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  • #1,461
  • Jul 4, 2018 5:00am Jul 4, 2018 5:00am
Quoting londonboy
{quote} can anyone else on FF confirm this? (I am not disputing what you are saying NoESMA) I spoke to my XM contact a couple of weeks ago about this and he said it wasn't possible (yet). I have contacted him again for clarification.
it is.. or at least that's what someone from XM AU support tell me some minutes ago..
they can't translate your EU acc to AU, but you can make a new one
but..... it's worth it?
  • #1,462
  • Jul 4, 2018 5:02am Jul 4, 2018 5:02am
Quoting f0nteide
{quote} it is.. or at least that's what someone from XM AU support tell me some minutes ago.. but..... it's worth it?
It depends on whether you like XM or not.
I think they are pretty decent broker, I have never had an issue with them and have used them alongside GP and IC Markets

Would I move to XM AU ? Possibly

Different brokers suit different people I guess.
  • #1,463
  • Jul 4, 2018 5:29am Jul 4, 2018 5:29am
Well done NoEsma and f0nteide - I stand corrected, EU clients CAN apply to XM AU for an account.
My contact at XM has just confirmed it.

I wish they had said that last week lol
  • #1,464
  • Jul 5, 2018 1:39pm Jul 5, 2018 1:39pm
That's great news.
  • #1,465
  • Edited Jul 7, 2018 1:52am Jul 6, 2018 7:25pm | Edited Jul 7, 2018 1:52am
Hi,


My XM (real ) account not connecting to server at 1 AM London time. for nearly a half an hour now it doesn't connect. But when I tried with my demo account it connects. could you please let me know why this? how to sort it out.


P.S. Sort it out .forget this post. chatted with customer help desk and they couldnt figure out. asked me to rescan server, restrat the computer but all didnt work. reinstalled the platform and it working now.
Focus, Patience, Discipline, Determination and Perseverance
  • #1,466
  • Jul 7, 2018 5:13am Jul 7, 2018 5:13am
I never had a negative result lower than -10% in one month (June 2017) and my system is set to cut (projected) losses at -25%
(wich happens often, but the winnings always exceedes losses and the final monthly result goes positive)
My monthly winning average rate on the last 2 years is about +15% per month...

Well now, if FX Leverage goes down to 1:30 and Margin high up to 50% ...If I'm right, one gonna need 3.33% more money to get the same results..
(see attach, the example is for $1000 account)

My problem is that I can't push risk at -25% now ...the new risk limit must be now -83.3% ...way below the new Margin limit (50%)
As a result of a lower risk, the winning rate will be diminished as well.

So I must say good bye to my average +15% account per month target ...and say good bye to my "red Ferarri" in 3 years
Please, I wish someone smarter than me prove my calculus wrong!

But I guess I'm gonna say good bye XM first ...if XMAU will not save my dream
Attached Image (click to enlarge)
Click to Enlarge Name: leverage_change.png Size: 30 KB
Member
  • #1,467
  • Jul 8, 2018 2:46pm Jul 8, 2018 2:46pm
thanks for the image ; )
Scalping
  • #1,468
  • Jul 8, 2018 8:57pm Jul 8, 2018 8:57pm
Quoting XM
{quote} Dear kosmo, A notification was sent out yesterday to all clients with accounts under our EU based entities. You most likely must have received an email and you will also be able to see a notification in your members area. Thank you,
Hi XM,

I did receive the email, thank you.

Assuming that it is in fact possible for an EU based client to open an account with XM Australia, my next question is whether it is also possible to transfer one's UK account (money and trading history) to XM Australia?

Thank you.
mind over matter
  • #1,469
  • Jul 9, 2018 12:14am Jul 9, 2018 12:14am
Quoting kosmo
{quote} Hi XM, I did receive the email, thank you. Assuming that it is in fact possible for an EU based client to open an account with XM Australia, my next question is whether it is also possible to transfer one's UK account (money and trading history) to XM Australia? Thank you.
Dear Kosmo,

No. These are two independently operated entities and, as such, transfer of accounts, funds or history between different entities is not possible.

