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.