-account which offer less than the original account where the money came from? Just a virtual account without a physical i-card and my primary account does all and has a card
You once had the option of withdrawal to the card originating the deposit. It is clear you still have that option but only the back office can use it for withdrawal and only up to the original money deposited after which ecurrency will be processed and then International Wire Transfer in that priority.
If a client wants all the withdrawal via the card the money was deposited what is the option to choose as it make no sense to use International Wire Transfer which is more expensive.
Left to me Paypal make more business sense than i-account except of course if XM has shares in i-account.
  • #1,482
  • Aug 3, 2018 6:49am Aug 3, 2018 6:49am
I am using MT5.
I have a mental take profit level. When the price moves to within my take profit level, I want to set a take profit price. But the MT5 does not let me. It'll only let me set a take profit price that is larger than 4 pips from the current price.
May I know if this restriction of not being able to set a take profit within 4 pips a MT5 feature, or a broker feature?
  • #1,483
  • Aug 3, 2018 5:26pm Aug 3, 2018 5:26pm
Hello XM
I guess my post is missed again.
I-account is killing for small time retail traders. From their website "The amount more than the equivalent of USD30,000.00 (>30,000.00), an additional fee of up to 1.8% will be deducted. 5.00～25.00/Transaction"
For a $ 300 i just paid a fee of $25.
How do one deposit into XM account from i-account?
How do one withdraw money from XM to a bank debit/debit card.
  • #1,484
  • Aug 4, 2018 2:03am Aug 4, 2018 2:03am
Quoting Liovannix
Dear XM Can you make me understand why we have to use a third party like i-account which offer less than the original account where the money came from? Just a virtual account without a physical i-card and my primary account does all and has a card You once had the option of withdrawal to the card originating the deposit. It is clear you still have that option but only the back office can use it for withdrawal and only up to the original money deposited after which ecurrency will be processed and then International Wire Transfer in that priority....

Dear Liovannix,

In order to first be able to help you correctly please let us know which country you are trading from or alternatively please provide us your MT4/MT5 number.

Now in order to answer your questions based on what I understand, I am summarizing your questions below:

1. You are asking why XM offers deposit/withdrawal via i-account? Do I understand this correctly?
2. Your second question is regarding the limits of sending money back to the cards which were used to deposit funds and why amounts exceeding deposits are sent via bank transfer and not to the credit card that was used to deposit?
3. You are asking why Paypal is not available as a deposit/withdrawal option?
4. You are asking if XM is a shareholder in i-account?

Answers:

1. The deposit/withdrawal options available for each country vary based on what is applicable and based on which payment processors can accept deposits or withdrawals from certain regions. The offering of i-account is another option which our clients can use. It is clearly up to the client if he finds this option useful or cost-efficient.
2. In order to understand this you need to understand that not all credit cards accept withdrawals exceeding the limit deposited. Therefore in the case a credit card cannot accept a withdrawal which exceeds the amount deposited the only way we can process your withdrwal is to use wire transfer or another option. This is not a decision made by XM but a decision made by the credit card company and the type of card used to deposit at XM.
3. Although we understand Paypal is a very convenient payment option, please understand that Paypal does not cooperate with brokerages. We would love to be able to offer Paypal but it is not possible due to Paypal restrictions.
4. XM is not a shareholder in i-account. We have the same relationship with i-account as we have with all the payment options/processors which we offer.
  • #1,485
  • Aug 4, 2018 2:08am Aug 4, 2018 2:08am
Quoting Liovannix
Hello XM I guess my post is missed again. I-account is killing for small time retail traders. From their website "The amount more than the equivalent of USD30,000.00 (>30,000.00), an additional fee of up to 1.8% will be deducted. 5.00～25.00/Transaction" For a $ 300 i just paid a fee of $25. How do one deposit into XM account from i-account? How do one withdraw money from XM to a bank debit/debit card.
Dear Liovannix,

I have just replied your previous post above. However since you seem to have questions related to how you can deposit/withdraw I recommend you provide me your account number and I will ask an account manager to contact you.

Deposit/Withdraw options vary based on country.

Please provide me your MT4/MT5 account number only and I will ask an account manager to contact you immediately.

