CMSTrader.com Review

1.697 • 44 REVIEWS
Safe Side Trading Ltd
Updated: Aug 15, 2022
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CMSTrader is a forex broker. CMS Trader offers the MT5 and Web trader forex trading top platform. CMSTrader.com offers over 35 forex currency pairs, indices, oil, commodities, cfds, gold, bitcoin and stocks for your personal investment and trading options.
May 2018:  There is an FPA Traders Court Guilty vote against this company.  The FPA recommends a very high level of caution dealing with CMSTrader until this issue is resolved.
August 2016:  The UK FCA has issued an Unauthorized Firm warning against CMSTrader.com.  CLICK HERE to verify.
February 2016: The Ontario Securities Commission has issued a warning against CMSTrader.  CLICK HERE to verify. 
January 2016:  Pandorx Ventures Ltd, formerly CMS Ventures Limited (NZ Registration number 5472141) was removed from the New Zealand Companies Register. CLICK HERE to verify.
Related sites include 12Trader.com
1.697 • 44 REVIEWS
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Traders Reviews

A
Oslo, Norway,
Apr 17, 2018,
Registered user

CMSTrader are Scammers

I received call based on facebook adds on bitcoin and cryptocurrencies, which I clicked in curiosity.One sales guy called me name mohammmad and introduced to me to Joseph Davis mobile +447440903321 as account manager for CMSTrader and he made me to start with $250 and showed me profit for next few days like $200 profit.Later I topped up to $1000 which he made it to $1600.
Than whe throws up ponzy scheme which I could not guess at that moment in greed and Bitcoin market liquidity I slipped.He said for every $10000 investment I can get $2000 every month from 3 month.I fall into trap and invested $12k and never got money back.
I also broke trust of my friends and get them also trapped 5 of my friends to become introductory broker which is nothing like that in this SCAM company and you get nothing ever.
Any help legally is appreciated , we contacted all these guys but no response:
Joseph Davis <joseph.d@cmstrader.com>,
Compliance CMSTrader <Compliance@cmstrader.com>,
support@cmstrader.com,
Alex shepherd <alex.s@cmstrader.com>,
gareth.w@cmstrader.com,
Dealing@cmstrader.com,
marketing@cmstrader.com,
Sales@cmstrader.com,
affiliates@cmstrader.com,
celena.r@cmstrader.com

They run from UK virtual office and have virtual UK numbers they are sitting in some unknown country and cities to trap innocent people and no financial authorities blocking them.
VISA must take action against them and not allow them as merchant I hope they soon block them also godaddy must block its website operation.
D
Derrick Ng
, Singapore,
Jun 30, 2016,
Guest

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.
C
Uk, United Kingdom,
Jan 30, 2020,
Registered user

Cms traders are fraudsters

Service use: Live Length of use: 6-12 Months
I was stupid enough to invest in this company via a friend and initially it all looked great and my account grew to well over 1m dollars from 100k! Chris Miller and Alex our little Isreali heros of Safeside trading claiming they are forex brokers in Cyprus when really they are somewhere in eastern europe hiding behind very convincing demo screens and taking all your money. They prey on stupid greedy people so if you dont heed this warning then you too will be parting company from your savings. I feel sick and utterly confused as to what to do and dont wish this on my enemies. 12 Traders, CMS traders,Safeside trading are all crooks with funny accents!!
2 traders have found this review helpful
2
Singapore, Singapore,
Feb 11, 2018,
Registered user

Scammed by CMS Trader

On 29th June 2016, when CMS Trader opened many big unauthorized trades with no stop loss level and eventually wiped out my account. The way that these trades were being carried out was nothing less than fraudulent and intentional underhanded method to generate losses.

On 29th June 2016, CMS Trader kept executing fraudulent unauthorized trades one after another one until the account is wiped out, when I saw these fraudulent unauthorized trades on my mobile phone application I immediately closed it in order to limit the losses. But CMS Trader abused their power and kept on executing additional unauthorized trades, a total of 23 fraudulent trades were executed by CMS Trader on that day till the account is wiped out.

The most obvious was the trade shown in the subsequent figure. The trade on Sell 90,000 units of XAGUSD (Silver), position size of more than US$1.5 million where the opening and closing of the trade in the same second (Opened and Closed on 29/06/2016 14:57:23), on this trade, the loss is US$108,000 and finally wiped out the account.

My account was totally wiped off by CMS Trader within 2 hours on 29 June 2016.

Dec 25, 2017 - 1 Star CMS Trader is a scam broker.
• CMS Trader is a scam broker, under the warning list of the FCA (Financial Conduct Authority) website,
• CMS Trader is not regulated, but they claimed they are regulated.
• CMS was using faked address, etc. In fact, almost everything in CMS Trader are faked, they faked their identity, name, etc.
• Executed untheorized trades without my consent or approval
• CMS Trader performed fraudulent trades that totally wiped out my account on a single day on 29 June 2016, within 2 hours.
B
Cheshire, United Kingdom,
Mar 18, 2019,
Registered user

CMS Trader warning

Please do not invest any money with CMS Trader do not belive a word they say Chris Miller and Alex Cooper they will try to get more money from you and when you try to withdraw funds it is impossible. they owe me $8660,00 from profits from my trades but they say i am unable claim this back .
Be warned
Anthony Crute
B
Bhavesh
London, United Kingdom,
Apr 5, 2018,
Guest

CMS trader - fraud

Prepare to lose all your money if you are using CMS trader.

