CMS Trader is a scam broker

Commercial Content Scam Stories
1

Dear all,

I have been scammed by CMS Trader (Pandorx Ventures).

CMS Trader offers managed accounts where they help clients to trade.

Cameel Swan, my accounts manager from CMS Trader, got me to top up my account so that they could start trading and help me earn profits. I started with an amount of US$5,000.

As Cameel Swan did well, and after much persuasion from him, I increased my invested money with them. He would ask me to top up my account whenever he made very good trades. One tactic he used was to offer a VIP status, which he said he had lowered the entry requirements for me.

This cycle repeated itself until I had invested a total of US$90,000.

Things started going downhill when I refused to top-up anymore and started withdrawing some money. My account then had about US$160,000. So I had “gained” a profit of $70,000 after 6 months. Cameel Swan started to place large trades which lost a lot of money, and they started to eat into my starting capital.

I finally had enough of them and told them to stop all trading because I wanted to take back all my money. Benjamin Broun, who is Cameel Swan’s boss, promised to return me all my money within 4 business days.

On the 4th business day, this is when this scam broker showed his true colours.

Cameel used my account to copy bad traders on the SIRIX platform without my permission. This cost me even more of my invested capital.

But the worst was yet to come.

On the same day, Cameel Swan fraudulently opened a silver trade worth US$1.5 million which immediately margin called my account! This act wiped out my account, the loss was US$108k, and brought my account into negative!

When I found out what he did, I gave him a call immediately. Cameel placed the blame onto me. He raised his voice at me at me, saying “I TOLD YOU NOT TO DO COPY TRADE!”. But I had uncopied all other traders, as I wanted to take back all my money.

What about the silver trade which costed me so much money? It was not a social trade and I would not sabotage my own account!

Bejamin Broun from CMS Trader emailed me saying that they will investigate this issue and asked me to wait patiently.

Now what I am left with is an empty pocket, a vague promise and a horrible experience. I hope that others can learn from my painful and expensive lesson, and only engage with reputable brokers.

Derrick

2

HI Derrick,

im getting numereous calls from CMStrader communication and investment advisors asking me to try their platform. I first registered with investing.com and then checked out the CMStrader and CMStrader says they are the signal providers to investing.com. I asked if you are, then i can use the investing.com. but they say it is better to appoint a manager for your account rather than use the investing.com signals ???.. Did you get this kind of story?

thanks

3

Jesus Christ…i would blow up their office…

I feel so bad for your story and im really sorry…i think you will never see your money again but this thread will help other to stay away from CMS because i went throug theyre agressive call since i blocked them totaly out of my phone provider. I was just signed in for a practice account.

Bad story…dont give up.

Rosi

1 Like
4

I simply can’t believe how anyone could invest such massive amount with such broker. There are tons of quality broker out there, so can’t we just pick one of them. I don’t even like the idea of investing so much with just one company. If I had such amount, I would divide it in 2-3 parts with different brokers.

1 Like
5

Oh wow DerrickNg, I am so sorry for this horrible experience. I just can’t believe, this is a huge amount of money. These kind of brokers are the worst scammers. They pretend to make huge profit for you and when you would like to receive your investment, “something happens”. And how is it possible that your account went negative? Don’t they have negative balance protection? Are they even regulated? I guess you should never let anyone else trade for you. You should contact the authorities if possible and publish this post in every trading forum.

7

Hi DerrickNG

I am so sorry for your loss.

“Bejamin Broun from CMS Trader emailed me saying that they will investigate this issue and asked me to wait patiently.”

Did you ever get a answer from Bejamin Broun? Did them investigate at all?

Roger

8

Google is a great way to check companies offering services, but then you have to decide how to interpret the informaton it provides.

The CMSTrader website lists their main office in London, plus also Singapore, Bahrein and Dominica. London gives a credible base, but why Singapore, Bahrein and Dominica? See the Financial Secrecy Index for their comments on financial regulation in these jurisdictions.

The company website says that clearing services are provided by Financial Services Authority, a company registered in St Vincent and owned by another company, Safe Side Trading Ltd., who own and operate CMSTrader’s website. Odd that they branded clearing as being by Financial Services Authority, which sounds more like a regulator than a company. But why St Vincent? St Vincent is a tiny island in the Caribbean: how many financial regulatory investigators do you suppose they have out of a population of 100,000? How easy do you think it would be for a non-resident to sue a company based there?

The Safe Side Trading Ltd. website says nothing about regulation or who they are or where they are based. Neither website says anything about their financial regulatory compliance, where they are registered or by which authority.

Cameel Swan Googles up with various reports of scams for at least 2 years,also connected with EZ Trader, a binary options outfit with a poor reputation.

The UK FCA issued this warning re CMSTrader in August 2016 -
https://www.fca.org.uk/news/warnings/cms-trader

You can check the FCA website to find out who’s registered and who’s suspicious.

Don’t give your money away.

9

Urgent CMSTRader is a scamster I got robbed with 21K Dollar NeVER NEVER invest with them.
JOseph Davis whatsapp number +447440903321 , Alex Sheperd Number +442038687251, cmstrader

They will show you profit in initial days and try to get as much money from you and will not respond to your email and phones.
Always check with your country finance regulatory authority about company you are investing.

You cannot call them see FCA Warning UK
Norway Finance Authority Warning finanstilsynet markedsadvarsler 2017 cms-trader–pandorx-ventures-limited

1 Like
10

Don’t believe a single word from CMS Trader. If you don’t want to get scammed, just stay out from CMS Trader. They are true scammer.

1 Like
11

Good move from you. You made the right decision.

12

Their names are all fake. Their identifies are all fake, everything in CMS Trader are all fake, they just want to scam your money. They scammed you $21,000. Stop putting more money with them.

13

It is too late to take about it in hindsight.

14

Any action you want to take?

15

I can confirm CMS TRADER is a scam broker. They took money for them when you want it back no one answer your mail, your phone. But if you try to open another account with a different email they will try to contact you to follow about new account!!
Be carefull with them no deal with this broker any more…

1 Like
16

get far away from CMS TRADER!!! They have my money and do not want to pay it back to me…

17

hope he will investigate, but I am sure nothing special will happen. My ACCOUNT MANAGER Jeremy STONE told me several time, yes we will send you back you money wait a couple days, wait I was busy, wait and wait and wait… more than a month…nothing!!!

1 Like
18

sure, all names and others…are fake!! they are thieves!!

1 Like
19

Don’t ever believe CMS Trader. Most likely you will never get back your money.
Bejamin Broun will not give you an answer, they just want to waste your time by telling they will investigate it.
SMS Trader is a scammer. Mostly everything in CMS Trader are fake, include their trading platform, their address, their name, their identities, etc. And they are not regulated.

20

Mostly like you will never get back your money!

21

Just don’t believe them, they are scammer.