Cgma-trade Review
Beware Investors cgma-trade – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Who is:
cgma-trade is a website that claims to be operated by CGMA Trade Ltd, a company registered in Seychelles. However, according to the FSA, this company does not exist and has no legal status in Seychelles. The website also provides a UK phone number and an email address, but these are likely to be fake or unresponsive.
Regulation:
cgma-trade is not regulated by any reputable authority. The FSA of Seychelles has warned the public that cgma-trade is not licensed or authorized to provide any financial services in Seychelles or elsewhere. The FSA also advised the public to exercise caution when dealing with cgma-trade or any other unregulated entity. Trading with unregulated brokers exposes you to a high risk of fraud, scams, and loss of funds.
Location:
cgma-trade claims to be located in Seychelles, but this is not true. The FSA has confirmed that cgma-trade has no physical presence or legal status in Seychelles. The website also provides a UK phone number, but this is likely to be a virtual number or a call center. The actual location of cgma-trade is unknown and could be anywhere in the world.
Services:
cgma-trade claims to offer a variety of trading services, such as forex, CFDs, stocks, commodities, and cryptocurrencies. However, these services are not verified or regulated by any authority. cgma-trade does not provide any information about its trading conditions, fees, spreads, leverage, or platforms. The website also does not have any terms and conditions, privacy policy, or risk disclosure. This means that cgma-trade can change its rules at any time without notice or consent from its clients.
Reviews:
cgma-trade does not have any positive reviews or testimonials from its clients. On the contrary, there are many complaints and negative feedback from people who have been scammed by cgma-trade. Some of the common issues reported by cgma-trade’s victims are:
– Difficulty in withdrawing funds or closing accounts
– Pressure to deposit more money or accept bonuses
– Manipulation of prices or execution of trades
– Harassment or threats from cgma-trade’s agents
– Lack of communication or support from cgma-trade
Customer Service:
cgma-trade does not have reliable or professional customer service. The website only provides a UK phone number and an email address, but these are likely to be fake or unresponsive. Many clients have reported that cgma-trade’s agents are rude, aggressive, or unhelpful. Some clients have also reported that cgma-trade’s agents have tried to persuade them to deposit more money or accept bonuses that come with hidden conditions.
Securing Your Investments: Shielding Against Unscrupulous Brokers:
If you want to secure your investments and avoid unscrupulous brokers like cgma-trade, you should follow these tips:
– Do your research before choosing a broker. Check their reputation, regulation, location, services, and reviews.
– Only trade with regulated brokers that have a license from a reputable authority. Avoid brokers that are based in offshore jurisdictions or have no regulation at all.
– Read and understand the terms and conditions, privacy policy, and risk disclosure of the broker before opening an account or making a deposit.
– Be wary of brokers that offer unrealistic returns, bonuses, promotions, or guarantees. These are usually traps to lure you into depositing more money or locking your funds.
– Never share your personal or financial information with anyone you do not trust. Use strong passwords and secure devices to access your trading account.
– Monitor your trading activity and balance regularly. Report any suspicious or unauthorized transactions to your broker and the relevant authority.
– Withdraw your profits as soon as possible and do not leave your funds idle in your trading account.
– If you encounter any problems with your broker, try to resolve them amicably and professionally. If that fails, seek legal advice or file a complaint with the regulator or the ombudsman.
Conclusion:
cgma-trade is an unregulated and unauthorized online trading platform that has been warned by the FSA of Seychelles. cgma-trade is not trustworthy or reliable and should be avoided at all costs. Trading with cgma-trade exposes you to a high risk of fraud, scams, and loss of funds. If you want to trade safely and securely, you should choose a regulated and reputable broker that has a proven track record and positive reviews from its clients.
