XM Withdrawal Rejected


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.

is it allowed to trade with your friends account ? i dont think so.

and it makes complete sense (for security reasons for example) that you cant withdraw to a skrill account that has another owner than the trading account.

so, let him create a skrill account, withdraw to that and then transfer the money on skrill. shouldnt be a problem when he is your friend.

creating your own trading account takes just a few minutes … why didnt you do that ? frankly, you summoned these problems by yourself

They are not giving withdrawal to any skrill account.
The reason for that is i made a third party withdrawal.

I do all my withdrawals with Skrill… even multiple thousand dollar and it goes quickly without any problem. Here is one from last year = xm-4000-skrill-withdrawals-2016 - Free & Detailed Image Hosting

I think you’ve misunderstood what they mean by “third party”.

When they say that you can’t withdraw funds to a third-party, they’re complying with the international anti-money-laundering regulations imposed on them by law and regulators. The “thirdy party”, in this context, isn’t Skrill: it’s the person whose Skrill account you (unfortunately) used to deposit the funds.

They’re not allowed to let the [I][U]initial[/U][/I] funds be withdrawn in a different way from the way in which they were deposited, but [I]they’re also not allowed to pay funds out of your account to anyone other than you[/I].

This problem has arisen because they didn’t check the source of the funds “on the way in” (maybe because they’re a bad broker - I don’t know), but they do still have a legal obligation to check them on the way out. Awkward, and unpleasant, in the circumstances.

I hope you manage to resolve it with them. It should be possible, if they’re honest, but it’s probably going to incur some documents and delays, and maybe a signed statement from the person whose Skrill account you used, to deposit the funds in the first place. Good luck!

For future reference, Skrill is a [I][U]very[/U][/I] bad way to pay funds in and out of brokerage accounts: all it does is incur additional delays, cost and problems. Here’s the thing: you can’t trade forex and receive the profits without having a bank account, and the quickest and cheapest way to do this is directly to/from your bank account. If the bank charges fees for this, [I]you’re going to have to pay them at some stage anyway[/I], to bank your profits. It’s the unnecessary third-party intermediary that causes the additional problems.

“Using other people’s accounts” is [I][U]never[/U][/I] a good idea: usually, it breaches all kinds of small-print regulations (which most people don’t read) and in reality it [I]often[/I] leads to problems. :frowning:

Sorry, I know it’s not what you wanted to hear :8: but I’m afraid “it is what it is”.

1 Like

Not sure who we are even talking with? The case is 4 years old, the person has not made a post since then, so whats the point in pulling up a dead and buried thread? Also, i find it strange that [B]Mr.stealthepips[/B] wants to put his 4xxx withdrawal image on every single thread. Now that too on 4 years OLD THREAD!

Honestly I’m curious to know if this case has been resolved. If scorpion007net can tell us, it would be great. But I think that initially is the broker’s fault because they did not check the source of this deposit. Since they claimed that it has been made by a third party, they should have cancelled and returned it to the source. At least this is what most brokers do when they have such case.

forex brokers only accept deposits from the user whose name matches the deposit and trading account.Third pirty is not allowed to avoid money laundering claims.
You can deposit to skrill or neteller using 3rd party but from skrill/neteller is a no

This is an old thread. Looking at it, I don’t see any correlation between deposit methods and the profit made from trading. The fact that the OP deposited via third party does not mean his profit will be cancelled. They should allow him to withdraw back to the same deposit method used, unless they look for excuse to cancel his profit. behavior like this is the reason I left my former broker to trade with Forexchief broker. i just hope it will be my last stop.

1 Like

Actually XM is right in this case, but also wrong.

  • Right because normally a Forex account should be funded by same name payment method (skrill, bank)
  • Wrong is they shouldn’t accept your fund and reject it from the beginning or when money was already credited.

In these case, just accept you lose your profit, and don’t trade with this broker anymore

If it were me, they will refund that money. I am sure they are registered to a regulatory body.

Strange because I never had any problem withdrawing with XM, either using Skrill or SEPA wires.

Heres a screenshot for example : https://photoshar.in/xm-4000-skrill-withdrawals-2016