XM Repudiates “Unreliable News Sources” After Reports of Chinese Police Raid

"XM is determined to take all appropriate actions against any defamatory publications in order to protect its reputation."

Following reports that the Chinese police raided its Shanghai offices, XM, the CySEC-regulated broker, has issued a special message to its traders warning them about an alleged attempt to discredit the company with misinformation.

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The message from the broker reads:

“We would like to inform our clients to be cautious of unreliable and uncredited news sources that are quite common in the new age of information. A number of these may be driven by a malicious intent and/or be grievously misleading.

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XM’s reputation has been built throughout the years on the highest principles of fairness to its clients. XM has in place a formal complaint procedure and a client complaint resolution team that deals with all complaints, whether minor or serious, in the most timely and fair manner. There is no real client complaint that has not been dealt with up to the present day.

XM is determined to take all appropriate actions against any defamatory publications in order to protect its reputation.”

Background

This announcement came right after a few English language forex blogs reposted an earlier report from Chinese sources that XM’s Shanghai offices were raided by police over client complaints. The Chinese report even included images claimed to be from XM offices, showing protesters outside the premises and a police officer inside it.

It is not clear yet if the broker intends to sue the websites that published the reports – as the above implies – but the original Chinese report has already been removed from the internet.

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