I am UK based trader who started trading with CMStrader as a fresh trader who don't have experience and worse part is that person from Investing website rang me to suggest their name when i was searching for reliable broker. CMS trader initially introduce myself as FCA approved UK broker. (1st lie which i found out after 6 months)
In 4-5 months, i have invested 25K. Again, i was given trade who are on losing side and been advice to add more so that trade can sustain and CMS trader added credit on each top up i perform. saying that i have told them not to give me credit because i read that once company give you bonus they will tie you with them and will not allow withdrawal. Stephan Hill (my account manager said that it is credit not bonus so you will not have this issue). Sadly, i trusted his word and not get this in written email.

Things were going ok up until, i have substantial amount of profit in account and want to take some money out and guess what i found their true colour. They said that i can't withdraw any money because i have been given credit and money i have made is due to credit money which was given. After reminding them about what Stephan said initially, they agree that i can withdraw money after 6 month if i will perform 10 trade a month. i did that for 6 months. After time period, i have again asked to withdraw and i got same story of credit and now they are saying that all of the money is companies and will not allow to withdraw money. Current profit in account is 105K.

After above incident, i have used Google and here are finding,
CMS trader is not FCA approved and got few flags in UK.
CMS trader are register as safe trading ltd in UK (as per thier website- Privacy Statement|privacy|protect Client’s)
I have searched them in companies house SAFE SIDE CONSULTING LTD - Filing history (free information from Companies House)
As per above they are dormant (inactive) company from 2016 till now, however, they have been showing on their website that they are doing trade of millions every day. so this is potential fraud with UK government.

I have lost 25K and lot of time with them. I will take legal action with them but I thought this will help other people.

Please beware with them and use only approved broken not fraud broker.
Please share it everywhere so that this will benefit everyone.


Aug 10, 2017 - 4 Stars very good company, good education before any advice on opening position, make money if you make money
G
Gregor
Zivko, Slovenia,
Jul 4, 2018,
Guest

SCAMMER!!!

Let me tell you my experience with CMS Trader:
Some months ago i opened an account on investing.com, the next day a guy named Rudy called me from CMS trader and said that i should open an account with them to trade with them. He was on phone very convincing and said ve would make some good money, explained all and bla bla. the next few days later I deposited 1.000,00 EUR a day or two too early bcs I found your web site and CMS Trader was listed as possible scam read all the comments - very BAD! The next days i wanted to withdraw my money and send all necessary e-mails , but the line was dead... no answer absolute nothing the only thing I got was a E-mail that the request is being processed. I did not send them all necessary documents to verify the account only the withdrawal request. Need some help. CMS TRADER IS A SCAMMER!!
Y
United Arab Emirates,
Mar 21, 2018,
Registered user

CMS Trader is a SCAM. Do not trust them by all means

Matt Thompson (Commodities and Currencies advisor) did call me (on September 8, 2017) after signing up for www.investing.com. He did convince me to create an account and deposit money, what I did. I did deposit $500 and then $1000. Once I reached $1,500, I've been contacted by Joseph Davis (Commodities and Currencies advisor) on September 14, 2017. He has been the one dealing with me up to now.
He convinced to top up my account based on the results, what I did gradually once I was getting positive results from the trading. My last deposit was on December 10, 2017 making it a total of $ 34,500.
Joseph Davis did trade on my behalf and my account did reach $63,000.
Since last February, I'm facing financial difficulties and wanted therefore to withdraw $20,000 from account. I sent "Withdrawal Request" to Compliance (compliance@cmstrader.com) in order to do so on February 11th and 14th. I did not hear from them for a while and I asked Joseph Davis what is going on? Why I wouldn't receive a DOD (Declaration of Deposit) from Compliance Dept.? I sent emails to support@cmstrader.com, celena Ryan (celena.r@cmstrader.com) and still nothing. I finally got a DOD from Alex Shepherd on February 21st, I wrote $20,000, signed it and returned it back to him the same day.
Afterwards, no more sign from Compliance Dept. and no money was transfer to my credit card.
V
Australia,
Jul 17, 2017,
Registered user

CMSTrader.com is a scam company
They got my telephone number from some investing web page. I have been called by mother figure Linda Ferguson, older lady, softly spoken, sound to be very honest, she promised old class service and NOT to demand more money than my first deposit. She did call me for about 3weeks few times a day. After I did open account with them $400 Chris Miller call me we open position and I did win all the time call( few times a day) his message always like this: how much more money you can make, if you deposit more money. I did first $5000 and than up to $10000 I have got some wrong advice my account went to $1000 Chris MIller all time demand more money, he did so by stick and carrot method. He ask me where I live, check my house location by Google Maps, suck lots information about myself and my family what I am doing for living and so on. He show me screen shoots of account of Benjamin Broun, which seems to be manger or something at CMS, Balance of that account is about 2 mln dollars. Everything to show how they are good and honest. Every freshman like my self is lost in forex, when my account went wrong way he MIller, stop replay on my email, like what to do hedge or close position and so on. Account from 10000 went down to 1000 than he (Miller) called me and deposit another $10000 at least and I will help to recover your losses. They bad, mercy less, hart less people they lie, they said one thing and doing another
M
South Africa,
Dec 11, 2017,
Registered user

CMStrader is a SCAM!!!!

I received a call from cmstrader after i registered with investopedia. i got a great marketing deal from Phil Zeman selling me how great cmstrader is and what kind of service i would receive. fast forwdard a few days later of hard selling and countless calls and i decided to trade with them. however as soon as i made that $500 deposit everything changed. i stopped receiving calls or any communication, i could not get a hold of them or any replies to my email, their live chat rarely has anyone online to assist you. i tried making a withdrawal but havent received any feedback as to what is happening. i have sent emails stating i would like to close my account and get my money but still no response. this cmstrader is a scam and everyone should stay away from them.
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