SCAM ALERT - CMSTRADER.COM : THIS COMPANY WILL ROB YOUR MONEY

Messages
11
If something is too good to be true, it probably is.

I should have been wiser, not to believe in that 20% monthly return on investment that Cameel Swan (may not be his real name) the so-called account manager at CMS Trader who had convinced me to part with my hard-earned money, my life-saving, the money meant to send my kids to university, to invest in their bogus forex trading company (website cmstrader.com). In the end, with 3 unauthorised trades, within 45 minutes from opening and closing unauthorised transactions in my account, he had wiped out my principle as well profits worth US$ 300,000 made during the 60 days trading with CMS Trader.

My friend, who introduced me to this company also suffered the same fate. He lost all his investment as well as profits earned from 6 months trading with them.

I first started with US$25,000 in mid April-2016 as advised by Cameel Swan. Trading was profitable initially and 1 week later he started to promote scheme like VIP Group and valuable signals each day to gain high profit and winning percentage (about 18% each month) as well strategy to maintain and grow our fund. I made few more deposits around end of April and early May-2016, making total investment of more than US$100K.

Trading with the additional funds was successful and further profits were made to almost US$ 200K, my total account balance at end of Jun 2016 was at more than US$ 300K.

But trouble started when I initiated withdrawal 1st week and 2nd week of Jun-2016. I supposed a US$ 10K withdrawal was justified since my account balance was more than enough to cover the amount I wanted to withdraw. But I met with many reluctance (excuses like he was looking into it, he was busy and had many clients to deal with before coming back to me, the type of withdrawal that can be made using debit card) before he informed that my debit card is being processed. The card never reached me anyway.

I grew suspicious of Cameel Swan’s delaying tactics and strictly instructed him via WhatsApp messages as well as email that no further trades to be carried in my account until my withdrawal is resolved / processed.

On 29 Jun 2016, Cameel Swan sent me a WhatsApp message that he had good signal and he wanted to take it. Despite my instruction not to trade, he still opened 2 huge trades which I subsequently closed with a loss of US$ 176K. I then messaged him that “I WILL NOT TRADE ANYMORE” , and he replied in text “I WILL NOT OPEN POSITIONS”.

Immediately after the phone call, a huge trade of 107,000 ounce for XAGUSD (silver) was being short for me. This caused my account margin level % dropped to below 20% and triggered a margin call. Within 15 minutes from opened and closed account, I suffered a loss of US$ 132K, leaving remaining balance of US$ 13K in my account inclusive of some open trades. In short, within 45 minutes, they had successfully almost wiped out all my money.

Afterward, my attempts to contact Cameel Swan had been in vain. He did not answer phone calls or messages. I sent email to Benjamin Broun the senior manager, so-called head of VIP departments and other departments such as compliance, finance, marketing, sales, to inform them of the fraudulent trades and demanded investigation and compensation to be made to my account. On 30 Jun 2016, Benjamin Broun emailed to inform me that the last trade that wiped out my account is being investigated and Cameel Swan was suspended from work.

It’s has been one week and I have not received any concrete evidence that investigation is indeed being carried out. Instead, in his email, Benjamin Broun tried to point finger at me, indirectly implied that it was me who agreed to open the last 3 trades. I take it that this is just another delaying tactic in their attempt to swallow my money.


At this moment of time, it appears plainly that CMS TRADER IS A SCAM.

On its website, CMS Trader advertised itself as the “experts” in forex trading company. The services they claimed to provide include investment advisory, portfolio management, credit facilities, banking services. In deed, CMS Trader is not licensed to carry out activities that its website cmstrader.com offers. This scam company kept changing its names and addresses to escape attention and perhaps ran away from all the frauds it left behind.

It was registered as “C M S VENTURES LIMITED” which was dissolved on 28 May 2013. It also took on the name of “CMS VENTURES LIMITED”, “PANDORX VENTURES LTD later on. To further ligitimate and shield its unregulated forex trading activities ans conned others to invest money in its trading, CMSTrader associated itself with IDT Financial Services Ltd (a regulated financial institution that issued CMS Tradercard). A card that is as good as nothing because if CMS Trader do not release your fund to your account, you will never be able to get any cent out of that Mastercard.

I urge all those that had deposited money into CMS Trader forex trading to be fully alert of its fraudulent activities. Test your broker by starting to request for withdrawal, stop putting any additional money into their account.

This is my most costly and painful lesson. I have put my trust in the hand of evils. Learn from my lesson and do not repeat my mistakes.

DON’T LEAVE YOUR MONEY IN THE HAND OF CMS TRADER – THE SCAMMER.

CMS TRADER = DAY-LIGHT ROBBER. STAY AWAY FROM THEM.
 
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FxMaster

Colonel
Messages
11,521
If something is too good to be true, it probably is.

I should have been wiser, not to believe in that 20% monthly return on investment that Cameel Swan (may not be his real name) the so-called account manager at CMS Trader who had convinced me to part with my hard-earned money, my life-saving, the money meant to send my kids to university, to invest in their bogus forex trading company (website cmstrader.com). In the end, with 3 unauthorised trades, within 45 minutes from opening and closing unauthorised transactions in my account, he had wiped out my principle as well profits worth US$ 300,000 made during the 60 days trading with CMS Trader.

My friend, who introduced me to this company also suffered the same fate. He lost all his investment as well as profits earned from 6 months trading with them.