Thank you,
  • #1,486
  • Aug 4, 2018 5:14am Aug 4, 2018 5:14am
Quoting XM
{quote} Dear Liovannix, In order to first be able to help you correctly please let us know which country you are trading from or alternatively please provide us your MT4/MT5 number. Now in order to answer your questions based on what I understand, I am summarizing your questions below: 1. You are asking why XM offers deposit/withdrawal via i-account? Do I understand this correctly? 2. Your second question is regarding the limits of sending money back to the cards which were used to deposit funds and why amounts exceeding deposits are sent via bank...
Thanks for the reply. Glad you are not shareholder in i-account because the way it was forced down clients throat was very suspect. XM cards were a major decision in trading with XM. Since I complained over the disappearance of XM cards its like XM are in a damaged control mode with circular going out regularly. Case of placing the horse before the cart.
I trade from South Africa and the banks have no limit of withdrawal to the card because almost all the cards where the deposit originated from are actually DEBIT cards and the limit is the account limit. Like other brokers one has the option of providing an account or card as long is in one’s name.
On the i-account the more I go through their services the less its usefulness to non EU clients. I have sent a query to them on how to do online shopping as I am yet to see where to activate such as I am sure it’s only for EU. I have not even seen how to make a deposited to even XM trading account. XM is a multi-million Dollars company so I am sure a tailor made package should have be put together for XM. Your referrer seems to only provide commission for XM and nothing about i-account promise to treat clients to lower charges. I have an Entropay account and they don’t have problem with VISA (Entropay Visa cards are issued by Bank of Valletta, pursuant to a license from Visa Europe). So if MasterCard can’t support XM there are VISA and many others.
On Paypal, I don’t know their modalities but they cooperate with some broker. See attached for example.
I choose that the issues to be ventilated here in open forum rather than providing my trading account and make it private. Some persons here were instrumental to making XM my choice broker and it will be important they are also part of the discussion. I am not the only clients affected here. Some of us who lost money in Liberty Reserve e-currency are still shy of Neteller, Skrill (MoneyBookers), WebMoney and Perfect Money. So I will like us to discuss issues rather than person if don’t mind please.
Regards.
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  • #1,487
  • Aug 4, 2018 7:38am Aug 4, 2018 7:38am
Quoting Liovannix
Hello XM I guess my post is missed again. I-account is killing for small time retail traders. From their website "The amount more than the equivalent of USD30,000.00 (>30,000.00), an additional fee of up to 1.8% will be deducted. 5.00～25.00/Transaction" For a $ 300 i just paid a fee of $25. How do one deposit into XM account from i-account? How do one withdraw money from XM to a bank debit/debit card.
What about the prepaid card option? Should be way easier (and cheaper) than normal CC processing = https://photoshar.in/xm-prepaid-cards
  • #1,488
  • Aug 4, 2018 10:22am Aug 4, 2018 10:22am
Quoting rockthepips
{quote} What about the prepaid card option? Should be way easier (and cheaper) than normal CC processing = https://photoshar.in/xm-prepaid-cards
Read the above post #1,478.
They are dead after August 13 2018. I have both cards.
  • #1,489
  • Aug 6, 2018 6:52pm Aug 6, 2018 6:52pm
Except you want to do International Wire Transfer at a min fee of $25 (I-ACCOUNT) which you can do straight at XM and cheaper I-ACCOUNT HAS NOTHING TO OFFER.

On Line I-ACCOUNT SHOPPING.

I will like to use my i-account for on-line shopping.

I am from South Africa and understand I can not get the icard.

Regards.

LBD_Account Manager_EN (Support Center)
Aug 6, 12:48 CST
Dear xxxxxxx,

Good day!

I understand that you need to use our platform for online shopping. However, we are not yet integrated to online payments. Regarding the card, we are about to unveil new cards which would be available to all our clients even outside Europe. Rest assured that we will keep you informed as soon as the cards are available for orders.

Best regards,

xxxxxxxxxxxxx

Q&A: https://www.i-account.cc/faq/
Service Email: [color=#1155CC][email protected][/color]
  • #1,490
  • Aug 8, 2018 5:55am Aug 8, 2018 5:55am
THANK YOU XM
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  • #1,491
  • Aug 8, 2018 6:10am Aug 8, 2018 6:10am
Why was that was it a margin call or some such thing ?
  • #1,492
  • Aug 8, 2018 6:41am Aug 8, 2018 6:41am
Was in profit before retracement yesterday. Margin call but FORCED just at reversal as the price never got to 1.69216 on GBPCAD. I guess all brokers are stop loss hunters including XM.
Still unable to fund from iaccount as I must first do wire transfer before making a deposit.
I was playing around with the LOYALTY POINTS reward. So only lost about $20 in real Balance.
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  • #1,493
  • Aug 8, 2018 7:32am Aug 8, 2018 7:32am
Yes it is a pity when it happens, but I suppose that is how it works. There is not much we can do and I suppose they also have their limits placed by those to whom they have to account.
  • #1,494
  • Aug 14, 2018 4:56am Aug 14, 2018 4:56am
Quoting Liovannix
THANK YOU XM {image}
Dear Liovannix, tmannie,

XM did not take you out of the market as you indicated in your screenshot.

