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CMSTrader Scam

CMSTRADER is a scam company. They will convince you to deposit money and then when you want to withdraw,they open losing trades without your consent and steal part of your money. They will then call you to tell you they have evidence that you were the open that opened the trade. Everyone in that company is using a ghost name. They don’t allow you to withdraw. They steal your money. They are thieves. Everyone in the company should be arrested and the company should close down.

Reginald Owusu 2017-12-23
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Hong Kong SFC MarketSpeed FX,
Trading Station
$1 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, Web $5 Review Website

Latest Forex News

HotForex launched VIP Affiliates Rewards Contest

Jul 13 2018 13:09:56, Jonathan Smith in Brokers

  CySEC-regulated, global broker Hot Forex has come up with an attractive offer for its affiliates: the VIP Affiliates Rewards Contest. On top of the commissions affiliates get, they are now able to achieve some great extra rewards, such as a free trip to Cyprus for two, Rolex watches, iPhones and more.   Hard work pays off for the affiliates of HotForex. The promotion runs from 2 July 2018 to January 31, 2019, and the deposits and trades of both existing and new clients introduced by the affiliates are taken into account. Registration in the promotion is done in the myHotForex account area, and more specifically, in the VIP Affiliates Reward tab. Read more

Former Gain Capital executive Alexis (Lex) Webster joins FXTM as CCO

Jul 10 2018 12:16:12, Jonathan Smith in Brokers

  Former Gain Capital executive Alexis (Lex) Webster joined global award-winning forex broker FXTM as Chief Commercial Officer previous week. He has 18 years of experience in the financial services industry, including as a Senior Vice President, Strategy & Execution at Forex.com retail brand of Gain Capital Holdings Inc (NYSE:GCAP), City Index and LMAX.     As CCO, Mr. Webster will be responsible for overseeing various activities within the company, including those of the Sales, Marketing, Market Research and Partnership Support departments. Read more

UK’s FCA adds FXG Trade and Xtraderfx to its warning list

Jul 09 2018 08:09:36, Jonathan Smith in Market

  The UK Financial Conduct Authority (FCA) added two more unregulated companies to its warning list on Friday. These are FXG Trade and Xtraderfx (a trading style of Gpay Limited), which have been providing financial services in the UK without being authorized by the FCA.   XtraderFX is a CFD broker, focused on the crypto currency market, which on first glance can even be mistaken for a crypto exchange. The broker is operated by GPAY Ltd., and claims to be registered in the UK. Read more

New regulations in the crypto sector - form Thailand to the Philippines

Jul 02 2018 16:24:13, Jonathan Smith in Market

As governments around the globe are mulling how to regulate the crypto currency market, bold new legislation in Thailand and the Philippines gives an insight for a potential solution.   With an emergency decree, that came into force earlier this year, the Thai government bypassed a long standing debate about what asset category digital currencies should fall into.   Instead, the Thai government just adopted the Digital Assets Business Decree, which simply defines and regulates both crypto currencies (with which you can buy goods and services) and digital tokens, which give you rights to participate in an investment. Read more

ASIC: 80% of Binary Options traders and 72% of CFD traders loose money

Jun 29 2018 14:28:11, Jonathan Smith in Market

The Australian Securities and Investments Commission says  80% of Binary Options traders lose money, while the percent with CFD and forex traders is 72 and 63 respectively.   The findings are published in June in a paper titled “Improving Practices in the Retail OTC Derivatives Sector” and come as a warning to all forex, CFD and Binary options brokers in the country.   “The integrity of the retail OTC derivatives sector is a key focus for ASIC. Read more

FCA warns against Crown Finance, CFD Corporate and CT-Trade

Jun 28 2018 13:13:28, Jonathan Smith in Market

The British Financial Conduct Authority (FCA) has issued warnings against Crown Finance and CT-Trade – clones of FCA licensed companies and CFD Corporate, a broker not authorized to operate in the UK.   "Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm”, warns the regulator.    Crown Finance and CT-Trade have been targeting UK citizens, claiming to be authorised by FCA, while actually they are not. Both companies have been using the name, ‘firm registration number’ (FRN) and address of companies authorised by FCA to suggest they are genuine. Read more

The Long Swim and FXTM’s campaign to save our seas

Jun 27 2018 12:44:02, Stanimir Zhelev in Brokers

The future’s blue   What will the world look like in 2050? No doubt technological advances will have fundamentally changed many aspects of our lives. Artificial Intelligence is set to take the wheel, with driverless cars becoming the norm. 3D printing may have dramatically slashed the cost of building housing, with whole streets going up in just a matter of days. Physical communities may become a thing of the past anyway, as sophisticated nanotechnology allows people to plug into fully-realised, simulated worlds.   That’s on land, but what will be happening in the waters that make up 70% of the earth? The outlook is bleak. Read more

Crypto miner arrested in China for stealing electricity

Jun 25 2018 13:06:54, Jonathan Smith in Market

Chinese police has arrested a man for allegedly stealing 150 000 kW hours of electricity for bitcoin and ethereum mining.   The police has made the arrest and confiscated more than 200 computers after a local power grid operator reported abnormal electricity usage, Xinhua news agency says.   According to police sources the electricity grid for the suspected cryptocurrency mining operation had been short-circuited in an attempt to minimize the power bill.   The amount of electricity the suspect has stolen for just one month is enough to power more than 150 homes.    Similar allegations have led to the arrest of bitcoin miners in China before. Read more

FCA updates its warning list with forex brokers FTO Capital and EU-Capital

Jun 21 2018 12:17:33, Jonathan Smith in Market

  The UK Financial Conduct Authority (FCA) updated its warning list with two more unregulated forex brokers earlier this week. These are Financial Trading Online (FTO Capital) and EU-Capital, which have been providing financial services in the UK without being authorized by the FCA.   “Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us”, the UK financial watchdog reiterates in its official warnings. “However, some firms act without our authorisation and some knowingly run investment scams. Read more

UK’s FCA warns against fund recovery company MyChargeBack

Jun 20 2018 13:39:56, Jonathan Smith in Market

  The UK Financial Conduct Authority (FCA) warned MyChargeBack has been providing financial services in the country without being authorized by it. MyChargeBack is a fund recovery scheme, owned and operated by Cactil, LLC., a company headquartered in the USA.   “Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us”, the FCA said in its notice. “However, some firms act without our authorisation and some knowingly run investment scams.”   That being said, we are not claiming that MyChargeBack (operating via mychargeback.com) is a scam. Read more

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