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AuctionsCM Review – is it scam or safe?

AuctionsCM Review  – is auctionscm.com scam or good forex broker?

RATING: 2 / 7 REVIEWS ForexBrokerz AuctionsCM
AuctionsCM is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


 Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Mini $50 0.01 lot 1:400 From 2.5 pips
Standard $500 0.01 lot 1:500 From 2 pips
Pro $5000 0.01 lot 1:1000 From 1.5 pips
Premium $20 000 0.01 lot 1:1000 From 0.9 pips

 

AuctionsCM provides four types of live trading accounts: Mini, Standard, Pro and Premium. Additionally, the Premium account has a swap-free option. There is no free demo account.

 

The broker offers trading in forex and CFDs, but we could not find further details about the asset portfolio.

 

 

The Company. Security of Funds

 

Company Country Regulation
Auctions Capital Markets Private Limited Hong Kong No

 

AuctionsCM is a forex and CFD broker from Hong Kong, but it is not regulated by the local Securities and Futures Commission (SFC). According to a post in a trader forum, the broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), but our check did not find an entry in the registry.

 

Generally, trading with unregulated is riskier than with properly supervised ones. The latter are usually abiding by strict regulatory requirements and provide better client fund protection than the former. We recommend that clients sign up with brokers regulated by UK's FCA or the Australian Securities and Investment Commission (ASIC) – two regulators known for providing robust supervision and client protection.

 

 

Trading platform

 

Trading with AuctionsCM is done on the most popular forex trading platform – MetaTrader 4 (MT4). It has been on the market for over 10 years and is liked both by brokers and traders. MT4 has a user-friendly interface and is rich in features. It offers the options for algorithmic trading and hedging, supports various types of orders, money management accounts and numerous third-party applications.

 

AuctionsCM offers the MT4 for desktop and Android and iOS mobile devices.

 

 

Methods of payment

 

The broker accepts payments through Visa and MasterCard cards. Additionally, clients can deposit funds through the online payment portals Neteller, Skrill and WebMoney.

 

 

Conclusion

 

AuctionsCM is an unregulated forex and CFD broker with average features and trading conditions. It is worth noting the unusually high leverage of 1:1000 for the Pro and Premium accounts, which brings very high risk of big losses in just a few trades.

 

Pros Cons
MT4 Unregulated
  Insufficient information
  Risky leverage for some accounts

 

 

Latest news about AuctionsCM
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Traders` reviews for AuctionsCM

Spread

Pros

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Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

most urgent

Dear All

I have read all the review and found that every one has put the remarks about what has happened but we have to come together and file FIR against
Mr Fiaz khan who was in touch with me. but now they are also not responding
as per the last communication had with them, they have told that
the pending payment will start from Oct-19 first week
but nothing has happened so fa today is 20.11.2019
I was invested long before Dec-2017
i got 4 payments but my principal is still with company
that is USD1600$
Mr Faiyaz contact number 9167191253
and my request to the person who may leave in Mumbai can visit their office
basically i from Aurangabad (MS)

IF we fight against them all together will have hope to recover
or others can save if we file complaint againt them in CYBER Crime
or EOW at the investor place with online system.

Thanks

Shyam Bawaskar

shyam bawaskar 11/20/2019

they are cheaters - not responding and returning my money A/c#2100068217

I did a huge investment there and now on one is responding. Moshin khan, Piyash, Sohail, Shruti, Jaison & Umesh all are absconded. Don't know how long they and their be loved can survive/get the peace with cheated money of hard earned middle class people.

Bhumesh Gupta 10/24/2019

They have cleaned up my account and not responding

They are cheaters, not refunding my money, and even not responding.

Bhumesh Gupta 08/28/2019

waiting for my Investment & profit

I have invested $ 1000 in Dec 2017. I had stared with Mr. Abhishek Dudgaonkar.
Actually I have received profit for 5 months. After then not any more till now. I was told that you will get your profit if you invest addtional amount otherwise you will not. In Dec 2017, I have to receive my investent return as per agreement. But now he is not replying phone or other members in the office are not taking phones. Feel I have been scamed. I want my hard earned money back. My family friend Mr. Pramod Kakde also invested $ 2000 , before 5 months & he had got a single payment. he is retired person & he was abused by the members of the co. when he asked his investment return. Please help

Mrs Suyogi Ghanekar 04/11/2019

AUCTIONSCM, waiting for my equity more than a year. feel i've been scammed

Current Account Number: 2100067177
Investment Amount 1: July 2017, $ 1000, Profit 4 Months $400
Investment Amount 2 : December 2017 $ 9,000, Profit for only 2 Months 2100

im here to give my story with auctionscm. I started well with a lady called Shruti who later left the company. A man called Laraib tool over n lured to increase my equity, was skeptical n was warned from a former member who introduced me to the company, since he had issues with the company. But Laraib managed to talk to me that i increased my account to $10000. I only recieved profit for first 2 months n after that not any more till now. I was told that there is a scam problem in india n that the goverment is monitering bank accounts. I was sent an email with an option to withdraw my money or sign a new contract with 7 % profit for 36 months it was not possible n had to wait till January 2019. Now we are in April 2019 but nothing has happened. I recieved an email to email details of my account. My current manager, Sohil(Steve Fernandes), told me at first that they have to wait till all members email there details. Recently he tells me that Tradefxm is holding back equity from the company n they are doing something about it.

