XE Trade - Account Cancelled

Anyone else have an unauthorized cancellation?

The policy is:

Reasons for cancellation can include, but are not limited to:

Failure to remit payment for booked transactions
Unusual account activity, suggesting potential misuse by a third party
Instructions from you to cancel your account.


Please advise...

Have you contacted XE to ask why?

I have contacted the company, however at this time the only reason seems to be that I live in Mexico, even though I have other financial accounts in Canada as a non-resident which XE is aware of.

I would assume that means their policy is to not work with people residing in Mexico. That seems not to be an unusual policy these days.

Lady Otter Latté wrote:I would assume that means their policy is to not work with people residing in Mexico. That seems not to be an unusual policy these days.

It only seems to be American citizens living outside the US. (FATCA)

Even 1 million accidental American citizens living in Canada.

My account was cancelled too. Because I am living in Mexico.

Another reason for keeping an address with relatives or friends back NOB. I know not everybody can do this but if you can it does stop cold problems like this. Backup local Mexican account is handy also for example I didn't have to do anything when BOA cancelled the Scocia bank deal. I guess I take the attitude that anything can happen and plan accordingly.

Z

Perhaps XE Trade is tracking IP addresses and eliminating those accounts accessed from Mexico?

Posted 19 August 2011 - 06:49 PM

If you want to open or maintain an account with Xe.com (and, in effect Custom House/Western Union) you must have the account listed to your permanent address is in the U.S., Canada, or other acceptable country, that is, do NOT provide a Mexican address or indicate a Mexican residence. If you can provide an account address not in Mexico, then you can continue to transfer funds to Mexico

YoListo

Also, keep in mind that besides having a  U.S. or CND address --- you need to sign up
for a  "legitimate"  VPN  address / connection.
Bob was addressing the IP / VPN issue(s).

The purpose for that would be to be able to make trades, transfer those funds to another
U.S./ Canadian based Bank Account, wire(S),  etc.

Most, if not all businesses within,  or abroad,  will trace your  IP  address and in
the case of NOB  (or SOB from the U.S. / Canada) ,  Mexico no longer appears to
be \ on that  " acceptable No " money laundering list.  Go figure, it's a joke but ...
Wishing you good luck.