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CMSTrader.com Review Visit site

Updated: Oct 8, 2018
1.582 · 41 REVIEWS
Is this your company?
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

CMSTrader is a forex broker. CMS Trader offers the Sirix web trader and Mobile trader forex trading platform. CMSTrader.com offers over 60 forex currency pairs, indices, oil, commodities, cfds, gold and stocks for your personal investment and trading options.

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Case IDFiledCase nameVerdict
2018-0772018-04-23Tau1984 vs cmstrader.comguilty

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1.582 · 41 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

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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.
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.
cmstrader_scamvictim,
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.
varunglt,
SAHARANUR, India,
Dec 1, 2016,
Registered user

CMS TRADER IS FRAUD THEY DEDUCT BALANCE FROM MY ACCOUNT FROM 1 MONTH BUT THEY DID NOT SEND MONEY

HI,
CMS TRADER IS A SCAM BROKER

I open an account with cms trader account number=514762 on 26-09-16 and i deposited 500 USD and in between i make trades and when i saw the bad reviews at FPA about CMSTRADER I decide to withdrawal i make a withdrawal request on 26/10/2016
I try many times to contact them but the always told me we will transfer you query to finance after 1 week the balance is deducted from my account of 470 USD but after 1 week i did not get the balance in my card i contact bank they told me that they did not send the fund yet in my card i again contact them but they always told me that we send the fund but i did not receive the fund this is and now cmstrader they hang-up my call when i told him my name or account ID 514762 I request you to FPA to contact them about this case
Morten lund,
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
avatarde,
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.
Shane Sheikh,
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
seyiosho,
Sweden,
Jun 22, 2017,
Registered user

I found CMS TRADERS very professional, helpful, honest and reliable. They have helped me achieve results beyond my initial expectations. They listen and respond quickly. Their trading system is excellent and the people are good.

Compared, to the not so good experience I had with some notable forex brokers, CMS TRADERS stand out as the best.
They provide useful insights and information from time to time and this guide me to make good trading decisions which result in profit.

With some other popular/notable brokers, you are just like a number and no one to attend to issues promptly. At CMS, you get attention , which helps a lot.

CMS Traders makes you feel like you are in a strategic partnership for mutual benefits and this count a lot towards success. It doesnt feeel good to just be a number in any organisation. It si my opinion that CMS TRADERS are committed to the success of their customers/clients!!

I will recommend them without any reservations so far.
I wish they will keep up the good work.
I have no doubt that with their excellent service, they are growing fast

On the whole, they are truly professionals
Bravo

Stickyicky50,
United Kingdom,
Jun 27, 2017,
Registered user

A Regulated & Unique Broker

First, before I go on about the benefits and why CMS Trader is a great choice let's get the conspiracy of Forex Brokers being scams out the way. If you are on this site looking for reviews and come across scam reviews don't pay it any mind.

Forex is a legitimate source of income for many individuals in the world and it is a very profitable one as well. Though, a lot of new traders see it as an easy get rich quick scheme which it is not. When you decide to invest money into a Broker it is your job as the retail trader to educate yourself. Learn trading strategies, learn trading psychology, learn about timezone, currency pairs and etc. If you are not going at of your way to become knowledgeable and truly aware of what the Forex market can offer or perhaps take away then you shouldn't of even bothered.

Forex trading and trading in general is science that is logical and takes time/ commitment to become adept at. Regardless of the broker you choose you will always have the same results if you aren't willing to devote yourself.

Now with that out the way; CMS Trader in my opinion deserves 5 stars. For one they are a *REGULATED* broker. It is very important when you decide to invest into a broker that they are regulated by an external entity such as CySEC (mainly CySEC). This is because, there is a possible that you can be scammed by an unregulated broker; I know what I'm saying now reads oppisite to the disclamer above however everything above is referring to regulated brokers, if the broker is unregulated then you are risking your money. Though that is not the case with CMS Trader, despite being marked as risky or unregulated according to the FCA, CMS Trader is actually under going regulation procedures by making a contract with CySEC which means for all intents and purposes CMS Trader is a regulated broker.

Usually, when you find a regulated broker that is all you really need however CMS Trader does go the extra mile. From my experience, I had entered CMS trader at the base of $500 which means that I simply was given the minimum perks. Though, I found when I was in need my personal broker had helped me through a situation where I needed to withdraw funds quickly and because I explained my situation she decided to rush a withdraw for me. Which in CMS trader is not an offered perk unless you invest over $5000 I believe.

This shows that they are a flexible broker willing to cater to the needs of the individual rather then treating their traders as one big mass. Which means, beginners to Forex who need help will probably receive different benefits to perhaps a veteran trader. Apart from that however, there is also the Sirix Station; which is the trading platform. I like how simple Sirix Station is however I do not believe it was intended for those who like to use deep technical analysis as they do not support add-ons such as Meta Trader platforms.

Overall, a great broker and would especially advise that you join this broker if you are a beginner to Forex.
BakuMane,
Ireland,
Jul 5, 2017,
Registered user

As you can find in a lot of threads, they are a scam broker.
Took my money, saying a lot of good things and then in the end when I really needed the money due to personal issues they went silent.
I have called them and emailed them, was told I would get the money back but still nothing.
It's been over 2 weeks now, were withdraw should take 3-5 days, and I'm slowly losing hope.
Chargeback is my only hope at this point!