According to the checks I have made on your trades it seems you are confused with bid/ask prices on the chart.

From what I understand you are looking at bid prices, however you must add up the spread in order to find the ask price that is the one which closes sell orders.

At the time of the stop out, your margin fell below 20%. Your equity went to 5 USD and your margin was 25.9 USD, hence your margin level fell to 19.2% which correctly triggered the stop out procedure.

I hope this clears out the picture for you.

Thank you,
  • #1,495
  • Aug 17, 2018 8:54pm Aug 17, 2018 8:54pm
Hello, XM!

I want to know if there is any mistake about the MT4 - XM Zero Account commission fee.

ref: https://www.xm.com/account-types/zero

I traded USD/JPY for 0.01 lot, the commission should be $0.035 instead of $0.07

Am I correct? or did I misunderstood something? please clarify.
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  • #1,496
  • Aug 20, 2018 8:55am Aug 20, 2018 8:55am
Quoting iJoe
Hello, XM! I want to know if there is any mistake about the MT4 - XM Zero Account commission fee. ref: https://www.xm.com/account-types/zero I traded USD/JPY for 0.01 lot, the commission should be $0.035 instead of $0.07 Am I correct? or did I misunderstood something? please clarify. {image} {image}
Dear iJoe,

When trading on XM Zero accounts the commission fee is $3.5 per $100,000 traded upon opening a trade and $3,5 per $100,000 traded upon closing the order.

I hope this resolves your query.

Thank you,
  • #1,497
  • Edited Aug 23, 2018 5:42am Aug 22, 2018 1:17pm | Edited Aug 23, 2018 5:42am
i-Account is a fraud if you are outside Euro Zone

XM seems to be changing deposit and withdrawal option every two-two minutes.
They have just brought back Withdraw Funds - via Credit/Debit Cards which was unavailable till a few days ago. Unfortunately the only option I had to withdraw fund was i-Account which has turned out to be a nightmare as I prefer my funds to remain in USD and not e-currency or my local currencies.
I wired from my i-account USD 281 after paying a service fee of USD 25, i-Account further took another USD 25 with no explanation nor communication to me why and they went to requested a wire transfer from their bank of USD 256 on my behalf which attracted another service fee of USD 6.25. Unfortunately there is nowhere in the transferring document did my name appear which I only get from my recipient broker so basically it’s just a third party funds and no broker accepts that. So probably the recipient broker will return the funds to where it came from and that’s another charges.

NB
USD 256 has been credited to my trading account as at 8.28am August 23, 2018
8:28 AM
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Attached File(s)
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  • #1,498
  • Aug 23, 2018 3:07am Aug 23, 2018 3:07am
Quoting Liovannix
i-Account is a fraud if you are outside Euro Zone XM seems to be changing deposit and withdrawal option every two-two minutes. They have just brought back Withdraw Funds - via Credit/Debit Cards which was unavailable till a few days ago. Unfortunately the only option I had to withdraw fund was i-Account which has turned out to be a nightmare as I prefer my funds to remain in USD and not e-currency or my local currencies. I wired from my i-account USD 281 after paying a service fee of USD 25, i-Account further took another USD 25 with no explanation...


Dear Liovannix,

First of all:

You must understand that you will only see the credit card/debit card withdrawal option under the Withdrawals Tab if you have made a deposit with a credit card/debit card.

If you deposited 3000 USD via credit card/debit card for example and you withdraw 2500 USD via credit card/debit card you will still see the credit card/debit card under withdrawals until you withdraw the remaining 500 USD.

So as a summary of bullet 1 the withdrawal options a client sees depends on the deposit options he used to add funds to his trading account in the first place.

Secondly:

You post on this forum with BIG RED Letters that i-account is a fraud if you are outside Euro Zone.

