• Report: #1025657

Complaint Review: XP Markets

  • Submitted: Fri, March 08, 2013
  • Updated: Fri, March 08, 2013

  • Reported By: iratei — Concord Massachusetts United States of America
XP Markets
Internet United States of America

XP Markets Did not match funds. Market prices suspect. Slow/won't to allow withdrawal of your money. Internet

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XP Markets is not like any other financial trading service. It is designed to take your money. It lures people in to what is already a sketchy marketplace (Binary Options trading) by having third parties create enticing ads offering to match whatever money you start your account with (then they renig and claim they have no affiliation with the ads) and then won't let you remove your own money without endless red tape. No hassle or IDs involved with putting in money, only taking it out. The red tape includes multiple IDs, a copy of a utility bill, protracted waiting periods, a limit on how much you need to have IN before you can take the money out (eg, if you are down to your last $150, they will tell you you can't withdraw less than $200) and endless emails to resolve things, each taking a number of days before they respond.

On top of that, it turns out that they do not have to provide you with the real market ticker for the prices of any stock or commodity that determines whether you win or lose money. So, in an option expiring in a few minutes or a half hour, it is maddening to see yourself be "in the money" for the majority of the time duration, only to drop below the necessary price at the last second. Checking withe actual prices of the commodity later at that precise time does not match what XP Market's own charts showed. This is like playing cimputer poker with a computer that can deal itself any card it wishes to be better than the hand it already knows you are holding.
"Live Chat" is curiously never available. No phone number listed. Only an email address for Jeremie to address complaints to.
Do NOT get lured in, do not invest here, find a legitimate platform for your trading where there is some accountability.

This report was posted on Ripoff Report on 03/08/2013 12:55 PM and is a permanent record located here: http://www.ripoffreport.com/reports/xp-markets/internet/xp-markets-did-not-match-funds-market-prices-suspect-slowwont-to-allow-withdrawal-of-1025657. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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