I first started with US$25,000 in mid April-2016 as advised by Cameel Swan. Trading was profitable initially and 1 week later he started to promote scheme like VIP Group and valuable signals each day to gain high profit and winning percentage (about 18% each month) as well strategy to maintain and grow our fund. I made few more deposits around end of April and early May-2016, making total investment of more than US$100K.

Trading with the additional funds was successful and further profits were made to almost US$ 200K, my total account balance at end of Jun 2016 was at more than US$ 300K.

But trouble started when I initiated withdrawal 1st week and 2nd week of Jun-2016. I supposed a US$ 10K withdrawal was justified since my account balance was more than enough to cover the amount I wanted to withdraw. But I met with many reluctance (excuses like he was looking into it, he was busy and had many clients to deal with before coming back to me, the type of withdrawal that can be made using debit card) before he informed that my debit card is being processed. The card never reached me anyway.

I grew suspicious of Cameel Swan’s delaying tactics and strictly instructed him via WhatsApp messages as well as email that no further trades to be carried in my account until my withdrawal is resolved / processed.

On 29 Jun 2016, Cameel Swan sent me a WhatsApp message that he had good signal and he wanted to take it. Despite my instruction not to trade, he still opened 2 huge trades which I subsequently closed with a loss of US$ 176K. I then messaged him that “I WILL NOT TRADE ANYMORE” , and he replied in text “I WILL NOT OPEN POSITIONS”.

Immediately after the phone call, a huge trade of 107,000 ounce for XAGUSD (silver) was being short for me. This caused my account margin level % dropped to below 20% and triggered a margin call. Within 15 minutes from opened and closed account, I suffered a loss of US$ 132K, leaving remaining balance of US$ 13K in my account inclusive of some open trades. In short, within 45 minutes, they had successfully almost wiped out all my money.

Afterward, my attempts to contact Cameel Swan had been in vain. He did not answer phone calls or messages. I sent email to Benjamin Broun the senior manager, so-called head of VIP departments and other departments such as compliance, finance, marketing, sales, to inform them of the fraudulent trades and demanded investigation and compensation to be made to my account. On 30 Jun 2016, Benjamin Broun emailed to inform me that the last trade that wiped out my account is being investigated and Cameel Swan was suspended from work.

It’s has been one week and I have not received any concrete evidence that investigation is indeed being carried out. Instead, in his email, Benjamin Broun tried to point finger at me, indirectly implied that it was me who agreed to open the last 3 trades. I take it that this is just another delaying tactic in their attempt to swallow my money.


At this moment of time, it appears plainly that CMS TRADER IS A SCAM.

On its website, CMS Trader advertised itself as the “experts” in forex trading company. The services they claimed to provide include investment advisory, portfolio management, credit facilities, banking services. In deed, CMS Trader is not licensed to carry out activities that its website cmstrader.com offers. This scam company kept changing its names and addresses to escape attention and perhaps ran away from all the frauds it left behind.

It was registered as “C M S VENTURES LIMITED” which was dissolved on 28 May 2013. It also took on the name of “CMS VENTURES LIMITED”, “PANDORX VENTURES LTD later on. To further ligitimate and shield its unregulated forex trading activities ans conned others to invest money in its trading, CMSTrader associated itself with IDT Financial Services Ltd (a regulated financial institution that issued CMS Tradercard). A card that is as good as nothing because if CMS Trader do not release your fund to your account, you will never be able to get any cent out of that Mastercard.

I urge all those that had deposited money into CMS Trader forex trading to be fully alert of its fraudulent activities. Test your broker by starting to request for withdrawal, stop putting any additional money into their account.

This is my most costly and painful lesson. I have put my trust in the hand of evils. Learn from my lesson and do not repeat my mistakes.

DON’T LEAVE YOUR MONEY IN THE HAND OF CMS TRADER – THE SCAMMER.

CMS TRADER = DAY-LIGHT ROBBER. STAY AWAY FROM THEM.
Two steps that you must follow

1st - Invite them to join this thread via email (Send email to every possible address).

2nd - Go to their website and invite them to here via Live Chat
 

Pharaoh

Brigadier General
Messages
20,230
Did you send them a link to this thread and invite them to reply here yet?
 
Messages
11
Sorry I have been out of action lately following up on my chargeback dispute against CMS Trader. Would appreciate if any members who had won chargeback dispute against scam brokers to share on their experience. I believe there are also members who lost in their fights. Do the bank make it known to you the reason(s) why you lost ? Do you appeal again?
 
Messages
11
Beside reporting to the local police, I have also made reports to

1) UK Police Force / actionfraud.police.uk : reference no NFRC16070146934

2) Econsumer.gov: reference no 73915754

Is there any other agency(s) I should make report to?
 

Pharaoh

Brigadier General
Messages
20,230
Sorry I have been out of action lately following up on my chargeback dispute against CMS Trader. Would appreciate if any members who had won chargeback dispute against scam brokers to share on their experience. I believe there are also members who lost in their fights. Do the bank make it known to you the reason(s) why you lost ? Do you appeal again?

It varies wildly from bank to bank.

Here's a list of some of the threads where successful chargebacks have been reported.:

https://www.forexpeacearmy.com/community/tags/?t=chargeback
 

f-man

4Xangels Representative
Messages
744
Which is the Company Name that you have your account with?
It is very important to know.
Who was the beneficiary of the account, when you transferred the money in the first place?
 

f-man

4Xangels Representative
Messages
744
Did they make all the trades for you throughout the trading period?
 
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