After a few persuasive calls, Mrs. Rose Guion, Head of VIP Sales and Services - CFD1000, persuaded me to invest in their Algo Trading solution (CFD1000 Algo Trading) which would provide good yields. I was skeptical about investment since which I checked their website on scamadviser.com, the report stated Site is Russian Federation based and one ought to take caution when dealing with these as the indior has been inclined toward high risk. Also I was told that they were regulated by New Zealand however when I wrote to Financial Service Providers Register (FSPR), I was advised there is no such firm registered with them.
In-spite of both of these warnings I decided to trust on these and invest $1,000 to check the platform. Rose advised me that the provider is in process of seeking regulation and that it would take some time and I must not worry about it being controlled or not. I must say for some time I did see some profits in the account and then I would receive a call from them stating we're running advertising and that I must invest more funds since they may double it up. I decided to invest3,000 in it. Thus equity from me was $4,000 and the total bonus with this account was $1,300.
During the initial few weeks that the finance manager would take position and shut it maximum each day or two with profit or loss. However since the market began to develop into unfavorable the finance manager decided to permit the loss to last and did not bother closing the loosing trade. Not only did he allow loosing trade to become loss but he continued to open new positions in the direction that is unfavorable. As soon as I asked Rose Guion about this they're golden transactions. Due to lack of money management and position sizing the losses continued to rise and they caused a margin call for my account. When I asked them did they have to open so many positions in this small account and so size positions, I was told that the traders do their best to manage the account. Certainly by no means providing a margin call to client is in a finance manager's profile.
I'm not expert in investing but according to my understanding most of the finance managers do not alloe more than 2 percent of the account size for any given trade and it might send shiver down the spine if any single transaction exposes risk over 5 percent of the account size. For my account, the ordinary risk of this transaction was 20% and the risk was at 34%. Additionally there was no charge in the number of open positions at any time period. Maintaining six positions of 0.20 lot and then hedging it with a mighty 1.20 lot size was surely not a professional decision.
When I asked Rose Guion if the Fund supervisor have been directly in their role of giving me a margin call , I was told they have done their best. Additionally when I asked how would CFD1000.com allow me to recover the losses, I was told to invest more money with them and they'll offer maximum bonus to me to assist in recover the losses in next 12 - 24 months. My confidence in them is at rock bottom.
I was later told by Rose Guion that she has been promoted in the company and that she doesn't handle my account no more. My account was passed to Jean Martinez. He has a Russian accent and called me few times from Italian number however when I asked him where he is based, I was advised he is based in London. He desired me to invest further funds in the account for recovery I told him I wish to see my initial investment before I invest 30, regained. He exchanged my account for months and it gradually recovered the losses. One fine day there were suddenly big positions opened along with several open positions. I warned both Jean and Rose about not letting third margin call for my account. Unfortunately in few days the account was hit by a margin call due to complete careless behaviour. It was a deliberate action of opening big positions and causing me a margin call . When I discussed with Rose, she advises that the market includes risks and I should be aware of it and based on Jean I must invest with them for me to recover my investment.
I followed with Jean several times nevertheless he doesn't appear to be considering responding hence I have concluded CFD1000.com is a complete scam and I'd love to make it loud and clear to all of the present investors and the potential investors not to manage this company. They will show you progress for weeks or little longer however they'll shock you with their utter carelessness and destroy your account. I have observed this happening thrice with my account. They'd have refunded my sum due to their neglect however they have decided to discount my emails hence, if it was a company that is real their is little left to talk about them. I have lost $5,000 with those men and they're complete crooks and they'll gradually steal your hard earned cash. They did offer lot of promises yet failed to live up to some of it and continue to ask for more funds in order to recover the investment.
Some more evidence of these being dishonest includes:
1) scamadviser.com/is-cfd1000.com-a-fake-site.html
There website is classified with Low Trust Rating and recognized as dangerous to use. It is based on Russian Federation with security level as little as 25%.
2) blacklistedbrokers.com/warnings/search.php?mots=cfd1000
CFD1000 Ltd / 1000Trading Group Corporation is in breach of French law and isn't required to adhere to the fundamental principles of investor protection, good information or claims processing.
3) tradecomplaint.com/trading-reviews-complaints/India/cfd1000-com-reviews-complaints/forex/fx-broker/fraud-fund-mangers-of-broker-cfd1000-com_i12930#.Vbew1vmqpBcgsc.tab=0
4) .tradecomplaint. Com/trading-reviews-complaints/India/CFD1000-com-reviews-complaints/forex/fx-broker/cfd1000-com-cfd1000-broker-are-a-fraud-service-provider-in-forex-market_i13164#.Vbew3PmqpBcgsc. Tab=0
I'll share more information about them in near future so that other investors aren't cheated. Never permit a broker worker or a IB to trade your account. I urge all of the investors of CFD1000.com to withdraw your capital before its too late. If they prove to be broker and if they really do refund my investmest I will keep you posted.
The Only One