CMSTrader.com Review

1.697 · 44 REVIEWS

Safe Side Trading Ltd

Updated: Jul 24, 2022 · Visit site  · Is this your company?

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.

CMSTrader.com
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

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 400:1
Minimum Deposit: $500
Established: 2013
Address: Suite 305, Griffith Corporate Centre Kingstown, Saint Vincent And Grenadines
Customer Service: Support@cmstrader.com, +44-2038687251
Regional offices:
Regulations:
Prohibited countries: Unknown
Trading platforms: MT5, WebTrader
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (35+)
Cryptocurrencies: (1) Bitcoin
CFD: (175+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (Bank Transfer), VISA, MasterCard, American Express
Withdrawal Methods: Bank Wire (Bank Transfer), VISA, MasterCard

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1.697 · 44 REVIEWS
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Traders Reviews

Singapore, Singapore,
Aug 23, 2016,
Registered user

CMSTrader.com is a scam broker

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.
 
Ghana,
Dec 20, 2017,
Registered user

CMSTRADER IS A SCAM COMPANY. ALL OF THEM ARE USING GHOST NAMES IN THE COMPANY AND ARE BUSY STEALING NUMBERS OFF INVESTING>COM TO SCAM PEOPLE.
http://www.forexpeacearmy.com/community/threads/scammed-by-cms-trader.53185/
 
South Africa,
Jul 30, 2018,
Registered user

PROFESSIONAL SCAMMERS

CMSTraders got my contact from investing.com and a guy named David Mill called me and told me that i opened an account with them, i argued with him but being a newbie that i was he convinced me to activated my account with $500 that they gonna make some money for me and i made the deposit.
The next day a guy named Stephen Black called me and said he is my account manager. he made a little profit with my capital and convinced me to make another deposit of $1500 to stand a better chance of making more profit and i made the deposit. he made a total profit of $1000 and yet requested for another deposit. that did not stand well with me i refuse to make more deposit, then he stop doing anything with my account.
3 months later i requested for a withdrawal but i had no feedback from them after 1 month i decided to contact Stephen Black using whatsapp but he became rude to me that am pushing him and that i should not disturb him when he is making money for other people, he stopped responding to my texts i tried contacting the company but their phone is dead, i emailed them several times but no feedback from them.
PEOPLE BEWARE OF THIS SCAM COMPANY!!!
 
Martins Kaufmanis,
Hannover, Germany,
Oct 24, 2015,
Guest

I opened an account and deposited 2500 euro. 3 weeks ago I decided to withdraw the money. I took Cameel Swaan (1 of the scammers) 2 weeks to approve the withdrawal. Now it's extra 1 week after the "release of the funds" to my account but no money.
Avoid these scammers at all costs.
In the files uploaded you can see the BS from the scammers part promising me to pay back the money. On the other document you can see a screenshot of my bank account reflecting how I deposited 2500 euros but never got back my money after promising to get it back.
 
Dubai, United Arab Emirates,
Nov 2, 2017,
Registered user

Am very happy with this signal service and will recommend it to more friends and relations that are trading the financial market

I got a call from Michael Taylor introducing himself as a trading analyst with CMSTRADER.COM. I have traded in the financial market for a while with little profits from my broker. Michael Advised me to start up with the minimum account of $500 for signals, education, advice and analysis. As I did not have enough money to begin, I asked if he could give me some signals pending when I will have $500 to begin with. And yes Michael did. The signals were almost 84% successful as he told me. The one thing I regret is that I didn't have the money to join but gathering enough money to Join CMSTRADER. From all the signals he sent me so far I have seen a high positive results. Thanks Michael for providing me with this opportunity.
 
Frank Julien,
Ottawa, Canada,
Apr 23, 2018,
Guest

Two weeks ago I came across Cmstrader from Investing.com. All i read about them was scam and people complaining about them. Michael Taylor gave me a call saying he was one of the signals analyst for the company. Yes i was also worried about the reviews i read here, but Michael assured me that not all what I read here was as it sounded. He bever guaranteed me profits, all what he promised was to send me signals and if i wasn't satisfied, I was free to take back my money. To add to this, he also made me understand that traders from Australia and Canada can only make a deposit through wire transfers as the Banks in our countries do not support online trading. At least he was honest about this.
I decided to give Michael a chance as i thought afterall I have lost thousands with regulated brokers, even here in Canada, why not risk a small amount to see what the future holds. I did send the wire transfer of $500 USD to Cmstrader for opening an account. I was glad I did, because the least amount of signals I got from Michael Taylor and cmstrader was 3 signals daily and with success rate of over 80% as he told me over the phone. I am not trading with them yet, but at least Michael proved to me that the reviews i read were not true. I will advise traders to give CMSTRADER a chance. With my WhatsApp chats with Michael Taylor I can say he is a good person.
 
