Master Yoda
Captain
- Messages
- 2,929
You Bahratt, any update??
CFD1000.com - Algo Trading
- Thread starter Bharatt
- Start date
-
- Tags
- cfd1000.com
Dear Pharoh / Master Yoda,
My apologies for the delay in response. I would like to update you with the status and alert the rest of the fellow traders about this broker.
Since the last update, I was informed by Rose Guion that she has been promoted in the company and that she does not handle my account any longer. I account was passed on to Jean Martinez. He has a Russian accent and called me few times from Italian number however when I asked him where he is based, I was informed he is based in London. He wanted me to invest further funds in the account for faster recovery however I told him I want to first see my initial investment recovered before I invest further. He traded my account for few weeks and it was slowly recovering the losses. However one fine day there were suddenly big positions opened and several open positions. I immediately warned both Jean and Rose about not allowing third margin call to my account. Unfortunately in few days the account was again hit with a margin call due to absolute careless behavior of the fund manager who does not seem to understand the meaning of position sizing and money management. It was clearly a deliberate act of opening big positions and causing a margin call. When I discussed this with Rose, she informs the market contains risks and I should be aware of it and according to Jean I should further invest with them for me to recover my investment.
I followed up with Jean several times however he does not seem to be interested in responding hence I have concluded CFD1000.com is a complete scam and I would like to make it loud and clear to all the existing investors and the potential investors not to deal with this company. They will show you progress for few weeks or possibly little longer however one fine day they will shock you with their sheer carelessness and destroy your account. I have seen this happening thrice with my account. If it was a genuine company, they would have refunded my amount for their negligence however they simply have decided to ignore my mails hence their is little left to talk about them.
I would certainly like to sue this company and take a legal route however I fail to understand which country they belong to and which financial authority allows their operations. Any suggestion / recommendation in this regards would be helpful. I believe in justice and fairness and would appreciate if Forex Peace Army can assist me in exposing this company to ensure other investors are not cheated.
My apologies for the delay in response. I would like to update you with the status and alert the rest of the fellow traders about this broker.
Since the last update, I was informed by Rose Guion that she has been promoted in the company and that she does not handle my account any longer. I account was passed on to Jean Martinez. He has a Russian accent and called me few times from Italian number however when I asked him where he is based, I was informed he is based in London. He wanted me to invest further funds in the account for faster recovery however I told him I want to first see my initial investment recovered before I invest further. He traded my account for few weeks and it was slowly recovering the losses. However one fine day there were suddenly big positions opened and several open positions. I immediately warned both Jean and Rose about not allowing third margin call to my account. Unfortunately in few days the account was again hit with a margin call due to absolute careless behavior of the fund manager who does not seem to understand the meaning of position sizing and money management. It was clearly a deliberate act of opening big positions and causing a margin call. When I discussed this with Rose, she informs the market contains risks and I should be aware of it and according to Jean I should further invest with them for me to recover my investment.
I followed up with Jean several times however he does not seem to be interested in responding hence I have concluded CFD1000.com is a complete scam and I would like to make it loud and clear to all the existing investors and the potential investors not to deal with this company. They will show you progress for few weeks or possibly little longer however one fine day they will shock you with their sheer carelessness and destroy your account. I have seen this happening thrice with my account. If it was a genuine company, they would have refunded my amount for their negligence however they simply have decided to ignore my mails hence their is little left to talk about them.
I would certainly like to sue this company and take a legal route however I fail to understand which country they belong to and which financial authority allows their operations. Any suggestion / recommendation in this regards would be helpful. I believe in justice and fairness and would appreciate if Forex Peace Army can assist me in exposing this company to ensure other investors are not cheated.
Pharaoh
Brigadier General
- Messages
- 20,308
Trace the money if possible. If you deposited by credit card or bank wire, ask the fraud department of your issuing bank 2 things:
1. How to file fraud charges.
2. Details on the receiving bank (which you'll be asking question 1 of as soon as you can make contact).
Never allow a broker employee or an IB to trade your account.
1. How to file fraud charges.
2. Details on the receiving bank (which you'll be asking question 1 of as soon as you can make contact).
Never allow a broker employee or an IB to trade your account.
