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CMS Trader, beware of this company.

Discussion in 'Scam Alerts' started by 264501, Jul 1, 2016.

  1. 264501

    264501 Private, 1st Class

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    I have started this thread to warn others about this fraudulent broker, and to seek assistance in recovering my money.

    CMS Trader claims to be a investment advisory company that helps its clients to manage account and to help them trade on the Sirix platform. In the beginning I have invested an amount of US$5,000. I started putting in more money as they were producing good results, and Cameel Swan my accounts manager had placed much pressure on them to put in more money.

    I have invested in total of US$90,000. Now I have nothing.

    Trouble started when I send in withdrawal requests. They would delay making withdrawal, not heeding withdrawal requests and sending in less than what I requested. Also, they had open bad trades and I have lost my profits.

    As I had enough of them, I sent them an email stating that I wanted to close my account and take out all my money. I instructed them to cease all trading on my account. They promised payment but they came up with many excuses to delay withdrawal.

    On 29/06/2016, they opened more losing positions to wipeout my account. One of those trade was for silver, worth about US$1 million. This trade was opened on 29/06/2016 at 2:57:23PM and was closed immediately on 2:57:23PM. This resulted in a huge loss of US$108 thousand which wiped out my account and put me into negative

    I called Cameel Swan,and they blamed me for doing more social trades. I told them I did not do social trades anymore, I had uncopied every trader, I just wanted the rest of my money back. When I checked my account, somehow my account were copying more traders. From the trade logs I saw that there were some bad trades which were copied from other traders. But most of my losses came from trades which were not copied, which was the US$1 million silver trade.

    Currently I am unable to contact Cameel at all. But I emailed Benjamin Broun who was Cameel's boss, Benjamin said that they are currently investigating the matter. But it is plainly obvious that this company is a scam. I will advise everyone to not put in money into CMS Trader.

    Right now I just want to get back all my money and I regret being involved with this company.
     

    Attached Files:

  2. Pharaoh

    Pharaoh Colonel

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    How, when, and how much did you deposit?
     
  3. 264501

    264501 Private, 1st Class

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    How: I used my credit card to transfer the fund to my trading account.
    When: Refer to the table below for the date.
    How much: Refer to the table below, total US$90,000

    Date USD
    01-12-15 5,000
    16/12/2015 3,500
    30/12/2015 6,500
    30/12/2015 5,000
    04-02-16 10,000
    11-02-16 5,000
    23/3/2016 5,000
    20/4/2016 10,000
    03-05-16 10,000
    05-05-16 10,000
    26/5/2016 10,000
    31-05-16 10,000
    Total 90,000
     
  4. 264501

    264501 Private, 1st Class

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    I have filed complaints with regards to the fraudulent activities of CMS Trader (Pandorx Venture Ltd) to the below authorities:

    1. Singapore Police Force: Reference number J/20160630/2001

    2. Monetary Authority of Singapore, MAS: Submitted form

    3. Econsumer.gov: Reference number 74010394

    4. Action Fraud Police UK: Reference number NFRC160601467625

    5. US Commodity Futures Trading Commission (CFTC): Reference number 1607-0303-0944-12

    6. Financial Conduct Authority UK (FCA): Email feedback

    7. European Consumer Centres (ECC): Email feedback

    8. Israel Securities Authority (ISA): Submitted form, reference #: 2016-000001906

    http://www.isa.gov.il/sites/ISAEng/CONTACT/Pages/default.aspx

    9. Australia Competition and Consumer Association

    https://www.scamwatch.gov.au/report-a-scam/thank-you?entityform_id=96836

    Submission ID: accc-scamwatch-96836

    10. New Zealand Financial Markets Authority

    https://fma.govt.nz/contact/make-a-complaint/make-a-complaint-online/finished#uff
     
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  5. Pharaoh

    Pharaoh Colonel

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    Immediately call the fraud department at the issuing bank(s) for your card(s). Explain exactly what is going on. Ask about a chargeback based on deliberate fraud. If they bank's won't cooperate, consider professional assistance from a company such as WinChargeback.

    Don't delay. There are deadlines. Some of your deposits may already not qualify for chargebacks.
     
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  6. 264501

    264501 Private, 1st Class

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    Thank Pharaoh
     
  7. 264501

    264501 Private, 1st Class

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    Hi Pharaoh, I would like to proceed my case to Traders Court, please advise how could I submit my case to Trader Court?

    FPA Forums Team Note: The instructions and case filing link are on this page...

    http://www.forexpeacearmy.com/community/pages/traders-court/
     
  8. Pharaoh

    Pharaoh Colonel

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    Looks like someone beat me to posting the link. Go ahead and get a case filed.
     
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  9. 264501

    264501 Private, 1st Class

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    Hi Pharaoh, I have already get the filed, could you check is I did it correctly?
     
  10. oscarra

    oscarra 2nd Lieutenant

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