Denmark,
Jun 20, 2017,
Registered user

Review by Morten Lund the 20. of June 2017, trading by CMS

For few month, ago my knowledges with trading and the financial marked were very limit.
I start to trade by myself and it cost more than 3.000 EUR in minus and it’s many money for me.
I had totally given up trading and was upset how I could loss so many money in a short period.
One day this change. Nadia Nicolas from CMS recovery team call me and now things start to change not only regards create profit. I have converted the minus close to a zero in a very little time and now it’s time for profit☺. Important the co-operation with Nadia have added value to many other things in live like:
• Positive attitude.
• Listen and learn from your mistake
• Have an overall focus in regards to money management
• Thinking outside the box
In regards to trading Nadia have very fast teach me about Money management, Emotions – control them and Investment= money + information. Technical instruments, fundamental, economic calendar etc. By using relative few tools like RSI, Bollinger Bands and economic calendar I can trade by me self with confidence in that I am doing good and with success.
Most important for success is my high personal relations, trust with Nadia from CMS. She is always there. if you are trading by yourself you always feel that CMS is supporting all the time.
Again, Nadia is an outstanding person which will the best for her traders. With this added value supporting both knowledges about the marked and trading plus important believe in yourself then potential is big by working together with CMS.
If you cover a few rules like money management, Risk, not be greedy and less is better than nothing then there is a big change success as a professional trader
Nadia have taught me to listen, can be difficult for a very out-trade person as I am☺.
Nadia is so dedicated in all what she does and I am very grateful that she will use some time on me which is a total beginner in trading at Cmstrader.com. I can only highly recommend CMS as a partner in this segment.
Last I am looking forwards to a long co-operation with Nadia from CMS and hopefully with a bigger profit that I only can dream about.
Thanks, Nadia that you call me and change my view on trading. It was never happened without you. More appreciated than you can imagine☺
What changed: Believe I can make it – make it happened

Kindly regards
Morten Lund
 
bahrain, Bahrain,
Jun 20, 2017,
Registered user

I have dealt with many FX brokers in the past but have experienced that CMS trader team has the best professional approach towards relationship handling. I have been trading with them for 2 years now and my account manager's approach has not changed towards me. They are always there when needed and gives utmost priority to the client. I will highly recommend CMS trader as a trading partner.
 
Dubai, United Arab Emirates,
Aug 17, 2017,
Registered user

CMSTRADER

once i got a call from MR. Michael Taylor , one of the signals analyst for cmstrader. He explained the kind of services they provide in terms of signals . I opened a small account of $2000 and got daily signals from Michael. He told me about the success rate of their signals of which i decided to try out . He kept to his promise and sent me daily trading signals , and it helped me a lot in my trading . Anytime i had problems and questions , i would ask him on WhatsApp, which he would readily reply to. I have worked with some companies but i must say that Michael Taylor is a very nice person who cares about his clients and keeping an eye on them . On the other side my account manager Stephan Hill was such a great account manager who kept teaching me about each and every type of the market moves even took care of my other account which was opened here locally without account manager and helped me a lot to get out of some bad positions i put my self in when i was trading without an account manager . I would really recommend CMSTRADER for new traders who want to learn and start making profits out of their money .
 
Auckland, New Zealand,
Jun 22, 2017,
Registered user

Professional Brokers

CMS trader team has the best professional approach towards relationship handling. I have been trading with them for few month now. My account manager / Senior Broker Nadia Nicholas has a very professional approach and skills to train and guide a new trader, very exceptional and very good. I will highly recommend CMS trader as a trading partner. I have made good progress with my account and have learnt good trading skills. I have heard horror stories with traders and most of them is on the withdrawal issue. I have tried a small withdrawal with CMS and i did get my money in the bank account