I would certainly agree. These guys are absolute crooks and they will eventually steal your hard earned money. They did offer lot of false promises however failed to live up to any of it and continue to ask for more funds in order to recover the investment.
Some more proof of them being dishonest includes:
1) scamadviser.com/is-cfd1000.com-a-fake-site.html
There site is classified with Low Trust Rating and identified as unsafe to use. It is based on Russian Federation with safety level as little as 25%.
2) blacklistedbrokers.com/warnings/search.php?mots=cfd1000
CFD1000 Ltd / 1000Trading Group Corporation is in breach of French law and is not required to follow the basic rules of investor protection, good information or claims processing.
3) tradecomplaint.com/trading-reviews-complaints/India/cfd1000-com-reviews-complaints/forex/fx-broker/fraud-fund-mangers-of-broker-cfd1000-com_i12930#.Vbew1vmqpBc&gsc.tab=0
4) .tradecomplaint.com/trading-reviews-complaints/India/CFD1000-com-reviews-complaints/forex/fx-broker/cfd1000-com-cfd1000-broker-are-a-fraud-service-provider-in-forex-market_i13164#.Vbew3PmqpBc&gsc.tab=0
I will share more information about them in near future so that other investors are not cheated. I certainly would agree with the statement from Pharaoh that "Never allow a broker employee or an IB to trade your account". I urge all the investors of CFD1000.com to withdraw your funds before its too late. If they turn out to be genuine broker and if they do refund my investmest I will keep you posted.
BW
Some more proof of them being dishonest includes:
1) scamadviser.com/is-cfd1000.com-a-fake-site.html
There site is classified with Low Trust Rating and identified as unsafe to use. It is based on Russian Federation with safety level as little as 25%.
2) blacklistedbrokers.com/warnings/search.php?mots=cfd1000
CFD1000 Ltd / 1000Trading Group Corporation is in breach of French law and is not required to follow the basic rules of investor protection, good information or claims processing.
3) tradecomplaint.com/trading-reviews-complaints/India/cfd1000-com-reviews-complaints/forex/fx-broker/fraud-fund-mangers-of-broker-cfd1000-com_i12930#.Vbew1vmqpBc&gsc.tab=0
4) .tradecomplaint.com/trading-reviews-complaints/India/CFD1000-com-reviews-complaints/forex/fx-broker/cfd1000-com-cfd1000-broker-are-a-fraud-service-provider-in-forex-market_i13164#.Vbew3PmqpBc&gsc.tab=0
I will share more information about them in near future so that other investors are not cheated. I certainly would agree with the statement from Pharaoh that "Never allow a broker employee or an IB to trade your account". I urge all the investors of CFD1000.com to withdraw your funds before its too late. If they turn out to be genuine broker and if they do refund my investmest I will keep you posted.
BW
False claims on regulation - Beware existing and potential CFD1000.com clients
I will continue to provide further advisory on this broker. The parent website and lot of other forex sites mentions that it is regulated by New Zealand. Surprise, this is far from truth. Here is my communication with Financial Markets Authority who clearly state they have no knowledge about this company.
---------- Forwarded message ----------
From: Questions Comments Scams Complaints <questions@fma.govt.nz>
Date: Sun, Sep 28, 2014 at 11:48 PM
Subject: RE: Response from FMA:
To: Bharat
Dear Bharat
This company has never been licensed, authorised or regulated by FMA.
Regards
Stacey
From: Bharat
Sent: Sunday, 28 September 2014 8:34 p.m.
To: Questions Comments Scams Complaints
Subject: RE: Response from FMA
Dear Stacey,
I have received further legal information about this company. Would you pls be able to check this on your records and let me know if this is a legitimate organization. Thank you in advance for your cooperation.
Rgds,
Bharat
On Sep 23, 2014 10:44 AM, "Bharat" wrote:
Hi Stacey,
Thank you very much for the quick response. I do appreciate it.
As I understand this organisation is not registeted with you hence best to avoid any investments with them. It is interesting how the site uses New Zealand as regulation but does not do any registration with FSPR.
