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NEW CMS forex account changes

  • #1
  • First Post: Nov 24, 2009 8:12pm Nov 24, 2009 8:12pm
Well people
you know the broker makes money when you trade whether you win or lose but now you lose even when you DON'T TRADE!!!

CMS Forex would like to notify you of a change in your account terms. We have noticed that a number of clients continue to utilize our charting and analytical software despite a lack of activity in their trading accounts. We are glad to see clients' continued interest in our products. However, these inactive accounts place additional burdens on our systems by taking up valuable resources. Thus, in order to be able to provide the highest quality of service to all of our clients, CMS Forex has instituted an account inactivity fee. CMS Forex will assess a monthly $30 USD fee on all client accounts with an equity balance of under $1000 USD that have been inactive for a continuous period of 6 months or more.

Please don't hesitate to contact our 24-hour Customer Support desk should you have any questions about your account.

Bunch of BULLSH*T, as if by paying $30usd a month will "provide the highest quality of service to all of our clients"
  • #2
  • Nov 24, 2009 11:00pm Nov 24, 2009 11:00pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting nahman
Well people
you know the broker makes money when you trade whether you win or lose but now you lose even when you DON'T TRADE!!!

[font=Arial, Helvetica, sans-serif][size=2]CMS Forex would like to notify you of a change in your account terms. We have noticed that a number of clients continue to utilize our charting and analytical software despite a lack of activity in their trading accounts. We are glad to see clients' continued interest in our products. However, these inactive accounts place additional burdens on our systems by......

CMS Forex is, was and will be always a hard core scam !
  • #3
  • Nov 25, 2009 6:49pm Nov 25, 2009 6:49pm
Well on one hand you can't blame them...They are a for profit business so why should they allow you to continuously use their charts and news for free?

That said, I also have a live account with them and their news feed sucks! I have seen other news feeds from DJ and comparing them with CMS' feed I found CMS only has, I am guessing here, the cheapest, crappiest news feed DJ offers so that their traders don't get too much info. The DJ feed I compared CMS against offered about easily 30-40 more headlines per hour than CMS'.

If you want some decent free news sources, open a demo at Oanada. The IFR newsfeed although not a good as the paid for subscription would be ($175/mo.) still not too bad. GFT offers news from, I think, AFX which is also... decent...

On a bit of a different tangent, has anyone noticed that once in a blue moon, usally on EUR/USD, there are some huge - and I mean huge spikes, that cannot be found on any other brokers' charts?

I am in the process of moving my account to an ECN. However, for some people a market maker could be a better option than an ECN...maybe...?

Laaate,

Veng.
  • #4
  • Nov 25, 2009 9:39pm Nov 25, 2009 9:39pm
ECN is a different style of trading. In essence it is the same yet worded MUCH differently at least on my latest ECN demo using CurreneX platform.

Who are you thinking of for ecn?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #5
  • Nov 25, 2009 9:55pm Nov 25, 2009 9:55pm
Quoting nahman
Well people
you know the broker makes money when you trade whether you win or lose but now you lose even when you DON'T TRADE!!!

[font=Arial, Helvetica, sans-serif][size=2][color=#666666]CMS Forex would like to notify you of a change in your account terms. We have noticed that a number of clients continue to utilize our charting and analytical software despite a lack of activity in their trading accounts. We are glad to see clients' continued interest in our products. However, these inactive accounts place additional burdens on our systems by taking...
most brokers have this, big deal................
  • #6
  • Nov 25, 2009 9:58pm Nov 25, 2009 9:58pm
Quoting onu
CMS Forex is, was and will be always a hard core scam !
are they and you know this how??? you worked for them, investigated them, where blatantly ripped off by them?

ONU If I was a mod I would have banned you for the utter shit you post on this fine site.

really mean this........... YOU'RE A MUPPET! a complete MUPPET.
  • #7
  • Nov 25, 2009 11:55pm Nov 25, 2009 11:55pm
Hi X,

I have been looking at a few. FXoen was one, but something, maybe the fact they are registered in Mauritius (http://news.bbc.co.uk/2/hi/africa/co...es/1063172.stm), makes me a little bit leery...

