XTB customer claims £7,000 missing after account closure
A Trustpilot user reports that XTB closed their account without explanation, and after attempted transfers, funds of over £7,000 have not arrived. The user claims poor customer service and unresolved complaints.
XTB is in the FXCanary database Our review · 20/100 →What the reviewer wrote“XTB Lost My Cash & The Service Is Awful!. I opened my XTB account in April in order to transfer my Trading Account from another provider, to take advantage of their commission free trading. Six weeks later they still hadn’t managed to transfer my shares to my new account. Recently I received an email saying that they were going to close my account, giving no reason. The Email requested that I transfer the cash within my XTB trading account to my nominated bank account, howeve…”
A dissatisfied customer has taken to Trustpilot to report issues with broker XTB, alleging that the firm lost a significant amount of money during an account closure process. The complainant, who opened an XTB account in April, claims they were unable to transfer shares from another provider for six weeks, then received an unexpected email stating their account would be closed with no reason given.
According to the post, the email instructed the user to transfer cash to their bank account, but the platform blocked the transfer. After contacting a manager, the user says the system was updated, but transfers still failed. On a second call, a transfer appeared to succeed, leaving the XTB account, but the funds – over £7,000 – have not arrived in the user's bank account after almost two weeks. The poster claims that XTB is no longer returning calls, and an email to the director has gone unanswered. An official complaint has been lodged but has not received a response.
The user concludes with a warning to others considering opening an account with XTB, emphasizing the alleged poor service and lost funds.
These allegations are solely based on the user's claims and have not been independently verified. XTB has not yet publicly responded to this complaint. This incident highlights potential red flags such as unexplained account closures, delays in fund transfers, and communication breakdowns.
For traders, this case underscores the importance of understanding a broker's procedures, keeping records of all transactions and communications, and knowing the regulatory channels for dispute resolution. If you experience similar issues, consider filing a formal complaint with the broker, then escalate to relevant financial regulators or ombudsman services. Also, be wary of any requests to move funds that seem unclear or blocked; always contact support and document every interaction.
While many brokers operate legitimately, individual experiences can vary. It is crucial to research and exercise caution when choosing a broker, and to act promptly if problems arise.
This report summarises a third-party post; all allegations are attributed to the original source and are not independently verified by FXCanary. It is not a statement of fact or a legal judgment. Firms may request a correction.