Rgds,
Bharat
On Sep 23, 2014 8:17 AM, "Questions Comments Scams Complaints" <questions@fma.govt.nz> wrote:
Dear Bharat
Clear Streem Ltd is not registered on the Financial Service Providers Register (FSPR). The Financial Service Providers (Registration and Disputes Resolution) Act 2008 requires a company that is carrying on the business of providing financial services in New Zealand to be registered and the company name to be listed on the FSPR. The FSPR was set up to allow the public to check if FSPs are registered; obtain their business address; find out about the types of financial services FSPs are registered to provide and if they belong to a dispute resolution scheme.
Clear Streem has also never been licensed, authorised or regulated by FMA.
Kind regards
Stacey
From: Bharat
Sent: Tuesday, 23 September 2014 3:12 p.m.
To: Questions Comments Scams Complaints
Subject: Re: Response from FMA
Dear Stacey,
Thank you very much for your response. I do appreciate it. On further investigation I have found the company is based in New Zealand with the registered name of "Clear Streem Ltd". Would you please check if this name is listed with you.
Below is what I have found on their website :
------------------------------------
FOREX TRADING IS RISKY; READ OUR RISK DISCLOSURE BEFORE OPENING AN ACCOUNT
Trading is allowed to trader who had 18 years old only and subjected to due diligence of trader's documents and KYC checks
"This Site is Owned and operated by Clear Streem Ltd, New Zealand"
© 2014 CFD1000 Corporation. All rights reserved. "CFD1000", "" and CFD1000's "fx" family of trademarks are owned by CFD1000 Corporation. All other trademarks appearing on this Website are the property of their respective owners.
-----------------------------------------------
Thanks again for your kind cooperation.
Regards,
Bharat
On Mon, Sep 22, 2014 at 1:56 AM, Questions Comments Scams Complaints <questions@fma.govt.nz> wrote:
Dear Sir/Madam
This company has never been licensed, authorised or regulated by FMA.
There are no directors or operations within New Zealand.
FMA is unable to assist you further in this matter.
Regards
Stacey
From: Bharat
Sent: Sunday, 21 September 2014 8:15 p.m.
To: Questions Comments Scams Complaints
Subject: FMA - Make a report or complaint: CFD 1000
Hello,
You are receiving this email because someone has used the complaints form on the Financial Markets Authority website.
Who is the report or complaint about?
CFD 1000
What would you like to tell us? Please give us as much detail as you can:
CFD 1000 I have received several calls from this organisation who have regulation from New Zealand. The agent sounds a decent person however I could not establish much credibility of this organisation. I have invested small amount and I have been asked to invest several thousand dollars more. Can you please tell me if this is a legitimate business operation. I thank you very much for your assistance with matter.
Customer Service
T 0800 434 567
E questions@fma.govt.nz
Level 5, Ernst & Young Building
2 Takutai Square, Britomart, Auckland, 1010
PO Box 106 672, Auckland 1143, New Zealand
Follow us on Twitter: @fmamedia
Home » Financial Markets Authority
----------
I will continue to provide further advisory on this broker. The parent website and lot of other forex sites mentions that it is regulated by New Zealand. Surprise, this is far from truth. Here is my communication with Financial Markets Authority who clearly state they have no knowledge about this company.
---------- Forwarded message ----------
From: Questions Comments Scams Complaints <questions@fma.govt.nz>
Date: Sun, Sep 28, 2014 at 11:48 PM
Subject: RE: Response from FMA:
To: Bharat
Dear Bharat
This company has never been licensed, authorised or regulated by FMA.
Regards
Stacey
From: Bharat
Sent: Sunday, 28 September 2014 8:34 p.m.
To: Questions Comments Scams Complaints
Subject: RE: Response from FMA
Dear Stacey,
I have received further legal information about this company. Would you pls be able to check this on your records and let me know if this is a legitimate organization. Thank you in advance for your cooperation.
Rgds,
Bharat
On Sep 23, 2014 10:44 AM, "Bharat" wrote:
Hi Stacey,
Thank you very much for the quick response. I do appreciate it.
As I understand this organisation is not registeted with you hence best to avoid any investments with them. It is interesting how the site uses New Zealand as regulation but does not do any registration with FSPR.
