Please dont let this happen to you!!!!!!! | Forex Factory

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Please dont let this happen to you!!!!!!!

  • #1
  • First Post: Oct 30, 2007 11:16pm Oct 30, 2007 11:16pm
Hello Friends,

I just logged into my cms live account, and the balance dropped by like $2250!!!!!!!!! when i called htem htey said its because i had requested a withdrawal but I had never requested one!!!!! then when i called their so called 24 hour customer serivce center, he said I will have to call in the mroning.....so I had to close few of my positions in order to avoid a margin call! i lost thousands of dollars because of this!!!! I will still call tomorrow morning and see whats going on but folks, please dont let this happen to you. if you do have cms account, I urge you to check out fxcm or oanda or someone but cms.
Contact me for Custom Indicators/EAs.
  • #2
  • Edited Oct 31, 2007 8:58am Oct 30, 2007 11:51pm | Edited Oct 31, 2007 8:58am
Quoting zalakinc
Hello Friends,

I just logged into my cms live account, and the balance dropped by like $2250!!!!!!!!! when i called htem htey said its because i had requested a withdrawal but I had never requested one!!!!! then when i called their so called 24 hour customer serivce center, he said I will have to call in the mroning.....so I had to close few of my positions in order to avoid a margin call! i lost thousands of dollars because of this!!!! I will still call tomorrow morning and see whats going on but folks, please dont let this happen to you. if you do have cms account, I urge you to check out fxcm or oanda or someone but cms.
Filing a report with the NFA is strongly recommended!
  • #3
  • Oct 31, 2007 12:25am Oct 31, 2007 12:25am
lets wait and see what happens later today
If I Go Broke Trying Then I Will die happy.
  • #4
  • Oct 31, 2007 4:30pm Oct 31, 2007 4:30pm
Ok I finally figured it out....cms has this weirdest policy. I will post more details tonight.
Contact me for Custom Indicators/EAs.
  • #5
  • Oct 31, 2007 7:48pm Oct 31, 2007 7:48pm
OMG!!! I read about FXCM and i did not see many positive replies.
Yes, let us all know what happend
  • #6
  • Oct 31, 2007 8:06pm Oct 31, 2007 8:06pm
Quoting dinka
OMG!!! I read about FXCM and i did not see many positive replies.
Yes, let us all know what happend

What does FXCM have to do with the post?
  • #7
  • Oct 31, 2007 8:24pm Oct 31, 2007 8:24pm
Quoting ignatius
What does FXCM have to do with the post?
read the first post again
  • #8
  • Nov 1, 2007 5:49am Nov 1, 2007 5:49am
Quoting zalakinc
Ok I finally figured it out....cms has this weirdest policy. I will post more details tonight.
sooo are you going to explain what happened or are you a little embarrased?
  • #9
  • Nov 1, 2007 5:48pm Nov 1, 2007 5:48pm
sorry I was tired last night and didnt get a chance to explain it to you guys what happned: Here is the whole story:

I asked them to wtihdraw money from my checking account, few days later, my cms account shows those funds available. so I start trading it.....and after couple of days, I see those funds are gone. I contacted cms to ask whats going on, they said they couldnt withdraw funds from my hcecking account thats why they decided to deduct htose funds from my trading account. I was like why did you make those funds available to me if you still hadnt receive the funds from my bank? and the funds were available in my checking account. I conferenced in my bank and they confirmed this!!!!! I just dont understand why cms would make these funds available in the first place if they hadnt received them from my bank? I lost so much money because i had to close some positions earlier than expected.
Contact me for Custom Indicators/EAs.
  • #10
  • Nov 1, 2007 5:50pm Nov 1, 2007 5:50pm
Quoting dinka
OMG!!! I read about FXCM and i did not see many positive replies.
Yes, let us all know what happend
I think FXCM is a good broker...try this - any question related to forex trading - call fxcm and ask. doesnt have to be your account related, just anything forex related - and they will help you out. I had even called them to ask questions about dailyfx.com, and tehy answered! their customer service is very good, sometimes a bit sales oriented, but good service. their withdrawal policy is a bit disappointing, they can only do wire(which costs 25 bucks) or check by mail.
Contact me for Custom Indicators/EAs.
  • #11
  • Nov 1, 2007 8:37pm Nov 1, 2007 8:37pm
I use CMSFX. I'm glad to hear they didn't really act fraudulently. However, it is certainly irresponsible of them to let you trade the funds that haven't cleared in their account. I hope it didn't screw your trading too much.
  • #12
  • Nov 1, 2007 8:51pm Nov 1, 2007 8:51pm
Quoting peterM
I use CMSFX. I'm glad to hear they didn't really act fraudulently. However, it is certainly irresponsible of them to let you trade the funds that haven't cleared in their account. I hope it didn't screw your trading too much.
lost about $300.
Contact me for Custom Indicators/EAs.
  • #13
  • Nov 1, 2007 8:54pm Nov 1, 2007 8:54pm
I have been live with CMS since 2003 and am still with them. I have never had trouble withdrawing funds by wire and obviously like trading with them otherwise I would have closed my account years ago.
Glad you sorted out your problem
  • #14
  • May 29, 2008 12:34am May 29, 2008 12:34am
yet i never get this problem...thank God
  • #15
  • May 29, 2008 3:35am May 29, 2008 3:35am
Quoting lnefx
I have been live with CMS since 2003 and am still with them. I have never had trouble withdrawing funds by wire and obviously like trading with them otherwise I would have closed my account years ago.
Glad you sorted out your problem
Me 2. And I'm glad they finally got their servers stabel.
I really like the VTTrader.
  • #16
  • May 29, 2008 9:05am May 29, 2008 9:05am
you can contact with NFA tell the broker first i wantto contact with

NFA
  • #17
  • Jun 10, 2008 9:14am Jun 10, 2008 9:14am
cms platform is pretty slick but the spreads are prohibitive imo - at least one pip bigger than there main competitors and sometimes two or more. The spread is the main thing that prevents traders from being profitable so low spread is important. They say that the platform was designed by traders for traders but those spreads sure arent - pity, if they were a little more competitve they would move to the top of the field with that trading platform
BTC Return This Year: na
  • #18
  • Jun 10, 2008 11:17am Jun 10, 2008 11:17am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting zalakinc
Hello Friends,

I just logged into my cms live account, and the balance dropped by like $2250!!!!!!!!! when i called htem htey said its because i had requested a withdrawal but I had never requested one!!!!! then when i called their so called 24 hour customer serivce center, he said I will have to call in the mroning.....so I had to close few of my positions in order to avoid a margin call! i lost thousands of dollars because of this!!!! I will still call tomorrow morning and see whats going on but folks, please dont let this happen to you. if you do have cms account, I urge you to check out fxcm or oanda or someone but cms.

NO further comments on cms necessary!!! They use a wide range of tools to mess up your trades......
  • #19
  • Jun 10, 2008 2:27pm Jun 10, 2008 2:27pm
See: http://www.forexfactory.com/showthread.php?t=79865
The basis of a democratic state is liberty. ~ Aristotle
  • #20
  • Last Post: Jun 10, 2008 3:23pm Jun 10, 2008 3:23pm
Quoting onu
NO further comments on cms necessary!!! They use a wide range of tools to mess up your trades......
My experiance with CMSFX International is good as far as withdrwal concern.
Regarding Quotes...there is problem sometimes of re-quotes. but if you are targating 50 to 100pip then no problem.
My observation is they must be using some kind of plugin to prevent scalpers by quote delay and continus order rejections.
for others no problem.
VT server is now stable..also new Pattern recognition tool is available on VT.
Lot of indicator available on VT.
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