If you consider i-account to be expensive for you that does NOT make it a fraud and you have no right to come to a public forum making false accusations.

i-Account is one of the many payment processors XM uses and as noted to you in a previous forum we are not a stakeholder or directly related to them. Our relationship is exactly the same to many other processors we use all over the world but you still have absolutely no right to be making false accusations.

A fraud is something completely different from something feeling too expensive for someone.

You maintain the right to call it expensive or not useful or even silly or whatever else you wish but its unethical to call it a FRAUD.

--

You have attached a slip of a bank wire withdrawal. This has nothing to do with your trading account. This a slip sent from i-account to you when you asked them to place the money where you wanted.

1. You withdrew money from XM to i-account
2. i-account will send you your money where you ask them (similar to a bank, an electronic waller like Neteller or Skrill or Paypal)


Finally:

If you feel i-account is too expensive for you, simply use a different option which might be available in your region.

Thank you,
  • #1,499
  • Edited 6:01am Aug 23, 2018 5:08am | Edited 6:01am
Quoting XM
{quote} Dear Liovannix, First of all: You must understand that you will only see the credit card/debit card withdrawal option under the Withdrawals Tab if you have made a deposit with a credit card/debit card. If you deposited 3000 USD via credit card/debit card for example and you withdraw 2500 USD via credit card/debit card you will still see the credit card/debit card under withdrawals until you withdraw the remaining 500 USD. So as a summary of bullet 1 the withdrawal options a client sees depends on the deposit options he used to add funds...
First of all:
I expect XM to be able to vouch for any provider they bring to client.
For you to defend the i-Account if you don't have invested interest is suspect. When you read their offerings you are promised with so many opportunities which doesn't exist as I only learnt from inquiry that they are not yet integrated to any payment platform. What do you call that? Deceit?

Secondly:
I have every right in the World to accuse them of fraud even iAccount is investigating what happened that my USD 281 became USD 256 knowing fully well that I have already paid USD 25 as charges and I am waiting to hear from them. So when you lecture my of the meaning of fraud kindly explain to me if it was a typo error. You should have taken the time to read and reconcile the figures. The slip is a proof of how much was actually sent by i-Account to my broker and the pdf is a proof of how much I actually sent. Thanks to my brokers that sent it to me.

Finally:
If you read from above too I have said it repeatedly I dont do any thing that is not in cash USD not Neteller or Skrill or Paypal. The reason I choosed XM was because of the option of XM mastercards and I was learning forex so my deposit limit was low.

Thank you.
  • #1,500
  • Aug 23, 2018 6:42am Aug 23, 2018 6:42am
Quoting Liovannix
{quote} First of all: I expect XM to be able to vouch for any provider they bring to client. For you to defend the i-Account if you don't have invested interest is suspect. When you read their offerings you are promised with so many opportunities which doesn't exist as I only learnt from inquiry that they are not yet integrated to any payment platform. What do you call that? Deceit? Secondly: I have every right in the World to accuse them of fraud even iAccount is investigating what happened that my USD 281 became USD 256 knowing fully well that...


Dear Liovannix,

For the last and final time I will try and explain something that you seem unable to understand:

You consider one of the payment options XM offers expensive specifically you consider i-account expensive.

That does not make i-account or any other payment provider which has higher charges than what you expect a FRAUD.

This forum is related to XM’s services and not related to the services offered by VISA, Mastercard, Neteller, i-account or any other payment provider that exists.

XM has been serving you with honor and the same goes with the payment providers we work with. The fact that you might consider the fees they charge you as their client steep does not classify any of these processors as FRAUD.

If you cannot understand this, I believe we are wasting our time addressing this on this forum which it actually does not belong in the first place as once again this forum is here to address your queries related to XM and not to third companies.

Now to address your comments for the final time.

You say XM must be able to vouch for payment processors it offers.

The payment processor you are complaining about has not taken your money or treated you unethically. It is just charging you a fee when you make a withdrawal from their wallet to your desired destination.

You say you have every right in the world to call i-account a fraud.

Unfortunately you do not. I am not a legal counsel nor a solicitor but as friendly advice you cannot call any individual or company a fraud with no legal grounds. You can categorize them as expensive for your taste but not a fraud.

You say you chose XM initially because of the XM Mastercard option and you have a problem that it is not available anymore.

Not being able to offer XM Mastercards to NON EU citizens is not a decision made by XM but a decision made by Mastercard directly. Although I understand that nobody likes changes, you must understand that it is not our decision of discontinuing this service.
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