My worry is, most of the reviews i read is that, they convice one to send them money, one gets a profit for few months n after than not anymore. Since then what Sohil tell me is to open another account n deposit more money n get profit while waiting for the other money.

I just want my hard earned money back. Please help me FPA.

Anyone with information on how i can recover my money through investigating team and lawyers in India, kindly share and would highly appreciate.

TIA

agneta 04/04/2019

Not received monthly payout

Hi AuctionsCM,

I have not yet received my last month and this months payout. I been trying to contact the agent who had opened the account for me, but she is not responding to my calls, or messages. I am now have a bad feeling of my investment. Please look into my case.

let me know if you need any info.

Mansur A Mulla 12/12/2018

Forget about the profits

No response.
No communication.
Serious doubts about genuinity of this company.
Forget about the profits.
Atleast return the orignal.
Reimbursement request submitted on 31 may 18.
Still to receive any response.

Mohd adil mansoori 10/15/2018

AuctionsCM - Making people fool

my experience with Auctioncm was very bad. I opened 1000$ a/c with them.
initially for 2 months i got their 10% payouts but their after my a/c wiped out because of misdid of their traders, Despite of being mentioned as '100% capital protection' in their agreement which ive signed initially they didn't take any reasponsibility. staff didn't show courtesy to atleast pickup my calls nor revert back. since last 4 months i am chasing them & they are just avoiding me. No response from their side....
Its a fraud co.i urge people not to give your hard earned money to these cheaters...