Thank you,
  • #1,470
  • Jul 9, 2018 6:50am Jul 9, 2018 6:50am
Quoting TudorIoan
I never had a negative result lower than -10% in one month (June 2017) and my system is set to cut (projected) losses at -25% (wich happens often, but the winnings always exceedes losses and the final monthly result goes positive) My monthly winning average rate on the last 2 years is about +15% per month... Well now, if FX Leverage goes down to 1:30 and Margin high up to 50% ...If I'm right, one gonna need 3.33% more money to get the same results.. (see attach, the example is for $1000 account) My problem is that I can't push risk at -25% now ...the...
Wrong!
Edited now.
You need the same money as long as your overall stop stays above 50%.
You just have to increase the Lot Size (eg: 1Lot ~> 3.33Lot)
Attached Image (click to enlarge)
Click to Enlarge Name: leverage_change.png Size: 41 KB
Member
  • #1,471
  • Jul 9, 2018 7:50am Jul 9, 2018 7:50am
abaut the margin required if a use a mirco lot in eur usd or gbp jpy wath will be the margin ?
Scalping
  • #1,472
  • Jul 9, 2018 9:46am Jul 9, 2018 9:46am
Quoting XM
{quote} Dear Kosmo, No. These are two independently operated entities and, as such, transfer of accounts, funds or history between different entities is not possible. Thank you,
Hi XM,

Thank you for your reply.

One missing piece of information in XM's ESMA notification, which other brokers openly provided in their relevant communication, is the option for Retail Clients to apply for a change of status to Professional Client, resulting in keeping one's leverage unchanged, i.e. up to 1:500, after ESMA's new regulation comes into force.

In your Client Categorisation Policy (https://www.xm.co.uk/assets/pdf/new/...-Policy.pdf?v2), clause 2.2.2 suggests that as long as points (a) and (c) are met, a client status can be changed to Elective Professional Client.

Attached Image (click to enlarge)
Click to Enlarge Name: epc.png Size: 203 KB


While point (c) is self-explanatory, point (a) sounds rather vague and subjective.

I would therefore appreciate if you could elaborate on point (a). In particular, I am interested to know if a multi-month consistently profitable track record is sufficient proof for XM that "the client is capable of making his/her own investment decisions and understanding the risks involved (the "qualitative test")", thus satisfying point (a) as far as "an adequate assessment of the expertise, experience and knowledge of the client"?

If so, please provide contact details for the relevant department, where such applications should be sent.

Thank you.
mind over matter
  • #1,473
  • Jul 9, 2018 1:48pm Jul 9, 2018 1:48pm
Quoting kosmo
{quote} Hi XM, Thank you for your reply. One missing piece of information in XM's ESMA notification, which other brokers openly provided in their relevant communication, is the option for Retail Clients to apply for a change of status to Professional Client, resulting in keeping one's leverage unchanged, i.e. up to 1:500, after ESMA's new regulation comes into force. In your Client Categorisation Policy (https://www.xm.co.uk/assets/pdf/new/...-Policy.pdf?v2), clause 2.2.2 suggests that as long as points (a)...
Dear Kosmo,

To make it easier for you,

In order for a retail client to qualify for professional status on his account he will have to meet at least 2 of the following 3 criteria:

  1. In the past four quarters you have traded an average of 10 times on CFDs, spread betting or on forex.
  2. You have an investment portfolio that exceeds 500,000 Euro or currency equivalent.
  3. You have worked in the financial sector for at least 1 year in a position that has given you knowledge of CFD trading, spread betting or forex trading.

If you wish to apply for professional status please let me or your account manager know and I will forward the request to the correct department.

Thank you,

  • #1,474
  • Edited 1:45pm Jul 15, 2018 1:06pm | Edited 1:45pm
XM
Kindly enlightened me if the XM USD AND EURO DEBIT mastercards are now dead as I observe they have completely disappeared from your deposit or withdrawal methods.
In the event the xm debit mastercards being discontinue will it not have been expected that the $10 and Euro 10 held in the account of each card though was never reflected in the balance as it was said to be held in the event of a transaction with insufficient balance in the account or if there was a penalty be refunded.
Is it possible you sent out a memo and I missed it.

