CMTrading is the worse Ponzi-type scheme I have personal experience with

I have had a really bad experience. I saw SM's advert on an online social media post and started to do my research... I could not find a site like this - and it would've been very helpful if you guys have had this I place then - for I don't think I would have joined if I read the negative statements. PLEASE see what SEC Nigeria has posted!! BEFORE you take any decision READ this "Investigations have revealed that CMTRADING's operations exhibit the typical indicators of a *****ulent Ponzi scheme, including the promise of unusually high returns, heavy reliance on a referral system to sustain pay-outs and desperate requests for subscribers to fund accounts." Out of what I have written below you will see that my experience and conclusion confirm and align with what SEC Nigeria said.

I started with the initial $250 deposit on 2022/05/17 and understood the system quickly depositing an additional $1000 on 20/05/2022 and had quite good results. With the prodding from my agent with the $2500 bonus I would get and my previous success I added $5000 on 15/06/2022... through it all the agent kept telling me that the more I put in the more I will profit from it since I will be treated as a VIP and will get access to better information and trends.

I did this and up to the point where I deposited $5000 I actually didn't do too bad... I actually made quite decent profits which convinced me to put some more money into the account. The bonusses is also used as a means to convince you to put more money into your account. Once they had my $6250 my troubles started.

Yes they did keep to their promise of the bonuses and yes I still had access to the agent assisting me. But once the decisions became bigger and the amounts involved larger - I started loosing money. I hear the excuse on numerous other negative feedback re knowledge and risks. To give a bit of background on myself I come from a financial background and have run a profile in SA for our family with quite reasonable success so I do understand and know how to read and act on trends and movements - so NO I didn't take emotional decisions and NO I didn't take excessive risk. I repeated the strategy that was shown to me and which actually gave me VERY nice returns... Problem was once the agent assisting me got wind that I will not be putting more money into my account and that what I have put in the account would have to grow and become my portfolio - the help become less and less and advice was to follow what I know. This led to BIG losses to such a level that I then lost interest.

Next thing I tried to withdraw the funds - only to be told that I cant withdraw - since I have lost my OWN money but not the bonusses that was issued to me. I was ONLY then informed that you have to do 600 transactions on the account for the bonus to be permanently allocated to you, if I were to withdrawn then all bonusses would be forfeited.... Which I then started doing... small consecutive trades with again good results and making good profits, small but on an upward trend.

Through all this the people assigned by CMTrading advising me and who kept changing, because of reasons which was never disclosed in full, but basically the bottom feeders, us who don't put a lot of money into the account, get the "not so good" advisors/assistants/agents. Who keep pushing for you to put more money into the account. When they see that their pleas fall on people not willing to take more risk they disappear into the background.

At a stage they stated charging me a brokerage fee, when my account was not actively trading, which sparked me into the small regular trades mentioned above. This was more than 12 months after opening the account, and NO the bonusses up until then wasn't reversed as stated in a previous reply to a complaint from another user. Weird thing is as I started to approach 300 deals and making small profits and staying on an upward trend, the next thing all my bonusses was reversed on 19/04/2024... Making my account so small that trading becomes more of a hassle than anything else. So now my account has been dormant for a period I don't even know how long, but definitely more than 12 months.

To conclude the following conclusions regarding my personal experience with CMTrading: 1. As long as you are willing to put more and more money into your account they are all ears and willing to assist. 2. Bonusses are used to lure people in to depositing more and more 3. While your willing to refer people you have a trusting relationship with - they are all there 4. The moment you become distant and their promises and sometimes demands don't have an affect - they become one of the WORSE platforms that I have EVER been involved in.

STAY AWAY - My final conclusion.