Pratik 05/28/2018

Admin for Auctions CM

Hello Mr Victor Rodrigues and Patrick,

@Victor. Trading Account ID: 2100059678. This is your trading account details:
13673856 2017.08.18 16:32:23 balance Deposit # EBS 100.00
13674468 2017.08.18 16:43:28 sell 0.02 eurusd 1.17419 0.00000 1.17238 2017.08.21 08:38:46 1.17348 0.00 0.00 0.03 1.42
13682743 2017.08.21 08:39:26 sell 0.02 gbpjpy 140.222 0.000 140.042 2017.08.22 13:59:45 140.197 0.00 0.00 -0.08 0.45
13684284 2017.08.21 09:21:08 sell 0.02 gbpcad 1.62164 0.00000 1.61917 2017.08.21 13:56:42 1.62091 0.00 0.00 0.00 1.17
13685375 2017.08.21 11:29:26 sell 0.02 eurusd 1.17485 0.00000 1.17396 2017.08.23 08:24:27 1.17446 0.00 0.00 0.06 0.78
13687254 2017.08.21 14:11:14 sell 0.02 gbpcad 1.62294 0.00000 1.62069 2017.08.21 14:13:35 1.62217 0.00 0.00 0.00 1.22
13711122 2017.08.23 08:26:19 sell 0.02 eurusd 1.17499 0.00000 0.00000 2017.08.23 08:27:57 1.17491 0.00 0.00 0.00 0.16
13711245 2017.08.23 08:30:06 sell 0.02 eurusd 1.17524 0.00000 0.00000 2017.08.29 08:11:14 1.20322 0.00 0.00 0.19 -55.96
13711293 2017.08.23 08:30:34 sell 0.01 eurusd 1.17614 0.00000 0.00000 2017.08.29 08:46:22 1.20338 0.00 0.00 0.11 -27.24
13711379 2017.08.23 08:31:10 sell 0.01 eurusd 1.17646 0.00000 0.00000 2017.08.29 08:46:27 1.20348 0.00 0.00 0.11 -27.02
13726020 2017.08.24 08:18:11 sell 0.03 gbpcad 1.60595 0.00000 1.60386 2017.08.24 09:34:07 1.60546 0.00 0.00 0.00 1.17
13727006 2017.08.24 10:00:03 sell 0.03 gbpcad 1.60692 0.00000 1.60472 2017.08.24 12:05:01 1.60638 0.00 0.00 0.00 1.30
13730550 2017.08.24 12:50:06 sell 0.03 gbpcad 1.60661 0.00000 0.00000 2017.08.24 15:05:45 1.60646 0.00 0.00 0.00 0.36
13732586 2017.08.24 15:26:51 sell 0.01 gbpchf 1.23472 0.00000 1.23100 2017.08.25 17:31:11 1.23284 0.00 0.00 -0.07 1.97
13850093 2017.08.30 09:59:37 credit Credit In- Reimbursement, value date: 2017.08.30 100.00
13850471 2017.08.30 10:06:59 buy 0.02 gbpcad 1.61872 0.00000 1.62110 2017.08.30 10:49:19 1.62110 0.00 0.00 0.00 3.79
13851053 2017.08.30 10:14:27 buy 0.01 gbpjpy 141.844 0.000 142.205 2017.08.30 12:20:42 142.073 0.00 0.00 0.00 2.09
13853157 2017.08.30 11:34:23 buy 0.03 gbpjpy 142.022 0.000 142.164 2017.08.30 12:41:02 142.164 0.00 0.00 0.00 3.88
13855346 2017.08.30 12:45:02 sell 0.02 gbpusd 1.29264 0.00000 1.29149 2017.08.30 13:22:15 1.29149 0.00 0.00 0.00 2.30
13861192 2017.08.30 13:34:51 sell 0.05 gbpcad 1.61805 0.00000 0.00000 2017.08.31 15:09:42 1.61344 0.00 0.00 -0.71 18.39
13903115 2017.08.31 13:33:50 buy 0.02 usdcad 1.25980 0.00000 1.26220 2017.09.07 15:25:15 1.21624 0.00 0.00 -0.22 -71.63
13904221 2017.08.31 14:10:31 buy 0.02 usdcad 1.25744 0.00000 1.26134 2017.09.07 15:23:01 1.21630 0.00 0.00 -0.22 -67.65
13919187 2017.08.31 19:01:52 sell 0.02 audusd 0.79354 0.00000 0.79196 2017.09.21 13:55:23 0.79196 0.00 0.00 -1.44 3.16
13998376 2017.09.05 12:47:25 sell 0.04 gbpcad 1.60523 0.00000 1.60279 2017.09.05 12:51:42 1.60619 0.00 0.00 0.00 -3.10
14015445 2017.09.06 08:26:12 sell 0.10 gbpusd 1.30400 0.00000 0.00000 2017.09.06 08:26:19 1.30269 0.00 0.00 0.00 13.10
14015447 2017.09.06 08:26:53 buy 0.10 eurgbp 0.91380 0.00000 0.00000 2017.09.06 08:27:01 0.91534 0.00 0.00 0.00 20.05
14015455 2017.09.06 08:28:30 buy 0.10 eurcad 1.47550 0.00000 0.00000 2017.09.06 08:28:34 1.47845 0.00 0.00 0.00 23.80
14015468 2017.09.06 08:31:14 sell 0.10 gbpjpy 141.820 0.000 0.000 2017.09.06 08:31:25 141.596 0.00 0.00 0.00 20.61
14041642 2017.09.07 15:17:13 sell 0.05 eurusd 1.20500 0.00000 0.00000 2017.09.07 15:17:30 1.20077 0.00 0.00 0.00 21.15
14041726 2017.09.07 15:20:52 sell 0.10 usdjpy 108.900 0.000 0.000 2017.09.07 15:21:08 108.662 0.00 0.00 0.00 21.90
14041744 2017.09.07 15:22:39 sell 0.15 eurjpy 130.950 0.000 0.000 2017.09.07 15:22:54 130.484 0.00 0.00 0.00 64.35
14041768 2017.09.07 15:24:49 sell 0.20 eurgbpe 0.92000 0.00000 0.00000 2017.09.07 15:25:06 0.91763 0.00 0.00 0.00 62.09
14148500 2017.09.14 09:43:12 sell 0.10 usdchf 0.96850 0.00000 0.00000 2017.09.14 09:43:19 0.96650 0.00 0.00 0.00 20.69
0.00 0.00 -2.24 58.75
Closed P/L: 56.51
Open Trades:
Ticket Open Time Type Volume Item Price S / L T / P Price Commission Taxes Swap Profit
No transactions
0.00 0.00 0.00 0.00
Floating P/L: 0.00
Working Orders:
Ticket Open Time Type Volume Item Price S / L T / P Market Price
No transactions

Summary:
Deposit/Withdrawal: 100.00 Credit Facility: 100.00
Closed Trade P/L: 56.51 Floating P/L: 0.00 Margin: 0.00
Balance: 156.51 Equity: 256.51 Free Margin: 256.51

The company rep. Steve Fernandes called you multiple times but you did not have the courtesy to reply him back. Hope you will call us back as your money is secure and company is making profit on the same.

@Patrick: You do not have any account is Auctions CM. It seems you are one of those employees that has been fired for misconduct and unprofessional behaviour.
If not then send me your trading account number....

Regards,

Mohsin Khan

Mohsin Khan 09/25/2017

AuctionsCM is a scam

AuctionsCM asked me to invest USD 100 in their forex trading company. They guaranteed minimum 10% returns every month. After I gave them the amount, they called again after a few days telling me my account was generating profit. They showed me some bogus figures to gain my confidence. They then asked me to deposit 50 thousand. I refused to do so until I had proof that I could withdraw my profit. However, they stopped all communication after that and have also refused to refund my 100 USD. I have taken up the matter with my credit card company. Please have nothing to do with them. It's a total scam.

Victor Rodrigues 09/07/2017

AuctionsCM: Not reliable. SCAM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Never invest with this Company.They will ask you to invest and at the end they wont pay you your monthly profits.

You can send various emails to the account department and you wont get any answer. I would recommend you to get your own Broker since once you give them your Money you wont have any control over it again.Fake percentage to Lure customers.

Patrick Ndiba 08/24/2017
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