Yes you have a new option i-Account but *Only applicants with proof of address from EEA(European Economic Area) are eligible for i-Card application. Currently I have both USD and EURO XM physical Mastercards.
  • #1,475
  • Jul 20, 2018 1:55am Jul 20, 2018 1:55am
I am working with xm using zero account and micro account. I use to compare other chart like tradingview and they look correct since 5 month i am there.
  • #1,476
  • Jul 27, 2018 6:29am Jul 27, 2018 6:29am
Quoting Liovannix
XM Kindly enlightened me if the XM USD AND EURO DEBIT mastercards are now dead as I observe they have completely disappeared from your deposit or withdrawal methods. In the event the xm debit mastercards being discontinue will it not have been expected that the $10 and Euro 10 held in the account of each card though was never reflected in the balance as it was said to be held in the event of a transaction with insufficient balance in the account or if there was a penalty be refunded. Is it possible you sent out a memo and I missed it. Yes you have...
Yeah I took a screenshot of the original blog post about the XM cards but it seems the details page is not working anymore... ?
https://photoshar.in/xm-prepaid-cards
  • #1,477
  • Jul 27, 2018 7:45am Jul 27, 2018 7:45am
Both XM and csc24seven eventually sent out mails this week. "XM MasterCard card will be deactivated on August 13, 2018".
Its got to do with Mastercards changing the rules of only issuing physical card to EU validated address only. Hotforex is also affected.
Thats why i-Account can onlyonly offers virtual account to none EU clients.
  • #1,478
  • Jul 27, 2018 8:35am Jul 27, 2018 8:35am
Quoting Liovannix
XM Kindly enlightened me if the XM USD AND EURO DEBIT mastercards are now dead as I observe they have completely disappeared from your deposit or withdrawal methods. In the event the xm debit mastercards being discontinue will it not have been expected that the $10 and Euro 10 held in the account of each card though was never reflected in the balance as it was said to be held in the event of a transaction with insufficient balance in the account or if there was a penalty be refunded. Is it possible you sent out a memo and I missed it. Yes you have...

Hi Liovannix,

Seems like I missed the previous post from you, apologies for that, its not like me I don’t know how I missed it but I did. As you noted in your latest post XM Branded Mastercard cards are no longer available to clients living outside the EU.

This is a decision coming directly from Mastercard and we have no power to change or influence their decision.

As you correctly noted above an email has been sent by XM. For convenience to the rest of the members here I am copy pasting the email sent which was sent to holder of XM Branded Mastercards which will be affected by this change.

Dear Valued Client,

As you are a holder of an XM Card offered by Mastercard we would like to inform you that in
the case that you have a remaining balance in your card, you will need to withdraw the
balance before the 13 th of August 2018.

After the 13 th of August 2018 your card will unfortunately no longer function in the same way it functions today.

How can I withdraw the Balance before the 13th of August 2018?

1. You can withdraw the balance at your nearest ATM
2. You can use the remaining balance to deposit the funds in your XM Account.
3. You can use the remaining balance on your card for purchases at any sales point
accepting Mastercard.

We once again would like to apologize for this inconvenience, but it is a decision coming
directly from Mastercard which we cannot affect in any way.

Additional Information

Between today and the 13 th of August 2018, you will also be receiving an email from
CSC24seven which is the issuer of the card you are holding which will be informing you about
the same information. Since the email which will be sent by CSC24seven will be in English we
are informing you beforehand in your local language in order to avoid any confusion.

Thank you,
  • #1,479
  • Aug 1, 2018 5:00pm Aug 1, 2018 5:00pm
MY Broker is XM and on the list of loosers, which they have to declare now, they do quite well although maybe they have been lucky and have managed to lure more clients that can actually trade and make profit rather than those that don't. They also had bonus points which you got with every trade and could cash them in for value or add them to your account as a larger amount and use that to trade with which was a good way to top up without adding any extra money.
I have to add that until the last few months I was on the loose list. However with lots or perseverance I have been doing way better and loosing trades have become a thing of the past. My account was not in a good state and I had been gradually crawling my way back towards break even. Yeah I know that is not great but I thought I would keep going with this account for some fun see if I could actually take it back to positive and try to get my trading better.
I have been following Strat PASR for some time and I must give his thread a great deal of credit for the improvement in my understanding of trading Forex.

I had a notice from XM to say that any bonus points still not claimed would be lost after the new rules kicked in so to cash them in before that date. Now that was good news. The bad news was that any bonus points added to your live trading account up till now would be lost also. Now in my mind, anything that happened before the new rules should have been left alone not taken away. A bit unfair I think. So back to this morning when I logged in to the account I wasn't sure what to expect but to my amazement it was still going. Hmm, I thought lucky me, bonus is still there maybe I read the letter wrong. However later in the morning, I guess when XM head office started, BAM my account was cleared. No warning, no explanation just gone. They took the bonus credit points first which made the account have a margin call I guess. Will I carry on trading is the big question now. Maybe back to demo till I'm sure that I'm on the right track. I wonder how many other accounts XM and other brokers cleared out today? If they would be customer friendly they would have allowed their traders to transfer to outside EU eg Australia. Same company different place but they like to take our money.
  • #1,480
  • Aug 2, 2018 12:46am Aug 2, 2018 12:46am
Good Day everyone,

Does anyone know if it is possible to change my banking details that XM have on file without having to withdraw.
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