Rgds,
Bharat
On Sep 23, 2014 8:17 AM, "Questions Comments Scams Complaints" <questions@fma.govt.nz> wrote:
Dear Bharat
Clear Streem Ltd is not registered on the Financial Service Providers Register (FSPR). The Financial Service Providers (Registration and Disputes Resolution) Act 2008 requires a company that is carrying on the business of providing financial services in New Zealand to be registered and the company name to be listed on the FSPR. The FSPR was set up to allow the public to check if FSPs are registered; obtain their business address; find out about the types of financial services FSPs are registered to provide and if they belong to a dispute resolution scheme.
Clear Streem has also never been licensed, authorised or regulated by FMA.
Kind regards
Stacey
From: Bharat
Sent: Tuesday, 23 September 2014 3:12 p.m.
To: Questions Comments Scams Complaints
Subject: Re: Response from FMA
Dear Stacey,
Thank you very much for your response. I do appreciate it. On further investigation I have found the company is based in New Zealand with the registered name of "Clear Streem Ltd". Would you please check if this name is listed with you.
Below is what I have found on their website :
------------------------------------
FOREX TRADING IS RISKY; READ OUR RISK DISCLOSURE BEFORE OPENING AN ACCOUNT
Trading is allowed to trader who had 18 years old only and subjected to due diligence of trader's documents and KYC checks
"This Site is Owned and operated by Clear Streem Ltd, New Zealand"
© 2014 CFD1000 Corporation. All rights reserved. "CFD1000", "" and CFD1000's "fx" family of trademarks are owned by CFD1000 Corporation. All other trademarks appearing on this Website are the property of their respective owners.
-----------------------------------------------
Thanks again for your kind cooperation.
Regards,
Bharat
On Mon, Sep 22, 2014 at 1:56 AM, Questions Comments Scams Complaints <questions@fma.govt.nz> wrote:
Dear Sir/Madam
This company has never been licensed, authorised or regulated by FMA.
There are no directors or operations within New Zealand.
FMA is unable to assist you further in this matter.
Regards
Stacey
From: Bharat
Sent: Sunday, 21 September 2014 8:15 p.m.
To: Questions Comments Scams Complaints
Subject: FMA - Make a report or complaint: CFD 1000
Hello,
You are receiving this email because someone has used the complaints form on the Financial Markets Authority website.
Who is the report or complaint about?
CFD 1000
What would you like to tell us? Please give us as much detail as you can:
CFD 1000 I have received several calls from this organisation who have regulation from New Zealand. The agent sounds a decent person however I could not establish much credibility of this organisation. I have invested small amount and I have been asked to invest several thousand dollars more. Can you please tell me if this is a legitimate business operation. I thank you very much for your assistance with matter.
Customer Service
T 0800 434 567
E questions@fma.govt.nz
Level 5, Ernst & Young Building
2 Takutai Square, Britomart, Auckland, 1010
PO Box 106 672, Auckland 1143, New Zealand
Follow us on Twitter: @fmamedia
Home » Financial Markets Authority
----------
CFD1000.com has been flagged as a SCAM BROKER. Below reason stated in the page "They stopped work without any notice and they claim that they work on upgrading work"
zvezdageek.com/2015/07/02/forex-brokers-scams-list/#sthash.1z422U2B.KPhBYqhe.dpbs
zvezdageek.com/2015/07/02/forex-brokers-scams-list/#sthash.1z422U2B.KPhBYqhe.dpbs
Last edited by a moderator:
I am shocked to read this kind of reviews, Im trading with CFD1000 for almost a year now and never had any issue with my account or with my withdrawls.
I read all your comments and Im sure you are not stating something. their policy is very clear and I been withdrawing my earnings (not regarding to bunos) for a while now. I deposited $5000 and over the year I made profits of 60-70% from my initial invesmtnets, of course I had some losts too but overall its a very good company and I enjoy trading with them.
I read all your comments and Im sure you are not stating something. their policy is very clear and I been withdrawing my earnings (not regarding to bunos) for a while now. I deposited $5000 and over the year I made profits of 60-70% from my initial invesmtnets, of course I had some losts too but overall its a very good company and I enjoy trading with them.
