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cfscap.com Review

Updated: Jun 16, 2015
SCAM
2 REVIEWS
Is this your company?


This company is facing severe complaints from the NFA. The FPA has blacklisted this company and recommends against doing any business with them unless this can be resolved.

If you have an account with them, we urge you to discuss your options with the NFA.


This company is also known as CFS Investment Group

Website is down.  Company seems to be out of business.

cfscap.com

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
20092009-07-16FPA Scam Confirmation against CFSCapguilty

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2 REVIEWS
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Jill Holly,
Fort Collins,
Aug 30, 2010,
Guest

Actually this site is incorrect. RainMaker is not involved with any futures or forex business. CFS is gone. RainMaker only providing insurance products and precious metals at this time. Allen Elrod is the CEO of RainMaker, and although an Elrod, he is not Brian or Andrew.
Jim Parker,
Denver,
Feb 10, 2010,
Guest

NFA update - The chief thief at CFS has been banned from the business for 5 years by NFA. His son and one of the CFS owners has been permanently banned by the NFA. Beware, the Elrods have re-surfaced and are doing business as Rainmaker Equity Partners, LLC, Rainmaker Insurance Services, LLC, RM Pro Metals, LLC and RM NGW, LLC. Believe it or not, but NGW means "Next Generation of Wealth." Surely for the Elrod family and not their clients!

2009-07-13 No rating Straight from the NFA website - "On June 30, 2009, NFA issued a Complaint charging CFS, Andrew Elrod and Brian Elrod with misuse of customer funds; willfully submitting false or misleading information to NFA; and failing to diligently supervise. The Complaint also charged CFS and Brian Elrod with using fraudulent and misleading promotional material. Finally, the Complaint charged CFS with failing to follow the terms of the disclosure document and management agreement."

We're all innocent until proven guilty in this country, but in the meantime, hang on to your money.

2009-06-04 2 Stars I was a sales rep for CFS, but could never get my arms around their lack of performance a left with very little sales activity. The CEO is a charismatic guy, but they consistently lost money for our clients. CFS was a great concept, but poor results and possibly even unethical practices. Don't go there if they are still in business.
Robert M.,
Phoenix, AZ,
Jul 12, 2009,
Guest

Issue escalated to Traders Court FPA Scam Confirmation against CFSCap | GUILTY
2009-07-16 Update: The FPA Scam Investigations Committee has confirmed this complaint.

Consistently losing client money always came with some excuse.

A couple of weeks ago the NFA finally filed a case against this firm, its CEO and his son, which included:

More. Community discussion of this issue >>

Japhy Neighbors,
Phoenix, AZ,
Aug 9, 2007,
Guest

Yes, they were appearantly doing everything right at the time of the prior post. BUT, behind the scenes the company was reorganizing. The traders in charge of the speculative account had been having stellar performances for a few years. BUT, last year their performance was merely OK. (for example the differance between having >200+% returns and having returns closer to 120%.
Now such returns are very fine compared to other investments. And the traders had a outstanding track record. BUT they SHOULD have been taken aside and told "we want better. Check out this website and study and learn the material available." The point being to learn from the best and develop consistant returns. HOWEVER, unfortunately that was not what happed. The material availble at this website would or could have been a real learning experience for educated, experienced traders.
Besides, any trader who can make a profit consistantly, is doing at least something a little bit right and a lot better than losing money. It 'aint easy' but it's rare for traders to do well at all. Yes, there is potential...
April Glandt,
Denver Colorado,
Jan 29, 2007,
Guest

I am an Associate with CFS Capital Management. You may feel I am partial but please read on and I will explain my decision to join CFS Capital. In the early '80s I worked at NatWest bank on Wall St as an asst. trader in the Forex. Yes those were the days of industrial-only trading. I never really believed in the home trading since i know they get the 'B-book' offers when the way to make a real profit is with 'A-book' offers which are given to big money (as in millions)and institutions. CFS Capital does this, and allows investments as little as $2500. Also for example, you can transfer your 401k to an IRA (min $10,000)with no penalty, to be traded in the Forex. And I am required to get my Series 3 license in order to be an Investment Professional. CFS Capital is doing everything right. You can check their record out at the NFA website www.nfa.futures.org under CFS Capital Management. They are based in Lakewood, CO and they are about to begin a nationwide radio program. They are growing quickly. They also handle precious metals, and the new ETF's. As well as the new "Principal Protected Programs"