CMS Trader blocked my account awaiting withdrawal

Mr Dassen

Recruit
Messages
2
I am just opening this thread because I am very scared of losing my money.
I made a bank wire of 100.000 Euro to CMS Trader.
I took a loan for this, since I do not have this. But Steven Black or Steven Baxter (at 12trader) told me we need a minimum to trade stock and get me going to a good level. I should withdraw next month and we could continue with the profits.

However Steve has made a mistake on a big Forex postion and now the equity is have.
I do not have a backup for this money and last week I lost my job. I need this money for a down payment on the house. The loss is pretty bad, but losing all would kill me.
I want to close all positions and close the account, but they blocked my account from trading.
Steve approved the withdrawal and says we can do this with the position fully hedged.

There is 64000 Dollar of equity on the account, and I am not trading and asked Steve not to trade anymore.
He says he is taking damage for this because he wants to continue to make up the losses, but I cannot afford to not have this money back this month.

I really liked Steve in the beginning helping me make the account bigger. But this mistake I cannot take, so I need to get out now with a loss, not making it bigger.

Can somebody tell me if this is normal to have trouble closing an account and asking for a withdrawal?
Is there something I can do to make sure?
 

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264501

Private, 1st Class
Messages
44
I am just opening this thread because I am very scared of losing my money.
I made a bank wire of 100.000 Euro to CMS Trader.
I took a loan for this, since I do not have this. But Steven Black or Steven Baxter (at 12trader) told me we need a minimum to trade stock and get me going to a good level. I should withdraw next month and we could continue with the profits.

However Steve has made a mistake on a big Forex postion and now the equity is have.
I do not have a backup for this money and last week I lost my job. I need this money for a down payment on the house. The loss is pretty bad, but losing all would kill me.
I want to close all positions and close the account, but they blocked my account from trading.
Steve approved the withdrawal and says we can do this with the position fully hedged.

There is 64000 Dollar of equity on the account, and I am not trading and asked Steve not to trade anymore.
He says he is taking damage for this because he wants to continue to make up the losses, but I cannot afford to not have this money back this month.

I really liked Steve in the beginning helping me make the account bigger. But this mistake I cannot take, so I need to get out now with a loss, not making it bigger.

Can somebody tell me if this is normal to have trouble closing an account and asking for a withdrawal?
Is there something I can do to make sure?


For a regulated broker, there is no problem of closing an account or make a withdrawal or get back all your money. But CMS Trader is a scammer, they are not regulated, very likely you will never get your money back, I was scammed by CMS Trader, I know what they are doing. By the way, all their identities (names, e.g., Steven Black or Steven Baxter ) are fake, everything are faked. They keep changing their name.
 

Mr Dassen

Recruit
Messages
2
Indeed they refuse to withdraw the money. I have asked this now about 30-40 times and they simply refuse.
Only if I deposit another 20K Euro they can get me out of this situation I got myself in, Steven Baxter Black can save me.

This is a scam. I will open a new thread with all the details of their scam.
This is a scam no doubt, and every euro or dollar deposited will never get back to you.
 

kenorb

Private, 1st Class
Messages
34
You've been scammed into believing that you're trading real money. Your money is long gone, they're playing with you on the demo. The final phase of the scam is to blow your account, even if you don't agree, they'll force this on you. Start collecting the evidence and record any further conversations.
 

kenorb

Private, 1st Class
Messages
34
If they fraud you, you can try to contact the bank for a chargeback, but it's not easy. You'll prove that they didn't deliver the service which you've ordered. Otherwise look for a law firm specializing in Forex & Binary Options litigation (but don't get into another scam). Don't tell them that, don't tell them anything.
 

264501

Private, 1st Class
Messages
44
Indeed they refuse to withdraw the money. I have asked this now about 30-40 times and they simply refuse.
Only if I deposit another 20K Euro they can get me out of this situation I got myself in, Steven Baxter Black can save me.

This is a scam. I will open a new thread with all the details of their scam.
This is a scam no doubt, and every euro or dollar deposited will never get back to you.
If you deposit another 20K, you will loss the 20K again. Don't ever trust them, they are real scammer.
 

264501

Private, 1st Class
Messages
44
If they fraud you, you can try to contact the bank for a chargeback, but it's not easy. You'll prove that they didn't deliver the service which you've ordered. Otherwise look for a law firm specializing in Forex & Binary Options litigation (but don't get into another scam). Don't tell them that, don't tell them anything.
Charge back is not easy, may or may not success. Getting law firm will cost more money and time, and no guarantee of success also. Both have low success rate and need to come out with more money (cost).
 

264501

Private, 1st Class
Messages
44
You've been scammed into believing that you're trading real money. Your money is long gone, they're playing with you on the demo. The final phase of the scam is to blow your account, even if you don't agree, they'll force this on you. Start collecting the evidence and record any further conversations.
That is true.
 

kenorb

Private, 1st Class
Messages
34
If they ask you to cancel or postpone your withdrawal request, never agree on that, as it's their trick and evidence to blame you. Give them the strict deadline of 2-5 working days. They'll use all possible deceptive techniques to either get more money from you or to cancel the withdrawal and blow your account. They've nothing to do with trading, they have a laugh by telling you lies that they're on the trading floor, don't trust any word they say.
 

264501

Private, 1st Class
Messages
44
Indeed they refuse to withdraw the money. I have asked this now about 30-40 times and they simply refuse.
Only if I deposit another 20K Euro they can get me out of this situation I got myself in, Steven Baxter Black can save me.

This is a scam. I will open a new thread with all the details of their scam.
This is a scam no doubt, and every euro or dollar deposited will never get back to you.
Any good outcome?
 
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