CMS Trader, beware of this company.

264501

Private, 1st Class
Messages
44
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.
 

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264501

Private, 1st Class
Messages
44
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.
How, when, and how much did you deposit?

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
 

264501

Private, 1st Class
Messages
44
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
 

Pharaoh

Colonel
Messages
20,046
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.
 

264501

Private, 1st Class
Messages
44
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.
Thank Pharaoh
 

264501

Private, 1st Class
Messages
44
Thank Pharaoh

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.

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/
 
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