I was then thinking of PFGBEST.com which is well capitalized, but after reading some stuff about them on the NFA site I felt they might not be much better than some bucketshops, but I truly don't know. Negative things were filed againstt hem a while back...Also, commissions were a bit high for my liking. Rates were the tightest I saw when I compares a bunch of ECN demos, though.

Been looking into Dukascopy, and will likely open an account with them. Found an introducing agent for them and he offers 45% back on your monthly commissions! I started a thread on them to get a little more info. As one guy says, opening an account is a bit of a pain in the ass as you need to get your passport certified at a notary, and them snail mail it with signed docs to them! God love the Swiss gov't. More concerned about money laundering than making sure the brokers are on the up and up, I reckon.

You have any ECNs in mind?

Cheers,

Veng.

Quoting XTrade
ECN is a different style of trading. In essence it is the same yet worded MUCH differently at least on my latest ECN demo using CurreneX platform.

Who are you thinking of for ecn?
  • #8
  • Nov 25, 2009 11:57pm Nov 25, 2009 11:57pm
Sorry, I meant to pastet he link to the thread: http://www.forexfactory.com/showthread.php?t=208325
  • #9
  • Nov 26, 2009 5:10am Nov 26, 2009 5:10am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting >Apocalypto<
are they and you know this how??? you worked for them, investigated them, where blatantly ripped off by them?

ONU If I was a mod I would have banned you for the utter shit you post on this fine site.

really mean this........... YOU'RE A MUPPET! a complete MUPPET.

Dear clueless, u again...

since 2003 i have a LIVE acc. with them, I went through every possible bucketshop torture, from stop hunting to server shut downs when trades in profit. Support stuff didnt speak english sometimes, they sent my acc. statements to other clients and so on. I could write a book about them... Stopped trading there 2006 and used them just for charting(excellent VT features) and guess what? Since than i made money in forex....
I will close my account definitely, they earned a lot of bucks with me, a fee is the last thing they deserve for there unbelievable bad service.

So now, tell us, Mr. apocalyptic forum cop, whats your experience with them?

---------------------------------------------
http://www.myfxbook.com/members/pc8multifx
  • #10
  • Edited 2:10am Nov 27, 2009 1:56am | Edited 2:10am
Quoting onu
Dear clueless, u again...

since 2003 i have a LIVE acc. with them, I went through every possible bucketshop torture, from stop hunting to server shut downs when trades in profit. Support stuff didnt speak english sometimes, they sent my acc. statements to other clients and so on. I could write a book about them... Stopped trading there 2006 and used them just for charting(excellent VT features) and guess what? Since than i made money in forex....
I will close my account definitely, they earned a lot of bucks with me, a fee is the last thing they...
Sorry to hear of your bad and costly experience.

I don't have any experience with them. Good to see you hitting me with the facts ONU, I have downgraded you to junior Muppet. Keep it up!
  • #11
  • Nov 28, 2009 12:09pm Nov 28, 2009 12:09pm
Quoting >Apocalypto<
most brokers have this, big deal................
Which brokers do you know does this?

I have a few dormant but still funded accounts... I hope none of them have been siphoning off cash every month for similar or other reasons.
  • #12
  • Last Post: Nov 28, 2009 6:02pm Nov 28, 2009 6:02pm
Quoting Hyper
Which brokers do you know does this?

I have a few dormant but still funded accounts... I hope none of them have been siphoning off cash every month for similar or other reasons.
Hi Hyper,

Make sure you ask them.

GFT have it Interactive Brokers have it so a certain degree. FXCM have it. IG Markets charge for the charts on dormant accounts. (unless you deactivate them)

The best thing to do is call or email your brokers and ask if they do.

Good Trading
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