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CFD1000.com - Algo Trading

Discussion in 'Scam Alerts' started by Bharatt, Mar 31, 2015.

  1. Bharatt

    Bharatt Recruit

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    After several persuasive calls, Mrs. Rose Guion, Head of VIP Sales and Services - CFD1000, convinced me to invest in their Algo Trading solution (CFD1000 Algo Trading) which would give good returns. I was skeptical about investment because which I checked their website on scamadviser.com, the report said "Site is Russian Federation based and one needs to take caution when dealing with them as the indicator was inclined toward high risk. Also I was told that they were regulated by New Zealand however when I wrote to Financial Service Providers Register (FSPR), I was informed there is no such company registered with them.

    In-spite of these two warnings I decided to trust on them and invest $1,000 to test the platform. I was informed by Rose that the company is in process of seeking regulation and that it would take time and I must not worry about it being regulated or not. I must say for some time I did see some profits in the account and then almost every few weeks I would receive a call from them stating we are running promotion and that I must invest more funds as they can double it up with their bonus. I decided to invest further $3,000 in it. Hence total equity from me was $4,000 and the total bonus on this account was $1,300.

    During the initial few weeks the fund manager would take position and close it max in a day or two with profit or loss. However as the market started to become unfavorable the fund manager decided to allow the loss to continue and did not bother closing the loosing trade. Not only did he allow loosing trade to become even bigger loss but he continued to open new positions in the unfavorable direction. When I asked Rose Guion about this she told me don't worry about it, they are golden trades. Due to complete lack of money management and position sizing the losses continued to grow and eventually they caused a margin call to my account. When I asked them about why did they have to open so many positions in such a small account and why so big size positions, I was told the traders have done their best to manage the account. Surely by no means giving a margin call to client is in the profile of a fund manager.

    I am not guru in investing but as per my knowledge most of the fund managers do not allocate more than 2% of the account size for any given trade and it would send shiver down the spine if any single trade exposes risk more than 5% of the account size. For my account, the average risk of the loosing trade was 20% and the highest risk was at 34%. Also there was simply no control in the number of open positions at any given single point of time. Keeping six positions of 0.20 lot and then hedging it with a mighty 1.20 lot size was certainly not a professional decision.

    When I asked Rose Guion if the Fund manager have been right on their part of giving me a margin call, I was told they have done their best. Also when I asked how would CFD1000.com help me to recover the losses, I was told to invest more money with them and they will provide maximum bonus to me to help in recover the losses in next 12 - 24 months. Surely my confidence in them is at rock bottom.

    I am not interested in profits and would like to get my investment back. Would you have any suggestions on how I go about dealing with CFD1000.com to seek justice. Any suggestion / recommendation will be appreciated. Also this will serve as a warning to their potential as well as existing clients. I am happy to provide further details if this would be required.
     

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  2. Pharaoh

    Pharaoh Colonel

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    If they initially lied to you about being NZ regulated, you need to report this to the NZ regulators.
     
  3. FxMaster

    FxMaster Lt. Colonel

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    I tried to find the details about regulation on their websites but I couldn't find it. I also tried to chat with them regarding but unfortunately chat was offline :(
     
  4. Bharatt

    Bharatt Recruit

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    Dear Pharoh & FXMaster,

    Thank you for your feedback in this matter. Much appreciated.

    Further to this incident, I would like to state the fact that CFD1000 have provided me with a proposal wherein I should further invest $1,000 and they will provide bonus of $4,000 in the account. This account will be personally managed by their trader and will help to recover my total investment of $5,000 in future. I must admit Rose has been cooperative in this matter and trying to help in whatever way possible. I will surely provide a status update few weeks down the line about the progress of this account. Below is the proof of the account that is currently managed by their trader. Unfortunately it is already down by 20% in two days of trading activity.

    Regards,

    Bharatt


    CFD10005.
     
  5. Pharaoh

    Pharaoh Colonel

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    They'll make you 100 promises about recovering your funds and offer you however much bonus money it takes. All they really want is to get you to deposit more.

    Let them wipe out most of your new deposit and some very nice "super never-lose ultimate mega account manager" will offer to fix everything and give you a $50,000 bonus - if you only deposit more money.
     
  6. cfd1000scam

    cfd1000scam Recruit

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    dear bharatt
    you been scamed once why again
    look in to their terms and condition
    "Bonus policy: in order for the client to be able to withdrawal his profit in the case of receiving a bonus, he will need to answer a certain number of lots,
    The client will not be able to withdrawal his profit until certain amount of lots are done, only in the case the profit is tied with the bonus.
    this meens you will never see you money again !
    question to understand that they are a market maker ?
    you loose they win !
    how does any one let a market maiker run their investment ?

    a 100% advise stay away from cfd1000!!!!!
     
  7. Adn07

    Adn07 Recruit

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    salve , io sono un cliente di CFD1000 da quasi 1 anno e quando ho visto il tuo post mi sono incuriosito tanto perchè non ho mai trovato qualquno a parlare di questo broker, ti confesso che inizialmente ho lavorato con un conto normale e qualcosa ho guadagnato , dopo 4-5 mesi , si come dovevo partire in ferie mi hanno proposto di attivare il Robot Algo Trading , e ho deciso di accetare visto che il mio consulente mi diceva che era in grado di produre intorno ai 10% del capitale investito mensilmente, dopo un mese mi ritrovavo con due operazioni in perdita e ho deciso di chiudere io le operazioni , nonostante loro mi dicevano di stare tranquillo io ho chiuso e ho chiesto che venga disattivato il Robot.
    Attualmente lavoro con loro ma non so quanto sicuri siano i fondi , non so come verificare questo... se tu potesi aiutarmi in qualche modo se li conosci meglio ...
    ti ringrazio....
     
  8. Pharaoh

    Pharaoh Colonel

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    If you want to test how secure your funds are, close all open trades and attempt to withdraw everything.
     
  9. Adn07

    Adn07 Recruit

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    ti ringrazio Pharaoh appena chiudo le mie posizioni faccio una richiesta di prelievo di tutti i fondi , nel caso si rifiutassero di restituirmi il capitale come mi devo comportare ???? a chi mi devo rivolgere ???
    Inoltre vi vorrei chiedere se conoscete un broker serio affidabile per poter lavorare in sicurezza, ho visto tante recensioni su Markets.com e tanti parlano bene di loro sono veramente affidabili ??
    vi ringrazio..
     
  10. Pharaoh

    Pharaoh Colonel

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    First, try to get your money. While doing that, get screenshots of everything related to your account. Also, get screenshots of any regulatory and contact info from the broker's website.
     

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